The Bitcoin (BTC) thread

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Woodpecker
Question. say you have a ledger or trezor wallet ofline somewhere where you cant access it. can you still send funds to it? I dont have the address handy but I have previously sent funds from a brd wallet. Can I still send more funds without connecting the hardware wallet? to the same address from my my brd history?
 

JayJuanGee

Crow
Gold Member
Question. say you have a ledger or trezor wallet ofline somewhere where you cant access it. can you still send funds to it? I dont have the address handy but I have previously sent funds from a brd wallet. Can I still send more funds without connecting the hardware wallet? to the same address from my my brd history?

As long as you have the address correct, you do not have to be online to receive the funds.

If you are uncomfortable with something that you are doing, like that, then it may well be prudent to send a small amount ($5 or something that you consider to be small) to try it out.

You likely realize that best practices tend to NOT reuse addresses, and that is mostly because of mingling of addresses reasons, so sometimes we may need to account for the extent to which we are purposefully reusing addresses, and we feel it is to our benefit to do so.

For example, in the tipping hypothetical situation that Caractacus Potts mentioned earlier, maybe he would consider how many of those tips that he would like to have mingled? So perhaps, Caractacus might receive tips that are anywhere between $1 and $100, and he might decide that once the address has a certain value, then he will send it to some other location in which he was comfortable - maybe a mixer, and then send them back to himself - or if he is using Samouri, Wasabi, lightning or some other service or wallet, the proper term might not be mixer, but instead coin joining.. so at some point it becomes a bit more difficult for the transactions of Caractacus to be traced back to Caractacus.

We do not need to be suggesting at all that Caractacus has any kind of illegal intention, but instead, every guy should have a right to privacy, so that no one necessarily can link his various transactions - whether Uncle Sam, his neighbor, his girlfriend, his wife, his employer, some random joe down the street, or some thug that just purchased a $5 wrench.
 

Blade Runner

Kingfisher
Hey I was wondering while back if I wanted partition a BTC entry in my ledger, they asked me about the Segwit mentioned a few posts ago. I read about it and it said a lot of exchanges or individuals still can't send to these, but in the future they will be a way for lower cost transactions to occur. So if I want to make a new entry (folder?) in my BTC app on ledger, should I choose the Segwit type yet? Or just maintain the current system? Thanks.
 

JayJuanGee

Crow
Gold Member
Hey I was wondering while back if I wanted partition a BTC entry in my ledger, they asked me about the Segwit mentioned a few posts ago. I read about it and it said a lot of exchanges or individuals still can't send to these, but in the future they will be a way for lower cost transactions to occur. So if I want to make a new entry (folder?) in my BTC app on ledger, should I choose the Segwit type yet? Or just maintain the current system? Thanks.

I don't really know.

Segregated witness went into effect in August 2017, and in the beginning some of the wallets did not support segregated witness, but if you have a wallet that supports segregated witness, then I would believe that it is better to use the segregated witness storage method.

As far as I understand, you can send to legacy or receive from legacy.. same with legacy wallets can send to legacy or send to segregated witness. It is an optional feature that more and more wallets and services are supporting and using, and overall bitcoin would scale better with segregated witness.. at least that is the plan, and the more people using it, the more transactions that can be sent in one block.
 

clutch

Newbie
Great job on doing your due diligence and reading The Bitcoin Standard.

For wallets I recommend using Samourai. Mixing with Whirlpool is a fantastic & easy-to-use way to privatize your coins.

I also recommend everyone buy using Bisq, ATM's, etc. to avoid KYC from the big exchanges.

Bisq software didn't work on my MacBook. I think this is when people tell me not to use a MacBook. In any case, any other suggestions?
 

Talus

Pigeon
How many of you guys are actively using bisq to purchase btc? My first impression of bisq (from reading their webpage), is that it is not for low aptitude btc investors, and that for people like myself it would be easier to just buy on a KYC exchange and then coinjoin. Is Bisq a user friendly platform?
 

redbeard

Hummingbird
Moderator
How many of you guys are actively using bisq to purchase btc? My first impression of bisq (from reading their webpage), is that it is not for low aptitude btc investors, and that for people like myself it would be easier to just buy on a KYC exchange and then coinjoin. Is Bisq a user friendly platform?
ATM's without KYC > Bisq
 

JayJuanGee

Crow
Gold Member
How many of you guys are actively using bisq to purchase btc? My first impression of bisq (from reading their webpage), is that it is not for low aptitude btc investors, and that for people like myself it would be easier to just buy on a KYC exchange and then coinjoin. Is Bisq a user friendly platform?

I have NOT personally used Bisq either, and I had heard that there are some potential issues with user-friendliness, too. These kinds of decentralized exchanges have not really worked out the potential bugs, including trade volume issues.

Of course, if you are a relatively newbie to bitcoin, you do not necessarily want the perfect become the enemy of the good. You would rather to get set up with bitcoin, and figure out details along the way. So, in that regard, there are a variety of options, maybe partly variable depending on your location.... and sure many of the KYC options are going to be way easier to figure out.. at least to get started, and of course, you may want to study various possible peer to peer, ATMs (to the extent that they might not require KYC) or other various non KYC means that might be available to help you to establish your BTC stash.

If you are planning to acquire and to hold your coins for a decently long term, such as 4 years or longer, then surely it may be better to just begin to acquire them through various KYC exchanges while you are studying other possible options that might be available to you, and then to store them in personal storage, as you seem to be suggesting Talus.

Depending upon your location there could be ways to meet people and to buy bitcoin with cash, and of course, as you get more involved in bitcoin, you may well learn of a variety of ways to get bitcoins directly from other individuals and to engage in peer to peer buying.

LocalBitcoins does not seem to be as much of an option anymore in some locations in terms of allowing for trading in cash, and as far as I know even Paxful (I have not personally used Paxful) has its limitations in terms of trying to contact and meet for face to face transactions...

Of course, there are going to be some location specific aspects to what might be available to guys.. Of course, if you are in Bigger cities, then there might be meet-ups that give some options for meeting guys who want to buy and sell directly, too.

I am not going to proclaim that I am personally free from frustration in terms of some of the increasing levels of KYC requirements - and surely there can be a bit of a problem in terms of acquiring NON-KYC, and then needing to use KYC modes to liquidate some or all of your BTC holdings, and then the exchange (or off-ramp) might end up asking you from where did those coins get into your hands.
 
So "Digital Currencies" in this context simply means there will no longer be any paper printed anymore? Because as far as alot of people are concerned, banking is already pretty digital these days.
 

Talus

Pigeon
Good thread from Raoul Pal on what is coming (central bank digital currencies) and how he views Bitcoin's role in the future (hint: he is bullish)
Bullish for bitcoin, miserable for everything else.

So "Digital Currencies" in this context simply means there will no longer be any paper printed anymore?
It means a lot more than that. It's already a pain in the ass when your bank freezes your debit card. Imagine when the irs can do it..
 

gework

Ostrich
Gold Member
I have faced a lot of issues with the globalist infused, but hopefully legacy, financial industry this year.

My main bank account has been closed down due to immense regulatory pressure. I have not yet been able to open an alternative, partly due to the plandemic, partly due to banks increasingly being under immense globalist pressure. My main debit card has just hit me with huge KYC (likely because I am using it in the FSU), which is difficult to deal with and they may kick me out of their platform. I had another debit card that hit me with KYC for the crime of it being used in Serbia. I didn't bother to comply. One of my payees has also hit me with KYC.

From what I am hearing from the offshore community - those seeking to escape punitive governments have really been put under the kosh this year. Many people have had offshore accounts closed. The ability to do anything with your money in offshore accounts is drying up and offshore banks often struggle to keep banking relationships (corresponding banks). Many offshore banks will now not even let you send money to top brokerage accounts. They are so afraid of the slightest risk that they run at the sign of any potential wrong doing. This is not because they want to, but because they have unaccountable globalist institutions breathing down their neck. In the 1980s you could just turn up in Gurnsey or The Bahamas and open an account - no questions asked. But we are a few years away from having few banks unless you have huge capital. One bank even rejected me because they won't accept affiliate revenue.

I have come to the realisation that I don't own any of my money; and I expect this to get worse next year as the globalists attempt to enforce the great reset, while the idiot-left cheer at their bug burgers and vaccines.

As a result I am wondering if I should convert half of my liquid estate into crypto. I know a few good services that you can get into and out of crypto with relative ease (AdvCash and Dukascopy Bank; the latter is very easy to open).

At the moment I would convert half of my cash to stable coins and lend them out on various platforms. The income from that alone would give me a handsome income, while I can't get any worthwhile interest on my fiat. At a later date I could convert to BTC, ETH and alts. I don't see now as a good entry point.

My concern with holding crypto is that it may become even more difficult to get in and out of crypto. At the moment I can easily spend crypto on a number of debit cards and I am currently able to get it in and out of some banks. But how long will that last? If the globalists want to squeeze crypto even stable coins could face serious issues and it may become difficult or impossible to make crypto liquid.

So at the moment I am leaning to putting half my cash into crypto, stable coins to begin with. Although I see some risks here, particularly as I will be loaning the crypto out, I feel the extent to which I own money in traditional banks is so low as to need to be diversified from.

Addendum: early next year I will be re-domiciling and buying an apartment in an effectively zero tax jurisdiction. At best I'd be paying 2% tax. This will alleviate my money worries somewhat. But even then I'm likely to be subject to questions from the bank any time I want to do anything and there is always the chance my home government, which is now nothing more than a passport printing press to me, may start trying to make out I'm their slave.

What are your thoughts?
 

gework

Ostrich
Gold Member
Good thread from Raoul Pal on what is coming (central bank digital currencies) and how he views Bitcoin's role in the future (hint: he is bullish)


What is the role he or anyone else sees for BTC?

I see general government regulation and the growing pressure of the OECD and other globalists groups as a major issue. If people start using crypto for transactions the government will step in to crush crypto or demand their slice.

With that said, if they want to go cashless crypto will be the best replacement. But even then, most businesses are too afraid of their government to get out of line.

Currently I think the real BTC economy is about $3 billion per year, which is negligible.

With that said I am expecting a huge rush into crypto after the next financial crash.

The only board use case I've heard for crypto was in Venezuela, where the financial system effectively went kaput.
 

gework

Ostrich
Gold Member
Any one can recommend exchanges and wallets for btc use in germany?

You can use:

Crypto.com - https://crypto.com/en/index.html
Monolith - https://monolith.xyz/

in Germany.

Crypto.com is good because you can use it to buy crypto by card with 0% fees, they have a lot of insurance and they have some good lending features. They also have debit cards that have zero fees and zero foreign exchange rates, which is extremely useful. In EE you usually get sliced for 4% on withdrawals, but with this card there are no fees. You also get 1-8% cryptoback on purchases (not including ATM withdrawals). With the card level I have you also get free access to airport lounges and a few other things. You can lend out dollars via the app for between 8-12%, on the higher level cards. Not sure what the rates for the lower cards are. On the down side they have been lowly reducing their lending rates down, which has caused a big sell-off of their native token this week. However they have kept their stable coin rates static and their BTC and ETH rates have remained the same I believe. It depends on variables, but the rate I get is 6.5% pa on BTC and 5.5% on ETH. You also get an extra 2% bonus CRO (their native token, which had FOMO'd since March) with the top two tier of cards. You can convert that straight away to BTC or whatever else you want. So you can consider that 8.5% pa on BTC if you have the card that requires about a $12,000 stake in their token.

Monolith has modest fees, but what makes it interesting is they are integrating de-fi projects into it. So you can, or will be able to lend out your coins via de-fi lending protocols. On Aave that's currently 4% PA for DIA and Fulcrum is about 16%. You can also buy coin via Monolith. So these are good entry level 'exchanges'.

For more advanced exchange I like FTX. Low KYC.
 
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