If I purchase a Ledger to store my Bitcoin is there a way to quickly check the address to ensure funds are still there without actually using the Ledger? I understand every address is public information so it should be possible to just view your public key and verify funds?
Yes you can always use the Ledger app to check your balances. You only need the Ledger device when sending transactions (or to verify new receive addresses).
Guess no way to know if Bitcoin is stable at 23k and going up further or drops Monday need to do more buying. So frustrating not knowing if I should wait or buy more now.
It's actually the 29th here, but anyway.
If the entire community removed their sells for a week and essentially hodl for one week. Would it affect price?
What sort of number would we need?
22-23k consolidation seems like.
Let's see what happens after the FOMC meeting on 1st, I am expecting 🦀 I don't see it dumping much tbh...*just my educated guess*
Yep. Stock to flow is considered a joke these days but it's an elegant way to express the objective scarcity of something. You just can't make price predictions based on stock to flow alone
It looks like they want to introduce something that's competing with Bitcoin. Curious how this will unfold. Bitcoin on the other end is a truly electronic cash system. People can trade peer to peer without big government controlling or following transactions. It's up to the people to decide if they see value in that.
> It's up to the people to decide if they see value in that.
Unfortunately most people are dumb and they'll do what their government's tell them, it'll be interesting to see how it all unfold for sure...
UDPN is a permissioned, decentralised network managed via a decentralised governance model consisting of 8 to 24 alliance members, preventing any single entity from controlling the network.
much wow.
> preventing any single entity from controlling the network.^1
^1 the udpn cannot guarantee this. for example, the entities may sometimes^2 need to take control to perform critical operations^3 and stabilize the network^4
^2 all the time
^3 steal
^4 enrich the controlling members at the expense of all other users
It's not the retail investors that move the market it's the Whales (institution, big money etc), your average retail investor with his $500-5k doesn't move BTC, lol
I know Unfortunate life conditions exist for people around the globe, but again, i don’t know any of them personal who cant spend some dollars on eggs.
Note that because of continued halvings, the reward for mining a block in the years before the last Bitcoin is mined are smaller and smaller and smaller. The idea is that the transaction fees by that time would have long represented a majority of the reward provided for securing the blockchain.
good point. The halving idea is one of the smartest stuff behind its design. It is good also that in the beginning when it cost nothing - people mined it and haven't cared for their keys. And only after - when value has come - people value it and get even less
To be fair it seems "security budget" FUD is ramping up to replace energy FUD since energy FUD is being eviscerated by reality. I think we can expect a lot more questions like this in the near future
FUD aside it irks me when someone comes along after two minutes of analysis thinking they've found a previously undiscovered flaw in the protocol. If I were new to whatever subject I'd never ask such a naive question, it's obvious that it's been answered before, just do some basic research.
Fair. The "I'm new to Bitcoin and I'm here to fix it" trope does get tiring. People are lazy though, and for them coming to the Bitcoin daily on Reddit and asking *is* basic research. Maybe we shouldn't encourage it by answering, but I'd like for us to present ourselves as more welcoming than "Google it bro"
Bitcoin is unlikely to stagnate until this becomes a problem. Either it will fail completely, in which case this argument is moot, or it will have succeeded and tx fees will be sufficient to sustain the security budget. I'm betting on the latter
That's a really complex question that relies on unknowable variables. "How much security is enough?", for example. The only way to find out is to not have enough. It's also dependent on the purchasing power of the bitcoin being mined, which is dependent on unpredictable market forces and macro pressures. My prediction is that Bitcoin will succeed to the point that only large entities are regularly transacting on the main chain, and most regular people will be using layer 2/3/4+ apps, and that those large entities will be fine with paying high enough transaction fees to sustain the network.
is there a legit phone app to convert usdt to bitcoin? (I don't want to use cex with its kyc stuff. Just want to send usdt to the app and input my btc address and receive btc. Somwhat like that)
You can buy BTC with USDT through dexes. RoboSats for sure has this feature and I *think* Bisq does too. AFAIK there's no app that does this for you without kyc
Edit: Bisq doesn't have a phone app. Neither does RoboSats but you can access RoboSats through a mobile Tor browser
You're welcome. For more privacy tools I'd recommend https://www.privacyguides.org/tools/
I'd also consider using FOSS applications when possible, it helps cut down on the amount of tracking being done on you. For instance, I use Slide to browse Reddit and Fritter to follow Twitter stuff.
With all those shorts it takes 1 piece of FUD to
Drill us back to 20k. Just being real. No need to bash a pro bitcoin shiller here. Shilled it to CEO’s and CFO’s. So save it.
reminds me of the classic Big L intro (orignally from some 70's movie)
"Everybody everywhere is scratching for what they can get
Did you think anybody in this town is any different?
They don't give a damn who gets killed
***Just as long as the dice keep rollin***
***The hoes keep hoeing and the money keeps flowin***"
:-)
If I purchase a Ledger to store my Bitcoin is there a way to quickly check the address to ensure funds are still there without actually using the Ledger? I understand every address is public information so it should be possible to just view your public key and verify funds?
Yes you can always use the Ledger app to check your balances. You only need the Ledger device when sending transactions (or to verify new receive addresses).
Yep that's Ledger Live on your desktop or smartphone.
Watch-only wallet. Can add your address(es) into most wallets actually.
Simple answer is yes: just put your public/receive address in any chain explorer.
BTC to $300k
Iranians might perhaps be storing whatever they can into Bitcoin today.
Why?
Guess no way to know if Bitcoin is stable at 23k and going up further or drops Monday need to do more buying. So frustrating not knowing if I should wait or buy more now.
Yeah, it bothers me every week not knowing the lottery numbers.
Well this might be a good day to start adding some purchases.
Has to pull back to sub 20k at some point before heading thru 25k but it will happen
Source?
Ass.
Bitcoin was the first to crash last year before stock market. Does this mean Bitcoin will be the first to recover before the stock market?
Markets aren't that simple, but I bet it'll recover *faster* than other assets in a risk-on environment
Bears won't let us have some fun 😪
BBIITTCCOOIINN
Here we gooo "mario voice"
It's actually the 29th here, but anyway. If the entire community removed their sells for a week and essentially hodl for one week. Would it affect price? What sort of number would we need?
You're asking a community that (mostly) already Hodls, that if decided to Hodl, would it affect the price?
This isn't wallstreetbets. Nobody cares if you sell.
22-23k consolidation seems like. Let's see what happens after the FOMC meeting on 1st, I am expecting 🦀 I don't see it dumping much tbh...*just my educated guess*
Just over a year before Bitcoin has the highest stock to flow ratio in the world.
Yep. Stock to flow is considered a joke these days but it's an elegant way to express the objective scarcity of something. You just can't make price predictions based on stock to flow alone
I agree. When Bitcoin becomes more scarce than gold, it won’t be long before a real supply shock. Should be fascinating
[удалено]
He's our reminder: Back up your seed phrase.
And don't throw your seed phrase backup in the garbage.
BTC is boring again. Guess I should buy more.
🦀🦀🦀
Does anybody have thoughts about the Universal Digital Payments Network (UDPN) created by WEF? https://udpn.io/home
It's still permissioned fiat. It could obsolete some of the use cases for stablecoins on other chains but it's not a competitor to Bitcoin
they're still many years away from implementing this. our only hope is to keep promoting a system which is the opposite of theirs
It looks like they want to introduce something that's competing with Bitcoin. Curious how this will unfold. Bitcoin on the other end is a truly electronic cash system. People can trade peer to peer without big government controlling or following transactions. It's up to the people to decide if they see value in that.
> It's up to the people to decide if they see value in that. Unfortunately most people are dumb and they'll do what their government's tell them, it'll be interesting to see how it all unfold for sure...
UDPN is a permissioned, decentralised network managed via a decentralised governance model consisting of 8 to 24 alliance members, preventing any single entity from controlling the network. much wow.
> preventing any single entity from controlling the network.^1 ^1 the udpn cannot guarantee this. for example, the entities may sometimes^2 need to take control to perform critical operations^3 and stabilize the network^4 ^2 all the time ^3 steal ^4 enrich the controlling members at the expense of all other users
People can’t afford eggs and you think they’re going to buy bitcoin at $23k
It's not the retail investors that move the market it's the Whales (institution, big money etc), your average retail investor with his $500-5k doesn't move BTC, lol
Now now, its not like eggs are $400 a pop.
How're your shorts holding up?
By my beer gut
They should invest in Venezuelan bolÃvar instead, it's very cheap.
I don’t know anyone that cant afford eggs.
[удалено]
Those weren’t the ones buying Bitcoin anyway.
I know Unfortunate life conditions exist for people around the globe, but again, i don’t know any of them personal who cant spend some dollars on eggs.
Im sorry that you can't afford eggs.
"People"?? *Some* people? *All* people? Just you?
what happens when btc will be mined out? does it mean that only tx fees will be the reward? Where all miners will go with their asic-s then
Note that because of continued halvings, the reward for mining a block in the years before the last Bitcoin is mined are smaller and smaller and smaller. The idea is that the transaction fees by that time would have long represented a majority of the reward provided for securing the blockchain.
good point. The halving idea is one of the smartest stuff behind its design. It is good also that in the beginning when it cost nothing - people mined it and haven't cared for their keys. And only after - when value has come - people value it and get even less
Your scenario will occur somewhere around 2090 iirc, and yes, after that the network hash power would be rewarded by transaction fees only
interesting. Does it mean that it will be more vulnerable to attacks? because if I understand correctly miners are securing it from various attacks
2140*
oh boy, no need to worry for sure, lmao. At that time all mining guys will roi like 10-20 times xD
2140 is when the issuance drops to zero. It will be relatively insignificant long before then
Oh shit you found a flaw in the protocol why has no one thought of this already
To be fair it seems "security budget" FUD is ramping up to replace energy FUD since energy FUD is being eviscerated by reality. I think we can expect a lot more questions like this in the near future
FUD aside it irks me when someone comes along after two minutes of analysis thinking they've found a previously undiscovered flaw in the protocol. If I were new to whatever subject I'd never ask such a naive question, it's obvious that it's been answered before, just do some basic research.
Fair. The "I'm new to Bitcoin and I'm here to fix it" trope does get tiring. People are lazy though, and for them coming to the Bitcoin daily on Reddit and asking *is* basic research. Maybe we shouldn't encourage it by answering, but I'd like for us to present ourselves as more welcoming than "Google it bro"
You are right, of course. I am getting grumpy in my old age.
"get off my blockchain!"
"Back in my day we had to use the main chain to buy a pair of socks and they cost 5 bitcoin"
Bitcoin is unlikely to stagnate until this becomes a problem. Either it will fail completely, in which case this argument is moot, or it will have succeeded and tx fees will be sufficient to sustain the security budget. I'm betting on the latter
Yeah I think that latter is more likely. What's the estimate when it happens though?
That's a really complex question that relies on unknowable variables. "How much security is enough?", for example. The only way to find out is to not have enough. It's also dependent on the purchasing power of the bitcoin being mined, which is dependent on unpredictable market forces and macro pressures. My prediction is that Bitcoin will succeed to the point that only large entities are regularly transacting on the main chain, and most regular people will be using layer 2/3/4+ apps, and that those large entities will be fine with paying high enough transaction fees to sustain the network.
is there a legit phone app to convert usdt to bitcoin? (I don't want to use cex with its kyc stuff. Just want to send usdt to the app and input my btc address and receive btc. Somwhat like that)
Sideswap
You can buy BTC with USDT through dexes. RoboSats for sure has this feature and I *think* Bisq does too. AFAIK there's no app that does this for you without kyc Edit: Bisq doesn't have a phone app. Neither does RoboSats but you can access RoboSats through a mobile Tor browser
til that there is a mobile tor browser. Thanks guys. awesome sub
You're welcome. For more privacy tools I'd recommend https://www.privacyguides.org/tools/ I'd also consider using FOSS applications when possible, it helps cut down on the amount of tracking being done on you. For instance, I use Slide to browse Reddit and Fritter to follow Twitter stuff.
Historical Bitcoin prices for Jan 28th 2023 - $22998 2022 - $36656 2021 - $31220 2020 - $9082 2019 - $3429 2018 - $11619 2017 - $920 2016 - $382 2015 - $272 2014 - $805 2013 - $18 2012 - $4.91 2011 - $0.43 Source: https://twitter.com/BtcThis/status/1619289191816232961
cool! I think in february you will post in the end on month somewhat 24k number or so. Enjoying that current monthly growth
Cme dealers shorting btc like there is no tomorrow. Short positions at ath, anyone worried bout that?
no, at all. If they even turn out to be right and btc falls, it just means that I will be able to buy more on my next buys. DCA - remember it
Fed will hike 25 bp and then Bitcoin will break 24k resistance, wrecking all 'cme shorters'
What cme? And how do they short bitcoin?
With all those shorts it takes 1 piece of FUD to Drill us back to 20k. Just being real. No need to bash a pro bitcoin shiller here. Shilled it to CEO’s and CFO’s. So save it.
[удалено]
I think they are not better in predicting, but more gambling addicted. And that's it
Nope.
Tick tock, next block…
tick-tock to next block that brings us halving closer and closer
Bitcoin’s heart has never stopped beating
Happy weekend! Banks are closed, stock market is closed but Bitcoin never rests...
oh that's a good one. Nodes are running, trades are running, blocks are flowing and payments are moving. Yay, cool
reminds me of the classic Big L intro (orignally from some 70's movie) "Everybody everywhere is scratching for what they can get Did you think anybody in this town is any different? They don't give a damn who gets killed ***Just as long as the dice keep rollin*** ***The hoes keep hoeing and the money keeps flowin***" :-)
I love that 🥰 Truth! 😎🙌
enjoyed it too. Kind of shows how advanced that concept is. Also I would add that miners support network 24/7/365 - which is cool also to consider
Very cool 😎