Bitcoin-Explain to me how to buy these things (2 Viewers)

[ren hoek]

I posted this in the other thread some time ago but I think it bears repeating here:

https://medium.com/@JesseLivermore/dear-crypto-youre-being-played-by-wall-street-35a1117ef859

 

[fantasycurse42]

I'm not sure what sound investor means. I think here you're using it to mean risk averse, which is a reasonable use I suppose. So you don't have the appetite for this level of variance. Fine. You sure made its eventual demise seem like a slam dunk just a few posts ago, though, so there's clearly a disconnect here. 1% of your net worth short crypto seems reasonable, not unlike having a small portion of your net worth in a PE investment which could hit big, but is likely to go to 0 ultimately.

(Mostly) not trying to be a #### here. I think we generally agree about stuff on this board. I guess I just don't understand how you can be so sure about something, yet not want to get involved financially at all. Variance happens, but you can't get rich as #### without embracing variance at some point.

I'm certainly not risk averse, I make trades in very volatile markets. Over the last year I've made trades in soybean futures, lean hog futures, natural gas, oil, currency, & gold - these markets are all very volatile. 

For me, sound investing would be allocating no more than 1-2% of your portfolio towards something like Bitcoin, and with the emotional responses I receive when discussing it with people, those invested seem to have a lot more at stake than that, which to me is idiotic and insane. At no point would I ever have more than 5-7% of my total assets invested in what I deem risky (and it would be spread around, certainly not on one thing like a coin)... For me a risky asset would be something like a biotech in stage 2 approvals or a very volatile company ahead of earnings (just as examples). 

The problem with bubbles and my main reason on avoiding them is nobody knows when they'll pop, and if you put yourself on wrong side when you speculate a bubble is occurring, even if your thesis is right, you still stand to take a large loss.

I agree that we see things the same on a bunch of issues, but you don't really post in the stock thread, so me not taking a position on something with high conviction wouldn't make sense to you, but I can assure this isn't the only thing, Tesla being a good example that I post about frequently, and the price keeps proving me wrong. While I'm convinced they're wildly overvalued, I've avoided, which in turn has kept me from losing large sums of money. Putting yourself on the opposite side of a frenzy is something I won't do anymore, I just don't have to speculate like that. 

I've accepted I'll never be "rich as ####," something I've come to terms with. I'm extremely comfortable and on my way to building a very healthy amount of wealth if I just stay the course, I have no need to step out of line. So while I do my due diligence, I don't have any real intentions of putting skin in the game on any coin base related assets, at the current time.

 

[Rick James]

Yeah I mean cryptos are 1% of our net worth today.

 

[lumpy19]

 

[Otis]

 

 

[ren hoek]

Bobby Lee‏Verified account @bobbyclee  22h22 hours ago

#Bitcoin price is resilient b/c its value doesn't come from Gov't Acceptance/Regulation. Its value comes from failure of #Fiat money system.

64 replies625 retweets1,387 likes

 

[lumpy19]

Bobby Lee‏Verified account @bobbyclee  22h22 hours ago

#Bitcoin price is resilient b/c its value doesn't come from Gov't Acceptance/Regulation. Its value comes from failure of #Fiat money system.

64 replies625 retweets1,387 likes

It's value comes from being AWESOME

 

[ren hoek]

http://fork.lol/

 

 

[Tiger Fan]

will be testing out my first bitcoin ATM withdrawal experience when I touch down in Vegas today

 

[ren hoek]

Looks like there's going to be another contentious hardfork on the bitcoin chain in November for the Segwit2x upgrade.  Might want to have your bitcoin stored on a wallet you have the private keys to.  That way you'll have control of the forked currency from the new chain. 

In other words, probably a good idea to go ahead and invest in a Ledger, Trezor, or paper wallet if you're not actively trading btc.   

 

[Nathan R. Jessep]

Looks like there's going to be another contentious hardfork on the bitcoin chain in November for the Segwit2x upgrade.  Might want to have your bitcoin stored on a wallet you have the private keys to.  That way you'll have control of the forked currency from the new chain. 

In other words, probably a good idea to go ahead and invest in a Ledger, Trezor, or paper wallet if you're not actively trading btc.   

What happens if we don't?

I have a tiny fraction of a bitcoin just for following along on the ride, so not worried about losing anything, I am just curious. 

 

[NotSmart]

What happens if we don't?

https://www.youtube.com/watch?v=HU8gvF6WCIk

 

[ren hoek]

What happens if we don't?

I have a tiny fraction of a bitcoin just for following along on the ride, so not worried about losing anything, I am just curious. 

Basically you won't have any control over the Segwit2x coins that will be issued to all holders on the original bitcoin chain when the fork happens.  If it happens anyway.  

It's the same reason people who were holding their bitcoin on Coinbase still can't access their equivalent amount in bitcoin cash.  Something like 90% of miners are signalling support for the 2x fork, which means most of the hashpower driving the original bitcoin chain (making it possible to trade/transact bitcoin) will move to the 2x chain.  I'd definitely make it a point to hold onto both until we know how the price/ecosystem is going to play out.  

 

[Sputnikv8]

Basically you won't have any control over the Segwit2x coins that will be issued to all holders on the original bitcoin chain when the fork happens.  If it happens anyway.  

It's the same reason people who were holding their bitcoin on Coinbase still can't access their equivalent amount in bitcoin cash.  Something like 90% of miners are signalling support for the 2x fork, which means most of the hashpower driving the original bitcoin chain (making it possible to trade/transact bitcoin) will move to the 2x chain.  I'd definitely make it a point to hold onto both until we know how the price/ecosystem is going to play out.  

 Can you splain this again?  Are you saying ppl that own bitcoin that don't get a paper wallet (for example) will be "stuck" if this segwit2x happens?

 

[ren hoek]

 Can you splain this again?  Are you saying ppl that own bitcoin that don't get a paper wallet (for example) will be "stuck" if this segwit2x happens?

Looking at Coinbase as an example, it's going to work similarly to the Bitcoin Cash hard fork that happened on August 1st. 

https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbdf

Basically, if you don't own the private keys to the wallet you have btc stored in (like if you're keeping them on an exchange such as Coinbase or Bittrex), then you are at the mercy of the exchange and whether or not they will support multiple chains for withdrawal after the Segwit2x hard fork.  Again, if it happens in November.

If you do own the private keys to your wallet, as with a paper wallet or Ledger wallet, then you will have full claim and ownership of the coins on both chains.  

With each block that gets mined, the miner can signal whatever type of message they want to broadcast in the coinbase (not to be confused with the exchange company "Coinbase," although this is presumably where they get their name) of the block.  You can look at mined blocks here and here for example, click to view the scripts and see that BTCC Pool and BitFury are signaling support for the NYA, or New York Agreement, which was basically a consensus by miners and exchanges to support a doubling of the blocksize from 1MB to 2MB through Segwit2x.  This would enable faster confirmation times and lower tx fees, essentially making btc more adoptable on a larger scale.  

The only people against this really are the Bitcoin Core developers and Blockstream, who became the predominant entity behind the current Bitcoin client being run on the network.  They are essentially arguing that scaling up the blocksize to allow for higher transaction capability and lower fees is a threat to security.  They are funded by tens of millions of dollars by VC firms, have argued that high fees to transact with a currency is somehow preferable in the face of basic economics and smalltime user adoption, even lobbied the SEC to protect the legacy chain from competition.  To be fair, it is understandable to an extent that bitcoin maximalists (people who want btc's price to remain high and unthreatened by hard forks and resulting coins that might siphon value away from the legacy coin) would want to avoid hard forks.  Here's a pretty good article about Blockstream.  

I don't really understand the argument for keeping the blocksizes small but a lot of powerful people are making it.  Hopefully this is more helpful than confusing

 

[Nathan R. Jessep]

Thanks, ren. I'm still confused, but a little less so now.  

 

[Charlie Harper]

Looking at Coinbase as an example, it's going to work similarly to the Bitcoin Cash hard fork that happened on August 1st. 

https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbdf

Basically, if you don't own the private keys to the wallet you have btc stored in (like if you're keeping them on an exchange such as Coinbase or Bittrex), then you are at the mercy of the exchange and whether or not they will support multiple chains for withdrawal after the Segwit2x hard fork.  Again, if it happens in November.

If you do own the private keys to your wallet, as with a paper wallet or Ledger wallet, then you will have full claim and ownership of the coins on both chains.  

With each block that gets mined, the miner can signal whatever type of message they want to broadcast in the coinbase (not to be confused with the exchange company "Coinbase," although this is presumably where they get their name) of the block.  You can look at mined blocks here and here for example, click to view the scripts and see that BTCC Pool and BitFury are signaling support for the NYA, or New York Agreement, which was basically a consensus by miners and exchanges to support a doubling of the blocksize from 1MB to 2MB through Segwit2x.  This would enable faster confirmation times and lower tx fees, essentially making btc more adoptable on a larger scale.  

The only people against this really are the Bitcoin Core developers and Blockstream, who became the predominant entity behind the current Bitcoin client being run on the network.  They are essentially arguing that scaling up the blocksize to allow for higher transaction capability and lower fees is a threat to security.  They are funded by tens of millions of dollars by VC firms, have argued that high fees to transact with a currency is somehow preferable in the face of basic economics and smalltime user adoption, even lobbied the SEC to protect the legacy chain from competition.  To be fair, it is understandable to an extent that bitcoin maximalists (people who want btc's price to remain high and unthreatened by hard forks and resulting coins that might siphon value away from the legacy coin) would want to avoid hard forks.  Here's a pretty good article about Blockstream.  

I don't really understand the argument for keeping the blocksizes small but a lot of powerful people are making it.  Hopefully this is more helpful than confusing

That article about Blockstream and where BTC is headed....is exactly why I have been skeptical about bitcoin long-term. There's no real use for it and it's price is driven by speculation. Here's the exact section:

"Today, we know that Bitcoin Core works on a high fee, capped transaction policy. This isn’t going to change in the near future. Now let’s fast forward to the ultimate saturation point of investment… Suppose Core are so successful, that everyone is invested in Bitcoin… Suppose for a minute, that euphoria is reach… Now every transaction would cost hundreds of dollars at the least. If everyone is invested, and there is no more money to be coming in, then there is no point holding anymore, after all, it is counter-intuitive to transact with, given the hefty fees. The only reason anyone is holding capped Segwit coins today is because they are expecting the value to rise. These are profit seeking investors, and these investors will sell and cash-in at the earliest signs of market saturation.

Now re-play the same scenario with Bitcoin Cash (Bitcoin’s original roadmap). The entire world is invested in Bitcoin Cash, and the entire world can transact securely, and freely with minimal fees… Merchants transact and use it daily, knowing it is safe to use, does not cost you much, is mathematically governed, and will not lose value over time. The difference here is that Bitcoin Cash maintains a strong use-case upwards and onwards. Its utility remains very much alive and usable, even after market saturation.

On the other hand, Bitcoin (BTC), has effectively become a pyramid scheme. It’s only use case is literally store of value. And when everyone has their money in it, the only thing left to do is take it out."

Unfortunately it looks like the main currency is bitcoin core (BTC) vs. Bitcoin Cash. And all this infighting and hard forks are exactly why cryptocurrency is not a long term solution. It's too easy to manipulate the value/direction.

 

[ren hoek]

Thanks, ren. I'm still confused, but a little less so now.  

Thanks, I'm pretty well consumed with this stuff anymore so if I can help people follow along that's great.  I'd be curious to hear hooter311 and iluvbeer99's take on btc/btc1/bch going forward.  

I missed out on several thousand dollars from selling btc before the fork on account of not having any idea what was going on.  I literally thought Bitcoin Cash was some sort of inflationary measure because it had the word cash in it.  "never again"  

 

[ren hoek]

That article about Blockstream and where BTC is headed....is exactly why I have been skeptical about bitcoin long-term. There's no real use for it and it's price is driven by speculation. Here's the exact section:

Unfortunately it looks like the main currency is bitcoin core (BTC) vs. Bitcoin Cash. And all this infighting and hard forks are exactly why cryptocurrency is not a long term solution. It's too easy to manipulate the value/direction.

https://i.imgur.com/ZlWEeNe.png

Well, that's one way to look at it.  Another way to look at it is that digital currency is the future of civilization whether or not we know it yet.  It is highly divisible, run independently by a decentralized computer program, governed by the laws of mathematics and transferable in a way no other currency ever could be.  Bitcoin exploded after the August 1st fork and that was the most contentious fork it's ever had.  

Not only that, but like I posted in the other thread, it's the biggest transfer of wealth in human history.  The marketcap for these currencies is only $147 billion dollars and will likely end up being several trillion within 5 years.  I wouldn't recommend investing if you're worried about volatility but that's part of the fun.  It's a honeybadger market.  

 

[Charlie Harper]

https://i.imgur.com/ZlWEeNe.png

Well, that's one way to look at it.  Another way to look at it is that digital currency is the future of civilization whether or not we know it yet.  It is highly divisible, run independently by a decentralized computer program, governed by the laws of mathematics and transferable in a way no other currency ever could be.  Bitcoin exploded after the August 1st fork and that was the most contentious fork it's ever had.  

Not only that, but like I posted in the other thread, it's the biggest transfer of wealth in human history.  The marketcap for these currencies is only $147 billion dollars and will likely end up being several trillion within 5 years.  I wouldn't recommend investing if you're worried about volatility but that's part of the fun.  It's a honeybadger market.  

It seems like it's decentralized and not backed by a government/entities...but how many hard forks has Bitcoin had already? How many are planned? For something that should be permanent and "decentralized" there has been a lot of whole scale changes. 

So people are transferring their wealth into bitcoin and then what? In order to use said wealth they have to transfer back to fiat. Very few things can be paid with bitcoin. Just seems like so many barriers

 

[chet]

$4930 now.  May have broken $5k earlier today.

 

[Tiger Fan]

will be testing out my first bitcoin ATM withdrawal experience when I touch down in Vegas today

Experience was simple.  Go to the ATM, punch in your phone number, it texts you a code....you confirm the code, type in how much you want to withdraw ($500 max unless you're verified), scan your ID (presumably for backup purposes) and it texts you back in about 10 minutes when it was ready with a different code.  Only downside is it was an 8% fee.  I've read there are 2% fees out there, but there's no way I'm paying 8% ever.

 

[Charlie Harper]

Experience was simple.  Go to the ATM, punch in your phone number, it texts you a code....you confirm the code, type in how much you want to withdraw ($500 max unless you're verified), scan your ID (presumably for backup purposes) and it texts you back in about 10 minutes when it was ready with a different code.  Only downside is it was an 8% fee.  I've read there are 2% fees out there, but there's no way I'm paying 8% ever.

It's sooooo much cheaper than fiat currency!!

 

[regularguy]

$4930 now.  May have broken $5k earlier today.

I want to sell on your exchange.

 

[ren hoek]

It seems like it's decentralized and not backed by a government/entities...but how many hard forks has Bitcoin had already? How many are planned? For something that should be permanent and "decentralized" there has been a lot of whole scale changes. 

So people are transferring their wealth into bitcoin and then what? In order to use said wealth they have to transfer back to fiat. Very few things can be paid with bitcoin. Just seems like so many barriers

I think it's had a couple hard forks.  They aren't always contentious either.  Sometimes they go over smoothly, as with most of the BIPs for bitcoin.  Bitcoin processes something like 3-4 tx per second, while Visa processes something like 20k.  It's got a lot of scaling to do if it expects to be viable for any sort of practical usecase.  

There's a few countries that have legalized Bitcoin as currency, even Goldman Sachs is looking at an investment fund for it.  People transfer their wealth into it and retain the value of their investment with a deflationary currency, unlike government fun bucks.  If you think bitcoin's high now wait til it hits the 21M-unit cap.  Me personally, I think there are obviously higher utility currencies than bitcoin and we'll see that in 2018, but there's really no denying how resilient it is.  

 

[ren hoek]

Learn how to buy Bitcoin

 

[The Indestructible]

Just signed up for Coinbase today.     I'm not looking to make a major investment.  I just want to put some money in to see how the technology works and so I have something to track and watch over time.  Looking at Bitcoin and Ethereum.    

 

[EYLive]

Has anyone purchased GBTC Funds? Is this thing gonna keep falling or is it a good time to buy?
Would it be safer to purchase an ETF with just 5.5% of the GBTC Bitcoin fund?

 

[Rick James]

It's sooooo much cheaper than fiat currency!!

lol it's a vegas thing not a bitcoin thing

 

[lumpy19]

IT'S BEING MANIPULATED SO THEY CAN BUY MY COINS FOR CHEAPER!!!#%%##

Another 10%

The bleeding will stop at some point in the next week or two, but it will only be a headfake/temporary reprieve.

You have so many terrible quotes on bitcoin,I picked this one to bump after breaking 5k today

 

[fantasycurse42]

You have so many terrible quotes on bitcoin,I picked this one to bump after breaking 5k today

I would assume so, this isn't my operation.

I had to spend my first 30 minutes in the office today reading fine print on return policies for different retailers, luckily it looks like I can give most of these stores back this #### within 90 days. 

Re Bitcoin: I had an interesting thesis about consumer/government debt I posted in the Stock Thread - not that I'm sold on it, but opinion shifting a little. 

 

[lumpy19]

1. It's not funny if I quote that

2. It's from a different thread

 

[JerseyToughGuys]

 

[JerseyToughGuys]

I wish I could set up stop losses, etc. on coinbase. It would be nice to set an automatic floor and ceiling right now.

 

[strykerpks]

Ok, so I've got like 1/3 of a bitcoin sitting there so I'm not heavily invested or anything. But can someone dumb down this fork stuff to me like I'm on mushrooms and don't understand the concept of money (actually actually happened to me circa '98 while tripping balls in college). I'm not looking to hooter311 my portfolio  into these but a few extra bucks can't hurt are always welcomed. Does it mean that there's 2 or 3 different types of bitcoin? Sorry for being dumb.

 

[Peyton Marino]

heat check

 

[JerseyToughGuys]

Ok, so I've got like 1/3 of a bitcoin sitting there so I'm not heavily invested or anything. But can someone dumb down this fork stuff to me like I'm on mushrooms and don't understand the concept of money (actually actually happened to me circa '98 while tripping balls in college). I'm not looking to hooter311 my portfolio  into these but a few extra bucks can't hurt are always welcomed. Does it mean that there's 2 or 3 different types of bitcoin? Sorry for being dumb.

because I left my bitcoin in Coinbase last time with no ill effects.

 

[ren hoek]

You have so many terrible quotes on bitcoin,I picked this one to bump after breaking 5k today

Re automobiles: I had an interesting thesis about transportation I posted in the Travel Thread - not that I'm sold on it, but opinion shifting a little. 

Thanks,

-horse carriage drivers 

 

[Dan Lambskin]

because I left my bitcoin in Coinbase last time with no ill effects.

You didnt get your Bitcoin Cash then, but I believe they are supposed to turn it over at some point?

 

[ren hoek]

Ok, so I've got like 1/3 of a bitcoin sitting there so I'm not heavily invested or anything. But can someone dumb down this fork stuff to me like I'm on mushrooms and don't understand the concept of money (actually actually happened to me circa '98 while tripping balls in college). I'm not looking to hooter311 my portfolio  into these but a few extra bucks can't hurt are always welcomed. Does it mean that there's 2 or 3 different types of bitcoin? Sorry for being dumb.

I'd recommend getting your bitcoin into a wallet you control the private keys to.  

If you were holding Bitcoin in Coinbase on Aug 1st, they still have your equivalent share of Bitcoin Cash (currently around $325 per).  They will supposedly distribute it before 2018, but they have control over it because they control the private keys to your wallet.  The blockchain automatically allocates the coins resulting from each fork to the private key holders on the original bitcoin chain.  

If you are storing your bitcoins on an exchange, in a custodial service like Coinbase, Circle or Xapo, or on any other service that holds your private keys for you, you may or may not eventually receive BTC, BTG and B2X. This is not yet very clear, and if you want to keep storing your coins on such services, you should at least see if your exchange or custodial service of choice has made an official statement on the forks, perhaps on their company blog. If not, contact them to ask.

That said, if you want to be absolutely sure to be able to access your BTC, BTG and B2X, you should really control your private keys yourself. That way you don’t need to rely on any third party.

If you’re currently using a custodial service to store your bitcoins, you need to create your own wallet instead. Send or withdraw your bitcoins from the custodial service to this new wallet; this wallet then holds your private keys.

What kind of wallet you want to use is up to you. For this specific purpose it’s best to use a wallet that lets you easily access your private keys directly. (Some wallets make this easier for you than others.) But technically, any wallet that lets you control your private keys should be fine.

With that in mind, here are some basic solutions:

https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bgold-and-segwit2x-forks/

 

[ren hoek]

Interesting reminder of why Bitcoin was invented:

People used to pay each other in gold and silver. Difficult to transport. Difficult to divide.

Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide.

Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank.

Central banking was invented. Central banks would be lenders of last resort. Runs on the bank were thus mitigated by banks guaranteeing each other’s deposits through a central bank. The risk of a bank run was not lowered. Its frequency was diminished and its impact was increased. After all, banks remained basically insolvent in this fractional reserve scheme.

Banks would still get in trouble. But now, if one bank got in sufficient trouble, they would all be in trouble at the same time. Governments would have to step in to save them.

All ties between the financial system and gold were severed in 1971 when Nixon decided that the USD would no longer be exchangeable for a fixed amount of gold. This exacerbated the problem, because there was now effectively no limit anymore on the amount of paper money that banks could create.

From this moment on, all money was created as credit. Money ceased to be supported by an asset. When you take out a loan, money is created and lent to you. Banks expect this freshly minted money to be returned to them with interest. Sure, banks need to keep adequate reserves. But these reserves basically consist of the same credit-based money. And reserves are much lower than the loans they make.

This led to an explosion in the money supply. The Federal Reserve stopped reporting M3 in 2006. But the ECB currently reports a yearly increase in the supply of the euro of about 5%.

This leads to a yearly increase in prices. The price increase is somewhat lower than the increase in the money supply. This is because of increased productivity. Society gets better at producing stuff cheaper all the time. So, in absence of money creation you would expect prices to drop every year. That they don’t is the effect of money creation.

What remains is an inflation rate in the 2% range.

Banks have discovered that they can siphon off all the productivity increase + 2% every year, without people complaining too much. They accomplish this currently by increasing the money supply by 5% per year, getting this money returned to them at an interest.

Apart from this insidious tax on society, banks take society hostage every couple of years. In case of a financial crisis, banks need bailouts or the system will collapse.

Apart from these problems, banks and governments are now striving to do away with cash. This would mean that no two free men would be able to exchange money without intermediation by a bank. If you believe that to transact with others is a fundamental right, this should scare you.

The absence of sound money was at the root of the problem. We were force-fed paper money because there were no good alternatives. Gold and silver remain difficult to use.

When it was tried to launch a private currency backed by precious metals (Liberty dollar), this initiative was shut down because it undermined the U.S. currency system. Apparently, a currency alternative could only thrive if “nobody” launched it and if they was no central point of failure.

What was needed was a peer-to-peer electronic cash system. This was what Satoshi Nakamoto described in late-2008. It was a response to all the problems described above. That is why he labeled the genesis block with the text: “03/Jan/2009 Chancellor on brink of second bailout for banks.”. Bitcoin was meant to be an alternative to our current financial system.

 

[Nathan R. Jessep]

anyone use a web/desktop wallet? or has everyone got the hardware wallets? My fraction of a BTC/ETH and ~1 LTC are sitting in my coinbase. Do all my base are belong to them?

 

[Skoo]

anyone use a web/desktop wallet? or has everyone got the hardware wallets? My fraction of a BTC/ETH and ~1 LTC are sitting in my coinbase. Do all my base are belong to them?

I just got the Ledger Nano S over the weekend. It's freaking awesome.

They're set up so that even if you use it on a hacked computer, nothing can be stolen because you must physically push the buttons on the device to send any money anywhere.

They say never keep your money on an exchange. Personally I think if it's not a ton and you're not buying anymore, Coinbase is probably ok for the time being. But I highly recommend the ledger if you're so inclined. Only drawback I've found so far is that it doesn't have space for more than 5 different cryptos.

 

[chet]

I just got the Ledger Nano S over the weekend. It's freaking awesome.

They're set up so that even if you use it on a hacked computer, nothing can be stolen because you must physically push the buttons on the device to send any money anywhere.

They say never keep your money on an exchange. Personally I think if it's not a ton and you're not buying anymore, Coinbase is probably ok for the time being. But I highly recommend the ledger if you're so inclined. Only drawback I've found so far is that it doesn't have space for more than 5 different cryptos.

What happens if you lose/break the thing?

 

[Rick James]

What happens if you lose/break the thing?

If you have your recovery key phrase you can recover the wallet on a new device. The key is the recovery phrase (also called a seed). If you lose that, you're screwed. Some people write it down and keep it in a safe, or in a bank deposit box.

 

[Dan Lambskin]

Got an email from blockchain saying theyll be giving BCC to anyone who had coin in there when it forked 

Dont see the option on mobile but maybe I need to login to desktop version ?

Let me know if anyone else got this and what they had to do.  I dont think had much in there, maybe enough to have $100 worth of BCC ,but I'll still take it

 

[JerseyToughGuys]

 

[JerseyToughGuys]

Got an email from blockchain saying theyll be giving BCC to anyone who had coin in there when it forked 

Dont see the option on mobile but maybe I need to login to desktop version ?

Let me know if anyone else got this and what they had to do.  I dont think had much in there, maybe enough to have $100 worth of BCC ,but I'll still take it

Did not get one...yet?

 

[Dan Lambskin]

Did not get one...yet?

Hmmm... hope mine isn't phising.  Looked legit though 

 

[JerseyToughGuys]

I've been leveling off / playing it conservative since a got a decent chuck in May (post kentucky derby  ). I've sold 60 percent of what I owned then, with a recent mini buy back when it dipped the last time. Happy with the outcome, but I'd be VERY happy if I still had it all and sold it today.

Such is Mango.