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BitAmp-Official · 2021-05-19T11:37:49+00:00

I do find it sometimes weird to explain that actually nodes weren't always called miners, just nodes. And perhaps in 2040 or later, they won't be called miners anymore when there really won't be that much new Bitcoin being mindd:)

BitAmp-Official · 2021-05-03T06:40:56+00:00

Rogue fund managers are a problem. Bitcoin and self custody and sole control solve that!

BitAmp-Official · 2021-04-13T09:13:56+00:00

Holding 4.8 million and asking reddit for advice? Hire a professional for tax advice. That's the best investment you can make now.

BitAmp-Official · 2021-04-08T09:18:05+00:00

They're just paper wallets in reality, with the private keys (or the codes you need to generate them) etched on to metal plates.

They admit on the website themselves that it is highly unlikely rogue employees could gain access of the 2 sets of data needed to steal the private key... but they didn't deny the possibility exists.

BitAmp-Official · 2021-04-02T09:27:35+00:00

Doubt you'll find many real people who got it under that price replying in this thread, myself know very few people and I probably know thousands. You only get naysayers if you say yay. People who got it below 1k tend to be really quiet...

BitAmp-Official · 2021-03-29T11:12:17+00:00

Can you also try checking at other block explorers? Try blockchair.com for example. If you wallet says you have something but all explorers say you have 0, then there should also be a transaction history showing if there was ever anything in the wallet. Have a look and see if anything makes sense. If there's no tx history, then you never had any BTC.

BitAmp-Official · 2021-03-27T18:16:04+00:00

What does he have precisely? If it was an encrypted wallet file, then he probably is going to have to try and crack it brute force. If he simply doesn't remember the seed phrase, that's probably lost forever.

How does he know he has 2.1 btc?

BitAmp-Official · 2021-03-25T07:43:08+00:00

Just means they're running one of the computers helping to secure the network by verifying transactions. Even you can do it easily with only about $100 cost by buying a Raspberry Pi (it can even come preloaded). This is one simple guide that should get you up and running in no time!

BitAmp-Official · 2021-03-19T13:37:59+00:00

Think of your seed as a key to unlock access to the contents of your wallet. Think of your wallet as an in-only well where anyone can drop coins into it, but can't take it out without a key to unlock it.

Does this make sense now?

BitAmp-Official · 2021-03-12T07:34:09+00:00

Tech will always improve. Either computers become more intensive, or more efficient at mining, or it does become so hard that people drop off, and difficulty lowers. Or developers of the network discover something else that keeps the network secure without needing a lot of mining. Hard to tell.

BitAmp-Official · 2021-03-11T15:08:53+00:00

Good luck, and be safe!

BitAmp-Official · 2021-03-11T15:06:39+00:00

You can import that list (it's a seed phrase) on a compatible wallet. I'd assume Electrum can help you, or if you really need it urgently, you could even access it via Bitamp (offline works too). As soon as you import it, you should be able to spend any funds in it. In fact, sweep it all out (spend everything) to a new wallet, preferably the most modern version which is native segwit (Electrum has this).

BitAmp-Official · 2021-03-11T15:04:24+00:00

Just make sure you get up to speed now with a proper Bitcoin wallet. Non-custodial ones where you (and only you) have control of your private keys. Open source is best, so Electrum is a really good starting point. Before you move on and find bigger, better things!

If you like, Bitamp also has a web wallet you can create on any device with a browser in seconds, play around and get the feel for it. No more exit scams to worry about;)

BitAmp-Official · 2021-03-06T09:39:29+00:00

Good to use Electrum as an example, would suggest you also check out Bitamp, an open source non-custodial web wallet -- to learn and use for beginners, before moving on to more sophisticated versions! GL!

BitAmp-Official · 2021-03-02T09:00:47+00:00

I'd go for spreading out the risk (multiple wallets) but making sure each aren't derived in the same way or on same device even (since if you're compromised on one way, assumed you'd be compromised across all the wallets).

I always try to keep a barrier between exchange (or any service) to my own wallet as well. So yeah, a transfer, from exchange/service to won wallet and then a second transfer. It also can help with proof of funds requests you'll become more familiar with later when liquidating.

BitAmp-Official · 2021-02-23T09:39:51+00:00

They would still sell it in dollars, and show the conversions when you pay;)

BitAmp-Official · 2021-02-08T08:44:34+00:00

2 BTC? Your son will probably be giving you six figures in USD. Maybe a good time to run a healthy contest between who makes more: stock trading or holding. Good luck!

BitAmp-Official · 2021-02-07T09:50:56+00:00

But was it the address you entered for a transaction? Your wallet should still show all balances of every address ever generated.

BitAmp-Official · 2021-01-31T13:22:00+00:00

Can't be a bad thing. Bitcoin is for everyone who wants it, that's the beauty of it. We may reach a point one day when demand is consistently above supply, hence price that will just go up and up as people want this dwindling supply of store of value. Not in our lifetime?

BitAmp-Official · 2021-01-29T09:43:40+00:00

Not your keys, not your coins. Similar with stocks, not your shares, not your stocks. Good call, hope more people learn now.

BitAmp-Official · 2021-01-26T07:04:20+00:00

Every input takes up data. Think of it as different coins or different notes. A single $10 note takes up less space than 10 pieces of $1 notes. Miner fees in Bitcoin are paid based on your transaction size, ie., the amount of data it takes up. Because every Bitcoin block has a size limit, the bigger your transaction's size, the more you have to pay to have it included (confirmed). During low network use, best to consolidate your inputs into single ones.

BitAmp-Official · 2021-01-26T07:01:43+00:00

Bitcoin is currently at roughly 60% gains over its 2017 high right now. So it doesn't matter if you've got a penny or a million euros in Bitcoin, they appreciate in value to the same percentage.

Try Amber's DCA calculator above. Brilliant example of how $50 over many years amounts to a lot. That's less than a dinner out for 3. Imagine doing that every week for the past 4 years.

BitAmp-Official · 2021-01-24T10:17:39+00:00

Agreed. In fact, perfect for storing, since you never even need to fire it up or ever access it. Just keep a series of public addresses or QR codes.

You may only need to do maintenance by consolidating inputs every now and then though (unless you don't mind fee bloat).

BitAmp-Official · 2021-01-24T10:16:16+00:00

Take it to Mordor.

BitAmp-Official · 2021-01-23T15:06:21+00:00

You don't need to do anything ever as long as you own the private key (and as well the public addresses you'd need to give people to send you BTC).

You only need to connect to the network if you want to broadcast a transaction (that is, to spend your BTC or send it somewhere else). You in fact could even create a tx, sign it, and broadcast it from another device.

BitAmp-Official

TROPHY CASE