The Bubbly Bitcoin Thread -- Merged Threads

[BufferBear Bitcoin Bull]

On 11/08/2023 at 15:11, Warlord said:

I've ordered a hardware wallet.

I can't believe im doing this... 🤡

"Welcome to the Dark side"? 

 

@MonsieurCopperCrutch @markyh

 The issue @markyhreferred to was a previous hack which was fixed.  Trezor is decent enough but I would suggest you add a passphrase so there is no single point of failure. Understand what this is before you launch in.

Ledger is more of a concern since they planned on splicing the seedphrase as a back up with 3 companies.  It goes against the complete ethos of bitcoin - self-sovereignty.  This places your funds at risk if they are ever subpoenaed.  Ledger have pulled back on this 'service' following massive pushback but it may return.  

Coldcard is my preferred HWW but is not a 'beginner's' wallet unless technical.

Blockstream Jade, Foundation Passport, SeedSigner are all accepted as good HWW.

On 12/08/2023 at 03:38, Warlord said:

Yes. There are loads of good options for this now

BTC Pay Server . looks great !

 

On 12/08/2023 at 10:02, scottbeard said:

There’s never any shame in carefully weighing up information and changing your mind about something.

💯 and shows courage.

On 12/08/2023 at 11:49, Warlord said:

Hey @markyhI got the Trezor h/w wallet. I want to be secure and off the laptop really. I just like to have something physical 

Are they any good ?

I have used Trezor T, Ledger X & Nano, and CC - all multi-sig.

Always verify the address when spending funds.

On 12/08/2023 at 11:59, markyh said:

I have both a Trezor and a Ledger from 2018.  Both worked fine.  Might have been an issue with Trezors in the past, something bugging me. Google it.  I think there used to be a potential hardware hack it bad actors could physically get hold of it.  As far as remote hardware wallet off PC storage goes, both work fine. 

See above

On 12/08/2023 at 13:30, sackot said:

Thumbs up to BTC Pay and a hardware wallet, I hadn't guessed you'd be wanting to get into the nitty-gritty.

You didn't mention what size or frequency of payments would be involved. If small and frequent, you must be set up to use Lightning. Unfortunately that requires a hot wallet, which will need to be swept often to your hardware wallet so you don't leave too much online.

If payments are larger on-chain should be fine for now but I do expect the fees to increase over time. Also, one of the commonest complaints from customers who expect the fee to be constant is "service X just charged me large fee Y WTF?".

 

Very important points.  I have less knowledge on how business incorporate bitcoin into business but use of the LN is a must.

On 12/08/2023 at 15:07, Lenelby said:

I received an email from HSBC this week stating limits for sending money to crypto exchanges (no limit for receiving). I thought this was at least quite promising as before the indications were that they banned them. They wouldn’t even allow you to buy public shares in any crypto company which was just absurd.

I never had issues with HSBC myself although I sent via a clearing bank to an overseas exchange and, apart from last month, have not tried to do this for a long time. I’m happy that they are no longer threatening to close accounts for sending or receiving payments though.

Not necessarily good although it may feel like progress.  Given the lack of liquidity in the banking sector (Silverbank, Signature etc) and broader reasons (inflation etc) my sense is the banking sector is attempting to frustrate the flow of funds out of tradfi into bitcoin.  

On 12/08/2023 at 16:08, Warlord said:

I'm going to use BTC Pay and put mine onto the wallet not advising customers to do that. 

It's for storage 

F**k third parties. I dont trust any of them 

Don't trust, verify is the bitcoin mantra.  We've seen all the blow ups.  Why even introduce counterparty risk when you can be your own bank.

On 12/08/2023 at 21:54, MonsieurCopperCrutch said:

Wait, what? You are buying Bitcoin now!!!! What happened to your sick gainzzz gold fanboism? 

Just buy on Kraken. No app required. But get a hardware wallet at least to store them offline. 

WELCOME BACK TO THE FOLD!!!

 

 

💯

On 16/08/2023 at 17:39, Bear Necessities said:

It was so much worse than that.  He spent 10,000 bitcoin on 2 Papa Johns pizzas (woth $40 at time I think)

 

OUCH.

Lazlo doesn't regret it.  It was important to demonstrate that bitcoin could be used by retail to purchase goods and services.

https://www.coindesk.com/markets/2020/05/22/10-years-after-laszlo-hanyecz-bought-pizza-with-10k-bitcoin-he-has-no-regrets/

[BufferBear Bitcoin Bull]

BTC pay Server is supported by OGs as it is open source.  Has a very good reputation.

I met Ben (BTC Sessions) last week at a bitcoin meet up. 🤩

 

 

 

Edited August 23, 2023 by Buffer Bear

[BufferBear Bitcoin Bull]

Some great resources:

https://dncomply.com/bitcoin-basics/

https://bitcoiner.guide/nokyconly/

https://bitcoiner.guide/

https://bitcoiner.guide/privacy/

https://whybitcoinonly.com

 

 

[Warlord]

On 8/23/2023 at 11:55 PM, Buffer Bear said:

Good for, @Warlord 

You responding to customer need.  Being open-minded on this issue will provide many benefits that are simply impossible to imagine until you do the work.  I would never trade my bitcoin.  It is too precious. The developments in the bitcoin space blow my mind.

It depends is the answer to your question.  So many options.  As @markyh @MonsieurCopperCrutch suggest, Kraken is tried and tested although KYC/AML.  I opted for Kraken too.   Out of principle, I will not use Coinbase.

The banks are attempting to stop funds flowing out into bitcoin/crypto. NatWest, like many banks has set the maximum transfer limit to an exchange of £5k in 30 days.

https://www.businessexpert.co.uk/business-banking/crypto-friendly/

If you prefer KYC-free bitcoin, decentralised exchanges include Peach Bitcoin (mobile), Robosats (lightning - desktop),Bisq (desktop) or HodlHodl (desktop)and Azetco (voucher) although these are not necessarily straighforward. 

Some good resources/links there thank you 

[BufferBear Bitcoin Bull]

2 hours ago, Warlord said:

Some good resources/links there thank you 

Pleasure.  

News today.

CoinCorner And Lolly Partner To Introduce Bitcoin Payments Alongside Traditional Methods

https://bitcoinmagazine.com/business/coincorner-and-lolly-partner-to-introduce-bitcoin-payments-alongside-traditional-methods

 

 

 

[MonsieurCopperCrutch]

@markyh

[Warlord]

On 8/25/2023 at 3:45 AM, Buffer Bear said:

Pleasure.  

News today.

CoinCorner And Lolly Partner To Introduce Bitcoin Payments Alongside Traditional Methods

https://bitcoinmagazine.com/business/coincorner-and-lolly-partner-to-introduce-bitcoin-payments-alongside-traditional-methods

 

 

 

The problem is how to get new (general) users to understand the process . You can't just flash up a gateway with a QR code it's a little confusing.  This is the challenging bit. i'm just going to tell them to go to Kraken with a brief explainer. 

 

[markyh]

9 hours ago, MonsieurCopperCrutch said:

@markyh

I would guess like Binance, XRP and Eth and many others , they will settle with a $$$ fine and be allowed to carry on.  SEC just leverages cases against Crypto to earn income from Settlements.  

I dont think Coinbase will ever settle, they want to force a ruling. 

[BufferBear Bitcoin Bull]

Context for today’s pump.

https://x.com/coinotagen/status/1696563141260333546?s=46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Edited August 30, 2023 by Buffer Bear

[BufferBear Bitcoin Bull]

https://x.com/jseyff/status/1696635225541878202?s=46
 

 

 

 

 

 

 

[BufferBear Bitcoin Bull]

On 29/08/2023 at 03:19, Warlord said:

The problem is how to get new (general) users to understand the process . You can't just flash up a gateway with a QR code it's a little confusing.  This is the challenging bit. i'm just going to tell them to go to Kraken with a brief explainer. 

 

👍

[BufferBear Bitcoin Bull]

https://twitter.com/i/spaces/1OyKAVLejkNGb
 

 

 

 

[Confusion of VIs]

 

Any thoughts, is this the beginning of the end for BC or pretty much irrelevent?

[markyh]

6 hours ago, Confusion of VIs said:

 

Any thoughts, is this the beginning of the end for BC or pretty much irrelevent?

CBDC can be inflated just like FIAT to worthless over time, you Can't inflate the supply of Bitcoin, it only deflates every 4 years (approx) 

CBDC can be confiscated from you anytime at the flick of a switch, laws or not, The littleman doesn't have the finances to chase the courts to get his money back from the government , Bitcoin cant be taken from you, unless you choose to give it up. 

CBDC can be blocked from you spending it or you sending it to whomever you wish without permission. Same with receiving it.  Bitcoin is permissionless. You are in control.  

[BufferBear Bitcoin Bull]

On 31/08/2023 at 07:17, Confusion of VIs said:

 

Any thoughts, is this the beginning of the end for BC or pretty much irrelevent?

Irrelevant. 

[BufferBear Bitcoin Bull]

@Warlord

 

https://x.com/btcpayserver/status/1699114457421447543?s=46

 

 

 

[BufferBear Bitcoin Bull]

3 minutes ago, Buffer Bear said:

Irrelevant. 

https://x.com/croesus_btc/status/1698762673981407320?s=46
 

 

 

 

 

 

 

[BufferBear Bitcoin Bull]

 

 

 

 

 

[markyh]

On 17/09/2023 at 08:28, Buffer Bear said:

 

 

 

 

 

Not your keys, not your coins.  In a Decade in Crypto i have not lost even 1 satoshi to phishing or hacking. 

[Unmoderated]

Technicals looking bearish. 

[jiltedjen]

If I had to call it I would say we get some more softening for a few more months. then the gradual exponential rise will start. Sometime between January or June of next year. 

peak being around April 2025.

super interesting this time having a peak due against a money tightening recession era instead of a free money covid era. Potentially will cause people to sell far too early or worse sell far too late. 

I suppose potentially there is an argument to hold and wait for the 2029 peak - in the hopes that it’s during a more loose money period again.

I have heard in real life a few unassuming  bitcoin owners, and it only takes a few in a larger non-owning group to start mouthing off about it to draw others in. The seeds are out there. 

potentially april 2015 could be the first bitcoin peak which is lower than the previous one, which I don’t think will kill bitcoin, as I think most people can see conditions last time we’re perfect. But there is going to be a lot of price anchoring reaching the previous high. Going to take some serious mania to blast through it. 

 

Edited September 20, 2023 by jiltedjen

[Data Dave]

In 1 month this BTC thread will be exactly 10 years old.

BTC was next to nothing then. I wonder in 2033 what BTC will be worth.

[scottbeard]

3 minutes ago, Data Dave said:

In 1 month this BTC thread will be exactly 10 years old.

BTC was next to nothing then. I wonder in 2033 what BTC will be worth.

I wonder what in 2033 £1 or $1 will be worth, given how fast they are currently declining in value.

[Data Dave]

3 hours ago, scottbeard said:

I wonder what in 2033 £1 or $1 will be worth, given how fast they are currently declining in value.

70-80p by historical standards. Unless they really f it up. 

[jiltedjen]

What’s the ‘stable mature value’ of bitcoin? very tricky to answer. eventually halvings will stop having drastic effects.

really I guess the question is what’s the future of worldwide fiat currency? 

the biggest risk to bitcoin is stable fiat currency or a maturing of leadership of countries. a return to long term thinking. 

why have bitcoin if you can trust your leaders and your savings? 

I like bitcoin as it’s a bet that human nature is poor. humans are bad to each other. they take value away from the young and give it to the old. Usually it’s the group your not in which gets handed your value. 

if I had to say what bitcoin would be worth, in say 100 years, I would guess bitcoin will always be marginal but serve a purpose, probably maturing at around the value of an average house per coin. 

Although this current cycle will form against a backdrop recession/rapidly forming depression, and money tightening, that’s just this cycle. plenty of future cycles will be in good times.