|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
About 20% of Bitcoin value / wallets are locked for good ....due to lost passwords / email addys. How much is 1 Bitcoin worth when you lose your password? Same amount your cash is worth when you loose your wallet. Except it's more like losing an entire bank account than just walking around money? I'm BY FAR no expert on the subject but I think there is some confusion in that you don't have to own a whole Bitcoin worth 50k plus. You can own really small fractions and essentially put in as many dollars worth as you want. So, like you probably would not walk around with $50k in your physical wallet, someone likely would not walk around toting a phone or whatever that stored whole bitcoins. That's correct, you can buy very small amounts of Bitcoin. Most people will have at least one cold wallet that stores the keys to most of their crypto, instead of leaving it online where it might be vulnerable to attack.
|
|
|
|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
Bitcoin is no better than Paper Money and Paper Money is only worth something if People believe it is worth something. In reality it really is just Paper nothing more. Beliefs can be destroyed in less than a day. Same goes for Bitcoin it’s only value is belief. Not really. First off paper money can be counterfeited, and more can be printed at any time in any quantity. Bitcoin has a limited supply.
|
|
|
|
|
Joined: Oct 2010
Posts: 7,732 Likes: 8
Campfire Outfitter
|
Campfire Outfitter
Joined: Oct 2010
Posts: 7,732 Likes: 8 |
I wish you password fairies were more motivated to learn before posting. There is no such thing as a “Bitcoin password”. Just because you read about that in the Jew York Times doesn’t make it so, they have no idea what they are talking about either. What people are “losing” is the password to the software they use to secure their wallet’s private key. For people who are open to learning this risk is easily mitigated. A person can create a wallet at a place like Bitcoin Paper Wallet, print it on literal paper, and put that in a safe. That document has the wallet’s public key which can be shown to someone who wants send BTC to it, and the private key that can be used to transfer it out. The fearful among you are likely correct though. If you are dumb enough to lose the password to the software that stores your key, lose the password to the backup, lose the printed paper wallet, and lose the seed words to restore the keys....Bitcoin is probably not for you and you should eat your dinner with a spoon so you don’t end up with a fork in your eye.
|
|
|
|
|
Joined: Oct 2006
Posts: 2,204
Campfire Regular
|
|
Campfire Regular
Joined: Oct 2006
Posts: 2,204 |
I invested in XRP-Ripple
Great value at .50 cents
I sold my XRP, will wait to see how the SEC lawsuit turns out. It has managed to hold on better than I expected though. It sure has. Quite a few of my buddies are buying it because of the cost
|
|
|
|
|
Joined: May 2009
Posts: 5,628
Campfire Tracker
|
|
Campfire Tracker
Joined: May 2009
Posts: 5,628 |
I wish you password fairies were more motivated to learn before posting. There is no such thing as a “Bitcoin password”. Just because you read about that in the Jew York Times doesn’t make it so, they have no idea what they are talking about either. What people are “losing” is the password to the software they use to secure their wallet’s private key. For people who are open to learning this risk is easily mitigated. A person can create a wallet at a place like Bitcoin Paper Wallet, print it on literal paper, and put that in a safe. That document has the wallet’s public key which can be shown to someone who wants send BTC to it, and the private key that can be used to transfer it out. The fearful among you are likely correct though. If you are dumb enough to lose the password to the software that stores your key, lose the password to the backup, lose the printed paper wallet, and lose the seed words to restore the keys....Bitcoin is probably not for you and you should eat your dinner with a spoon so you don’t end up with a fork in your eye. Yep. I use Coinbase and put my password in my safe. Coinbase is kind of expensive but I felt very safe with each of my 3 transactions.
|
|
|
|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
I wish you password fairies were more motivated to learn before posting. There is no such thing as a “Bitcoin password”. Just because you read about that in the Jew York Times doesn’t make it so, they have no idea what they are talking about either. What people are “losing” is the password to the software they use to secure their wallet’s private key. For people who are open to learning this risk is easily mitigated. A person can create a wallet at a place like Bitcoin Paper Wallet, print it on literal paper, and put that in a safe. That document has the wallet’s public key which can be shown to someone who wants send BTC to it, and the private key that can be used to transfer it out. The fearful among you are likely correct though. If you are dumb enough to lose the password to the software that stores your key, lose the password to the backup, lose the printed paper wallet, and lose the seed words to restore the keys....Bitcoin is probably not for you and you should eat your dinner with a spoon so you don’t end up with a fork in your eye. Yep. I use Coinbase and put my password in my safe. Coinbase is kind of expensive but I felt very safe with each of my 3 transactions. You using Coinbase or Coinbase Pro? The Pro version has much cheaper fees, and transferring your stuff over to Pro is very simple.
|
|
|
|
|
Joined: Oct 2006
Posts: 2,204
Campfire Regular
|
|
Campfire Regular
Joined: Oct 2006
Posts: 2,204 |
|
|
|
|
|
Joined: May 2008
Posts: 5,185 Likes: 7
Campfire Tracker
|
|
Campfire Tracker
Joined: May 2008
Posts: 5,185 Likes: 7 |
About 20% of Bitcoin value / wallets are locked for good ....due to lost passwords / email addys. How much is 1 Bitcoin worth when you lose your password? Same amount your cash is worth when you loose your wallet. Until someone finds your wallet. What's the likelihood that someone will stumble across your lost password?
|
|
|
|
|
Joined: Mar 2010
Posts: 24,291 Likes: 12
Campfire Ranger
|
|
Campfire Ranger
Joined: Mar 2010
Posts: 24,291 Likes: 12 |
I wish you password fairies were more motivated to learn before posting. There is no such thing as a “Bitcoin password”. Just because you read about that in the Jew York Times doesn’t make it so, they have no idea what they are talking about either. What people are “losing” is the password to the software they use to secure their wallet’s private key. For people who are open to learning this risk is easily mitigated. A person can create a wallet at a place like Bitcoin Paper Wallet, print it on literal paper, and put that in a safe. That document has the wallet’s public key which can be shown to someone who wants send BTC to it, and the private key that can be used to transfer it out. The fearful among you are likely correct though. If you are dumb enough to lose the password to the software that stores your key, lose the password to the backup, lose the printed paper wallet, and lose the seed words to restore the keys....Bitcoin is probably not for you and you should eat your dinner with a spoon so you don’t end up with a fork in your eye. Yep. I use Coinbase and put my password in my safe. Coinbase is kind of expensive but I felt very safe with each of my 3 transactions. coinbase pro works well for me too
Last edited by ribka; 02/19/21.
|
|
|
|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
Wouldn't be surprised to see it at 60 thousand next week.
|
|
|
|
|
Joined: Nov 2015
Posts: 523
Campfire Regular
|
|
Campfire Regular
Joined: Nov 2015
Posts: 523 |
Wouldn't be surprised to see it at 60 thousand next week. Reached 57k today.
|
|
|
|
|
Joined: Jan 2001
Posts: 29,914 Likes: 10
Campfire Ranger
|
|
Campfire Ranger
Joined: Jan 2001
Posts: 29,914 Likes: 10 |
Can one spend such when the power is off in central Montana?
1Minute
|
|
|
|
|
Joined: May 2010
Posts: 6,659
Campfire Tracker
|
|
Campfire Tracker
Joined: May 2010
Posts: 6,659 |
|
|
|
|
|
Joined: May 2010
Posts: 6,659
Campfire Tracker
|
|
Campfire Tracker
Joined: May 2010
Posts: 6,659 |
|
|
|
|
|
Joined: Nov 2015
Posts: 523
Campfire Regular
|
|
Campfire Regular
Joined: Nov 2015
Posts: 523 |
Wouldn't be surprised to see it at 60 thousand next week. Reached 57k today. 58k today
|
|
|
|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
Wouldn't be surprised to see it at 60 thousand next week. Reached 57k today. 58k today My accounts are in Canadian dollars so it makes it look e even better, 72k today! Ethereum has had a strong week too, I'm hoping that continues, got more riding on that than I do BTC
|
|
|
|
|
Joined: Oct 2010
Posts: 7,732 Likes: 8
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Oct 2010
Posts: 7,732 Likes: 8 |
Bought more due to the below. I admit I don't know what "extractive" means in this context but I think it is something I would approve of. Let the marginalized people keep building houses out of sticks and mud like muskrats. But 28k BTC ($1.6BB worth) moved into public exchanges today. Probably going to hold down price as it is almost certainly to sell. ![[Linked Image from i.ibb.co]](https://i.ibb.co/0QLdbPN/Bought-More.jpg)
|
|
|
|
|
Joined: Jan 2017
Posts: 216
Campfire Member
|
|
Campfire Member
Joined: Jan 2017
Posts: 216 |
Buy Mirror Protocol (Mir)
You're Welcome
|
|
|
|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
Buy Mirror Protocol (Mir)
You're Welcome Its definitely interesting, SNX is kinda similar and has done quite well so Mir could definitely be a good pick. Where are you buying?
|
|
|
|
|
Joined: Dec 2013
Posts: 13,130 Likes: 7
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Dec 2013
Posts: 13,130 Likes: 7 |
I am not feeling so smart about keeping my crypto investments that I should have sold last week. It's hard to jump off of a rocket ship.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
|
|
|
|
|
675 members (1minute, 17CalFan, 160user, 1badf350, 1beaver_shooter, 1234, 63 invisible),
3,312
guests, and
1,217
robots. |
|
Key:
Admin,
Global Mod,
Mod
|
|
|
Forums81
Topics1,192,962
Posts18,499,194
Members73,983
| |
Most Online11,491
Jul 7th, 2023
|
|
|
|
