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Is anyone else starting to become a bit excited?

q85dw7osi4lebg

As per title, have we reached the bottom ?

Don't think we'll see the likes of $3200 ever again.

$5150 at time of posting.

Back in the mainstream media once more.

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q85dw7osi4lebg

$10,400....

vargoo

Addison Fancy Macrame wrote: »

$10,300...

Leave refresh alone, catch a few zzz.

q85dw7osi4lebg

vargoo wrote: »

Leave refresh alone, catch a few zzz.

I'm a bot

Arrival

$10,600

I know all of this is pittance compared to what's to come, but it's still so exciting seeing these jumps. We've an idea of how big this can potentially get but I think mentally a lot of us aren't actually prepared for how intense the next 1.5-2 years are going to be haha

vargoo

Arrival wrote: »

$10,600

I know all of this is pittance compared to what's to come, but it's still so exciting seeing these jumps. We've an idea of how big this can potentially get but I think mentally a lot of us aren't actually prepared for how intense the next 1.5-2 years are going to be haha

$10,784

The roof, the roof, the roof is on fire, If this doesn't drop right back very soon.....they're overcooking it big time.

vargoo

vargoo wrote: »

$10,784

The roof, the roof, the roof is on fire, If this doesn't drop right back very soon.....they're overcooking it big time.

2 mins later 10,889

Hahaha

The Oort Cloud

Interesting look at the new Facebook coin. But what happens when Facebook decides to close your account if they do not like your conservative views ?... Will you still have access to your funds ?. Bitcoin will continue to climb and then drop-off, but it will go further, much further up-hill.

https://www.youtube.com/watch?v=BwMr4zjniFk

Grumpypants

Forget $10k, €10k is in reach.

Just think if anyone listened to our two budding doomsday financial experts and cashed out at 3k they would have lost 70%.

The Oort Cloud

Grumpypants wrote: »

Forget $10k, €10k is in reach.

Just think if anyone listened to our two budding doomsday financial experts and cashed out at 3k they would have lost 70%.

Almost there now. There should be a drop soon and then another high to 12,000 in a few days. Up and down she goes. After that Bitcoin will spike to 15,000 in 3 weeks, almost sure of this.

q85dw7osi4lebg

Car getting new suspension and a service today, nice to wake up and find it's all paid for !

Blueshoe

makeorbrake wrote: »

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

Tim Draper is an early investor in Vechain also

Arrival

Grumpypants wrote: »

Forget $10k, €10k is in reach.

Just think if anyone listened to our two budding doomsday financial experts and cashed out at 3k they would have lost 70%.

They're very quiet now too, as usual

JohnnyFlash

Arrival wrote: »

They're very quiet now too, as usual

Nah. Good luck to all making a few quid, but this is just Tether. When the Tether printer stops the whole thing falls again.

makeorbrake

Never a good thing to say....

sexmag

JohnnyFlash wrote: »

Nah. Good luck to all making a few quid, but this is just Tether. When the Tether printer stops the whole thing falls again.

This isn't tether,this is down to the Facebook news with libra all over the media and the bullish sentiment going around based on the cycles over the Las few years. This influx is all natural and organic Johnny

JJJJNR

Nope your all wrong

Geopolitical tensions and gold.

Arrival

JohnnyFlash wrote: »

Arrival wrote: »

They're very quiet now too, as usual

Nah. Good luck to all making a few quid, but this is just Tether. When the Tether printer stops the whole thing falls again.

Hopefully you're right so I can plough another bit into

Bob24

el diablo wrote: »

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.

I was doing a bit more reading on these devices and how they work in the morning, and what I find online seems to contradict the above.

See for exemple: https://en.bitcoin.it/wiki/Seed_phrase

It clearly says “Anybody else who discovers the phrase can steal the bitcoins, so it must be kept safe like jewels or cash. For example, it must not be typed into any website.”.

Or: https://medium.com/ledger-on-security-and-blockchain/ledger-101-part-3-best-practices-when-using-a-hardware-wallet-198b60df2681

Which says “anyone getting access to these 24 words would get immediate access to your crypto assets”.

Or: https://bitfalls.com/2017/09/08/hardware-wallets-like-ledger-nano-s-work/

Which says: “to reclaim all wallets generated with a BIP 39 word phrase, all you need is the one single combination of 24 words inserted into hardware or software supporting that generation method”

Basically what I understand form reading about this is that the 24 words are just a standard (BIP 39) which enables to generate keys with a series of words. So those 24 words are essentially your keys, meaning that anyone who has the words as full access to the wallet(s) you created with those words.

So essentially it seems the device is a convenient extension of a paper wallet (these 24 words). Ie the device itself is very safe and unlikely to be hacked, but the associated 24 words need to be treated as a password which allows anyone anywhere in the world to instantly and anonymously steal all your coins if they know the words.

I admit I am new to this, but am I stating something incorrect here?

stockshares

Bob24 wrote: »

I was doing a bit more reading on these devices and how they work in the morning, and what I find online seems to contradict the above.

See for exemple: https://en.bitcoin.it/wiki/Seed_phrase

It clearly says “Anybody else who discovers the phrase can steal the bitcoins, so it must be kept safe like jewels or cash. For example, it must not be typed into any website.”.

Or: https://medium.com/ledger-on-security-and-blockchain/ledger-101-part-3-best-practices-when-using-a-hardware-wallet-198b60df2681

Which says “anyone getting access to these 24 words would get immediate access to your crypto assets”.

Or: https://bitfalls.com/2017/09/08/hardware-wallets-like-ledger-nano-s-work/

Which says: “to reclaim all wallets generated with a BIP 39 word phrase, all you need is the one single combination of 24 words inserted into hardware or software supporting that generation method”

Basically what I understand form reading about this is that the 24 words are just a standard (BIP 39) which enables to generate keys with a series of words. So those 24 words are essentially your keys, meaning that anyone who has the words as full access to the wallet(s) you created with those words.

So essentially it seems the device is a convenient extension of a paper wallet (these 24 words). Ie the device itself is very safe and unlikely to be hacked, but the associated 24 words need to be treated as a password which allows anyone anywhere in the world to instantly and anonymously steal all your coins if they know the words.

I admit I am new to this, but am I stating something incorrect here?

The part in bold is my problem with the Ledgers also. The device is secure but how the hell do you keep your seed phrases secure for life.

Some have suggested leaving them in Safety Deposit boxes but that requires trust also.

Securing your coins is a big problem and puts new people off crypto

Bob24

stockshares wrote: »

The part in bold is my problem with the Ledgers also. The device is secure but how the hell do you keep your seed phrases secure for life.

Some have suggested leaving them in Safety Deposit boxes but that requires trust also.

Securing your coins is a big problem and puts new people people off crypto

Yes, if I understand it correctly there seems to be a huge associated risk. Basically the words have to be physically stored a different physical location from the device as if both are destroyed you lose all your funds, and a the same time you need to ne 100% sure that no one else except you has access to them.

This is why I was saying in some cases a reputable exchange might be as good or better than these devices for a smallish quantity of coins: sure there is a large risk associated with the exchange, the the device is not risk free either and many people might not understand the security implications.

JJJJNR

Print them off laminate the sheet and put it somewhere you won't forget.

A good distributed exchange is fairly safe also.

stockshares

JJJJNR wrote: »

Print them off laminate the sheet and put it somewhere you won't forget.

You mightnt forget but what if your burgled.

What if you do forget. A life can be a long time.

What if you get sick and need to pass them on to a relative etc.

JJJJNR

Make a will and include that document in the deeds.

Might also be worth including a way to recover the funds..

machiavellianme

11k and climbing. Back to where I sold most last time and bought alts as was the trend at the time. Those alts are now down 90% on average but BTC is back. Should have HODL'd.

Bob24

stockshares wrote: »

You mightnt forget but what if your burgled.

What if you do forget. A life can be a long time.

What if you get sick and need to pass them on to a relative etc.

Also it can’t be in your house if you are also keeping the device in there -> a fire destroys the house and its content, and all your coins are gone.

JJJJNR

machiavellianme wrote: »

11k and climbing. Back to where I sold most last time and bought alts as was the trend at the time. Those alts are now down 90% on average but BTC is back. Should have HODL'd.

Alts will be back once the fomo hits, it's going to hit hard...

Follow the #altszn hash tag on Twitter.

Bob24

JJJJNR wrote: »

Make a will and include that document in the deeds.

Might also be worth including a way to recover the funds..

Remember that just having the words gives instant and anonymous access to the funds. In the scenario you mentioned, do you 100% trust that no one but yourself and the person you designated in your will will ever see the words?

JJJJNR

I thought I was paranoid.

stockshares

Bob24 wrote: »

Remember that just having the words gives instant and anonymous access to the funds. In the scenario you mentioned, do you 100% trust that no one but yourself and the person you designated in your will will ever see the words?

JJJJNR wrote: »

I thought I was paranoid.

I agree with him, would you trust a solicitor with your crypto

Bob24

stockshares wrote: »

I agree with him, would you trust a solicitor with your crypto

Plus if people started doing this, solicitor’s files would quickly become a target for criminals.

A solicitor accepting to store keys for a wallet which has 100000 euros on it in their files has similar security implications to the solicitor accepting to keep 100000 euros in cash for you in their files.

I don’t think it is in any solicitors interest to to it.