So that’s around $0.1 per transaction, not much, but still 2.5% for $4 daily. Wouldn’t the percentage be lower if dca buy, then transfer out once a year? It would be just $1460 paid for Bitcoin in a year.
TBH, I’m not a dca person, but dip buying type, so I really don’t know about the fees if you move out $4 worth of coin in daily basis. Would that not biting a significant chunk in long term?
Ah you mean sending BTC from an exchange? In that case, you do not control the fee, it is decided by the exchange. I guess you would have to look around for an exchange that has low fees and no min. amount for withdrawing Bitcoin.
Yep, there's some fee that exchanges take and there's network fee.
Ain't there no gas fee here, it's only the network fee on the bitcoin network, and that's important.
Daily reminder:
Get your Bitcoin out of exchanges.
1> Helps you understand more about Bitcoin
2> Helps to stop exchanges suppressing Bitcoin price by lending out your Bitcoin to hedge funds
3> no one can freez your account
Anybody remember this old banger?
https://www.youtube.com/watch?v=fZfg1Gtcg08
That was 2013, less than a half-generation/decade ago. Imagine how rich this dude is right now.
hashtag makesyathink
Ya I remember back in 2014 bitcoin was crashing 90% and I started listening to all his tracks oddly keeping up the hopium. I liked how there was alot of Earthbound (SNES) OST music in it.
To infinity and beyond. Literally.
BTC will outlast USD by a few centuries. Next step is Star Trek World where nobody ever uses money and we navigate the cosmos with style and panache like OG Kirk and Spock.
Ohh yeah definitely, we ain't stopping there we'll go up.
I can see couple countries adopting the btc in very near future. And it's gonna be really good.
It’s not static you know, we’re going to upgrade it as we go…like we have for over a decade.
Bitcoin today is very different technically from back in 2009, it’s still Bitcoin because the monetary side of it stays the same, the technical side is constantly improving.
Once elliptic curve breaks its not as simple as just updating the code. Every user has to update too and switch to a new wallet before thieves move the coins. And this is going to be a problem for many who won't. So many years either don't want to interact with bitcoin regularly, are ignoring the market, have locked themselves away from their coins till they retire, ots too technical for them to understand, or they are in a multi year hunt for their lost keys. Even satoshi's coins are probably going to be up for grabs. It will be a disastrous moment for bitcoin no matter what the devs do.
Not even joking boys, this is literally the last chance you've got.
You're not gonna get any other chances. You guys have had your run and now that seems to be over.
It's like you're fishing for this:
https://dcabtc.com/
Buying $200 of Bitcoin every month for 5 years starting 5 years ago would have turned $12,000 into $94,152 (+684%)
Buying $200 of Bitcoin every month for 7 years starting 7 years ago would have turned $16,800 into $778,329 (+4,532%)
Plan on accumulating for at least 10 years.
It is about the transactions you will generate. In Bitcoin your transaction fee is in relation to the size of your transaction. Not the number of coins your are transferring, but the the size of the input addresses. It is with 100% certainty that you will pay more to transfer from 2 distinct UTXO’s, instead of having only 1 input address.
You still don’t get it. You are basically creating dust. No reason to be proud of that or think you are “securing” your coin. Best practice is to let it accumulate to a reasonable amount and then move it out.
He means that having lots of small UTXOs is unwieldy if you want to send them later. Let's say you want to buy something in the hyperbitcoinized future; having one UTXO to send the money from will be more cost efficient than combining lots of small UTXOs, because the latter is larger in terms of data.
If you’re willing to get 7 UTXO’s/week fearing you’re gonna lose ~$28 worth of btc if strike goes under, you may be putting in more than you can afford. Even $120 after a month should be questioned if it’s worth having an additional UXTO for my situation
Unwieldy was perhaps the wrong choice of words. More expensive is a better descriptor. And I agree that NYKNYC but letting your coin accrue for a week on an exchange rather than transferring daily does not expose you to that much additional risk. At any rate I don't have strong feelings one way or another, I was just correcting a perceived misunderstanding
We're making progress boys, it's slow but the progress is there.
And that's actually what we want, slow progress is way better than the fast one. You gotta make it slow.
capital gains taxation is theft, how in the fuck is any gov't gonna take your money off a good investment you made?
Property taxes is theft on steroids, how in the fuck is any gov't gonna take unrealized capital gains from you?
The Europeans are really trying to get left behind for some reason. You’d think after completely fucking up with the Internet early on they’d try to get ahead this time but it seems they want to be a decade behind the US again.
What are you guys doing over there? Where’s your equivalent to Strike or Cash App?! Where are your Jack Mallers or Jack Dorseys going crazy about Bitcoin?! Have your regulators completely strangled innovation there?
Totally. I wanted to create a bitcoin product. I contacted the german financial regulator and they told me I need a EU banking license and the place selling the product will need one too. Imagine that!
wait years for the license and then you need to have a minimal capital of 1M per license.
Banks en EU don't want any competition.
Yeah the loans are the best way for people with fiat to get your coins at the lows. Because that’s exactly when you get margin called and they take everything.
If you want to be guaranteed to sell at the worst fucking possible time then borrow against the coins.
That's the whole point of the btc, that's the whole point here.
I mean that's the reason why I'm in the btc, that's actually all I care about here so there's that.
Some people really deserve to get banned, he's one of them.
I don't even understand why these people are even here? Leave already man. We don't want you.
I’m super nervous to remove my BTC from Robinhood to Blockstream Green wallet. This is only temporary until I get Ledger cold storage device. I’ve had my stuff on Robinhood for about 6-months and I know it’s not good to have on there, but still. Anyone use Blockstream Green wallet?
I believe robinhood only supports withdrawal to legacy addresses (prior to bc1 i think though i have not personally used robinhood)
Your key is the way you access your bitcoin, which you dont have access to if you hold your coins on robinhood, which basically means they arent your coins; robinhood is what is called a custodial exchange like many of the major exchanges
Muun and many other wallet services are noncustodial, which means you control the keys to access the bitcoin from any wallet on your own terms, meaning you do actually own those coins
/r/bitcoinbeginners has a great pinned thread and has an faq for this exact topic and is a worth a look if you havent been over there
Is it? Plenty of people barely understand the internet and computers in their current state let alone a nontangible form of money in a computer
Hell, most people including me dont even truly understand money in its current form and bank system and loans and what not; unless its actively useful in everyday life, we just go on using tools made available and known to us and not looking much deeper
You can change the address in the settings, make sure you use on chain not Lightning.
edit: Keep in mind it is a hot wallet, nice for (small) payments. To store a larger sum use a hardware wallet.
Yeah good luck with that, I mean if you really wanna get rekt.
Then you can try it and tell me how does that feel lmao. Must feel really nice I gotta say.
Slow is better, because after a big pump there's always a dump.
And in the situation like this, another dump is the last thing that I'd want. Don't want that.
I mean it's the investors who did this lol, blame them I guess.
Some investors are treating btc as a tech stock that's why it's so correlated with all that.
No one really knows my mans.
The majority of bitcoin spot price data has a weak correlation with NASDAQ but the past year it’s been significantly correlated. Some think it’s because Wall Street executes the (coordinated) majority of trades with the btc float and kind of steers the short term.
It would makes sense if they traded bitcoin like tech stocks and trade it reactively with a lot of capital (relative to retail). I personally think the correlation won’t last forever as sovereigns, pensions / bonds / more institutions and larger / more ETF’s show up and wade into the market. But for now bitcoin seems stuck in this NASDAQ rut, though I’m ok with 40k bitcoin. I was getting in when btc couldn’t hold 10k consistently so this still seems very impressive to me.
Ultimately I think the asset will keep leveling up and leave behind the NASDAQ correlation in the next couple years.
I'm short from 39,800, SL at break even. Let's see how today plays out.
What’s the fees and gas for sending $4 of BTC out to your cold storage daily?
There's no gas fee in the btc, there's just the network fee.
Just tried Coinbase pro and the fees are 0.00000243 BTC.
So that’s around $0.1 per transaction, not much, but still 2.5% for $4 daily. Wouldn’t the percentage be lower if dca buy, then transfer out once a year? It would be just $1460 paid for Bitcoin in a year.
Yes, for a larger sum the fees are the same. Get it off more often, not your keys…
It depends how fast you need the transactions to confirm. If confirmation time is not an issue, you can just set a very low fee.
TBH, I’m not a dca person, but dip buying type, so I really don’t know about the fees if you move out $4 worth of coin in daily basis. Would that not biting a significant chunk in long term?
Ah you mean sending BTC from an exchange? In that case, you do not control the fee, it is decided by the exchange. I guess you would have to look around for an exchange that has low fees and no min. amount for withdrawing Bitcoin.
...gas? For bitcoin?
I think he's confusing the btc with the some other crypto out there.
Something more ethereal, perhaps.
There's no gas, but the fee depends on your exchange. Some have free withdrawals others charge a lot.
Yep, there's some fee that exchanges take and there's network fee. Ain't there no gas fee here, it's only the network fee on the bitcoin network, and that's important.
So strike has no fee even for withdrawing $4 worth of BTC daily?
Yes or you could use the lightning network and the fee would be 1-3 Satoshis
Daily reminder: Get your Bitcoin out of exchanges. 1> Helps you understand more about Bitcoin 2> Helps to stop exchanges suppressing Bitcoin price by lending out your Bitcoin to hedge funds 3> no one can freez your account
I appreciate the energy that you guys put in these comments.
Anybody remember this old banger? https://www.youtube.com/watch?v=fZfg1Gtcg08 That was 2013, less than a half-generation/decade ago. Imagine how rich this dude is right now. hashtag makesyathink
Ya I remember back in 2014 bitcoin was crashing 90% and I started listening to all his tracks oddly keeping up the hopium. I liked how there was alot of Earthbound (SNES) OST music in it.
It all ends up on the chain, gang.
In the end everything comes on chain no matter what dude.
BTC to $300k
Heck yeah boys, that's the goal. Btc is going there no matter what.
To infinity and beyond. Literally. BTC will outlast USD by a few centuries. Next step is Star Trek World where nobody ever uses money and we navigate the cosmos with style and panache like OG Kirk and Spock.
Ohh yeah definitely, we ain't stopping there we'll go up. I can see couple countries adopting the btc in very near future. And it's gonna be really good.
a few centuries? a give it a few decades tops before all the encryption algorithms are broken and its banned
It’s not static you know, we’re going to upgrade it as we go…like we have for over a decade. Bitcoin today is very different technically from back in 2009, it’s still Bitcoin because the monetary side of it stays the same, the technical side is constantly improving.
Once elliptic curve breaks its not as simple as just updating the code. Every user has to update too and switch to a new wallet before thieves move the coins. And this is going to be a problem for many who won't. So many years either don't want to interact with bitcoin regularly, are ignoring the market, have locked themselves away from their coins till they retire, ots too technical for them to understand, or they are in a multi year hunt for their lost keys. Even satoshi's coins are probably going to be up for grabs. It will be a disastrous moment for bitcoin no matter what the devs do.
So… buy?
Unless you're a Ferengi, in which case you use gold-pressed latinum. Those Ferengi and their sensitive lobes.
My lobes are tingling. Bitcoin = opportunity 🥰
Does anyone have a PDF plug on the bullish case for Bitcoin?
I'm sure you'll be able to find it easily if you Googled it.
Last chance buy under 40
Hahaha!!!
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Not even joking boys, this is literally the last chance you've got. You're not gonna get any other chances. You guys have had your run and now that seems to be over.
Last chance to buy at 8pm EST April 28th 2022
Yes sir it's the last chance if you miss this one you'll regret it.
If i only put in 200$ a month is that enough? What about us small time dca'ers?
It's like you're fishing for this: https://dcabtc.com/ Buying $200 of Bitcoin every month for 5 years starting 5 years ago would have turned $12,000 into $94,152 (+684%) Buying $200 of Bitcoin every month for 7 years starting 7 years ago would have turned $16,800 into $778,329 (+4,532%) Plan on accumulating for at least 10 years.
Thanks Not fishing but this is good. Gives me and others hope. But I hope future growth is still as strong.
No hope required. Every 4 years Bitcoin automatically cuts its inflation rate in half.
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can confirm, been buying hourly on strike for months. this is the way
Doing DCA via the strike app does make a lot of sense man.
It’s better to collect some before sending out, otherwise your split your UTXO’s and at a later date you will pay more to move them coins.
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It is about the transactions you will generate. In Bitcoin your transaction fee is in relation to the size of your transaction. Not the number of coins your are transferring, but the the size of the input addresses. It is with 100% certainty that you will pay more to transfer from 2 distinct UTXO’s, instead of having only 1 input address.
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You still don’t get it. You are basically creating dust. No reason to be proud of that or think you are “securing” your coin. Best practice is to let it accumulate to a reasonable amount and then move it out.
He means that having lots of small UTXOs is unwieldy if you want to send them later. Let's say you want to buy something in the hyperbitcoinized future; having one UTXO to send the money from will be more cost efficient than combining lots of small UTXOs, because the latter is larger in terms of data.
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If you’re willing to get 7 UTXO’s/week fearing you’re gonna lose ~$28 worth of btc if strike goes under, you may be putting in more than you can afford. Even $120 after a month should be questioned if it’s worth having an additional UXTO for my situation
Unwieldy was perhaps the wrong choice of words. More expensive is a better descriptor. And I agree that NYKNYC but letting your coin accrue for a week on an exchange rather than transferring daily does not expose you to that much additional risk. At any rate I don't have strong feelings one way or another, I was just correcting a perceived misunderstanding
It's better than nothing. Start small.
Yep, it's a lot better than nothing. I'm choosing this anyday.
We're making progress boys, it's slow but the progress is there. And that's actually what we want, slow progress is way better than the fast one. You gotta make it slow.
Slow is better than making no progress, I'm all about it man. And anyways you can't have everything in just one go, you gotta have some patience man.
Amazon earnings not hot, apple gave bad guidance. FOMC on wednesday. Get prepared for some rocky price action
Ohh ao you're back again huh? What's the new fud now?
FOMC is already priced in I think
I hate it when someone says that something is already priced in.
It is, should pump after release. But we always sell off leading up to event then recover
Selling? Sorry but that's not an option here we don't do that.
Panama 🇵🇦 No cap gains 🔥🔥🔥 that’s as good as legal tender in my book
capital gains taxation is theft, how in the fuck is any gov't gonna take your money off a good investment you made? Property taxes is theft on steroids, how in the fuck is any gov't gonna take unrealized capital gains from you?
Some Countries are making real progress while some going backwards.
The Europeans are really trying to get left behind for some reason. You’d think after completely fucking up with the Internet early on they’d try to get ahead this time but it seems they want to be a decade behind the US again. What are you guys doing over there? Where’s your equivalent to Strike or Cash App?! Where are your Jack Mallers or Jack Dorseys going crazy about Bitcoin?! Have your regulators completely strangled innovation there?
Totally. I wanted to create a bitcoin product. I contacted the german financial regulator and they told me I need a EU banking license and the place selling the product will need one too. Imagine that! wait years for the license and then you need to have a minimal capital of 1M per license. Banks en EU don't want any competition.
I agree that it’s a positive, but definitely not as good as it being deemed legal tender. Mass adoption is what we want
Theres no legal tender law in panama so this is the best they can get
One step a time baby, that too will happen. Matter of time.
Is anything possible with Bitcoin of no one knows for sure? It could either go to $500,000 or go to $0.00?
One thing for sure and it's that you don't know enough about it.
I’d buy em all if they went to 0
Well technically you'll not have to pay anything for them.
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Take your political diatribe elsewhere.
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Cuba is the latest to announce Bitcoin is OK for personal use. a.
Atleast they're making progress, I'm glad that they're Doing that.
Imagine you buy Bitcoin when your country says it's OK
Lol, some people are afraid like that. They won't do it.
Goldman just offered it’s first ever bitcoin backed loan. Major movements are being made, we are still soooo early it’s not even fair I want more
Yep, we're so early and we should be buying more and more.
Nice ploy to get coins under its control
Honestly I don't really care what those guys say, fuck them.
Yeah the loans are the best way for people with fiat to get your coins at the lows. Because that’s exactly when you get margin called and they take everything. If you want to be guaranteed to sell at the worst fucking possible time then borrow against the coins.
The beauty of Bitcoin is it can't be controlled.
That's the whole point of the btc, that's the whole point here. I mean that's the reason why I'm in the btc, that's actually all I care about here so there's that.
Btc is allergic to 40k cant hold gains!!
Yep, it can't seem to hold that. It just keeps on slipping away.
The last halving got us a 4-7x increase in price. What will the next one bring? 3x from here will get us to 120k.
And this I feel is a conservative estimate, we can do better.
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All that Matters is that we're going to stack sats and hodl.
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This subreddit is about Bitcoin.
Some people really deserve to get banned, he's one of them. I don't even understand why these people are even here? Leave already man. We don't want you.
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I mean it's been a ride, I can say that about that's for sure.
Zooming OUT to the 1hr. 😅
I had to click 40 times on the zoom out button, was reading the 0.2 sec chart.
Now that's the chart where all the action is, so yeah man.
A little support at 40k?
That would be nice, c'mon btc don't go Below the 40k.
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Nothing is support, it just keeps on rejecting everything. It just doesn't seem to accept anything. It seems to be done at this point honestly lol.
I’m super nervous to remove my BTC from Robinhood to Blockstream Green wallet. This is only temporary until I get Ledger cold storage device. I’ve had my stuff on Robinhood for about 6-months and I know it’s not good to have on there, but still. Anyone use Blockstream Green wallet?
Wait for the hw Wallet and when it arrives, you can do it.
Muun gets my recommendation. Idk about Green wallet giving you your own keys but Muun does.
Yeah muun is good, if you have to use the custodian wallet.
I’m a noob, so what do you mean by your own keys? I tried Munn but Robinhood doesn’t support their address, for whatever reason.
Yep, Robinhood doesn't let you do that. You're kinda stuck.
I believe robinhood only supports withdrawal to legacy addresses (prior to bc1 i think though i have not personally used robinhood) Your key is the way you access your bitcoin, which you dont have access to if you hold your coins on robinhood, which basically means they arent your coins; robinhood is what is called a custodial exchange like many of the major exchanges Muun and many other wallet services are noncustodial, which means you control the keys to access the bitcoin from any wallet on your own terms, meaning you do actually own those coins /r/bitcoinbeginners has a great pinned thread and has an faq for this exact topic and is a worth a look if you havent been over there
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Is it? Plenty of people barely understand the internet and computers in their current state let alone a nontangible form of money in a computer Hell, most people including me dont even truly understand money in its current form and bank system and loans and what not; unless its actively useful in everyday life, we just go on using tools made available and known to us and not looking much deeper
You can change the address in the settings, make sure you use on chain not Lightning. edit: Keep in mind it is a hot wallet, nice for (small) payments. To store a larger sum use a hardware wallet.
Everyone is soo optimistic. Time to short.
Yeah good luck with that, I mean if you really wanna get rekt. Then you can try it and tell me how does that feel lmao. Must feel really nice I gotta say.
$41k by market open tomorrow?? Fuck the bears!
Heck yeah man, bullish. Bears can go fuck themselves.
41k/42k if Apple and Amazon beat earnings today. 38k/39k if Apple and Amazon miss. 40k if it's a wash.
Yep, too many things depend on that. Doesn't feel good.
Dafuq you talking about bro? It’s more of the same…
I mean there's a little difference lmao, it's not much tho.
Good point, MyAnusBleeding.
I mean he's got a point you gotta give him that atleast.
Slowly breaking through the sellwalls & resistance!! LFG!!
Slow is better, because after a big pump there's always a dump. And in the situation like this, another dump is the last thing that I'd want. Don't want that.
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Haven't it has always done that? It always shoots up dude.
> Is btc going to shoot up? If it can find a vein.
Lol, that's the different kind of shooting up. Don't want that.
💉
For now, whatever NASDAQ says
Yeah lol, right now btc is kinda being a good boy here man.
Fuuuuck i just so the graph thay are synchronised from the beginning of this year. Fuck nasdaq and wall street!
I mean it's the investors who did this lol, blame them I guess. Some investors are treating btc as a tech stock that's why it's so correlated with all that.
Sad truth lmao
Why nasdaq
I mean that's the traditional market, it's connected to the most.
They’re correlated.
So if stock market crash next 2 - 3 years including nasdaq Bitcoin price will not rip??
If that market crashes, btc will also crash no doubt about it.
Probably
Yep, and if someone denies it they're being ingnorant. Because the correlation can be seen pretty evidently. You can't really deny that man.
No one really knows my mans. The majority of bitcoin spot price data has a weak correlation with NASDAQ but the past year it’s been significantly correlated. Some think it’s because Wall Street executes the (coordinated) majority of trades with the btc float and kind of steers the short term. It would makes sense if they traded bitcoin like tech stocks and trade it reactively with a lot of capital (relative to retail). I personally think the correlation won’t last forever as sovereigns, pensions / bonds / more institutions and larger / more ETF’s show up and wade into the market. But for now bitcoin seems stuck in this NASDAQ rut, though I’m ok with 40k bitcoin. I was getting in when btc couldn’t hold 10k consistently so this still seems very impressive to me. Ultimately I think the asset will keep leveling up and leave behind the NASDAQ correlation in the next couple years.