questions about bitcoin

[fdsa]

3 minutes ago, Surelynot said:

If I even had the vaguest notion of what I was talking about I would respond......."better to keep quiet and have people............. "you know the rest.

I don't understand what you mean, could you elaborate please?

 

[Surelynot]

1 minute ago, fdsa said:

I don't understand what you mean, could you elaborate please?

 

The last bit?

"Better to keep quiet and have people think you are a fool than to speak and have it confirmed"

Quiet an old saying....I've corrupted it.....this is the original....

Better to remain silent and be thought a fool than to speak and to remove all doubt.

[fdsa]

still don't understand. Are you claiming that Bitcoin mining algorithm is the best of all cryptocurrencies, and that wasting $8000 USD worth of electricity to generate 1 Bitcoin block is totally justified?

 

[Surelynot]

1 minute ago, fdsa said:

still don't understand. Are you claiming that Bitcoin mining algorithm is the best of all cryptocurrencies, and that wasting $8000 USD worth of electricity to generate 1 Bitcoin block is totally justified?

 

Are you reposing to me?..........No I'm not.......am I right in assuming English is not your first language?

[fdsa]

yes, it's not.

Could you please describe in simple English why you assume me being stupid for claiming that Bitcoin sukcs?

I use it since circa 2012, know how it works internally so I can back up my words with facts, what about you?

If you was speaking about yourself then I'm sorry for misunderstanding.

Edited March 19, 2021 by fdsa

[jack71]

On 3/13/2021 at 2:29 PM, Heng said:

Just write it down.   It's what is known as a paper wallet.   Don't keep all 24 words in one place as anyone can simply plug those into a new wallet and have access to your funds.   

Not if you had previously set up a 25th 'passphrase' word thats not written on that piece of paper with the other 24 words. This is a feature of trezor hardware wallets and highly recommended. 

[jack71]

To answer OPs question he/she should register at any crypto exchange (eg bitkub) and link your bank account. Transfer funds to your bitkub wallet.. Buy bitcoin. Buy a trezor hardware wallet and add the 25th passphrase word. Dont put that 25th word with the other 24 words. Never forget it. Transfer your bitcoin from bitkub to trezor. Wait 5 yrs and sell. 

[Nanaplaza666]

21 hours ago, BananaBandit said:

I just wanted to start somewhere small. I'm trying to instill my wife with a sense of a financial responsibility. 

If she can keep the money inside the bitcoin wallet, then I might add an extra 1,000 baht or so somewhere down the line.

5555555 so 3000baht that's your goal .

[bkk6060]

On 3/18/2021 at 5:39 PM, BTB1977 said:

Bought mine back in 2013-14. Kind of a novelty.  Have it in what they call an E wallet or something like that.  Waiting for a rainy day to sell. Hoping to double my money if I'm lucky. 

Don't sell.

When it hit $1,000 people laughed. $500,000 by 2030 is possible.

Edited March 19, 2021 by bkk6060

[Heng]

4 hours ago, jack71 said:

Not if you had previously set up a 25th 'passphrase' word thats not written on that piece of paper with the other 24 words. This is a feature of trezor hardware wallets and highly recommended. 

Everyone's needs are going to be different.   For one's own lifetime (which can end at any time) the 25th passphrase works great.   If you plan to leave your trezor or any other data type assets to the next generation, it really should be written down somewhere.   I plan to live to 90 or so, but I can just as easily ski into a crevasse as soon as borders open.  

[bartender100]

Forget BC.

 Earth2 is where the next big money will be made, and NFTs (Non-fungible token) which will be in Earth2

[fdsa]

1 hour ago, bartender100 said:

Forget BC.

 Earth2 is where the next big money will be made, and NFTs (Non-fungible token) which will be in Earth2

simple HYIP with gamification, will last for few months. If you are lucky - you will profit.

[bartender100]

On 3/19/2021 at 1:20 PM, fdsa said:

simple HYIP with gamification, will last for few months. If you are lucky - you will profit.

You could be right, but I have a feeling this is something different, they had such a response when Dubai opened last night up for tiles, their severs crashed. They sold 1.6 million tiles in 20 seconds.

 

The price went from 20 cents to $4 by this morning (Sunday)

 

I am already in a good profit on paper, but could sell now if i wanted, in 2/3 years time if this does survive tile prices will be in the $100s. Remember $100 in BC 10 years ago is worth 75 million

 

 

 

[BananaBandit]

On 3/19/2021 at 8:04 AM, bartender100 said:

Earth2 is where the next big money will be made

Can you purchase this at Coins.co.th ?

[metisdead]

A post with a link to a YouTube site spamming the sale of Bitcoin has been reported and removed.

[patman30]

if anyone actually wants to see what bitcoin can do
install handcash
DM me your handle
and i will send you some to play with

[bartender100]

On 3/22/2021 at 1:58 AM, BananaBandit said:

Can you purchase this at Coins.co.th ?

No, it's though their website

 

They revealed that last Saturday 2 million people logged into the site to buy tiles in Dubai, and this project is still in stage one

 

DYOR please this is not a quick get rich

[bartender100]

On 3/22/2021 at 1:58 AM, BananaBandit said:

Can you purchase this at Coins.co.th ?

BTW its not a coin yet!

[tifino]

10 minutes ago, bartender100 said:

BTW its not a coin yet!

... more a coined phrase!

[fdsa]

17 hours ago, patman30 said:

if anyone actually wants to see what bitcoin can do
install handcash
DM me your handle
and i will send you some to play with

 

WARNING!!! IMPORTANT INFORMATION:   this app uses "Bitcoin SV" cryptocurrency which is NOT the same as "original" Bitcoin! You will lose your coins if you try to replenish that app "wallet" with Bitcoin, you have to use "Bitcoin SV" instead.

[ctxa]

On 3/19/2021 at 11:36 AM, fdsa said:

true only for the outdated software with suboptimal algorithms, such as Bitcoin or Ethereum. I am mining "another" cryptocurrency on 6 watt Intel Atom CPU, and there are many better alternatives. DYOR, YMMV 

 

Sure, it has some relation to the suboptimal algorithms such as Bitcoin or Ethereum, not denying the fact. But it mostly depends on mining difficult, and you know that for Bitcoin, mining difficulty is adjusted every 2016 blocks. Now of course, Bitcoin being the most popular one, a lot of people has mined/mines it, and a hell lot of blocks have already been discovered, so it's only obvious the mining difficulty is the highest of them all! Back in the day you could also mine Bitcoin with a Pentium 4 and earn much more money than you would today mining with a Pentium 4. 

 

If you mine some <deleted>coin which has just launched into the market, obviously you can make more money mining with an Intel Atom than you would mining Bitcoin with the same CPU. Sure the algorithm is better, but the keypoint is the mining difficulty is much lower.

 

Edited March 30, 2021 by ctxa

[fdsa]

... I forgot to mention that I am mining a PoS coin :biggrin:

You are correct about old-style PoW coins however there are algos where is no such thing as "difficulty" and all you need to mine coins is a computer, which could be a really weak one. For some coins you do not even need to buy any amount of coins to stake.

[Exploring Thailand]

On 3/18/2021 at 11:54 AM, fdsa said:

you could sell anywhere you want. Many people profit from buying coins on large exchanges and reselling them to other people on peer-to-peer exchanges with 3-10% higher rate.

Why do people buy on peer-to-peer exchanges at a 3-10% premium?  Are they people who can't, for some reason, get an account at a larger exchange?

[fdsa]

1 hour ago, Exploring Thailand said:

Why do people buy on peer-to-peer exchanges at a 3-10% premium?  Are they people who can't, for some reason, get an account at a larger exchange?

there are people like me who don't want scans of their passports to appear on darknet marketplaces after another cryptocurrency exchange gets hacked.

of all large exchanges I'm registered on Binance only because all information they want is an email address.

[alocmrlj]

5 hours ago, fdsa said:

there are people like me who don't want scans of their passports to appear on darknet marketplaces after another cryptocurrency exchange gets hacked.

of all large exchanges I'm registered on Binance only because all information they want is an email address.

don't be surprised if you have to do KYC on Binance even if you are transferring less then 2BTC per day as their requirements states for non verified accounts...I'm talking about first hand experience here

[fdsa]

5 hours ago, alocmrlj said:

don't be surprised if you have to do KYC on Binance even if you are transferring less then 2BTC per day as their requirements states for non verified accounts...I'm talking about first hand experience here

share your experience please.

 

I've transfered less than 2 BTC from Binance and never transferred or cashed out fiat — I use Binance for staking shítcoins only. Possibly they want KYC AML WṬF when you use fiat?

 

 

[alocmrlj]

3 hours ago, fdsa said:

share your experience please.

 

I've transfered less than 2 BTC from Binance and never transferred or cashed out fiat — I use Binance for staking shítcoins only. Possibly they want KYC AML WṬF when you use fiat?

 

 

traded some shítcoins on BTC and USDT pair, withdraw occasionally to ETH/BSC chain for yield farming . Never touched FIAT or any FIAT pair for that matter. Randomly at one withdrawal my account got limited and withdrawal denied. I had this account since 2017. 

Only way to get back withdrawal option was by doing KYC first. 

Edited April 30, 2021 by alocmrlj

[fdsa]

On 4/30/2021 at 3:40 PM, alocmrlj said:

traded some shítcoins on BTC and USDT pair, withdraw occasionally to ETH/BSC chain for yield farming . Never touched FIAT or any FIAT pair for that matter. Randomly at one withdrawal my account got limited and withdrawal denied. I had this account since 2017. 

Only way to get back withdrawal option was by doing KYC first. 

wait, I've just got a thougth - have you been using a VPN or was directly connecting to Binance website?

 

I believe that exchanges flag customers who use public VPN services instead of a personal server or home internet provider.

Edited May 3, 2021 by fdsa

[ukrules]

On 4/30/2021 at 3:40 PM, alocmrlj said:

Only way to get back withdrawal option was by doing KYC first. 

 

Do the KYC then, bit of a pain but I'm sure it can be done. I did a KYC procedure with MtGox years ago, required 'official' translations of various documents proving my address, etc which I managed to put together before they would process my wire transfer.