Incidentally, what is current best practice for converting BCH without compromising the equivalent bitcoin addresses not linked to identities?

In other words how do people convert BCH without giving away the identity of thee corresponding bitcoin?

You are absolutely right despite too many here pretending it's simple.

It's not. It's not like opening a bank account which is something most people understand.

Wallets like electrum ARE intimidating to newbies. Hell even the seed phrase isn't portable. And in any wallet what is a change address!? There's nothing intuitive about these things we all understand.

The best way to do it is to keep it simple. Just the seed phrase: but then as soon as you need to send coin someone gives you an address - not a phrase. So what's an address and why is there more than one? Similarly you need to give an address to receive coin. And you get a different one each time you ask.. Huh?

Then people are told to have a Watch Only wallet. But it doesn't have a seed phrase. It has an xpub generated from your seed phrase. Well WTF is that!?

So yes. Houston we have a problem with usability which makes it unintuitive and in many cases beyond what some people want to try to understand. Solving these will increase adoption.

This is a great concept and I hope the execution will be of the same quality as their passport hardware wallet.

It's great to see real innovation in this space and I wish them well. Having watched the video I like what I see, but I'll also now spend more time to understand it in detail.

I'd suggest it's a hardware wallet that is marketed as being a step above (or beyond) existing hardware wallets.

I think the passport is great, so I'm not sure how they significantly surpass that.

What a happy coincidence that one new user had a question and two other new users answered it by recommending an exchange.

It's as if they all arrived here with this in mind...

Yes it's a fascinating observation. That a bitcoin is worth more than a kg of gold. How far we've come.

I see through that you're getting lots of replies that are disagreeable with nothing significant to say. Over the years some things never change.  

There are problems with the solution that people suggest which involve handing over keys, seed phrases etc. to your beneficiaries.

To be clear, you shouldn't give your beneficiaries or lawyers access to your wallets.

Why?

First, most people do not have good security practices. We might have but our beneficiaries do not, so there is a risk of loss or theft once they have it.

Secondly, there is a risk that they may have a gambling or drug problem. Or someone in their life who convinces them to take it now. Or the lawyer you get to hold the keys - takes the coin.

Oh I didn't build it!

https://www.bitcoincyclescomparison.com/

Is it possible that the pattern of cycles no longer applies or is at the very least diminishing to a point where its effect is not significant?

Wow.

Another post offering astrology up as financial analysis. 😀

I agree. And it is frustrating to see so many who don't recognise it as the hard asset it is: fleeing it quickly when under pressure.

I believe a time will come when most investors sell it last, not first.

Yes I'm sure that is a significant factor. And yet it's also considered a long term asset, so jumping out when the market moves (as it will of course) seems odd.

No, I'm looking for a discussion around the slides in other markets which cause sell-offs of bitcoin.
It feels like bitcoin is oversold whenever other markets hit a rough patch.

I didn't say 24/7 trading is a downside.

I wrote that the ease of conversion - including when other markets are closed - can result in price drops in situations where people need to cover a loss. It's an artefact of the financial system it sits in.

I don't think you're capable of understanding the nuance of this discussion, unfortunately.

I said liquid asset and your argument initially is that I don't understand liquidity. Followed by you comparing cash to a liquid asset. Wait - what? Cash IS liquid.

Then you finish your misunderstanding by explaining the upside that bitcoin can be traded so easily. I wonder if another word for that might be - liquid? Yeah that's it.

You seem to want to score points rather than discuss which is frustrating.


English doesn't appear to be your first language, so let me explain: compared to stocks, gold and foreign exchange - bitcoin had for many years been an asset that the financial sector has considered relatively 'new' and struggled to price.


Again - please read the original post instead of arguing with a point I didn't make. Bitcoin is affected (for example) when any collapse results in forced sell off of bitcoin assets. I didn't say it was affected by the price movement of altcoins themselves.

For most of bitcoin's existence, what appears to be volatility is just the market trying to determine the price of a new asset. But even as it's become more widely adopted it seems that the biggest downward driver on price is bitcoin's liquidity.

It can be so instantly and easily turned into cash. 24x7. So anyone financially compromised turns to their most liquid asset: bitcoin.

When markets drop in property, stocks, forex or even altcoins - bitcoin drops. From FTX to Japan raising interest rates just a quarter of a percent. A lot of people turn their bitcoin into dollars and there's a dip.

Worse, because it's expected now, people sell to avoid the paper loss.

I'm interested to hear people's views on this trend and if, how and when the pattern might be broken.

And is particular, has it kept bitcoin's price lower than it otherwise would be, or are prices recoveries 'complete'?

So fees increase to preserve rough profitability?

Just wondering if anyone has noticed a trend of longer block times when the price drops. I presume some proportion of miners become unprofitable. And that of those - some might need to convert to fiat in the short term to cover costs and so pause mining.

You're attributing bitcoin rises to you party politics? So this fallback again is the current administration's fault.

American politics is a cesspool controlled by money and the media and lobbies that it pays for. Believing any candidate is perfect marks someone as paid or deluded.

Regardless could you take your injection of party politics into bitcoin to reddit where it belongs?

Have a nice day!