Is anyone else starting to become a bit excited?

q85dw7osi4lebg

vargoo wrote: »

??

What makes you think that?

Well it's relatively fairly known that Bitcoin goes in 4 year cycles due to the halvings and if you look at the last 3 months compared to this time 2015 the charts are near identical.

Past charts don't predict the future etc etc but if there is a pattern, I think that's where we are, just my opinion. Being in 2017 wouldn't make sense since that is only 2 years ago and we haven't had a halving since.

makeorbrake

Bob24 wrote: »

with people checking their Coinbase account a few times a week.

A few times a week? I think I might be a checking a tad over the average then.:( If it's not a reognised disorder, it will be soon enough...lol

el diablo

People actually leave their crypto on Coinbase and other exchanges?

vargoo

el diablo wrote: »

People actually leave their crypto on Coinbase and other exchanges?

Seemingly everyone here if they're checking so often....guy in work has 15 grand sitting on an exchange, I was wondering how he linked it to his wallet but no, it's all up there.

What actually happens if exchange "loses" your holding?

Tough?

makeorbrake

el diablo wrote: »

People actually leave their crypto on Coinbase and other exchanges?

Sorry, I misunderstood - I meant checking the price - not a crypto account.

Not your keys, not your crypto always applies.

vargoo wrote:

What actually happens if exchange "loses" your holding?

It's an unregulated space - so most likely, you'd be sh1t out of luck.

Bob24

makeorbrake wrote: »

A few times a week? I think I might be a checking a tad over the average then.:( If it's not a reognised disorder, it will be soon enough...lol

I meant during the 2017 craziness colleagues would kind a have a ritual to check Coinbase and boast about their gains in the office a few times a week (which is not the case right now).

But yeah I’m with you the average crypto holder probably checks a few times a day for their own enjoyment :-D

Bob24

el diablo wrote: »

People actually leave their crypto on Coinbase and other exchanges?

I guess it depends on how much you have. I certainly wouldn’t suggest to leave 100 BTC on an exchange for storage, but leaving 2 or 3 is not crazy IMO.

Plus self-storage eliminates some risks but bring in new ones and custodial services might not target small individual holders.

makeorbrake

Bob24 wrote: »

I guess it depends on how much you have. I certainly wouldn’t suggest to leave 100 BTC on an exchange for storage, but leaving 2 or 3 is not crazy IMO.

Plus self-storage eliminates some risks but bring in new ones and custodial services might not target small individual holders.

Get yourself a ledger nano or trezor. 3 BTC is not a small amount of money (and someday soon, it could potentially be a shed load). Those devices cost about 100 usd (or sometimes on offer for less).

el diablo

vargoo wrote: »

Seemingly everyone here if they're checking so often....guy in work has 15 grand sitting on an exchange, I was wondering how he linked it to his wallet but no, it's all up there.

What actually happens if exchange "loses" your holding?

Tough?

Some of these exchanges only hold around 10% of the crypto in reserve. if there's a run on the exchange or if it runs into regulatory difficulties then your friend will will most likely lose his $15,000. Even a mobile wallet like Enjin or Bitpay etc is a far safer place to store your holdings than an unregulated exchange.

Bob24

makeorbrake wrote: »

Get yourself a ledger nano or trezor. 3 BTC is not a small amount of money (and someday soon, it could potentially be a shed load). Those devices cost about 100 usd (or sometimes on offer for less).

Agree it’s not a small amount and the cost of the device is very small in comparison.

But I don’t think self storage on a Ledger type device is a perfectly safe option either. Device can fail, be lost, stolen, destroyed by a fire or whatever. You can keep multiple ones at different locations alright, but it them makes the logistics of updating them more complicated and increases the chance of unauthorised access (you could for exemple say you have one at home and one always with you, but if one day you get mugged by a thug familiar with crypto who finds it and is threatening you with a weapon to hand out the passcode you might regret carrying it).

Now to be clear I am not saying people should leave large amounts on exchanges, but I think they should also be mindful of the limitations and risks of their self storage strategy (and for someone who isn’t a techie, doesn’t fully master the subtleties of self storage and is only holding 2 or 3 bitcoins, I am not sure that all things considered self storage is safer than a very reputable exchange - just my opinion).

Arrival

$9,929...mad. I was waiting for the dip lots of people were anticipating over the past couple of weeks to pick up another bit but nope. So excited to see what happens at $10k, regardless of whether it goes up or down

el diablo

Bob24 wrote: »

Agree it’s not a small amount and the cost of the device is very small in comparison.

But I don’t think self storage on a Ledger type device is a perfectly safe option either. Device can fail, be lost, stolen, or destroyed by a fire or whatever. You can keep multiple ones at different locations alright, but it them makes the logistics of updating them more complicated and increases the chance of unauthorised access.

You only need one hardware wallet. If the device fails (unlikely) you can purchase another one and access your private keys by entering your seed words.

Technique

Losing a wallet doesn't mean losing your crypto. Using your 12-word passcode you can set up a new wallet.

Edit: El Diablo beat me to it.

makeorbrake

Bob24 wrote: »

But I don’t think self storage on a Ledger type device is a perfectly safe option either. Device can fail, be lost, stolen, or destroyed by a fire or whatever. You can keep multiple ones at different locations alright, but it them makes the logistics of updating them more complicated and increases the chance of unauthorised access.

You don't have to care so much about the device. I mean, don't leave it lying around but if you lose it or its stolen - it's the key that's important. It's always about the key. If you have that, you can load it up on another device.

Bob24

el diablo wrote: »

You only need one hardware wallet. If the device fails (unlikely) you can purchase another one and access your private keys by entering your seed words.

Technique wrote: »

Losing a wallet doesn't mean losing your crypto. Using your 12-word passcode you can set up a new wallet.

makeorbrake wrote: »

If you have that, you can load it up on another device.

Have to admit I was not 100% familiar with how Ledger devices work. Just did a bit of reading.

If I get it right the device will initially give you “seed words” which need to be stored separately and can be used to restore your keys to any other such device? If yes this seem like a hugely critical piece of information as anyone who obtains those words can essentially steal all your funds. Do I get that right?

Dohnjoe

Bob24 wrote: »

Have to admit I was not 100% familiar with how Ledger devices work. Just did a bit of reading.

If I get it right the device will initially give you “seed words” which needs to be stored separately and can be used to restore you funds to any other device? If yes this seem like a hugely critical piece of information as anyone who obtains those words can essentially steal all your funds. Do I get that right?

Basically someone has to physically BE at your computer to steal your crypto, because they need the physical Ledger to log in, and know your codes

Remote access doesn't work (99.99% of crypto thefts)

Bob24

Dohnjoe wrote: »

Basically someone has to physically BE at your computer to steal your crypto, because they need the physical Ledger to log in, and know your codes

Remote access doesn't work (99.99% of crypto thefts)

But everyone just said that as long as you have the seed words you can restore the keys to any other Ledger device, right? So if someone gets access to your seed words they don’t need any other form of physical access to any of your devices to access your wallet, is that not right?

el diablo

Bob24 wrote: »

But everyone just said that as long as you have the seed words you can restore the keys to any other Ledger device, right? So if someone gets access to your seed words they don’t need any other form of physical access to any of your devices to access your wallet, is that not right?

No, as mentioned above they also need to be logged into your Ledger Live account online to to able to access your private keys. Having the device, seed words or both are useless without having access to Ledger Live.

grindle

Not sure if somebody here or on Reddit was saying about how buying Bitcoin at almost any point in the past ten years bar a few months was a good bet? Figured I'd visualise it over the past 6+years (not sure if some other site has a better available high-res chart over the full time it's been trading?)



Ahhhh, the sweet sweet bliss of confirmation bias.

10k boom

q85dw7osi4lebg

$10k printed on Coinbase. Well done

q85dw7osi4lebg

$10,100...

q85dw7osi4lebg

$10,200...

vargoo

Addison Fancy Macrame wrote: »

$10,200...

I'd imagined an automated sell off... what gives?

vargoo

This doesn't work without fresh fiat does it?

q85dw7osi4lebg

I dunno, I was wholely expecting it to dump. Just bought some more so now it should. Ha

Dohnjoe

Cannot believe it just hit 10k, that's incredible. Yeah we could see a dump, even a bear for the rest of the year, I don't care, that's a lovely marker to hit considering what it was at xmas

el diablo

Maybe the dump and the FOMOing will cancel each other out. :cool:

makeorbrake

Arrival wrote: »

Pretty decent informational video on BTC, don't write it off because of the fiat value prediction in the title

https://www.youtube.com/watch?v=V3VgbQ23E8k

Tim Draper just tweeted that video of yours. Clever sod knows what he's doing!

q85dw7osi4lebg

$10,300...