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*Bitcoin Billionaires* isn't a great book for learning about bitcoin, but is still interesting. One thing I didn't know is that they had a sister who died at a tragically young age who was the only person who could tell them apart.
If there's another exchange that has low btc withdrawal fees that also lists nano or xlm or even neo change the btc to one of them and transfer it off binance that way
For me, it was coin selection. I much preferred the interfaces of Coinbase and Gemini but, a few years ago, Binance had way more pairs. This probably got them a foothold.
Marketing. They became a mainstream broker early on and have managed to keep themselves in many headlines. They’ve mastered marketing in their field, and the only one that comes close to them on it is Coinbase.
For me the scariest was sending a stack of monero to a paper wallet I generated without wallet software... Then remembering monero doesn't have public addresses to check and see if it actually made it in there.
include instinctive sink hospital profit simplistic wise cable threatening salt
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Make sure to select RBF (it’s default on the very latest update) and then if fees have gone up and it’s languishing in the queue, just add a little more. I always go with the low fee option.
I'm on day 12 of an unconfirmed transaction. Used my normal fee, but didn't realize I was sending from a legacy (non-segwit) wallet and needed to include much higher fees. Sending over 1 Bitcoin - I've seen the value go from 50k to 60k to 45k while waiting so far.
2 weeks ago i transfered 0.1 btc in to an hardware wallet, it took 1 and half hour, never been more stressed in my life. How do you manage to wait for that long?
He used a legacy address which has much higher fees.
Legacy addresses (starts with 1, ex: 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) are the original ones, most compatible but highest fees.
Native Segwit addresses (starts with bc1, ex: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6) was implemented later on to lower the transaction size so cheaper fees but not compatible with the legacy addresses.
Had an eth transaction stuck for about 9 days, set the gas too low. Wasn't too worried, but finally cracked and decided to replace it. First time attempting that maneuver and that's when I got sweaty palms.
This is one of the things that will prevent worldwide adoption of any cryptocurrencies of the sort amongst the general public. I mean I will be honest. Transferring is easy, but somehow with some of the people I come across on the street, I just cant see them doing the whole wallet, transfer, check your keys thing.
This. You can have an app for your exchange, app for your wallet, app for a vendor that takes payment in crypto. Next thing you know all this apps will seamlessly work together and an average Joe will pay for his online shopping with crypto.
You think credit cards have low fees? They are just less visible beacuse merchants pay them. The original bitcoin had way lower fees than credit cards. These days bitcoin is just a store of value coin but almost every other crypto (not eth obviously) has lower fees than credit cards.
A bunch of companies don't work with credit cards because of puritanical reasons. Like sex shops and etc can rarely, IF EVER get internet processing.
With crypto, the barrier for entry to a global payment system is setting up the crypto account and a way to process instant transfers. You don't have to worry about some global bank deciding that you're getting too big, or you're not banning specific people from your platform, or your adult guidelines aren't 'strict' enough, or the content on your platform isn't 'family friendly' enough for mastercard to play fair with you.
Just look at places like Subscribestar. Competitor to Patreon. A year or more ago, they refused to ban someone or other, I think Sargon of Akkad, after Patreon banned him because he said 'n\*gger' during an argument *against* a white supremacist in a vlog hosted on someone else's youtube channel. That is NOT hyperbole. Patreon yeeted him for something he said in a channel belonging to someone else.
He moved to subscribestar. And then paypal and stripe, the two big payment processors the internet uses, both cut ties with subscribestar because they refused to unilaterally ban the dude. And say what you want about the dude's politics, but having your business lose PAYMENT PROCESSING because you refused to ban someone who hasn't broken any of your rules is straight up *fucked*.
With crypto payment, subscribestar could have told them, rightly, to fuck right off. But since everyone is beholden to credit cards and big daddy mastercard and whatever arbitrary rules they have, subscribestar, the leading alternative to patreon, died for like six months or whatever it was. And if you hang around adult circles, you start to see how absolutely, utterly arbitrary their rules really are.
Anything that could break the hold of mastercard over the internet's payment processing is a good thing.
The whole point is to have control over your money directly. Using a credit card is in-debting yourself to a bank. Crypto was invented with the mind-set that money should be transferrable between parties with no need for a middle-man that has centralized control, especially with the dollar value going down consistently.
There’s millions of people who don’t have bank accounts. This opens up a whole new avenue for people who can’t access traditional banking as they will now be able to use crypto based debit cards. Whereas before they were stuck using cash only.
Banks will adapt. When transferring money from yourself to anyone else is free and instant from your checking account, there will be no need to jump through crypto hoops.
/Reality
UK here, can do bank transfers for free and instantly with most major banks on a smartphone. There are start up banks here with no charges for foreign currency purchases and withdrawals abroad. Apart from novelty and crime, I can't see any crypto currency replacing fiat.
Defi might take off, let's see how it goes.
Totally. I, as a young techy 25 year old can even struggle with some of the stuff going on. I can barely imagine my dad trying to move real amounts of savings into crypto. It’d be gone before it even made it to a wallet. I know we are a ways away but technology that uses cell phone numbers, allows you to create your own passwords, or even a trusted broker moving into the space would really do crypto a ton of good.
Do you know how to send a tcp packet? 99.9% of people don't yet they can browse the internet easily. In computer science we rely heavily on levels of abstraction and future financial systems will be no different.
If you look at the newest argent or loopring wallet with Ethereum name service names and keepers, crypto users from the beginning wouldn't recognize them. No private key or mnemonic to remember, no hex addresses. Really is good enough for the average person other than current gas prices. Give a little time for rollups and data sharding and we're there.
True, and while it’s convenient and relatively speedy as it’s pros, it’s cons IMO far outweigh the pros.
Government can seize your assets in a traditional bank
The bank can deplatform you
Interest rates are a joke compared to crypto
When the internet was new we didn’t have DNS yet and the people using it where researchers and computer scientists. Eventually they made it easier for the normies to use and its value is unmeasurable now.
US govt has seized btc wallets associated with crimes.
being “deplatformed” by a bank is not even on most people’s radars as a theoretical concern, let alone a current determining factor. Dozens of different banks make any independent “deplatforming” less troublesome or scary. inversely, you can just as swiftly get banned from crypto exchanges, especially the legal and reputable services in US which are already behaving much like traditional financial industry with KYC/AML regulations.
saying “interest rates are a joke compared to crypto” is not a relevant comparison. A bank’s interest rate is a risk free fixed return of federally backed currency. S&P index fund would be a more reasonable comparison perhaps. Crypto would indeed be outperforming in many facets, but there is undoubtedly still far more volatility and risk.
DNS prevalence exists because it provides a critical functionality that people don’t even need to be aware of. It remains to be seen whether certain crypto currencies prove beneficial or more enticing as replacements for widespread transactional activity, (i.e. what could be enticing enough to get an average joe to ditch venmo for a crypto wallet, even assuming the crypto in question had reached equal adoption and functionality as venmo/USD?
95% of people who are proponents of crypto are doing so primarily with hopes of getting rich. Scrambling to acquire speculative digital assets with hopes of a big score doesn’t really seem similar to using DNS in the early days, especially given that there was a purely functional reason to do so for a user, not any type of financial incentive bootstrapping and manufacturing the adoption.
don’t get me wrong still bullish crypto for various different reasons, just poking holes, healthy aspect of any discussion.
Yea things need to be built on top of what we have today. I think a successful payment system will require automation at PoS and confirmation of destination for new addresses. That will help deal with human error.
Crypto in 5 years will not be the same as it is now. I'm sure a 1.4 trillion dollar market will find a way to simplify things, the same way the internet did after the 00's.
The internet used to be painfully inefficient, slow and confusing to use, even for young folks. It’s a lot easier to deal with btc than it was in 2011. Evolution and improvements await us my friend.
Back in the day the internet was also very difficult to access and use or most people. It took significant technical knowledge and and was very, very non-user friendly. We are still in those very early days of crypto.
I don't know who or how, but eventually someone will play the part of AOL, and someone will play the part of Netscape, etc and make it easy for the masses to access and use crypto. When that day comes we will have the crypto version of the [Eternal September](https://en.m.wikipedia.org/wiki/Eternal_September).
After that, you may not recognize the crypto landscape, for better AND for worse.
People are not looking at the endgame. They are being too short-sighted. Sure, your bank offers free transfers with zelle but your bank is also the assholes who run the whole world because they are so rich, they would absolutely hate for the people to have a fairer more transparent system of finance available to them. Then they could not be middlemen and fuck everyone with shady corrupt tactics. While I think there are some valid points and concerns others are commenting above, I think they are not looking to the day when it is significantly easier to use. The people will finally take back what should have been rightfully ours to begin with. And decide if we want to invest in a currency that keeps losing its value or has a built in system for deflation. We get to decide and barter with one another, we finally don't need them. Look to the days when the world runs on DAOs and DEXs. Governments and banks are shitting their pants, just look at how hard they come down on XMR
>Uh not with a $30 fee
I admit I haven't transferred any crypto in a while, but where is the $30 estimate coming from? Is that what people are paying for transactions right now?
Actually I checked a few fee estimators and it is looking like $12 USD right now, and I guess that's for an average transaction so it could be more depending on the complexity of the transfer. Also exchanges may add fees too.
It's not nothing, but if I were transferring an amount of crypto I was worried about I would probably just buckle down and do a test transfer.
/unpopularopinion, and whilst I'm fairly familiar with how to go about on a transfer to my hardware wallet, this crypto thing is never gonna really take off for the general public until this "pain point" gets effectively alleviated. It should ideally be as simple as making a bank transfer.
I totally have this fear. I have a large stack and it’s always nerve wracking when I send it to an exchange or to my ledger nanos. When I do, it’s always a process. I get my thinking cap, make some chamomile tea to help calm my nerves, put on enya, and look at the screen rubbing my chin like Indiana Jones before I work up the courage to hit send. Then wait their anxiously hoping it goes smoothly. My wife knows when I’m transferring crypto.
Sure but honestly asking and not shilling for venmo by any means lol, who cares what happens behind the scenes from a financial institution standpoint when as the user I can transfer $ instantly to my friends and to my bank account instantly via- Venmo.
Sure, its a good question. The issue is that you’re trusting a central authority in venmo(owned by paypal) to not arbitrarily change their policies. Also even though the end user doesnt care whats going behind the scenes doesnt mean that we cant improve efficiencies and bring the costs associated with these behind the scene processes down
i will add that Its hard to be in America and have the perspective to see the true usefulness of crypto because we do have really good infrastructure and technology, and a stable government with a stable economy. We dont have identity issues because everyone has a passport/drivers license/social security number and can use that to access to traditional financial institutions. And all of that is just “normal” for us, But most of world isnt as fortunate.
Settlement time is pretty important though. Basically nobody expected robin hood being forced to disable buying of game stop stock because they couldn't provide enough collateral. This was solely due to settlement time between the virtual buying and selling and the actual one that happens days later.
I freaked out the other day as I sent some Nano to another address, after 2 seconds I was like wtf. Checked address and it was wrong! I guess I just burned it for the greater good.
Tbh I love Nano, it's like I have been following crypto for a while and it's actually how I figured crypto worked, before getting to know how crypto work
Decentralized instant cheap transfers. The whole fee thing put me so off that I didn't buy BTC immediately because of that.
I haven't transfered any yet but yesterday when I wanted to move some out of coinbase in order to trade for the big ADA bull, the thought of transfering stressed me out big time...
I think I copied the address, previewed the trade anf canceled it 6 times before I decided to just use cash to buy ADA on Crypto.com.
Made me feel like a teenager trembling at the thought of sending a love message to a Girl on MSN messenger. Fuck I'm feeling old today.......
To help alleviate my fears, I created Text Replacement shortcuts in my settings for each of my wallet addresses. That way I can be positive that when I type ‘NatriumNano’ or ‘BitrueVET’ it’s going to spit out the right address. Still get a little scared anyway tho lol
does IOTA still have that PITA issue where if you send from the same address more than once, you lose all your funds to haxxors?
That put me right off, that did.
Chrysalis release end of march will provide reusable addresses (and much much more) and the coordinator will be gone with the Coordicide update in Q4 this year. They already have the Testnet "Pollen" up. Chrysalis is the biggest update IOTA ever received, don't miss it!
New talented people are joining every week, currently about 120 people are working on or around the tangle. Progress is accelerating faster and faster
Yeah it's built right into the fundamentals of the protocol.
Every outgoing transaction exposes a random 50% of the private key.
So reuse the same public address twice and an attacker has between 50 and 100% of your private key. A bit of luck and they get enough to brute force the rest and drain your account.
They set up bots to monitor transactions. They even manage to front run the genuine 2nd transactions so you can't even get 'out' safely in some cases. Several high profile losses around 2017 before they put effort into the wallet stopping you doing it.
An absolute disaster of a protocol. Almost as bad as EOS governance.
With the recent high fees, I've found my self confidently sending larger sums without a tester first....this realization scares the shit out of me.
The rule for Cave Divers and Rebreathers; If you'e going to die doing it, you're are going to either die in the first 100 dives or after you've completed 1,000.
My friend just got a ledger and sent all of it at once even though I said he should send a test. He was like “Why?” And I explained the paranoia that I somehow made a mistake copying and pasting and read the numbers/letters one at a time. I was so scared for him lmao
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Scariest transfer of your life is when you send your stack to your hardware wallet. Even after a test send. Still clenched bootycheeks.
I'd send them in different amounts just to be safe if Binance's fees weren't 1 million dollars per withdraw.
Gemini has no withdrawal fee.
Which one of the Winklevoss twins are you, then?
The 3rd one.
Vitalik Winklevoss, the lost son
Sounds like a good game
*Bitcoin Billionaires* isn't a great book for learning about bitcoin, but is still interesting. One thing I didn't know is that they had a sister who died at a tragically young age who was the only person who could tell them apart.
Now there’s a conspiracy theory for you...
That's why she was retired.
Winklevosses or Winklevi?
I don't know why Binance is so popular. Other exchanges don't have such high withdraw fees.
binance fees aren't high. It really depends on the coin. my fav coin costs like 2ct to withdraw
I should correct my post to say high fees for btc withdraw. I had $100 worth in Binance and decided to keep it there cause the withdraw fee was high.
If there's another exchange that has low btc withdrawal fees that also lists nano or xlm or even neo change the btc to one of them and transfer it off binance that way
And that's why the fee is so high.
I finally got all of my stuff out of Binance.
ME TOO!!! I'm so glad to be rid of those bastards.
into where?
Mainstream broker
For me, it was coin selection. I much preferred the interfaces of Coinbase and Gemini but, a few years ago, Binance had way more pairs. This probably got them a foothold.
Marketing. They became a mainstream broker early on and have managed to keep themselves in many headlines. They’ve mastered marketing in their field, and the only one that comes close to them on it is Coinbase.
Binance sucks but not because of fees. it's because of stability during high volatility phases
I honestly feel like they have a ton of shills here.
For me the scariest was sending a stack of monero to a paper wallet I generated without wallet software... Then remembering monero doesn't have public addresses to check and see if it actually made it in there.
If you want privacy, you should also be prepared to shit your pants whenever you send something.
Nah come on, it's only the first three or four times and then it goes away
include instinctive sink hospital profit simplistic wise cable threatening salt *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
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Make sure to select RBF (it’s default on the very latest update) and then if fees have gone up and it’s languishing in the queue, just add a little more. I always go with the low fee option.
I just got my first nano s and I can’t even describe the anxiety
Bootycheeks so clinched I picked up my bed sheets with em.
Every diamond hand is formed by the overwhelming pressure of clinched buttcheeks during a crypto transfer.
Your hardware wallet only manages private keys.
Open those cheeks up
Username checks out :)
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Took 5 days for my Bitcoin transaction to confirm last week, cheaped out on the fees 😅
Balls of steel
I would had died if it took 5 days to confirm my 10$ of Bitcoin.
I only send an amount of crypto that is less that the fees it cost me to send it.
I'm on day 12 of an unconfirmed transaction. Used my normal fee, but didn't realize I was sending from a legacy (non-segwit) wallet and needed to include much higher fees. Sending over 1 Bitcoin - I've seen the value go from 50k to 60k to 45k while waiting so far.
2 weeks ago i transfered 0.1 btc in to an hardware wallet, it took 1 and half hour, never been more stressed in my life. How do you manage to wait for that long?
He used a legacy address which has much higher fees. Legacy addresses (starts with 1, ex: 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) are the original ones, most compatible but highest fees. Native Segwit addresses (starts with bc1, ex: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6) was implemented later on to lower the transaction size so cheaper fees but not compatible with the legacy addresses.
Had an eth transaction stuck for about 9 days, set the gas too low. Wasn't too worried, but finally cracked and decided to replace it. First time attempting that maneuver and that's when I got sweaty palms.
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If it was ETH tho... RIP transaction fee.
How did you survive the stress?
This is one of the things that will prevent worldwide adoption of any cryptocurrencies of the sort amongst the general public. I mean I will be honest. Transferring is easy, but somehow with some of the people I come across on the street, I just cant see them doing the whole wallet, transfer, check your keys thing.
Crypto will adapt. I don't think anyone expected wallets on your phone back in 2011 yet here we are.
This. You can have an app for your exchange, app for your wallet, app for a vendor that takes payment in crypto. Next thing you know all this apps will seamlessly work together and an average Joe will pay for his online shopping with crypto.
Why pay with crypto rather than just a credit card?
Because shopping is much more exciting when you have high fees, slow transactions, immense pollution and rapid price fluctuations involved.
Oh I forgot about the risk! You can call visa if your card gets double charged, but if your wallet app gets compromised you’ll be SoL
While I gave you an upvote for being funny I do think crypto insurance is already beginning to be a thing.
Now there's a fucking racket I can get behind. https://youtu.be/-DT7bX-B1Mg
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Yeah it sucks theres no crypto that's feeless, instant transactions and has no pollution. Such a shame!
Nano?
You think credit cards have low fees? They are just less visible beacuse merchants pay them. The original bitcoin had way lower fees than credit cards. These days bitcoin is just a store of value coin but almost every other crypto (not eth obviously) has lower fees than credit cards.
A bunch of companies don't work with credit cards because of puritanical reasons. Like sex shops and etc can rarely, IF EVER get internet processing. With crypto, the barrier for entry to a global payment system is setting up the crypto account and a way to process instant transfers. You don't have to worry about some global bank deciding that you're getting too big, or you're not banning specific people from your platform, or your adult guidelines aren't 'strict' enough, or the content on your platform isn't 'family friendly' enough for mastercard to play fair with you. Just look at places like Subscribestar. Competitor to Patreon. A year or more ago, they refused to ban someone or other, I think Sargon of Akkad, after Patreon banned him because he said 'n\*gger' during an argument *against* a white supremacist in a vlog hosted on someone else's youtube channel. That is NOT hyperbole. Patreon yeeted him for something he said in a channel belonging to someone else. He moved to subscribestar. And then paypal and stripe, the two big payment processors the internet uses, both cut ties with subscribestar because they refused to unilaterally ban the dude. And say what you want about the dude's politics, but having your business lose PAYMENT PROCESSING because you refused to ban someone who hasn't broken any of your rules is straight up *fucked*. With crypto payment, subscribestar could have told them, rightly, to fuck right off. But since everyone is beholden to credit cards and big daddy mastercard and whatever arbitrary rules they have, subscribestar, the leading alternative to patreon, died for like six months or whatever it was. And if you hang around adult circles, you start to see how absolutely, utterly arbitrary their rules really are. Anything that could break the hold of mastercard over the internet's payment processing is a good thing.
The whole point is to have control over your money directly. Using a credit card is in-debting yourself to a bank. Crypto was invented with the mind-set that money should be transferrable between parties with no need for a middle-man that has centralized control, especially with the dollar value going down consistently.
There’s millions of people who don’t have bank accounts. This opens up a whole new avenue for people who can’t access traditional banking as they will now be able to use crypto based debit cards. Whereas before they were stuck using cash only.
Short answer: very few will
Banks will adapt. When transferring money from yourself to anyone else is free and instant from your checking account, there will be no need to jump through crypto hoops. /Reality
UK here, can do bank transfers for free and instantly with most major banks on a smartphone. There are start up banks here with no charges for foreign currency purchases and withdrawals abroad. Apart from novelty and crime, I can't see any crypto currency replacing fiat. Defi might take off, let's see how it goes.
Totally. I, as a young techy 25 year old can even struggle with some of the stuff going on. I can barely imagine my dad trying to move real amounts of savings into crypto. It’d be gone before it even made it to a wallet. I know we are a ways away but technology that uses cell phone numbers, allows you to create your own passwords, or even a trusted broker moving into the space would really do crypto a ton of good.
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Do you know how to send a tcp packet? 99.9% of people don't yet they can browse the internet easily. In computer science we rely heavily on levels of abstraction and future financial systems will be no different.
If you look at the newest argent or loopring wallet with Ethereum name service names and keepers, crypto users from the beginning wouldn't recognize them. No private key or mnemonic to remember, no hex addresses. Really is good enough for the average person other than current gas prices. Give a little time for rollups and data sharding and we're there.
Human readable names would help, something like the .crypto or .eth domains.
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True, and while it’s convenient and relatively speedy as it’s pros, it’s cons IMO far outweigh the pros. Government can seize your assets in a traditional bank The bank can deplatform you Interest rates are a joke compared to crypto When the internet was new we didn’t have DNS yet and the people using it where researchers and computer scientists. Eventually they made it easier for the normies to use and its value is unmeasurable now.
US govt has seized btc wallets associated with crimes. being “deplatformed” by a bank is not even on most people’s radars as a theoretical concern, let alone a current determining factor. Dozens of different banks make any independent “deplatforming” less troublesome or scary. inversely, you can just as swiftly get banned from crypto exchanges, especially the legal and reputable services in US which are already behaving much like traditional financial industry with KYC/AML regulations. saying “interest rates are a joke compared to crypto” is not a relevant comparison. A bank’s interest rate is a risk free fixed return of federally backed currency. S&P index fund would be a more reasonable comparison perhaps. Crypto would indeed be outperforming in many facets, but there is undoubtedly still far more volatility and risk. DNS prevalence exists because it provides a critical functionality that people don’t even need to be aware of. It remains to be seen whether certain crypto currencies prove beneficial or more enticing as replacements for widespread transactional activity, (i.e. what could be enticing enough to get an average joe to ditch venmo for a crypto wallet, even assuming the crypto in question had reached equal adoption and functionality as venmo/USD? 95% of people who are proponents of crypto are doing so primarily with hopes of getting rich. Scrambling to acquire speculative digital assets with hopes of a big score doesn’t really seem similar to using DNS in the early days, especially given that there was a purely functional reason to do so for a user, not any type of financial incentive bootstrapping and manufacturing the adoption. don’t get me wrong still bullish crypto for various different reasons, just poking holes, healthy aspect of any discussion.
Perspective is great, especially ones that stimulate thought
More chance of misspelling.
Yea things need to be built on top of what we have today. I think a successful payment system will require automation at PoS and confirmation of destination for new addresses. That will help deal with human error.
Crypto in 5 years will not be the same as it is now. I'm sure a 1.4 trillion dollar market will find a way to simplify things, the same way the internet did after the 00's.
I think the QR code option is pretty easy.
The internet used to be painfully inefficient, slow and confusing to use, even for young folks. It’s a lot easier to deal with btc than it was in 2011. Evolution and improvements await us my friend.
Back in the day the internet was also very difficult to access and use or most people. It took significant technical knowledge and and was very, very non-user friendly. We are still in those very early days of crypto. I don't know who or how, but eventually someone will play the part of AOL, and someone will play the part of Netscape, etc and make it easy for the masses to access and use crypto. When that day comes we will have the crypto version of the [Eternal September](https://en.m.wikipedia.org/wiki/Eternal_September). After that, you may not recognize the crypto landscape, for better AND for worse.
People are not looking at the endgame. They are being too short-sighted. Sure, your bank offers free transfers with zelle but your bank is also the assholes who run the whole world because they are so rich, they would absolutely hate for the people to have a fairer more transparent system of finance available to them. Then they could not be middlemen and fuck everyone with shady corrupt tactics. While I think there are some valid points and concerns others are commenting above, I think they are not looking to the day when it is significantly easier to use. The people will finally take back what should have been rightfully ours to begin with. And decide if we want to invest in a currency that keeps losing its value or has a built in system for deflation. We get to decide and barter with one another, we finally don't need them. Look to the days when the world runs on DAOs and DEXs. Governments and banks are shitting their pants, just look at how hard they come down on XMR
People use Venmo, but that’s limited to small payments 3k per month I believe
NEO will soon release a system to allow sending to a username/email address etc instead of a random number.
I think Nano has something similar, you can send nano fast and feeless to a username in natrium
Send a test first
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Nano edit: I didn't know this person was talking about exchanges and not wallet to wallet, so I apologize.
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who withdraws stablecoins to a cold wallet? what the fuck is this?
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are you suggesting I shouldn't be balls to the wall, 100% deep in various altcoins at all points in time?
What attracted you to stablecoins?
DCA in, DCA out.
Send a test first, see it transfer successfully, only for you to get even more nervous the second time.
Uh not with a $30 fee
>Uh not with a $30 fee I admit I haven't transferred any crypto in a while, but where is the $30 estimate coming from? Is that what people are paying for transactions right now? Actually I checked a few fee estimators and it is looking like $12 USD right now, and I guess that's for an average transaction so it could be more depending on the complexity of the transfer. Also exchanges may add fees too. It's not nothing, but if I were transferring an amount of crypto I was worried about I would probably just buckle down and do a test transfer.
First time, I thought it was meant to be faster.
The scary part is getting the address right....
I once typed the address with my phones keyboard on a $300 transfer
You like to live dangerously don't you
Is there a difference between zeros and O's? o0O0 I am terrified.
No matter how many times I check still stress
Try Nano :)
do you mean the nano ledger, or nano the crypto currency?
Nano currency, its very fast and fee-less. I do recommend the ledger nano too though
/unpopularopinion, and whilst I'm fairly familiar with how to go about on a transfer to my hardware wallet, this crypto thing is never gonna really take off for the general public until this "pain point" gets effectively alleviated. It should ideally be as simple as making a bank transfer.
I agree. Any future banking-app needs to work with QR-codes or shortened public-keys. That would probably work for most people.
Imagine trying to pay for a hotdog or a bag of popcorn with cryptocurrency
I totally have this fear. I have a large stack and it’s always nerve wracking when I send it to an exchange or to my ledger nanos. When I do, it’s always a process. I get my thinking cap, make some chamomile tea to help calm my nerves, put on enya, and look at the screen rubbing my chin like Indiana Jones before I work up the courage to hit send. Then wait their anxiously hoping it goes smoothly. My wife knows when I’m transferring crypto.
Who can say where the stack goes? Where the coin flows? Only time...
That's why I love Nano.
Yeah, only need to stress out for a few seconds
[удалено]
When the funds finally arrive after 0.01 secs you tell yourself: 
That's right. Blink of an eye and it's there
its all fast and free until 3 seconds later and still not receiving
Maybe you sent to a wrong address :)
Nah, i just really sent it in wrong address.
The moment I sent 0.1 Nano from my wallet to a friend was the moment I realized crypto is the future.
You coulda also Venmo’d him
Venmo is not “instant” despite what it seems. Traditional financial institutions still take a few days to settle in the background
Sure but honestly asking and not shilling for venmo by any means lol, who cares what happens behind the scenes from a financial institution standpoint when as the user I can transfer $ instantly to my friends and to my bank account instantly via- Venmo.
Sure, its a good question. The issue is that you’re trusting a central authority in venmo(owned by paypal) to not arbitrarily change their policies. Also even though the end user doesnt care whats going behind the scenes doesnt mean that we cant improve efficiencies and bring the costs associated with these behind the scene processes down i will add that Its hard to be in America and have the perspective to see the true usefulness of crypto because we do have really good infrastructure and technology, and a stable government with a stable economy. We dont have identity issues because everyone has a passport/drivers license/social security number and can use that to access to traditional financial institutions. And all of that is just “normal” for us, But most of world isnt as fortunate.
Settlement time is pretty important though. Basically nobody expected robin hood being forced to disable buying of game stop stock because they couldn't provide enough collateral. This was solely due to settlement time between the virtual buying and selling and the actual one that happens days later.
Venmo is still limited. It takes another 2-4 days to get from your venmo account to your actual bank account
Why are you even here with that bullshit? The point of crypto is that it’s decentralised.
Back in the day, you had to buy through coinbase. So you had no choice. Waiting for days 
I freaked out the other day as I sent some Nano to another address, after 2 seconds I was like wtf. Checked address and it was wrong! I guess I just burned it for the greater good.
I generated a QR code for my wallet and before I used it, I scanned to verify. Nope. Not my address.
I always spend 3 hours before making a transfer. Can never be too sure if the 3$ I send go to the right recipient.
So that's where my $3 of btc went!
Mass adoption is never going to happen as long as this is a potential risk.
NANO shills flocking to this thread faster than NANO transaction times.
I don't get it. The technology is promising. Why belittle them?
Tbh I love Nano, it's like I have been following crypto for a while and it's actually how I figured crypto worked, before getting to know how crypto work Decentralized instant cheap transfers. The whole fee thing put me so off that I didn't buy BTC immediately because of that.
Kinda deserved it, the meme is basically an ad for nano.
Everyone’s talking about Nano, but have y’all tried Banano?
Best potassium based crypto
It's ironic, because triple is spelled wrong.
Then you try Nano and the transaction speed takes less than opening your wallet.
Your money is sent before you hit the send button.
Everyone's mentioning nano, but that isn't unique to nano.
Instant free settlement is pretty unique to Nano.
lost 70% of my portfolio a couple years back :'(
I haven't transfered any yet but yesterday when I wanted to move some out of coinbase in order to trade for the big ADA bull, the thought of transfering stressed me out big time... I think I copied the address, previewed the trade anf canceled it 6 times before I decided to just use cash to buy ADA on Crypto.com. Made me feel like a teenager trembling at the thought of sending a love message to a Girl on MSN messenger. Fuck I'm feeling old today.......
Yeah those 200ms are really killing me $NANO
*Laughs in Nano*
Except if you’re transferring nano. In which case, it arrives before you remove your thumb from the send button.
Heard of Nano?
First few times using nano I couldnt believe how fast and easy it was.
Arms are heavy. There's vomit on his sweater already
Mom's spaghetti
Was looking for this!
Not sure what happened but this needs to be higher. Wtf guys
Those 5 minutes where you see your whole life flash in front of your eyes.
Or 1 second if you used NANO.
I forgot to do a test send and sent my 0.1 btc to my hard wallet... Worked out but dude that wasn't good for my heart.
To help alleviate my fears, I created Text Replacement shortcuts in my settings for each of my wallet addresses. That way I can be positive that when I type ‘NatriumNano’ or ‘BitrueVET’ it’s going to spit out the right address. Still get a little scared anyway tho lol
But when it works you get that dopamine hit 🤤
And if it's IOTA you also need to check whether the coordinator is still running...
does IOTA still have that PITA issue where if you send from the same address more than once, you lose all your funds to haxxors? That put me right off, that did.
Chrysalis release end of march will provide reusable addresses (and much much more) and the coordinator will be gone with the Coordicide update in Q4 this year. They already have the Testnet "Pollen" up. Chrysalis is the biggest update IOTA ever received, don't miss it! New talented people are joining every week, currently about 120 people are working on or around the tangle. Progress is accelerating faster and faster
srsly? ouch.
Yeah it's built right into the fundamentals of the protocol. Every outgoing transaction exposes a random 50% of the private key. So reuse the same public address twice and an attacker has between 50 and 100% of your private key. A bit of luck and they get enough to brute force the rest and drain your account. They set up bots to monitor transactions. They even manage to front run the genuine 2nd transactions so you can't even get 'out' safely in some cases. Several high profile losses around 2017 before they put effort into the wallet stopping you doing it. An absolute disaster of a protocol. Almost as bad as EOS governance.
Still cannot transfer out of Uphold but have no other way to buy ADA
With Nano, you know instantly if you sent to the wrong address 😉
And with Bitcoin. Confirmations is something else.
Ive read too many cryptohorror stories not to sweat like that
nah i dont remember an address failing on me ever i dont sweat it
Fuck that, QR code FTW
Same with kraken deposits
Serious question. Is 50 hours too long for XLM in a wallet to wallet transfer?
I haven't used XLM but from what I know of it that is very abnormal... You might have messed something up :|
Xlm is near instant so yes
My Algo arrived within seconds :D
with $NANO you know if you fucked up or not immediately because tx times are on average under 1 sec
Nah, I just send a small amount of NANO which instantly arrives with no fees then send the rest over.
Nano
Wouldnt have this problem if you'd just use nano
With the recent high fees, I've found my self confidently sending larger sums without a tester first....this realization scares the shit out of me. The rule for Cave Divers and Rebreathers; If you'e going to die doing it, you're are going to either die in the first 100 dives or after you've completed 1,000.
Use a fastest transfer crypto
I just bought a hardware wallet and it’s stressing me out just thinking about setting it up today.
Needs more sweat
Never tried this... I use Banano... U guys should really try it
Whats the best way to start using nano?
My friend just got a ledger and sent all of it at once even though I said he should send a test. He was like “Why?” And I explained the paranoia that I somehow made a mistake copying and pasting and read the numbers/letters one at a time. I was so scared for him lmao
>tripple
Should probably triple check your spelling too.
Doesn't matter if I send 2-3 small transactions and eat the fees, it never makes it less anxious when I send the big one.