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There are a couple of considerations here:
1) Nothing is sure in life: With this I mean there is a possibility greater than 0 that you maybe wake up tomorrrow and for whatever surprising reason Bitcoin is now nearly worthless. What would be your personal situation now?
a) In case you have already 1 million USD in the bank and invested a couple of years ago 10 000 USD in Bitcoin, that would be a serious hit, but likely no changing your lifestytle dramatically, just a bad surprise.
b) In case you have 10 000 USD in the bank and currently holding Bitcoins worth 1 million USD currently, the loss would feel much harder and likley seriously impact your mental health.
c) In case you have 1000 USD in the bank and holding Bitcoins worth 1 million USD, the loss would likely give you suicidal thoughts.
2) Investing is all about making a profit over time. Depending where you fit in under 1 above, I would suggest in case you have already made a profit holding Bitcoins to consider selling an amount that you can then move to your bank account and is not affected by a total wipeout of Bitcoin,
Personally I would make a plan with certain tresholds lets say 100 000 USD for Bitcoin and when the treshold is reached maybe sell 30 % of your holding and HODL the other 70 % until the next treshold is reached. This should make sure that you survide a sudden wipeout of Bitcoin with at least a certain amount of profit and still have Bitcoins in case Bitcoins goes to 10 million USD or so.
Just my humble opinion
1) Nothing is sure in life: With this I mean there is a possibility greater than 0 that you maybe wake up tomorrrow and for whatever surprising reason Bitcoin is now nearly worthless. What would be your personal situation now?
a) In case you have already 1 million USD in the bank and invested a couple of years ago 10 000 USD in Bitcoin, that would be a serious hit, but likely no changing your lifestytle dramatically, just a bad surprise.
b) In case you have 10 000 USD in the bank and currently holding Bitcoins worth 1 million USD currently, the loss would feel much harder and likley seriously impact your mental health.
c) In case you have 1000 USD in the bank and holding Bitcoins worth 1 million USD, the loss would likely give you suicidal thoughts.
2) Investing is all about making a profit over time. Depending where you fit in under 1 above, I would suggest in case you have already made a profit holding Bitcoins to consider selling an amount that you can then move to your bank account and is not affected by a total wipeout of Bitcoin,
Personally I would make a plan with certain tresholds lets say 100 000 USD for Bitcoin and when the treshold is reached maybe sell 30 % of your holding and HODL the other 70 % until the next treshold is reached. This should make sure that you survide a sudden wipeout of Bitcoin with at least a certain amount of profit and still have Bitcoins in case Bitcoins goes to 10 million USD or so.
Just my humble opinion
Not sure how you want to teach about Bitcoin.
I think videos about a speciifc topics that can be easily shared would be my approach. As an example see this IT Guy on Youtube:
https://www.youtube.com/user/elithecomputerguy/featured
For more general info the guy has a separate channel:
https://www.youtube.com/@EliComputerGuyLive/videos
Regarding topics start from the beginning like "Whats in Bitcoin" and then move on through all the details step by step......
If the quality is good maybe people would pay for it
I think videos about a speciifc topics that can be easily shared would be my approach. As an example see this IT Guy on Youtube:
https://www.youtube.com/user/elithecomputerguy/featured
For more general info the guy has a separate channel:
https://www.youtube.com/@EliComputerGuyLive/videos
Regarding topics start from the beginning like "Whats in Bitcoin" and then move on through all the details step by step......
If the quality is good maybe people would pay for it
I would say enough money is the amount of money you consider sufficient to spent the rest of your life writing a book....
The amount is of course depending on the person answering this question......and will likley vary...
The amount is of course depending on the person answering this question......and will likley vary...
Despite having this kind of reminders repeatedly over the years there are still a lot of people, especially those who are new to crypto that were recently being able to gain profit by investing in Bitcoin. Bragging it to other people is of their ways to show off and make other people see them as a successful person that should be followed.
This is one of my observations which can sometimes they use to take advantage of other people to gain more money, increase their followers, increase their referrals, and sometimes they even take a step forward of initiating a paid seminar just because they made a profit with their investment during the rally.
By doing this, they are forgetting the most important thing, to keep the information of their investment as their privacy. They don't imagine the risk involved of doing this because they are more focused on bragging and letting other people know that they are making money through Bitcoin.
Even though I don't like this, I won't deny that people who brag about their bitcoin investments on social media are making a lot of money and they have been living peacefully for many years. This depends on each country's security, not everyone will be in danger if we brag about our investments with the aim of making more money. There are many famous investors in my country who always brag and make extra money by bragging on social networks to call people to join their group. But the interesting thing is that they still exist from 2017 until now and I guess they have made tens of millions of dollars or even more through their investments and they have attracted many people into thier group. This is one of my observations which can sometimes they use to take advantage of other people to gain more money, increase their followers, increase their referrals, and sometimes they even take a step forward of initiating a paid seminar just because they made a profit with their investment during the rally.
By doing this, they are forgetting the most important thing, to keep the information of their investment as their privacy. They don't imagine the risk involved of doing this because they are more focused on bragging and letting other people know that they are making money through Bitcoin.
If you like to brag about your Bitcoin wealth, maybe just brag about 10 % of it. Then have a matching amount of Bitcoins in a dedicated wallet and the other 90 % in other wallets.
Advantage:
1) You can publicly brag as much as you want, maybe to attract some female company
2) If bad things happen you lose only 10% of your holdings and can easily give it up when needed...
⭐ Merited by vapourminer (1)
I don’t know why everyone is suggesting complicated means to destroy the steel plate. Acid is expensive and hard to come by and how will you melt it at 3000C in your home?
All you need to do is take a drill and make a few holes in it and you are done. If the drill breaks it means you got a cheap bit. Buy one of those $5 bits and it will drill thru steel like butter pretty much.
You also don’t need to drill all the way, just enough to destroy what is written on the main surface.
All you need to do is take a drill and make a few holes in it and you are done. If the drill breaks it means you got a cheap bit. Buy one of those $5 bits and it will drill thru steel like butter pretty much.
You also don’t need to drill all the way, just enough to destroy what is written on the main surface.
Another option is to go to the next car repair and borrow an angle grinder for 5 minutes to clear the metal surface of your steel plate or pay a mechanic a couple of bucks to do it for you..
Re: Steelwallets and Airport Security - Potential Exposure Concerns
It depends:
Normally the steel wallet will not be affected by the X-ray machines, it is an electronic storage device or a a kind of mini PC....
BUT : If you are unlucky and seen in the company of a suspected Terrorist or Kiddiefiddler who you met maybe on the flight and had a friendly conversation with.....THEN maybe the airport security will ask you to provide access to your steel wallet, just to make sure there are no naughty pics on it or terror plans.......
In some countries you can decline to provide the password but then will get locked up until you change your mind... all up to you
Normally the steel wallet will not be affected by the X-ray machines, it is an electronic storage device or a a kind of mini PC....
BUT : If you are unlucky and seen in the company of a suspected Terrorist or Kiddiefiddler who you met maybe on the flight and had a friendly conversation with.....THEN maybe the airport security will ask you to provide access to your steel wallet, just to make sure there are no naughty pics on it or terror plans.......
In some countries you can decline to provide the password but then will get locked up until you change your mind... all up to you
Hi Bobby,
the steelwallet is a simple metal plate with the phrase seed engraved on it, It does not have any electronic components.
My doubt arises as to whether the x-ray scanner can read the phrase seed, or whether an agent suspicious of the strange object could check it and read the words (even worse if he were to photograph it)
Thanks for the clarification.........
Given the high value of Bitcoin, I think it could be possible that some security personel figure out a way to take a pic of your seed phrase.....would just need 1 person on the scanner to look for the metal object and the other person to maybe wear a hidden body cam or so to take a pic...... would be a nice earner and very hard to prove....
Re: Steelwallets and Airport Security - Potential Exposure Concerns
It depends:
Normally the steel wallet will not be affected by the X-ray machines, it is an electronic storage device or a a kind of mini PC....
BUT : If you are unlucky and seen in the company of a suspected Terrorist or Kiddiefiddler who you met maybe on the flight and had a friendly conversation with.....THEN maybe the airport security will ask you to provide access to your steel wallet, just to make sure there are no naughty pics on it or terror plans.......
In some countries you can decline to provide the password but then will get locked up until you change your mind... all up to you
Normally the steel wallet will not be affected by the X-ray machines, it is an electronic storage device or a a kind of mini PC....
BUT : If you are unlucky and seen in the company of a suspected Terrorist or Kiddiefiddler who you met maybe on the flight and had a friendly conversation with.....THEN maybe the airport security will ask you to provide access to your steel wallet, just to make sure there are no naughty pics on it or terror plans.......
In some countries you can decline to provide the password but then will get locked up until you change your mind... all up to you
I would say open a safety box with a reputable bank in your name, best the same bank where you have your bank account. Create a folder with detailed instructions about Bitcoin and the details needed to access your Bitcoins.
So in case of your demise whoeever will inherit your stuff will likely get access to this safety box too and has all information to use the Bitcoins.
In case your "family" decides to go to war about who gets how much of your Bitcoins that will not bother you in your grave. At least your Bitcoins are not completely lost and you don"t need to tell anyone about them before your die....
So in case of your demise whoeever will inherit your stuff will likely get access to this safety box too and has all information to use the Bitcoins.
In case your "family" decides to go to war about who gets how much of your Bitcoins that will not bother you in your grave. At least your Bitcoins are not completely lost and you don"t need to tell anyone about them before your die....
Just 2 points I noticed:
1) The OP says he is a Bitcoin trader, so maybe he still made a lot of money with Bitcoin, and just made a specific mistake regarding this USB stick with 100 Bitcoin....
2) In case he is suffering about the lost Bitcoins, I would suggest to buy a lottery ticket every week with a top price of the current 100 Bitcoin value, maybe he is lucky again to make a good decision ..
1) The OP says he is a Bitcoin trader, so maybe he still made a lot of money with Bitcoin, and just made a specific mistake regarding this USB stick with 100 Bitcoin....
2) In case he is suffering about the lost Bitcoins, I would suggest to buy a lottery ticket every week with a top price of the current 100 Bitcoin value, maybe he is lucky again to make a good decision ..
The idea you Ave mentioned is great as it will keep the seed phrase safe and I would probably think of t if I am hodling a huge amount of crypto in a particular wallet. But at the moment it's too much of an hassle for me and as a person who had already lost seed phrase of blockchain wallet in the past by writing and keeping it somewhere I have started a simple strategy of sharing the seed phrase from my personal email to alternative email so it's there in two separate places and also uploads the same in cloud.
A stupid idea like this coming from a hero member on this forum is a big shame, how did you become a hero member without knowing that it's wrong to keep or store your recovery seed online? Even if you are using a hardware wallet, if you keep it's seed in any form of online storage, either email or cloud then you are not safe.
This is crazy and stupid, newbies are looking up to high ranking members on this forum, believing that they have passed through a lot and always know better, it's disappointing that this nonsense is coming from a hero member, wtf?
Any recovery seed or private key must stay offline, there is no better way to keep your keys safe than using offline mode, this is why airgapped wallet are the most secured, they lack the need for internet, they are always offline, may God have mercy on your soul.
In my view it depends on your requirements. Lets say I have 100 000 USD in Bitcoin. There are different considerations:
1)Safety: Keep the seed phrase save. If you save the seed phrase in a physical space, like on paper, metal or whatever, everybody needs to be physically present to steal this information.
If you store the info online it can be hacked via the internet, I agree here. So online is less save.......
2) Access: But what happens if you travel to a foreighn country and get arrested and need access to your Bitcoin funds to pay for a good lawyer?
How does it help that you have the seed phrase hidden at home???Maybe worth to have set up an online option to access your seed phrase, at least then you have a chance to use your Bitcoins .....
For me money is a tool, and if I cannot use it it is useless for me......
But if other prefer to rot in jail and it makes them happy that their Bitcoins are save :
Up to you
I guess you never know in what kind of circumstances you will possibly need access to your seed phrase, so maybe an online option and a couple of offline options aare are in order.
1) Online: of course it should not be ebvious that it is a seed phrase and on the other hand it should be simple enough so that you know yourself what the words and the order are.
Maybe as a example: Set up a website with a couple of pics and enter the seed phrase in single words in the EXIF Data for example. If you keep your mouth shut that this webpage even exist, this should be quite safe...
2) Offline: You should always consider that you maybe have an accident and have to stay in a hospital for some time, if you are not lucky some one cleans up the house and throws your secret passphrase in the trash or so.
Maybe you should additionally simply write a will and add a closed envelope with your passphrase and deposit it with a lawyer at a courthouse or so, this also makes sure in case you die early the Bitcoins are not lost....
Just my thoughts about this
1) Online: of course it should not be ebvious that it is a seed phrase and on the other hand it should be simple enough so that you know yourself what the words and the order are.
Maybe as a example: Set up a website with a couple of pics and enter the seed phrase in single words in the EXIF Data for example. If you keep your mouth shut that this webpage even exist, this should be quite safe...
2) Offline: You should always consider that you maybe have an accident and have to stay in a hospital for some time, if you are not lucky some one cleans up the house and throws your secret passphrase in the trash or so.
Maybe you should additionally simply write a will and add a closed envelope with your passphrase and deposit it with a lawyer at a courthouse or so, this also makes sure in case you die early the Bitcoins are not lost....
Just my thoughts about this
I am not an expert. But maybe it is a good idea to makea duplicate of the drive you want to recover in case things go wrong: I found this article:
https://www.challengeros.com/tutorial/how-to-clone-a-hard-drive-for-data-recovery-and-forensic-purposes/
Maybe it helps :
https://www.challengeros.com/tutorial/how-to-clone-a-hard-drive-for-data-recovery-and-forensic-purposes/
Maybe it helps :
I don’t think so. Gambling plays in pure chance. There’s really no strategy involved nor there is some kind of mathematical or even historical patterns to follow. However, with trading an investor can mitigate risks by following historical patterns and setting entry and exit points.
Honestly your friend lost a lot. One could regain it all back if invested in the right coin but since we are talking about bitcoin, he can definitely regain it all back if he just held it for longer. Altcoins are far better options for trading because of its volatility.
Honestly your friend lost a lot. One could regain it all back if invested in the right coin but since we are talking about bitcoin, he can definitely regain it all back if he just held it for longer. Altcoins are far better options for trading because of its volatility.
I agree here. For example buying stocks in companies.
If you flip a coin and base on the outcome of this the decision to buy or not to buy, you are gambling. Like betting on black or red when playing Roulette.
If you do some research on future trends and the details on the companies finances and come to a conclusion about the possible risk, then you are trading based on your view on this specifc company. In case your investment goe swrong, you can analyse the reasons and improve your decision making process for the next trade. Over time you can improve to a dgree that allows you to make serious money. But at the beginning some losses are to be expected....
Re: I have a friend who made a bot, and it's killing it in terms of performance.
I have a very simple opinion about claims of oustanding performance:
If I have a system that works very well in making money, I keep my mouth shut and enjoy making a lot of money while it is still working....
If I have a crappy system and want to make some money, I will make publicly big cliams how phantastic my system is and hope to find a lot of suckers who will believe this crap and send my some money to be part of this new system....... Kind of sounds like a startup
If I have a system that works very well in making money, I keep my mouth shut and enjoy making a lot of money while it is still working....
If I have a crappy system and want to make some money, I will make publicly big cliams how phantastic my system is and hope to find a lot of suckers who will believe this crap and send my some money to be part of this new system....... Kind of sounds like a startup
Re: Digital assets guidiance: How i regain my USDT wallet access
I think the scam funds were not recovered. But maybe some scam funds can be recovered which I have no experience with yet. If there is any steps to recover lost funds I would like you to elaborate here or share links to the information.
This is a scam attemptThere are no recovery services for stolen crypto, just scammers attempting to scam a vulnerable victim who is an easy target.
- Jay -
Yep,
If people believe already in one scam, they are very likely to believe in the next scam to recover their losses.... and then they fall for the next scam......
I don't think that the 21 million Bitcoins are related in any way to the amount of Gold in the world.
My guess is the following:
Satoshi had to make a design for Bitcoin that made it future proof, even in case Bitcoin would be used worldwide by many people. So the total amount of units are 21 million Bitcoins, with 100 million Satoshies per Bitcoin. These are plenty of units, in case they are needed to satisfy demand.
Why now 21 million Bitcoins?
Maybe he just liked the number 21 for some reason, like his girlfriend was 21 or so...or something similar.
And 21 is 3 x 7 . 7 is a popular number in the West:
"As an early prime number in the series of positive integers, the number seven has greatly symbolic associations in religion, mythology, superstition and philosophy. The seven Classical planets resulted in seven being the number of days in a week.[1] 7 is often considered lucky in Western culture and is often seen as highly symbolic."
https://en.wikipedia.org/wiki/7
My guess is the following:
Satoshi had to make a design for Bitcoin that made it future proof, even in case Bitcoin would be used worldwide by many people. So the total amount of units are 21 million Bitcoins, with 100 million Satoshies per Bitcoin. These are plenty of units, in case they are needed to satisfy demand.
Why now 21 million Bitcoins?
Maybe he just liked the number 21 for some reason, like his girlfriend was 21 or so...or something similar.
And 21 is 3 x 7 . 7 is a popular number in the West:
"As an early prime number in the series of positive integers, the number seven has greatly symbolic associations in religion, mythology, superstition and philosophy. The seven Classical planets resulted in seven being the number of days in a week.[1] 7 is often considered lucky in Western culture and is often seen as highly symbolic."
https://en.wikipedia.org/wiki/7
Re: How many times we will make the same mistake? - History repeats Again & Again!
I think a reasonable approach to investing in Bitcoin lets say 1000 USD is :
The worst what can happen is that you lose the 1000 USD.
The best what can happen is that you make possibly 350 x profit = 350 000 USD
So maybe worth the risk to invest in Bitcoin...
The worst what can happen is that you lose the 1000 USD.
The best what can happen is that you make possibly 350 x profit = 350 000 USD
So maybe worth the risk to invest in Bitcoin...
There is a psychological problem with Bitcoin pricing.
If you look at a share price for example Microsoft, and the price looks very high, lets say 2000 USD per share, then Microsoft can do a share split by 1/10, and suddenly the share price is now only 200 USD, and looks far cheaper than the 2000 USD before. For an invetsor it is still the same to have 1 old share for 2000 USD or 10 new shares for 200 USD each.
Bitcoin has not this option to split / look cheaper, so people will always worry if the current price is maybe too high, because of the high numbers
If you look at a share price for example Microsoft, and the price looks very high, lets say 2000 USD per share, then Microsoft can do a share split by 1/10, and suddenly the share price is now only 200 USD, and looks far cheaper than the 2000 USD before. For an invetsor it is still the same to have 1 old share for 2000 USD or 10 new shares for 200 USD each.
Bitcoin has not this option to split / look cheaper, so people will always worry if the current price is maybe too high, because of the high numbers
Re: Owner of 8K bitcoin lost in landfill threatens to bankrupt local council
Just think of the insane amount of labor that would be required to manually sift through every inch of ten plus years of accumulated garbage searching for a tiny little object.
i think the garbage dump kept computer records of what zones they put garbage in in different time periods so they could narrow the location down quite a bit and not have to search the entire garbage dump.Quote
Quote
How many months or years would it take? Is he going to do it by himself?
it wouldn't take very long if they were just looking in a small area. probably months at most.Doesn't matter how much money you throw at this wild goose chase at the end of the day, someone, or many someones, would have to manually sift through every square inch of the garbage in that zone. Who is going to do it? Even if they somehow narrowed it down to one zone of the landfill you're still talking about hundreds if not thousands of tons and years of accumulated garbage. No one in their right mind will want to perform such a ridiculous task. You would be exposing human beings to an extreme toxic environment. To call it inhumane would be an understatement as well as violating all kinds of labor laws and human rights violations.
Just hire ex military special forces, they are trained for extreme challenging stuff
Basically supply always meets demand in a market system.
Example: There are 10 bottles of water for sale at a price of 1 USD per bottle. Now 100 customer show up and want to buy a bottle of water.
What is the situation now: The customer start bidding for each bottle of water and the highest bidder gets 1 bottle and so on until all 10 bottles are sold. Supply meets demand at a certain price point
If you start to argue that you want for example a new car and like to pay only 5 USD per car, then of course there is a mismach between YOUR desired price point and the available supply of cars for sale at a market price.
Example: There are 10 bottles of water for sale at a price of 1 USD per bottle. Now 100 customer show up and want to buy a bottle of water.
What is the situation now: The customer start bidding for each bottle of water and the highest bidder gets 1 bottle and so on until all 10 bottles are sold. Supply meets demand at a certain price point
If you start to argue that you want for example a new car and like to pay only 5 USD per car, then of course there is a mismach between YOUR desired price point and the available supply of cars for sale at a market price.