Post
Topic
Board Beginners & Help
Re: Bitcoin and get rich quick syndrome
by
SquirrelJulietGarden
on 12/09/2023, 11:25:56 UTC
No, you can't lose or gain your Bitcoin in your wallet. It remains the same all through. What changes is the value, either in loss or in gain but your Bitcoin remains the same. It goes to support the argument of those who say 1BTC = 1BTC.
Bitcoin has a Proof of Work blockchain, not Proof of Stake so you can not hold your bitcoin in a wallet, stake it to receive staking reward. To have bitcoin, you have to mine it as a miner, to receive it from block reward (that is 6.25 BTC / block now) and transaction fee.

Other ways are buying it with your fiat currency or convert your altcoin to bitcoin.

You can lose your bitcoin if a hacker get access to your wallet private key and move your bitcoin to their wallets.