Bitcoin
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@lakshmana said in Bitcoin:
Changing Bitcoin into US dollars is illegal?
It's perfectly legal. Bitcoins just tend to be used for illegal purposes. They are primarily for people hiding their identities.
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Why the people hiding the identities for using Bitcoin?
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@lakshmana said in Bitcoin:
Why the people hiding the identities for using Bitcoin?
Because of illegal activities.
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Whether the Bitcoin value is higher than US Dollar?
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@lakshmana said in Bitcoin:
Why the people hiding the identities for using Bitcoin?
The only reason this ransomware stuff is a conceivable idea is because of bitcoin. If everyone had to send money to someone's bank account, it wouldn't work out lol. Instead, the criminals can hide behind their bitcoin wallet a lot easier.
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If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
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@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Each wallet has a universally unique ID. So a person can create a billion wallets, all with their own unique ID. But still controlled by a single person.
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Investing money in Bitcoin is good for individuals or risk in life?
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@lakshmana said in Bitcoin:
Investing money in Bitcoin is good for individuals or risk in life?
That's just a general Forex question. Two basic rules:
- ALL investing is a risk. It is the risk that makes profits possible.
- FOREX investing is fast risk.
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@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
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@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
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@lakshmana said in Bitcoin:
Whether the Bitcoin value is higher than US Dollar?
There is a conversion rate like all currency
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@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
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@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
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@dustinb3403 said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
That backup responsibility lies in individuals or in company who owns wallet?
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@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
It's too risk with Money.
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@lakshmana said in Bitcoin:
@dustinb3403 said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
That backup responsibility lies in individuals or in company who owns wallet?
All wallets are controlled by an individual (unless there was some business mining organization)
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@dustinb3403 said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
No, the issue that they've warned about now cannot be solved with a backup, at all. The money just vanishes. Lots of retails will not accept bitcoins from certain dates because of it, it can vanish even after you spend it.
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@scottalanmiller said in Bitcoin:
@dustinb3403 said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
@scottalanmiller said in Bitcoin:
@lakshmana said in Bitcoin:
If new one is opening wallet legally how safe wallet will be?How can individuals trust in the wallet portal?
Not very safe. Bitcoin has announced that wallets made around this time might just vanish without warning, all money being lost.
If the wallet is vanishing then money also vanishes Right?
Yes
Unless you have a backup of the wallet, which you should be doing. (since it is an important item in ones life)
I remember a few years ago a bitcoin mining company lost their wallet with millions, and didn't have a backup. . . FOOLS!
No, the issue that they've warned about now cannot be solved with a backup, at all. The money just vanishes. Lots of retails will not accept bitcoins from certain dates because of it, it can vanish even after you spend it.
Oh that's a nice bug then.
Sounds like the chain isn't keeping account of the wallets and transfers then.
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There is still the risk of replay attacks with Segwit2x ahead this year. I would mix your coins with a miner from the segwit side before sending to a segwit address to avoid replay. The UAHF side is still requiring this "OP_RETURN" bullshit or risk losing your btc.
The end result is that bitcoin's mining block size will grow, and likely will continue to grow over the next couple years. This alleviates a backlog issue but also makes BTC less decentralized.
