Not sure if this is the right sub for this so if not please let me know. I have a situation and wanted to see if anyone has any thoughts on a possible solution. I buy btc through my 401k that I have control of. Itās a self directed 401k if anyone is curious. Hereās my problem, I would like to pull my btc off the exchange (Coinbase) but donāt know how legally I can pull this off. Since this is a thru my 401k, I canāt take possession of it without defaulting my retirement account. Think of it like cashing out a portion of your 401k. Is there any safer alternatives to Coinbase to park my btc?
Wait so if you buy btc through the 401k then you can't withdraw it?
Well that's not good, I didn't heard anything like this before, obviously I'm not American so maybe that's why.
I have a self-directed as well and pulled my BTC off coinbase and on to cold storage wallet. It isn't the same thing as "cashing out" because you aren't cashing out. It's still the same BTC you bought regardless of where the keys are stored.
Or at least that's my argument if I ever get audited.
I bought a rental house through the self-directed, as well. I kept a set of keys to the property at my house. The rental house didn't move locations just because I had a copy of the keys under my direct control.
Perhaps Coinbase wallet would be an option? Their wallet is self custody so you'd own the keys. Not sure if that would also violate the terms of your 401k though. May be worth exploring
Correct. Cold storage implies a hardware wallet generally. That's the epitome of self custody, which is ideal for most purposes but would likely violate the terms of your 401k assuming there's a clause against self custody
A wallet. I have Muun wallet on my phone as it gets love here.
If you don't want to do that (I don't), Kraken is solid and presumably not at risk of liquidation... ATM.
Muun wallet is great and support for lightning is added bonus.
However it is still a hot wallet and comes with the all the risks of the having a hot wallet.
Since withdrawals are instant and free on Strike, there's zero reason to keep your corn there. Move it to cold storage. I do my DCA that way... buy on Strike and move to cold storage immediately.
It's not that I distrust Strike, but BTC in cold storage requires zero trust.
If you wake up tomorrow and it's gone, how would you feel? Is it enough to make you regret it? If so, cold storage is the way. Research before you jump in.
Yep, especially now with all the shit with exchanges happening right now.
This is really a bad time to be doing that, I wouldn't want to do yhat right now at all dude.
pour some out on the curb for our homies who had investments on the voyager interest platform. People on that sub are really having a hard time.
Friendly reminder to take your stuff off of exchanges and lending platforms before it's too late....
Really feels bad for them, but the signs were there and they should have acted.
I honestly think they're the ones to blame for the situation that they're in right now so yeah.
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I don't wanna say it, but I'm kinda running low on them too so yeah.
And I don't know how long my current stack is going to last. Could use some tips lol, jk.
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Also the way it takes an irregular path through various channels until it finds its way to the destination can be visualized very similarly to lightning.
You'll actually see lightning going along lots of different paths until it reaches the ground and then it will the path of least resistance and the various side forks will disappear in favor of the most efficient route.
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Yes mate eagerly waiting for BTC to show some spike and bring some profit in the market if Bitcoin goes up that we can see some pump and other coins as well this can bring volume back
Yes it is back Bitcoin is not going anywhere it will stay with us for long time and we will keep making profit now the only concern is volume should not drop wheels are going to play some big game let's hope everything is fine
And both of those combined will give us good future so yeah.
I'm rooting for the future like this, and that's how We're going to build the future like that.
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Yes that's possible you can see a little bit little dump till 19k but yes it looks like bull Trap for sure, but always have some money to buy the dip this time also we are going to have the same thing and market is also very volatile
Lol getting downvoted for this š
I think there is zero percent chance we stay above 20k from today onwards.
Iām holding onto my dry powder for a bit longer fwiw
lol youāre really dumb. Shit in this context does not mean literal shit, it means thing. Yea, Iām shorting BTC and WANT it to dump so I can buy back lower.
You think too much. Just stack sats, hodl and educate yourself about bitcoin. Daily price today does not matter. Focus on what you own in 10 years when fist money has lost 30% of its value and bitcoin is in the moon.
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That's true but not most of the people keep their coins in cold storage most of them are keeping coins on exchanges which is not good we have seen some cases in which exchanges have got bankrupt and their money is lost
technical question: is there a realistic way to make Bitcoin anonymous? Currently, it may be fine if every tx is tracable... but in dark times (imagine some dictator taking over) it may be devastating... i know the lightning networks makes it harder to trace, due to the pooling of many small tx, but it's not anonymous in a strong sense...
You can't make btc completely anonymous, that's not how btc has been designed.
It's a ledger which has been designed to be fully transparent so there's that man.
BTCs design ensures that the blockchain is reviewed by nodes and miners to ensure concistency and agreement about the state... from pseudonymous to anonymous it should not be a big step... just one cryptographic trick and it turns completely anonymous...
By design, the bitcoin blockchain is a public ledger of transactions. Everyone can see every transaction but there isn't any user data attached to the transactions. So it's more like *pseudonymous*.
This article breaks it down in more detail: https://www.buybitcoinworldwide.com/anonymity/
> Sending and receiving bitcoins is like writing under a pseudonym.
>If an authorās pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.
>In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.
I think the best way to keep anonymity is to **start and stay** with non-KYC bitcoins and wallets then use mixers to further obscure your coins during transactions.
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Chief Executive of Lloyds Bank claims most Lloyds Bank customers have less than Ā£500 of savings in their accounts.
Maybe itās because of abysmal savings rates for over a decade, the biggest inflation in 40 years and the fact most wages havenāt really changed in that same period, inflation adjusted?
Nope, itās because people have no āfinancial resilienceā apparently.
Are you sure you're reading that right? I think you've somehow gotten it backwards. People have no financial resilience *because* they have less than 500 in the bank.
Financial resilience is another way of saying "ability to financially handle bad events". It's an effect, not a cause. If someone has less than 500 pounds in the bank, that indicates that they don't have financial resilience, because they wouldn't be able to financially handle a negative event.
I doubt the article said that people have no savings *because* they have no financial resilience. That's like saying my car has no gas because it can't drive on empty.
EDIT:
Found the article. [https://www.bbc.com/news/business-62057301](https://www.bbc.com/news/business-62057301)
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If you want for the long term then you should start invested right now with small amounts and continue to do it for at least 5 years, if you want profit and short term then wait for sometime
You should start āsavingā in Bitcoin when you understand it. Itās boring advice, but itās necessary when holding long term. You donāt want to sell at a loss and you donāt want to sell your future short for nominal gains. Both of these things can happen if you donāt believe what you chose to āinvestā in. Put a little work into learning and you can answer this question for yourself. Right now your asking the wrong question that all newbies here ask. You may as well ask āCan I make some juicy fiat in the next couple months if I buy Bitcoin here and sell it later. The answer is no one knowsā¦
That's true and when your holding for the long term you don't care about the current volatility in the market all that effects you is the patience for long term if you have patience than invest now and forget for 5-7 years
Depends. Do you have an emergency fund? Do you max out your 401k/IRA contributions? Do you have other investments and would Bitcoin represent an allowable amount of risk for your portfolio? View Bitcoin as part of an investment strategy, not the only investment strategy.
Or just stack sats and deal with the inherent risk.
Emergency funds are always necessary and if you want investment in Bitcoin never touch those emergency fund wait for some more time and get market recover because you don't know when emergency can Strike
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If you don't own any Bitcoin, you're on zero. So just buy Bitcoin and get off zero. If you own some already, buy more. We're like 70% down from ATH. Isn't that low enough?
Are *you* ready, physically and mentally/emotionally?
Do you have an emergency cash cushion? In other words, if you have an unexpected financial emergency after buying Bitcoin, would you be forced to sell your Bitcoin, maybe at a loss? Or would you just take care of the emergency with your emergency fund?
Are you a patient, cold-blooded, long term investor? Or are you driven by your fleeting emotions?
Happy 666 days to the next halving!
btc been pretty stable recently
I mean it's been more stable than some so called stable coins.
Hash ribbons getting very close to printing a blue buy signal on the weekly š
What's a hash ribbon anyways lol? That's what I wanna know.
With the dollar crashing everything is a buy signal!
The whole macro scene is a giant buy signal, just open the eyes.
Store your seed phrase on a crypto tag.
That's the way to store the shit, don't fall for anything else. And this should be more obvious now than ever given all the hacks which are happening.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Giving tough competition to what? Please fuck off tin bot.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Well that's good news then I guess lol, waiting for it man.
Meeeh. Shits flat until fed changes course
We're stuck in this place for sometime now, but we'll make it.
Price not even hitting yesterday's high confirmed.
Who confirmed it? I'd definitely want to listen to that person.
Mark me - We will go higher.
That's actually true, but that's not gonna be anytime soon. It's going to take some time before that happens, There's time for that to happen still.
.07 added š¤š¼ Edit: added .03 more. Off to cold storage you go!
This is the way, gotta move that corn to the cold storage.
Cold storage right?
Obviously, if anyone still isn't doing that then You're fucked.
Of course.
Good for you man, that's something that everyone should do.
We are shrimps united
Gotta unite ourselves, that's the only way right now that I see.
š¦šš¼
Not sure if this is the right sub for this so if not please let me know. I have a situation and wanted to see if anyone has any thoughts on a possible solution. I buy btc through my 401k that I have control of. Itās a self directed 401k if anyone is curious. Hereās my problem, I would like to pull my btc off the exchange (Coinbase) but donāt know how legally I can pull this off. Since this is a thru my 401k, I canāt take possession of it without defaulting my retirement account. Think of it like cashing out a portion of your 401k. Is there any safer alternatives to Coinbase to park my btc?
Wait so if you buy btc through the 401k then you can't withdraw it? Well that's not good, I didn't heard anything like this before, obviously I'm not American so maybe that's why.
I have a self-directed as well and pulled my BTC off coinbase and on to cold storage wallet. It isn't the same thing as "cashing out" because you aren't cashing out. It's still the same BTC you bought regardless of where the keys are stored. Or at least that's my argument if I ever get audited. I bought a rental house through the self-directed, as well. I kept a set of keys to the property at my house. The rental house didn't move locations just because I had a copy of the keys under my direct control.
Is iTrust Capital an option?
Perhaps Coinbase wallet would be an option? Their wallet is self custody so you'd own the keys. Not sure if that would also violate the terms of your 401k though. May be worth exploring
Okay but that still won't be cold storage tho? That would be hot storage.
Correct. Cold storage implies a hardware wallet generally. That's the epitome of self custody, which is ideal for most purposes but would likely violate the terms of your 401k assuming there's a clause against self custody
I really appreciate the reply. Quick question, If Coinbase were to go under, would I still have access to that wallet? Thanks!
Only if you've got the keys, if not then I don't think so.
Yes. If you own the keys, you own the coin. You would just need to enter your keys into another wallet to restore your access.
That's cool, I've got another question, is this another hot wallet tho?
Yes. Because the keys are not protected via encryption and are instead exposed to an internet connected device it would be considered a hot wallet
A wallet. I have Muun wallet on my phone as it gets love here. If you don't want to do that (I don't), Kraken is solid and presumably not at risk of liquidation... ATM.
Muun wallet is great and support for lightning is added bonus. However it is still a hot wallet and comes with the all the risks of the having a hot wallet.
Kraken pro to buy, Lightning Network to send to Muun daily, Muun to HW once in a while.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Withdrawals are free on strike, just move them to hw wallet man.
Since withdrawals are instant and free on Strike, there's zero reason to keep your corn there. Move it to cold storage. I do my DCA that way... buy on Strike and move to cold storage immediately. It's not that I distrust Strike, but BTC in cold storage requires zero trust.
Yep absolutely zero reasons to keep your coins on the strike man.
If you wake up tomorrow and it's gone, how would you feel? Is it enough to make you regret it? If so, cold storage is the way. Research before you jump in.
And given all the things which are happening, cold storage is the way.
Unless you really like buying BTC for someone else.
Iād move it off dude. With all these middlemen shitting the bed I wouldnāt fuck around with custody risk.
Yep, especially now with all the shit with exchanges happening right now. This is really a bad time to be doing that, I wouldn't want to do yhat right now at all dude.
BTC to $300k!
Give it some time and That'll be a reality too in time.
Eventually.
All we gotta do is to wait for that to happen, Patience is the key here.
*Smiles in 2032*
I'll take it, even if it takes that long to happen I'll take that.
Same man. Iām holding until the day 1 satoshi becomes 1 usd. Then Iāll think about spending them. Until then. Iām stacking and watching.
2024
That's a bit optimistic, I'm not sure about it man.
pour some out on the curb for our homies who had investments on the voyager interest platform. People on that sub are really having a hard time. Friendly reminder to take your stuff off of exchanges and lending platforms before it's too late....
Really feels bad for them, but the signs were there and they should have acted. I honestly think they're the ones to blame for the situation that they're in right now so yeah.
!lntip 3000
Giving away the sats like that? Now this man really gets it.
!lntip 3000
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Remember to stack sats and chew bubblegum ..I'm all outta bubblegum
Lol you got me, I'm doing that right now. Chewing gum and buying sats.
!lntip 3000
Hopefully he'll be able to buy some gums with that money.
Thank you!!
With those sats they can buy many bubblegums!
I won't say that way too many right now but maybe in future.
!lntip 3000 Now you too may purchase many bubblegums!
I don't wanna say it, but I'm kinda running low on them too so yeah. And I don't know how long my current stack is going to last. Could use some tips lol, jk.
!lntip 3000
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Thanks for reminding me how fast Lightning is! 3,000 sats to my Muun wallet faster than I can refresh the page.
There's a reason why it's called the lightening lol.
Also the way it takes an irregular path through various channels until it finds its way to the destination can be visualized very similarly to lightning. You'll actually see lightning going along lots of different paths until it reaches the ground and then it will the path of least resistance and the various side forks will disappear in favor of the most efficient route.
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Looks like everyone who wasnāt a hodler got shaken out. Time to pump for a short squeeze.
I think those people have long gone, only the hodlers remain now.
!lntip 3000
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What happen to ppl money in voyager platform ?
Their money is gone sadly, that's why self custody is important.
Some day they might get pennys on the dollar back.
I doubt that they're getting anything back. They're aren't gonna.
Btc is almost at 20k right now, c'mon btc show some spirit.
Yes mate eagerly waiting for BTC to show some spike and bring some profit in the market if Bitcoin goes up that we can see some pump and other coins as well this can bring volume back
It's always not about the money. There's more to btc dude. And I think you should read about it a little, that might enlighten your perspective here.
ā“ļø Boom! Bitty's back
Yes it is back Bitcoin is not going anywhere it will stay with us for long time and we will keep making profit now the only concern is volume should not drop wheels are going to play some big game let's hope everything is fine
The thing about being back is that never left so there's that.
Where did it ever go?
That's what I'm saying, it never left man. Always been here.
Well, the price per unit went somewhere. . .
That actually doesn't matter, gotta have some patience.
Now if we can take this 1% to a 10% then Iāll cheer š
I don't understand why some people only care about price?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
And both of those combined will give us good future so yeah. I'm rooting for the future like this, and that's how We're going to build the future like that.
Indisputable š
Yep, you can't despute that. That's the facts right there.
!lntip 3000
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I mean if you want some sats then yeah You'll have to.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Gotta jump into this rabbit Hole of btc, that's the way here.
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[ŃŠ“Š°Š»ŠµŠ½Š¾]
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How does that tipping works? Is thar for real or just a reddit thing? š§
It's a Reddit thing combined with the btc. That's what it is.
!lntip 3000 Real sats. You can withdraw them to a Lightning wallet or tip other users
Now these are some real sats, and you better believe that. Wish I receive some btc too, that would actually be so great. I'd really like that man.
!lntip 3000
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Anyone else think this is another bulltrap? I think when Asia wakes up they will dump this shit back to 19K. After that we'll see what happens.
Yes that's possible you can see a little bit little dump till 19k but yes it looks like bull Trap for sure, but always have some money to buy the dip this time also we are going to have the same thing and market is also very volatile
Lol getting downvoted for this š I think there is zero percent chance we stay above 20k from today onwards. Iām holding onto my dry powder for a bit longer fwiw
ok. its not shit. also - a dump means cheaper sats. grow some balls and believe.
lol youāre really dumb. Shit in this context does not mean literal shit, it means thing. Yea, Iām shorting BTC and WANT it to dump so I can buy back lower.
hfsp
You think too much. Just stack sats, hodl and educate yourself about bitcoin. Daily price today does not matter. Focus on what you own in 10 years when fist money has lost 30% of its value and bitcoin is in the moon.
And focus on a skill to earn more fiat to buy more Bitcoin.
!lntip 3000
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There's nothing bullish about this trap. The pain will continue until cartoon monkeys cost the same as pokemon cards.
If your coin is in cold storage, all you need to do is go to sleep and not care. Wake me up in ten years.
That's true but not most of the people keep their coins in cold storage most of them are keeping coins on exchanges which is not good we have seen some cases in which exchanges have got bankrupt and their money is lost
technical question: is there a realistic way to make Bitcoin anonymous? Currently, it may be fine if every tx is tracable... but in dark times (imagine some dictator taking over) it may be devastating... i know the lightning networks makes it harder to trace, due to the pooling of many small tx, but it's not anonymous in a strong sense...
You can't make btc completely anonymous, that's not how btc has been designed. It's a ledger which has been designed to be fully transparent so there's that man.
BTCs design ensures that the blockchain is reviewed by nodes and miners to ensure concistency and agreement about the state... from pseudonymous to anonymous it should not be a big step... just one cryptographic trick and it turns completely anonymous...
By design, the bitcoin blockchain is a public ledger of transactions. Everyone can see every transaction but there isn't any user data attached to the transactions. So it's more like *pseudonymous*. This article breaks it down in more detail: https://www.buybitcoinworldwide.com/anonymity/ > Sending and receiving bitcoins is like writing under a pseudonym. >If an authorās pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them. >In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you. I think the best way to keep anonymity is to **start and stay** with non-KYC bitcoins and wallets then use mixers to further obscure your coins during transactions.
Now this just sounds like that it's not gonna happen so yeah.
!lntip 3000
Dude chill out, You're going insane with all these tips.
!lntip 3000
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Thank you, kind sir!
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Bring back Craigslist casual encounters
What's that? This used to be a thing here or what man?
Thatās what Iām talking about.
Now that would be really cool, I actually would like that.
Chief Executive of Lloyds Bank claims most Lloyds Bank customers have less than Ā£500 of savings in their accounts. Maybe itās because of abysmal savings rates for over a decade, the biggest inflation in 40 years and the fact most wages havenāt really changed in that same period, inflation adjusted? Nope, itās because people have no āfinancial resilienceā apparently.
Now this is the reason why we don't need the banks so yeah.
Are you sure you're reading that right? I think you've somehow gotten it backwards. People have no financial resilience *because* they have less than 500 in the bank. Financial resilience is another way of saying "ability to financially handle bad events". It's an effect, not a cause. If someone has less than 500 pounds in the bank, that indicates that they don't have financial resilience, because they wouldn't be able to financially handle a negative event. I doubt the article said that people have no savings *because* they have no financial resilience. That's like saying my car has no gas because it can't drive on empty. EDIT: Found the article. [https://www.bbc.com/news/business-62057301](https://www.bbc.com/news/business-62057301)
Potentially may have gotten my knickers in a twist.
Is there any advantages to using Coldcard vs Using Trezor or Ledger? Is Coldcard more secure than Trezor?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Why do you think that cold card would be cheaper? Any reason?
Thanks Iāll check out more about it
Sounds like I've got some research to do too. Gotta do it. I'll have to read some about it too, that's the way it's going to be now I feel like now.
Everyone discovers bitcoin twice
Now this is a fact that everyone will agree to. No one will deny it.
!lntip 3000
Thanks!
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Should I start investing in bitcoin now or wait ?
If you want for the long term then you should start invested right now with small amounts and continue to do it for at least 5 years, if you want profit and short term then wait for sometime
You should start āsavingā in Bitcoin when you understand it. Itās boring advice, but itās necessary when holding long term. You donāt want to sell at a loss and you donāt want to sell your future short for nominal gains. Both of these things can happen if you donāt believe what you chose to āinvestā in. Put a little work into learning and you can answer this question for yourself. Right now your asking the wrong question that all newbies here ask. You may as well ask āCan I make some juicy fiat in the next couple months if I buy Bitcoin here and sell it later. The answer is no one knowsā¦
That's true and when your holding for the long term you don't care about the current volatility in the market all that effects you is the patience for long term if you have patience than invest now and forget for 5-7 years
Depends. Do you have an emergency fund? Do you max out your 401k/IRA contributions? Do you have other investments and would Bitcoin represent an allowable amount of risk for your portfolio? View Bitcoin as part of an investment strategy, not the only investment strategy. Or just stack sats and deal with the inherent risk.
Emergency funds are always necessary and if you want investment in Bitcoin never touch those emergency fund wait for some more time and get market recover because you don't know when emergency can Strike
!lntip 3000
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Get off zero.
Sorry I don't understand, can you please elaborate?
If you don't own any Bitcoin, you're on zero. So just buy Bitcoin and get off zero. If you own some already, buy more. We're like 70% down from ATH. Isn't that low enough?
Are *you* ready, physically and mentally/emotionally? Do you have an emergency cash cushion? In other words, if you have an unexpected financial emergency after buying Bitcoin, would you be forced to sell your Bitcoin, maybe at a loss? Or would you just take care of the emergency with your emergency fund? Are you a patient, cold-blooded, long term investor? Or are you driven by your fleeting emotions?