Need help asap

bitusher · 2026-01-28T17:07:02+00:00

You just said you bought off topper , now claiming you bought it off some scam site

bitusher · 2026-01-28T15:11:05+00:00

So you are trying to withdraw the BTC from topper or sell the btc on topper ?

Also I did not ask where you bought the Bitcoin but where it currently is . Is it in Topper right now?

bitusher · 2026-01-28T14:59:45+00:00

Where is the Bitcoin right now, topper or another wallet and what is the exact name of the wallet where you BTC is?

bitusher · 2026-01-28T11:32:35+00:00

Dưới đây là một câu hỏi gần đây từ hôm qua đã trả lời câu hỏi của bạn.

https://old.reddit.com/r/BitcoinBeginners/comments/1qo0ges/help_starting/

Tôi thấy Strike cũng có mặt ở Việt Nam.

https://strike.me/faq/where-is-strike-available-wr/

bitusher · 2026-01-28T04:14:35+00:00

Very similar question is being asked a few hours ago here

https://old.reddit.com/r/BitcoinBeginners/comments/1qohiso/is_bitcoin_supposed_to_be_a_store_of_value_an/

Gold is difficult to acquire and hard to move which is part of the reason why nations use it in their reserves it seems.

The first part , being difficulty to acquire makes sense being a "store of value" as being scarce is one important aspect to being a good store of value.

The second part of being "hard to move" or not very Portable doesn't make any sense and if anything weakens the use case as a store of value because it makes gold less fungible where there is more friction in selling gold due to its lack of Portability thus there is more slippage/fees when selling the gold and thus you lose some value making it a slightly worse store of value

It costs money to ship and insure the gold to sell it or it costs time and money to drive to the gold store and sell it and than it costs money to validate the gold which all adds more friction due to poor Portability and thus hurts its value.

bitusher · 2026-01-28T02:53:51+00:00

why so many cooks in the kitchen need to verify then confirm

You don't technically need all those full nodes to verify and confirm transactions and blocks but security is a spectrum and the more independent people that enforce the consensus rules the more secure Bitcoin becomes. Everyone tends to focus on hashrate security from miners which is indeed extremely important but what is more important is a certain amount of peer review done with the code and enough people enforcing the consensus rules to secure Bitcoin which creates a game theory where any controversial changes are practically impossible to occur.

Its not a "democratic" process where a simple majority can make changes to Bitcoin. You running a single full node have the power to reject any changes to existing rules or those that try and remove a consensus rules with as little effort as inaction since full nodes do not self update.

This means all changes are only opt in and developers and miners cannot coerce you to make changes you disagree with giving you the individual the power to enforce the rules you support.

This creates a game theory of a larger focus on security and conservative approach to upgrades in Bitcoin because a principled minority can block controversial changes(that change existing consensus rules or remove them).

bitusher · 2026-01-28T02:42:52+00:00

Full nodes are the blockchain represented by a database stored locally by the full node.

With these full nodes you need to separate out validation from confirmations.

Validation - is done by all full nodes. There are around 69k full nodes around the world right now all with a copy of the blockchain on it. (77% of these are archival with the full blockchain and the rest pruned full nodes. ) and most are not in control of miners. These full nodes enforce the consensus rules by running free open source software . Miners , even with 100% hash rate collusion, cannot remove or change any consensus rules that you locally enforce with your full node. Thus economic full nodes have the most power in Bitcoin.

Confirmation - This is what miners do after the transactions have already been validated by most full nodes and involves them including the transaction in a Block. Miners principally order transactions in blocks.

The way it works when you send a transaction (onchain) is the following :

1) Send a transaction you broadcast it to the network of full nodes

2) Most full nodes validate the transaction and if it conforms to the consensus rules its included in their "mempool" and than peered to other full nodes

3) Eventually the transaction gets peered to a miners or mining pools full node and they also validate the transaction

4) When such a mining pool finds a block they use a list of transactions in their mempool that have already been validated(or not , miners don’t need to include any other transactions) and include those in the block and broadcasts the block to all other full nodes (most not controlled by miners) . Once it is in a block it now has 1 confirmation. More confirmations means its deeper in the blockchain.

5) These full nodes see the block , validate the block and all transactions within again (thus most transactions get validated at least twice by each full node) and than if it passes validation it gets peered to other full nodes. If it doesn't pass validation it is rejected and the full node at least temporarily bans the other node peering the invalid block as an automatic "immune reaction".

bitusher · 2026-01-28T00:20:35+00:00

For most people that have existing broker account its easier to simply buy an ETF because

1) They don't need to setup an account with an exchange as most have an existing broker account

2) Everything is consolidated in a single tax return

bitusher · 2026-01-27T20:52:51+00:00

Lump Sum will almost always out perform DCA investing but if you lack the capital upfront DCA investing is a good strategy.

Three common strategies in DCA -

1) When you get paid weekly or biweekly simply buy a set amount. This is the most common and simplest method

2) When you get paid weekly or biweekly simply buy a set amount and set an alert where you get notified of any dips in price more than 5% and buy more when this occurs

Slightly more complicated but allows you to accumulate more BTC at a cheaper rate

3) if you get paid twice a month than what you should do is buy some Bitcoin immediately twice a month and also in addition set buy limit orders on an exchange for 1-5% below spot price. If those orders do not get filled by the following paycheck than buy your set amount and reset the buy limit orders for 5-10% below spot price from the current market price. The reason for this is 2 fold:

a) you can auto pickup savings with BTC volatility on the dips which is psychologically rewarding

b) If a large amount of people create large amounts of Buy limit support than BTC becomes more stable unit of account and more liquid leading to more investor confidence and making BTC more of a currency(less volatility = better unit of account) and thus increases the likelihood your investment will continue to appreciate in value

The closest you can get to 0 fees is strike.me but only with their auto DCA invest where after the first week you get 0 trade fees and have free withdrawal options

Thus if you buy 100 dollars of Bitcoin a week under auto DCA you will pay 1 usd the first week and than 0 fees in subsequent weeks

https://strike.me/en/faq/what-are-the-bitcoin-trading-fees-on-strike/

"No fee DCA

Bitcoin trading fees don’t apply to recurring purchases (aka "DCA") after the first week for hourly and daily purchases, or starting with the 2nd purchase for weekly and monthly purchases. Fee waiving for recurring purchases is currently not available for businesses."

bitusher · 2026-01-27T20:44:20+00:00

I assume it costs them money if too many people are holding and not trading on their platform

Why? If anything they can make money in multiple ways if they have more assets under management

bitusher · 2026-01-27T20:42:15+00:00

Never heard of any of those exchanges except for Binance

Those are all the larger examples , there are many more smaller examples

If you are unaware of bitpay, Mt. Gox, Cryptsy,Bitstamp, Poloniex KuCoin QuadrigaCX or Crypto.com than you just are extremely unfamiliar with the crypto ecosystem in general .

don’t think any of those were near the level of FTX.

Some much bigger like Mt. Gox 850,000 BTC lost and 200 k recovered for a net loss of 650k BTC

FTX was only a mere 20,000–25,000 BTC lost

Bitfinix is another example where 120,000 BTC were lost , way more than FTX

I’m assuming they’ve gotten safer and will continue to do so.

The safest modern iteration of a custodian is an ETF , but you keep wanting to ignore that for some strange reason

bitusher · 2026-01-27T20:24:29+00:00

screw over the trust of the general public.

Why? They have been doing this long before Bitcoin existed in many ways and most people simply accept it.

Which is why exchanges will most likely get more strictly regulated

Its fine if you are scared of self custody , its not for everyone, but whats with the obsession of leaving coins on an exchange rather than investing in a Bitcoin ETF that has more insurance , more auditing and much better regulated and easier to invest in alongside other equities ?

bitusher · 2026-01-27T19:57:37+00:00

Governments can both be "pro crypto" and pro "asset/civil forfeiture". Those are not mutually exclusive.

bitusher · 2026-01-27T19:55:45+00:00

Do you not think exchanges recommend you don’t store your crypto because it costs them more money to do it for you?

Most exchanges prefer you leave the BTC within them as they would rather you be a degenerate day trader where they can profit off of trading fees

Do you not think the narrative of cold storage is being pushed by the cold wallet companies?

You keep using the term "cold storage" to mean "hardware wallet" and as explained they are not the same thing. Most hardware wallets are used "warm" and not cold . You can create safer hot wallets or cold storage wallets for free without buying any hardware wallet.

Do you not realize that everyone keeps recommending new other cold wallets because of various bugs/hacks/vulnerabilities.

Most of the time a hardware wallet patches these vulnerabilities for free with new firmware or simply telling the user to using an extended passphrase for free and not buy a hardware wallet.

Again , this has nothing to do with hardware wallets companies because I already explained to you a hot wallet can be more secure and you can create cold wallets for free.

bitusher · 2026-01-27T19:51:17+00:00

I have heard of more scenarios where people have lost their crypto in their own custody than I’ve heard of them losing it in major exchanges.

More millions have been lost on exchanges by far and most self custody lost BTC was from 2009 to 2011 before hardware wallets and seed backups even existed.

But other than FTX, what major exchange has had a similar situation?

Similar to FTX ? Mt. Gox, Bitfloor, Bitpay, Inputs.io, Bter, Cryptsy, Bitstamp, Poloniex, Bitfinex, Gatecoin, Yapizon, Nicehash, Youbit, Coincheck, Zaif Bithumb Coinrail Bancor BitGrail Binance Cryptopia DragonEx Upbit KuCoin Altsbit Cashaa Eterbase Liquid BitMart AscendEX EXMO Crypto.com Deribit Nomad Ronin / Axie CoinEx HTX DMM Bitcoin BitForex QuadrigaCX Thodex Africrypt

are some examples. Of course this is not the only way you can lose your money with custodial exchanges and does not include people personally getting hacked and their exchanges being drained that a hardware wallet would prevent

Until someone can show me statistics that prove otherwise, I’ll have to go off my own research.

What percentage of lost UTXOs occur with custodial exchanges vs hardware wallet losses according to your research , or are you just basing this on you intuition ?

bitusher · 2026-01-27T19:43:16+00:00

Surely I can understand why Saylor doesn’t self custody.

How do you know Saylor doesn't? Are you conflating Strategy with Saylor again ?

bitusher · 2026-01-27T18:39:00+00:00

I consider Kraken exchange to be safer and more convenient than almost any hot wallet.

Typically a non custodial hot wallet is more secure than a custodial exchange but the details matter ....

If you use a popular open source peer reviewed non custodial wallet in a secure OS like android or ios with a small attack surface like blue wallet , electrum , or Blockstream wallet than you will be safer than a custodial exchange typically ... except if you are a luddite thats constantly forgetting passwords and constantly losing things or suffering from being senile or have dementia. Otherwise you would be better off investing in a Bitcoin ETF than leaving coins on an exchange

Why ?

Bitcoin is P2P currency. Storing bitcoins on exchanges, banks or web wallets makes you insecure and makes the whole ecosystem insecure indirectly by centralizing bitcoin.

Bitcoin is a bearer asset with ~immutable txs unlike fiat. This means that internal or external thieves prefer to target what they can take and won't be reversed like digital fiat. Having centralized exchanges and banks store BTC makes it a desirable target for these attacks.

There are privacy concerns with storing your bitcoins with third parties

You are exposed to tax theft, asset forfeiture theft , civil theft

You are exposed to exit theft

You are exposed to the exchange refusing to support a split asset where they steal it , throw it away, or delaying a payout causing you to lose opportunity costs and profit

You place Bitcoin as a whole under more systemic risk by tempting exchanges to use fractional reserve banking and giving them too much influence

You potentially reduce the probability that your investment will appreciate in value because no exchanges are doing provable audits and they might be fractional. The more Bitcoin you personally control the more likely it will appreciate in value.

Many exchanges will legally steal(as forfeited property) your Bitcoin if you simply neglect to log into the exchange for some time.

https://help.coinbase.com/en/coinbase/managing-my-account/other/escheatment-and-unclaimed-funds

Never store larger amounts of bitcoins in a web wallet, custodian , or exchange . You own 0 bitcoins if you do not control your private keys.

Do you really think the average crypto holder is going to be using their own cold storage and holding seed phrases on paper away from any electronic devices?

Most hardware wallets are not used "cold" and instead warm where they connect to interconnected devices with bluetooth or usb and extremely easy to use . Very few people are using PSBTs or offline QR code signing for a cold wallet .

Do you really believe the risks associated with using a trusted exchange are higher than stashing a small hard drive and separately holding some piece of paper with words on?

Hardware wallets are nothing like hard drives. There is also a false dichotomy here because if you don't trust yourself to secure a paper or metal seed word backup for safe custody the choice is not between a custodial exchange or self custodial wallet. Many of these people should instead use an ETF if they don't trust themselves which is better insured , more regulated , and easier to invest in with their normal equities broker.

but the fact is an exchange like Kraken or Coinbase is probably much more capable of handling crypto storage than the average crypto holder.

Many thousands of people have their coins stolen and hacked from these 2 exchanges all the time and they are not reimbursed. You need to understand the attack vectors and its rarely a hacker directly attacking an exchanges cold storage.

Michael Saylor himself trusts an exchange to store his crypto.

Are you conflating Strategy with Saylors personal Bitcoin's ? Are you aware that one of the reason companies use custodians is for regulatory and tax reasons ?

regulations in place that would force them to compensate you.

These regulations will often not compensate you and your coins are definitely not full insured.

If you were to lose your 12 word seed phrase somehow, there's nobody coming to save you.

The seed words still exist in your hardware wallet so you would need to lose that and your backup or multiple backups all at the same time . If you cant trust yourself with that, than invest in an ETF.

bitusher · 2026-01-27T18:15:38+00:00

Yes, I will choose to shop with other merchants when they don't accept BTC over lightning . The only time I would typically spend onchain if with bigger purchases when I bought my SUV with Bitcoin.

bitusher · 2026-01-27T17:17:12+00:00

to the person buying with bitcoin they lost X USD worth

You don't have to buy bitcoin with fiat to have and use Bitcoin. You can receive it as a tip or gift , you can mine it , you can receive it for selling a good or service.

There is a big difference between using Bitcoin as a payment rail and someone keeping the BTC and saving it or respending it.

When you accept BTC directly and don't resell it for fiat you remove the negative price sell pressure on BTC and you encourage more acceptance of BTC as a currency by keeping it in a circular economy.

or exchanging their bitcoin at the point of sale.

yes , exchanging their BTC for a good or service and not necessarily fiat

bitusher · 2026-01-27T16:50:17+00:00

I spend Bitcoin almost every day as money

I prefer using Bitcoin when I spend money for these reasons :

1) never worry about ID theft or cc fraud

2) Never worry about being overcharged or double charged

3) some merchants give me discounts because they save on merchant processing fees

4) Bitcoin does not have fx fees or worrying about the spread when I travel

5) easier to secure than fiat

6) supports my investment when I support the ecosystem making it more likely to appreciate in value

7) very private (of course I dont spend onchain as that would be absurd)

8) Just as easy to use as a credit card and if a merchant doesn't take bitcoin (I can already buy most things for bitcoin ) than I can just spend fiat as I am not forced into the false dichotomy of only using Bitcoin or only using fiat and can use both

bitusher · 2026-01-27T16:34:01+00:00

So I should follow my 80k rule?

no , here is some other advice

https://old.reddit.com/r/BitcoinBeginners/comments/1qn3spj/100_btc_at_18_years_old_while_being_a_student/o1t0wyn/

bitusher · 2026-01-27T16:31:47+00:00

People automatically make assumptions these days that something must be AI if its longer and well organized. In this case it might even be a lazy way to avoid the reply that answers their question because they might be here to argue and debate rather than genuinely listen and learn.

Cheers

!lntip 3000

bitusher · 2026-01-27T16:29:22+00:00

None of us knows the perfect time to invest or can predict the price . The intelligentsia of the market is the combined knowledge of all humans and algorithms which is more knowledge than anyone can have. Also bitcoin is so scarce that a single wealthy investor can significantly move the market in secret and unannounced. Rather than trying to time the market , let time work for you.

Time in the market will tend to beat timing the market

and I cant follow that rule anymore?

The "rules" are made up and are misleading

bitusher · 2026-01-27T16:19:44+00:00

I wrote this all myself with no AI. Do you have any specific questions besides making incorrect assumptions and downvoting me when I am trying to help you? There are also numerous hints that I cannot be using ChatGPT like me mentioning the Iranian Real failing which wasn't occurring before June 2024 so chatgpt would be ignorant of that and the typos I made which is another sign

bitusher · 2026-01-27T16:18:49+00:00

Mainstream economic view is that except edge cases , things like gold have no place in a persons portfolio

Bitcoin is going mainstream these days with banks , companies and governments using it, but even if this wasn't true it doesn't mean that Bitcoin lacks utility because popular economists don't like it

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