Last chance to get free bitcoin this weekend. If you snooze you lose. The split is happening
Great post. I don't own any cryptocurrencies, can you guide me to where I can learn how to best get set up? I've read a lot of articles, but haven't pulled the trigger yet.
Anticipating the 8/1/2017 deadline, I initiated a transfer of my BTC from Coinbase to my hardware wallet yesterday, 7/29/17. It took over 1 1/4 days for the transfer to be completed. So I'd suggest not waiting until the last minute for those who are considering such a transfer.
Coinbase reports that they are working through a backlog of transfer orders, and that the BTC network is congested.
There is a lot of tribal knowledge but it is inconsistent, some is very good but become outdated quickly. Much is plain wrong. Almost everything is biased in some way as there is understandably politics involved as it's a paradigm change. Understanding it is an art rather than science as you must see many sides of a moving target and decern the truth between many divergent views.
Even my own views are biased by you can read through my posts here for some help. I've also posted a few of my classroom videos for courses I've taught to help. I'll have other more formal announcements at some point. The topic of crypto is too big to answer easily any longer. An entirely new asset class has been born, a brand new mode of communication, value transfer, networking, file systems, money, property, and governments. There are no easy answers any longer.
Thanks, which exchange do you recommend I open an account at?
Is there a reputable website you can recommend to help get started? Also, for hardware storage do you prefer the Ledger Nanos to others? I looked at the KeepKey website, they look very nice and wondering which is the best hardware wallet?
I use coinbase. You are able to convert fiat into Bitcoin Ethereum or litecoin.
The initial process is fairly intrusive. They need your bank account for obvious reasons. That used to give you access up to $2,500 per week. I say used to because now I think they require a valid drivers license or similar form of ID.
There are others but I've only ever used coinbase for fiat conversions. Never failed.
There are several old posts about this topic in the Bitcoin interest group. I started the "how to store Bitcoin" discussion. Mark and many others posted their experiences.
This is in response to Mrees post in "KIND OF" support for r/btc vs r/bitcoin. When I read your latest post it made me curious and I found the real bitcoin "rabbit hole". Holy COW. HOLY COW!!! So this whole "civil war" is about whether the Bildeberg group is financing Blockstream to control Bitcoin Core Devs to block "bigger blocks" and instead support software that can be controlled by Blocksteam through Segwit patenting? Holy shit. The more I delve the more I know and don't know. Mrees….I need help. Im also curious then if you are part of r/btc or r/bitcoin reddit. Just curious and since I follow you heavily, Id like to know which "camp" you follow. Thanks.
An actual "chick" in the club
PS: This would answer the question as to why TPTB have allowed btc to keep existing. Per Chris et al. who wonder why the central banks have let this continue. They are studying it, trying to control it behind the scenes, and possibly destroy or just plain take over bitcoin/blockchain protocol.
l own all three. The form factor and size of the keepkey is nice but they don't support any of the ethereum based coins (called ERC20 tokens). They might in the future but they are very slow about upgrades and even then they are copying the trezor as its software is open source.
I don't see a lot of chatter in the bitcoin community for the Keepkey for whatever reason so it's not very popular. The most popular tend to be the Nano which sells out quickly and often. I like it the best and is the fastest to handle and support new changes. It was several months before the Trezor caught up to supporting ERC 20 tokens but they are slow about adding support for new ones as they are issued. (This format are how most of the ICOs are done now).
The Keepkey does have the nicest display if they could get everything else up to par it would be nice – but now it's too far behind.
Although I like bitcoin and respect that it lead the way, I found the entire bitcoin camps to be 'circle jerks' of people that just stay in their own bubbles. There is no allowance given for differed opinions. They will also censor or kick you out if you protest too much so they suffer from dangerous 'group think'. I suspect there is also 'plants' placed there to steer opinion and muck things up.
So I check in once in a while for a laugh but still see it's people that live in a bubble and still think any blockchain effort that isn't bitcoin is a scam. They believe their own garbage. Most of the original thinkers and creative types have long left and all you have left are 'fan boys' who just degrade any outside thought.
So which is more important? The free market. Social consensus is much more important than the technology or the miners, or the code itself. You can rest assured that every major government agency around the world is monitoring the blockchain and have several security companies using supercomputers and Artificial intelligence to determine identities. They could have tried to kill bitcoin back in the senate hearing in the fall of 2013 but found the technology so promising that they decided to let it live (although it would have continued underground). Now it's the next revolution in computing and countries that try to ban it or limit it are scrambling to embrace less they are left in the dust (see Russia),
So now we have Etherum, and hundreds of other alternatives if one gets compromised people will shift to others. The big banks are already trying their own blockchain – see EOS and TEZOS. I'm staying away from those. Those networks that they can control and influence is where they are likely to spend their time. I doubt any of them will overcome all of Ethereum's network effects though.
To me, in the big scheme of things, this bitcoin drama is a bit of a side show to pull out the popcorn. It's interesting and I'm happy I made a few bucks from the new calved coin, but I enjoy the science – both technical a political kinds that come out of it.
We have a front row seat to history in the making.