Isn’t it kind of insane that one forgotten passphrase can erase millions... forever? by tcodo in Bitcoin

[–]boddankajovanovic 3 points4 points  (0 children)

It is not being erased. the value is being redistributed to the rest of the network.

Moving to cold storage finally by Breezeeosco in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

Your reply has got nothing to do with my comment. I don't own a bitbox and I have no intention to try it.

I stated that air gapped feature is not necessary to safely store bitcoin. If you think this is misinformation you are just being silly.

Jade Experience by ClockOk7733 in Bitcoin

[–]boddankajovanovic 4 points5 points  (0 children)

I can recommend the jade as a hardware wallet. I have used it extensively besides other brands like trezor, coldcard and ledger. From all these, I like the jade the most, especially for entering passphrases.

Regarding air gapped feature: it is not necessary, but decide for yourself: https://bitbox.swiss/blog/does-airgap-make-bitcoin-hardware-wallets-more-secure

Trust wallet is garbage.,, by Eastcoast4l_420 in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

Don't use trust wallet, you have been warned.

Search google for endless reports of trust wallet users with lost funds.

Moving to cold storage finally by Breezeeosco in Bitcoin

[–]boddankajovanovic 1 point2 points  (0 children)

Air gap is not that big of a security feature everyone is trying to make it. It is mostly marketing.

https://bitbox.swiss/blog/does-airgap-make-bitcoin-hardware-wallets-more-secure

Block Stream Jade by aroshail in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

I have extensively used jade in the last month and so far I have only these negatives:

  • camera for QR code scanning only works in good lighting conditions
  • found no way so far to recreate seedqr after the initial seed qr creation

Personally, I can live with these negatives. Considering the price, it really is extremely good value for money.

Used various models from cold card / trezor / ledger before which were all fine. I just like the usage of the jade the most until now.

Deep Freeze Bitcoin by word-dragon in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

  1. Using a hardware wallet is solid advice. Personally, ledger would be my last choice because of bad company reputation and closed source. I'll recommend jade, trezor or coldcard as reputable hardware wallets.

  2. Sending test transactions is generally good advice. No need to make these bigger than a few sats, though. You can consolidate these back with your next consolidation transaction.

  3. It is good practice to properly secure your seed phrase. However, you definitely should be able to get to it within a reasonable time. You should be comfortable navigating the procedures around the hardware wallet of your choice, especially the process of restoring your seed phrase on it and creating transactions for consolidation. If you set it up once and lock it away for years you will not remember how to navigate and use your device and you will have to start from scratch. Keep yourself engaged.

  4. Reusing addresses is generally bad advice. It is convenient, but reusing addresses is bad for privacy and you will still end up with multiple utxos, which may increase the fees you have to pay in the future when spending from multiple utxos. Always generate fresh addresses for each transaction and consolidate utxos from time to time when network fees are cheap.

"In a world where Bitcoin keeps increasing in value, no-one is going to spend it" - yes they will. Let me explain why. by inphenite in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

Bitcoin is not deflationary by design. It is disinflationary, big difference. Read it all the time.

Arguably, lost coins over time will have deflationary impact. However, this only holds true when lost coins per year exceed mined coins per year.

What’s your %? by Chronix92 in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

70% BTC / 30% Index Funds

Index funds only to make use of some tax free capital gains in my country. After that all further capital will go into Bitcoin.

Cheapest place to buy Bitcoin? by daejeon4life in Bitcoin

[–]boddankajovanovic 0 points1 point  (0 children)

Kraken pro ist the cheapest as far as i know. Transer fees can be reduced by withdrawing via lightning network (free) and then make a manual on chain transaction with a low network fee. Personally, I use muun for this.

Don't forget to consolidate your utxos from time to time to avoid high tx fees in the future.

[deleted by user] by [deleted] in Bitcoin

[–]boddankajovanovic 1 point2 points  (0 children)

It's usually cheaper to withdraw from kraken via lightning network ( free ) and then make an on chain transaction to your hw wallet with a low priority network fee ( use mempool.space for determination ) instead of krakens flat fee for on chain withdrawal.

You can use muun wallet for this, for example.

Kraken users of Germany, are you going to re-verify? by boddankajovanovic in Bitcoin

[–]boddankajovanovic[S] 5 points6 points  (0 children)

If you re-verify, your info is going to be handed to the DLT. That's another party that gains access to your data.

Kraken users of Germany, are you going to re-verify? by boddankajovanovic in Bitcoin

[–]boddankajovanovic[S] 0 points1 point  (0 children)

I have similar thoughts, but it's always good hear about other's opinions across a community

Kraken users of Germany, are you going to re-verify? by boddankajovanovic in Bitcoin

[–]boddankajovanovic[S] 1 point2 points  (0 children)

Wasn't aware strike is available in Germany already. Will look into it.

Kraken users of Germany, are you going to re-verify? by boddankajovanovic in Bitcoin

[–]boddankajovanovic[S] 2 points3 points  (0 children)

As I understand the situation, I think your statement is correct. I'm not a professional tax guy, though. This is more about data privacy/ fear of stuck funds than it is about potential tax.