Bitcoin update.

[Rock_Flock_of_Five]

Re: Bitcoin update.

They do as they are lending it out, that's how they pay interest.

That's a bit risky. As the OP stated.. "not your keys, not your coins". They get hacked, you'll wave goodbye to your Bitcoin.

Except for my Polkadot, all my staked coins have the keys securely held on my Ledger Nano S.
My Polkadot coins are staked on Kraken exchange but I have a whiteaddress - this means that even if the exchange gets hacked, the coins can only be sent to an address owned by me (my Ledger).
Check to see if that exchange you are using has a similar feature.

[AlwaysAway2]

Re: Bitcoin update.

They do as they are lending it out, that's how they pay interest.

This is more than risky.
Not your keys not your coins.

Who do you complain to if they don't give them back. Exchanges can and will go bust.

There are many people that think they own bitcoin that are being defrauded.

Of that I am certain

Not your keys not your coin.

Bottlepay is a good starting place for smaller investors.

Do your own research.

[Eric Cartman]

Re: Bitcoin update.

Has anyone tried to withdraw money from their Bitcoin wallet? Was it easy? Do you get your cash immediately?

Well sometimes moving funds from wallet to exchange (on the blockchain' takes a little while but some exchanges now pay withdrawals almost instantly. Coinbase is in your bank in seconds if you have faster payments but the fees are huge. Tried a withdrawal on kraken recently and that was fast.

[Rock_Flock_of_Five]

Re: Bitcoin update.

Well sometimes moving funds from wallet to exchange (on the blockchain' takes a little while but some exchanges now pay withdrawals almost instantly. Coinbase is in your bank in seconds if you have faster payments but the fees are huge. Tried a withdrawal on kraken recently and that was fast.

Today is the day that Coinbase gets listed on the NYSE. They are being listed for $100 billion.
Hats of to Coinbase for achieving that. Taking into consideration their Customer Service is non-existent, their platform is always going down when Bitcoin has major price action, it is full of glitches, they have the most limited amount of coins to choose from, they give poor rates and their fees are the highest there are. I avoid them at all costs these days.

[Toadstool]

Re: Bitcoin update.

Today is the day that Coinbase gets listed on the NYSE. They are being listed for $100 billion.
Hats of to Coinbase for achieving that. Taking into consideration their Customer Service is non-existent, their platform is always going down when Bitcoin has major price action, it is full of glitches, they have the most limited amount of coins to choose from, they give poor rates and their fees are the highest there are. I avoid them at all costs these days.

So avoid Coinbase - ok - what about crypo.com and Bottlepay?

[Rock_Flock_of_Five]

Re: Bitcoin update.

So avoid Coinbase - ok - what about crypo.com and Bottlepay?

I really cannot comment on those two, I have never used them.
Perhaps I was being a little harsh on Coinbase. They are in fact the first port-of-call for most people getting into cryptocurrencies. Their platform interface is very user-friendly. The other exchanges, such as Binance, offer a far bigger selection of coins but can be a little daunting for any newbie.

[Wash DC Blue]

Re: Bitcoin update.

I use Coinbase.
Pissed off that I sold 2k at around 30k.

Still doing well with it though over the last 3 years.
It is still very much in its infancy.
I would certainly recommend buying a little bit here and there (what you can afford to lose).

[OurManFlint II]

Re: Bitcoin update.

Has anyone tried to withdraw money from their Bitcoin wallet? Was it easy? Do you get your cash immediately?

You also have ATM's where you can buy and sell instantly, not sure what limits exist.

[Eric Cartman]

Re: Bitcoin update.

I think this 'not your keys not your coins' mantra has some merit (in the sense that people should be aware of any risk) but it's a blocker to adoption and scares newbies from getting involved. The future of crypto is not about appealing to a few people who stuff cash under their mattress because they don't trust banks, it is going to depend on the crypto space creating further protections against fraud (rugs, hacks etc.) to ensure crypto and defi isn't a scary place to be.

[OurManFlint II]

Re: Bitcoin update.

This is more than risky.
Not your keys not your coins.

Who do you complain to if they don't give them back. Exchanges can and will go bust.

There are many people that think they own bitcoin that are being defrauded.

Of that I am certain

Not your keys not your coin.

Bottlepay is a good starting place for smaller investors.

Do your own research.

well aware, bought my first btc around 2013/14 with 20 euros.
With today's prices that Macbook i bought from Overstock is probably the equivalent of a small apartment and the amount of grass routes and good causes I've given too, they'll probably build a statue of me.

Gave loads once to the Kurd's for a farming project in Rojava, if they sat on that they could probably buy a nuclear warhead. And god knows what i spent on the silk road

My stash isn't anywhere near what it used to be but i have no regrets and still try to use BTC as alternative whenever available.

If people are interested in serious investment Simon Dixon does great stuff https://bnktothefuture.com/

[jon1959]

Re: Bitcoin update.

https://www.independent.co.uk/climate-change/news/bitcoin-environment-mining-energy-cryptocurrency-b1819545.html

'Cryptocurrency now uses nearly as much electricity as Argentina'.

[Poolerblue]

Re: Bitcoin update.

I’ve just spoken to the barmaid at my local and she just confirmed that when they reopen I can’t buy my lager with Bitcoin

Also the local Ladbrokes refused to let me pay for my 50p each way patent with a crypto currency

And alas the greggs down the road scoffed at my suggestion that I pay for my steak bake with the keys to my bread wallet

I don’t think crypto currency’s are the way forward for me so I’m out!!

[OurManFlint II]

Re: Bitcoin update.

https://www.independent.co.uk/climat...-b1819545.html

'Cryptocurrency now uses nearly as much electricity as Argentina'.

They've been living the dark since 1921. If ever a country needed to get away from the central banking cartel and use Bitcoin, it's them.

But on a serious note, these all feel like paid for articles and its just a bit arbitrary. The crime smear hasn't worked, try something else.

I've seen many of these before, london underground escalators can power wales. A starbucks coffee supply chain is the equivalent of 30 mobile phones charging for a year. Imagine how much electricity it cost to make all the Easterenders shows, and then add all the electricity from those people who watched it...people want to talk about waste, let's do it

[OurManFlint II]

Re: Bitcoin update.

I’ve just spoken to the barmaid at my local and she just confirmed that when they reopen I can’t buy my lager with Bitcoin

Also the local Ladbrokes refused to let me pay for my 50p each way patent with a crypto currency

And alas the greggs down the road scoffed at my suggestion that I pay for my steak bake with the keys to my bread wallet

I don’t think crypto currency’s are the way forward for me so I’m out!!

Probably wouldn't be able to use US or Canadian Dollars either, or Gold and precious metals. If its not for you, that's fine