Author Topic: Bitcoin currency (merged topics)  (Read 116784 times)

Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #390 on: September 10, 2017, 07:02:06 AM »
http://deadcoins.com/

"Curated list of cryptocurrencies forgotten by this world."  Currently contains 592 dead cryptocurrencies.

With a combined market cap loss of $1,246,937 not counting scams and the $28 million lost in Speedcoin. But then these coins lacked the one thing Bicoin, Bitcoin Cash, Etherium, Dash, and the American Dollar all have... our confidence.

Any other industry this would be a massive red flag. I don't understand why currency is so unique.
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Offline Cedar

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Re: Bitcoin currency (merged topics)
« Reply #391 on: September 12, 2017, 07:45:59 AM »
From today's news:
Hackers linked to North Korea are ramping up attempts to steal bitcoin in order to bring in money for Kim Jong Un's regime, a top cybersecurity firm says. Bitcoin and other forms of virtual money -- known as cryptocurrencies -- appeal to North Korea as the U.S. pursues international sanctions aimed at further isolating the country, according to a new report from FireEye.

"Sanctions against North Korea are likely to fuel their cybercrime activity," said Bryce Boland, Singapore-based chief technology officer with FireEye. "Attacks on cryptocurrency exchanges can be a great vehicle to obtain what is ultimately hard currency."

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Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #392 on: September 29, 2017, 05:10:33 AM »
Fidelity CEO is open that they're into crypto.

https://www.yahoo.com/finance/news/fidelity-ceo-abigail-johnson-says-173509444.html

Interesting that the article calls out Jamie Dimon for being bearish while JP Morgan is buying.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #393 on: October 08, 2017, 08:14:48 PM »
I finally got around to configuring my network to allow incoming connections with the Bitcoin Core software running on an old laptop, which allows it to function as a full node on the bitcoin network.

https://bitcoin.org/en/full-node#what-is-a-full-node
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A full node is a program that fully validates transactions and blocks. Almost all full nodes also help the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, and then relaying them to further full nodes.

Most full nodes also serve lightweight clients by allowing them to transmit their transactions to the network and by notifying them when a transaction affects their wallet. If not enough nodes perform this function, clients won’t be able to connect through the peer-to-peer network—they’ll have to use centralized services instead.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #394 on: October 12, 2017, 06:26:44 AM »
New high of $5200.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #395 on: October 20, 2017, 02:13:39 PM »
Bitcoin just blew through the $6000/btc and $100 billion market cap levels.  The entire cryptocurrency market is valued at $175 billion.

BTC started this year at $1000.


Blockchain.info wallets now handle bitcoin cash and all BTC held prior to the split have been converted automatically to BCH.
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Offline Ice Age Farmer

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Re: Bitcoin currency (merged topics)
« Reply #396 on: October 20, 2017, 09:55:50 PM »
Disclaimer:  I used to mine, and still own, some Bitcoin.

That said, I don't trust this crypto'currency' any further than I can throw it.  Which I can't.  Because I can't hold it.  I think Puerto Rico has demonstrated pretty effectively that you can't use it in any sort of emergency/grid-down situation.

Also, buyer beware these ICOs; as time goes on, we see more and more of them languishing or being outright scams:

http://www.zerohedge.com/news/2017-10-19/worlds-largest-ico-imploding-after-just-3-months

But, just my 0.0004BTC...

Offline HanaHH

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Re: Bitcoin currency (merged topics)
« Reply #397 on: October 21, 2017, 02:34:45 AM »
Also think that Bitcoin is going to banned in hole world

Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #398 on: October 21, 2017, 10:26:39 AM »
Looking at this chart, it appears that bitcoins recent rise is coming at the expense of the other currencies.  The overall crypto market is down $2 billion since yesterday, while bitcoin has added over $2.5 billion to its market cap.

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Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #399 on: October 21, 2017, 09:11:45 PM »
If Bitcoin is the new gold, why hasn't gold gained alongside Bitcoin?

Yes, the cryptos are eating each other.

But what do they really offer? Stocks offer gains and dividends. Metals offer a store of wealth. Bitcoin is a currency that takes 30 minutes to close a sale.

I could be wrong. And those who held the Bitcoin I sold were correct... for now. I can't tell you when this will collapse.
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Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #400 on: October 23, 2017, 08:32:41 AM »
Saudi Prince Alwaleed spoke on CNBC this morning.

Re Bitcoin: "Enron in the Making."
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #401 on: October 23, 2017, 10:11:59 AM »
He went on to say, “it doesn’t make sense. This thing is not regulated, it’s not under control, and not under the supervision of any central bank.”

That’s what decentralized means, your highness. It’s a feature, not a bug.
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Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #402 on: October 24, 2017, 03:35:39 PM »
He went on to say, “it doesn’t make sense. This thing is not regulated, it’s not under control, and not under the supervision of any central bank.”

That’s what decentralized means, your highness. It’s a feature, not a bug.

But he has a point. All global currencies but metals and Bitcoin have a military to back them up. Metals have intrinsic value. Bitcoin is fiat without the muscle. The only thing propping up global currency is the might of the issuing country. Think petrodollar. While I love the decentralization of money, he offers a very good argument.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #403 on: October 24, 2017, 08:57:30 PM »
Bitcoin is a unique experiment, both technologically and economically, and as such could fail spectacularly at any time.  It's also, at least in part, a reaction to the financial crisis of 2008, which saw governments and central bankers bailing out financial institutions while tax payers got screwed.  A prime goal of bitcoin has been to establish whether or not it was possible to distribute a public ledger for the purpose of storing and trading value over a global network without central governance. 

So, yes, Prince Al-Waleed is exactly correct, bitcoin does not have intrinsic value (whatever that is) like gold, and no military backing nor central bankers like fiat.  But that's also the whole point of the bitcoin experiment.

I'm not an anarchist.  And many libertarians probably wouldn't claim me.  I don't see the state, its fiat, nor its threat of violence at the end of a gun going away anytime soon.  So I'm still heavily committed to traditional USD denominated assets.  But bitcoin offers a glimpse into the future.  The first bitcoin block was mined in January 2009 and new blocks have been added roughly every 10 minutes since then, solely driven by market forces and a consensus algorithm coded in software.  It's weathered hacking attempts, thefts, price bubbles, failed exchanges, government censorship, software upgrades, and copycat competitors over the better part of a decade.  That's quite an impressive achievement, especially for something with no central governing authority.

I think the underlying blockchain technology is sound and has enormous potential.  That particular Pandora's box will not be closed, short of an extinction level event.  But it's still uncharted territory and bitcoin could all go to zero tomorrow in favor of a superior technology.  As such, any participation in the bitcoin market should be treated as highly speculative.  Extremely speculative.

Don't risk what you can't afford to lose forever.  I risked very little back in 2012/2013, less than 1% of what I was worth back then.  That investment has grown 10,000%, which on paper represents far more of my net worth than I'm really comfortable with long term, so I'm in the process of selling monthly at a rate of about 5% per year and I seriously doubt I will ever risk USD for additional BTC purchases.  That's where my comfort level is right now, and I'm OK with waking up tomorrow, or 10 years from now, and finding it's all vaporized into the ether.  I suppose many would sell it all right now to avoid losing those gains, but that would have tremendous tax implications, plus the risk of banking scrutiny for money laundering, and so I decided to at least start the process slowly and see how it goes.  Plus, all I know is HODLING when it comes to investing, anyways, so this was the middle path I thought would work best for me.

WARNING:  Just because I have personal exposure to bitcoin does not mean I'm comfortable with anybody else reading this thread and putting hard earned USD into BTC, which is currently trading between $5-6k, and then waking up tomorrow and finding it's all gone.  I'm really not comfortable with that at all.  And I think if you read this thread from the beginning you will see that I've been pretty consistent about the speculative nature of investing in this space.  You're on your own.  I'm on my own.  We each are free to suffer the consequences of our own decisions.
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Offline bigbear

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Re: Bitcoin currency (merged topics)
« Reply #404 on: October 25, 2017, 09:25:42 AM »
Thanks FreeLancer for your contributions to this thread.  I've learned quite a bit about bitcoin and blockchain reading through this thread and searching different topics in the thread. 

Crypto-currency definitely has an ideological appeal.  And maybe that ideology is the 'intrinsic value' that gives it market value...? 
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Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #405 on: October 25, 2017, 11:25:00 AM »
I actually have a very similar story. I began in 2010-2011 and likewise put a small amount of money in. I traded it (I'll put some trading info below if anyone is interested). I, however am an anarchist and came to it from that angle. I want a decentralized currency and I think governments should be punished for what they have done to theirs. I actually tried to do as much as I could in Bitcoin.

Trouble is, nobody really spends Bitcoin. Even other people with my political stance don't really do it. Even at libertarian conventions where silver and gold are common Bitcoin just doesn't trade hands all that much. It got me worried.

When the time to resolve transactions finally got too great to ever pretend that this was a currency, I sold. And in 2016 I made a lot of money in Bitcoin. I'm not joking when I say it was the trade of my life. I will never get such a return again.

But I also look at the people hyping Bitcoin. They don't have any experience currency trading. Most lack an understanding of economics. Many can't program. While I would never consider myself a coder, I speak C++. I would parse new coins based on their business model and source code. I felt alone.

I'm bullish in the long run. I think Blockchain is already improving our lives with things like food safety and the tech will grow. I think there will be a crypto in the future that works. I don't know how it will but I doubt we've seen the right one yet. Clearly they all have issues. And I track the coin based businesses like Swarm City which I think have great potential. This is disruptive technology.

If nothing else, Bitcoin at least got people thinking about the evils of central banking. That's good. And I enjoy the debate. Both sides have compelling arguments.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #406 on: October 26, 2017, 12:52:57 AM »
Crypto-currency definitely has an ideological appeal.  And maybe that ideology is the 'intrinsic value' that gives it market value...?

I think that anarchist/libertarian/cypherpunk ideology was a critical force that bootstrapped BTC from nothing in its early years, but my impression is that the ideological enthusiasm began to fade away about the time Satoshi disappeared from the project and hit a low point with the Mt Gox implosion and the takedown of Silk Road.  This latest bitcoin price surge seems driven more by tech and finance entrepreneurial types, rather that ideologues, plus there's just more hype in the media this time around.  Just look at all the YouTube shills for every crapcoin and ICO you can imagine.

Honestly, at least in the US, bitcoin is a technological solution to a problem we don't really have at the moment.  We've got banks and credit cards and the ability to move money between accounts without much expense.  That's not true of most of the world and some of those places will wind up using bitcoin to solve real life problems before we do.  It didn't take Venezuelans long to figure out the arbitrage opportunity in using government provided electricity to mine bitcoins that could be converted to Amazon.com gift cards they could buy food with to keep from starving to death.  At this point I don't think we've seen the killer application for cryptocurrency or blockchain technology in the developed world, it might be another decade before that's found and who knows if bitcoin will be the technology that powers it by then. 

It's like the internet in the early 90's, where it's really hard to tell what the technology will ultimately be useful for and how it will disrupt the status quo.  How many years did it take before your mom had an email account or was brave enough to try buying anything online?  How many people thought AOL and Yahoo would be relevant players 20 years later?  Plenty of predictions back then turned out to be wildly off mark, in both directions, because it's hard to predict the future.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #407 on: October 29, 2017, 10:35:38 PM »
Another impending bitcoin hard fork, known as SegWit2x, is fast approaching in the next few weeks.  It's looking like it may be the most contentious one we've seen yet, with many afraid that the fork implementation is recklessly exposing current bitcoin holders to potential losses through something called a replay attack, or even outright theft.  These risks are more likely to occur with wallets that many bitcoin holders are using, especially those that do not utilize a full node server for monitoring the validity of transactions submitted to the blockchain. 

A full node wallet, like that found in the Bitcoin Core wallet (the current iteration of the original software that bitcoin was built on from the beginning), is somewhat cumbersome because it requires that a current up-to-date copy of every single bitcoin transaction since 2009 be maintained on your computer and synchronized with all the other nodes in the bitcoin ecosystem.  This requires about 200GB of storage and days to weeks of downloading to get a full synchronized copy of the entire blockchain, which is why most people use the more vulnerable lightweight wallets.

The Bitcoin Core developers (the guys who know the most about how bitcoin works) are warning bitcoin holders to move their holdings from Blockchain.info, Coinbase, Bitpay, and Xapo to the latest version of their Bitcoin Core software, which is currently 0.15.0.1.  For those not able or willing to go to the effort of downloading the entire blockchain, they suggest using services like GreenAddress, Electrum, or TREZOR, but to not spend any coin from those services until well after the outcome of the fork is known, in order to avoid losing bitcoin to unscrupulous and/or incompetent actors. 

This could have been avoided if the SegWit2x faction had the decency to program their software change to not allow replay attacks, but that is something they have not committed to, which is why this could be a very contentious split, with overtones of an attempted hostile takeover by a small group within the bitcoin ecosystem.

It's time to hunker down and keep your coins close until this all shakes out.  But be careful, move slow, stick with the technology that you know the best.  This is not the time to be clever and outsmart yourself by trying something new and untested.

Warning from the Core Developers at Bitcoin.org:  Beware of Bitcoin's possible incompatibility with some major services
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A subsection of the Bitcoin economy including prominent businesses such as Coinbase, Xapo, and BitPay have signed an agreement to adopt and implement a contentious hard fork of Bitcoin sometime in November. A hard fork is a backwards incompatible change to the Bitcoin network. This hard fork is not supported by the majority of the Bitcoin users and developers and is therefore a contentious hard fork. By adopting this hard fork, we believe the supporters of this agreement are shifting their users to an alternative currency (an altcoin) which is incompatible with Bitcoin.

The signatories of this agreement wrongly believe that the currency created by adopting this contentious hard fork will eventually become Bitcoin. Therefore storing any BTC on services such as Coinbase, Bitpay and Xapo is strongly not recommended. By storing BTC on these services, you could find that after the hard fork, your BTC has been renamed to something else or replaced entirely with the new altcoin. The best way to ensure that your BTC is protected is to download the latest version of Bitcoin Core and transfer out any BTC stored on services that are a signatory to this agreement. We have listed the businesses supporting this contentious hard fork at the bottom of this document.

For users who aren’t prepared to install Bitcoin Core and go through the lengthy set up process, we recommend a wallet such as GreenAddress, Electrum or TREZOR. Avoid using web wallets like blockchain.info. However users should only use these wallets to store their coins and never perform transactions until well after the hard fork. Any transactions you make on the Bitcoin blockchain can also be replicated and “replayed” on the altcoin chain. If the coins on the contentious hard fork have any value, there will be methods you can use to “split” your coins and have access to them. Pay extra attention to major Bitcoin communication channels and media shortly after the fork so you stay informed.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #408 on: November 02, 2017, 01:15:56 AM »
BTC is around $7,000 with a market cap $117 billion.  The 12 month low was $700.

If you add in Bitcoin Cash's $540 price, 10 bitcoins that were worth $7,000 a year ago are now worth more than $75,000.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #409 on: November 02, 2017, 10:14:58 PM »
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #410 on: November 03, 2017, 08:01:49 PM »
CNBC:  Largest US bitcoin exchange added 100,000 customers in one day after futures announcement

Quote
Investors rushed to open new accounts for buying and selling bitcoin after news that the world's largest futures exchange plans to launch futures for the digital currency this year.

About 100,000 new users joined Coinbase a day after the Tuesday announcement, according to public data compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund.

Coinbase is the largest bitcoin exchange in the U.S. and one of the most popular ways to buy and sell digital currencies bitcoin, ethereum and litecoin. The company now has 11.9 million users, according to its website.


Forbes:  How High Can Bitcoin Go?

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Firstly this is a game of round numbers. Round numbers shouldn’t have any effect on prices but in practice they do. Approximation is a good skill to have in markets and people are draw to them as targets. So let’s get the obvious target for Bitcoin out of the way:

$10,000.

This is an extremely high probability.

Quote
What people often forget about Bitcoin and cryptocurrency is that the market cap of the whole sector is currently just about $200 billion, the equivalent of one decent NASDAQ company. If you think Bitcoin is a hula-hoop, then it is currently expensive, but if like me you see blockchain as the next big thing, the current levels are trivial.

The next level for me is $50,000 a Bitcoin. This makes Bitcoin a trillion dollar asset. This is a real thing.
Yet with perhaps 300 trillion dollars of equities and bonds out there on earth, it’s still not exactly creating a revolution.
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Offline Mr. Bill

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Re: Bitcoin currency (merged topics)
« Reply #411 on: November 07, 2017, 02:17:45 PM »
Motherboard, 11/7/17: Someone ‘Accidentally’ Locked Away $300M Worth of Other People's Ethereum Funds

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On Tuesday, a single user permanently locked down dozens of digital wallets containing nearly $300 million dollars worth of ether, the unit of exchange on the Ethereum platform, allegedly by accident. ...

 The affected wallets—known as "multisignature" wallets because they require multiple people to sign off before funds are moved, making them popular with companies—were all created with Parity, a popular program for digital wallets. Parity multisignature wallets experienced a bug in July that allowed a hacker to steal $32 million in funds before the Ethereum community scrambled to band together to hack back and secure the rest of the vulnerable ether.

According to a blog post released by Parity on Tuesday, the code that fixed the July bug contained another vulnerability. That vulnerability allowed a user known as "devops199" on GitHub, a site for developers to collaborate on open source code, to allegedly accidentally trigger a function that turned the contract governing Parity multisignature wallets into a regular wallet address and made him or her the owner. Devops199 then killed this wallet contract, or, as Parity put it, "suicided" it. This made all multisignature wallets tied to that contract instantly useless, their funds locked away with no way to access them. ...

Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #412 on: November 07, 2017, 04:20:17 PM »
Ethereum’s programmability, supposedly its strength, has so far been its biggest weakness from the beginning.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #413 on: November 07, 2017, 10:38:42 PM »
US News & World Report:  What's the Best Bitcoin Wallet? 
Quote
#5 Coinbase, #4 Blockchain.info, #3 Electrum, #2 Leger or Trezor, #1 Paper wallet.


I'm pretty much in agreement, but currently I think I prefer the Electrum software wallet in cold storage mode over the Trezor or Ledger, mostly because I just recently started playing with hardware wallets and feel like I can understand and better control how my keys are being stored and accessed with Electrum.

Electrum really does a lot of things very well, and it works on Windows, macOS, Linux, and Android, and can be used with a hardware wallet, as well.  I've used it on several Macs, as well as in the Tails Linux distribution (I personally wouldn't trust Windows with significant amounts of bitcoin).  It provides the ability to generate and store wallet keys on an airgapped computer that you never allow online ever again and export a master public key to a second online computer to generate a watch-only wallet.  This second computer will interface with the network for transactions, but when you need to send a bitcoin transaction that requires a signature with the private keys it will save an unsigned copy of the transaction to a file that can be opened by the airgapped computer, which signs and save the transaction file to be transferred back to the online machine for broadcasting to the network.  It sounds complicated but Electrum makes it easy to do.  A couple youtube vids and you're good to go.

The other nice thing about having an airgapped computer is the fact that it makes the perfect platform for generating secure paper wallets using the bitaddress.org webpage, too.  Get an old basic printer that doesn't have any wireless connectivity to print out the paper wallet address and keys and you're good to go.

Remember, whatever method you choose, you must start slow and experiment with small amounts before committing significant amounts of coin.  Make sure you can reliably perform all the steps necessary to get your coins back out of the wallet after you've put them in there.  And practice the steps a few times over a few days so it really sinks in.  Otherwise, you might wind up outsmarting yourself in the process of trying to keep your coins safe.  It's like burying gold out in the back forty, you need to take some steps to make sure you can find it again when you really need it. 
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #414 on: November 08, 2017, 12:26:09 AM »
Wired:  ‘I Forgot My PIN’: An Epic Tale of Losing $30,000 in Bitcoin

This freaky little story popped up in my feed literally hours before I was planning on major cold storage changes.  Spooked me into double checking everything for another three days before I finally pulled the trigger on the transfers, and that was in addition to the week I'd already spent prepping and testing all the computers and drives involved in the new scheme.


I heard a similar story on a podcast in early 2014, where a young couple related how they'd put their entire 1,000 bitcoins into an encrypted paper wallet but then lost the encryption key a month later.  That was briefly worth a $1 million back then, it's $7.4 mil now.
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Online David in MN

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Re: Bitcoin currency (merged topics)
« Reply #415 on: November 08, 2017, 05:37:20 AM »
Wired:  ‘I Forgot My PIN’: An Epic Tale of Losing $30,000 in Bitcoin

This freaky little story popped up in my feed literally hours before I was planning on major cold storage changes.  Spooked me into double checking everything for another three days before I finally pulled the trigger on the transfers, and that was in addition to the week I'd already spent prepping and testing all the computers and drives involved in the new scheme.


I heard a similar story on a podcast in early 2014, where a young couple related how they'd put their entire 1,000 bitcoins into an encrypted paper wallet but then lost the encryption key a month later.  That was briefly worth a $1 million back then, it's $7.4 mil now.

Not a rare story, it's happened to at least two friends of mine. The trader in me is curious what the actual float of Bitcoin is. We may never know.

Roger Ver was on Tom Woods' podcast to discuss crypto. Interesting discussion.
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Offline osubuckeye4

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Re: Bitcoin currency (merged topics)
« Reply #416 on: November 08, 2017, 02:25:02 PM »
Wired:  ‘I Forgot My PIN’: An Epic Tale of Losing $30,000 in Bitcoin

This freaky little story popped up in my feed literally hours before I was planning on major cold storage changes.  Spooked me into double checking everything for another three days before I finally pulled the trigger on the transfers, and that was in addition to the week I'd already spent prepping and testing all the computers and drives involved in the new scheme.


I heard a similar story on a podcast in early 2014, where a young couple related how they'd put their entire 1,000 bitcoins into an encrypted paper wallet but then lost the encryption key a month later.  That was briefly worth a $1 million back then, it's $7.4 mil now.

I had something similar happen.

Hard drive that had my Bitcoin account on it fried... I had my account information and password written down on a piece of paper, my 3 year old (at the time) decided to doodle all over it.


It was a fraction of a single coin (something like .72), and at the time was a few hundred bucks.

Now, I guess it's a few thousand :(

Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #417 on: November 09, 2017, 01:57:54 AM »
Another impending bitcoin hard fork, known as SegWit2x, is fast approaching in the next few weeks. 

The planned for next week SegWit2x fork has been called off, possibly permanently, reportedly due to a lack of consensus among the businesses backing the block size change, as well as backlash from bitcoin users.
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Offline FreeLancer

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Re: Bitcoin currency (merged topics)
« Reply #418 on: November 11, 2017, 09:50:55 PM »
The last few days have been interesting.  BTC ran up above $7800 immediately following the cancellation of SegWit2x, but soon went into free fall and is currently down to $6000.  Meanwhile, BCH (Bitcoin Cash, which forked from BTC in August) has run up to $1800.  As luck would have it, I traded most of my BCH in for BTC a week ago, in preparation for the fork.  I have a few BCH tied up in Coinbase, but I don't think they're going to be available until January.

23:57:30

Offline Speaker0311

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Re: Bitcoin currency (merged topics)
« Reply #419 on: November 12, 2017, 06:40:43 AM »
I would keep a close eye on dash.
When they roll out the "evolution" wallet they will be a serious contender for the crown, I think.
Those who do nothing will always be at the mercy of those who do something.