r/BitcoinBeginners

Hi Everyone, Wondering what is the best way to get BTC without having to perform a KYC or other identity check within the EU. I’ve heard P2P markets might be the way to go, if so what is the best method to go about using a P2P market. Thanks in advance

Hallo liebe Crypto-Community,

ich hoffe, es geht euch allen gut und eure Portfolios sind grün 😊

Nachdem ich einiges an Research gemacht habe, bin ich auf der Suche nach kreativen, aber vor allem sicheren Ideen, wie ihr eure Hardware-Wallets (Ledger, Trezor etc.) versteckt oder aufbewahrt. Nicht nur die offensichtlichen Orte wie Safe oder Schublade, sondern richtig durchdachte Lösungen, die Diebe oder neugierige Blicke austricksen.

Versteckt ihr sie eher offensichtlich („Security by Obscurity“)?

Oder eher in speziellen Verstecken zu Hause?

Habt ihr smarte DIY-Ideen oder sogar professionelle Aufbewahrungslösungen?

Was sind eure größten Learnings aus der Praxis (ohne zu viel preiszugeben natürlich)?

Ich bin für jede kreative Anregung dankbar – Hauptsache, es bleibt praktikabel und erhöht die Sicherheit. Teilt gerne eure Gedanken, aber bleibt bitte vage genug, damit niemand auf dumme Ideen kommt.

Danke schon mal im Voraus! Bleibt sicher und stackt weiter🚀

Can someone explain how bitcoin works as? After the decade, I still don't understand it and how it's worth anything.

Hi everyone,

I’m new to mining and just trying to learn from people who have actually done it.

For people who started small, like with one machine or a very set up, what did you realize after getting into it?

I’m not really asking about making quick money. More like the stuff beginners don’t think about at first. The heat, noise, power, internet, space, maintenance, all that good stuff.

At what point would you tell someone don’t even start it until you have a better set up?

I’m trying to figure out what actually matters before buying anything.

Appreciate any advice and tips!

Not sure if this belongs here but figured this crowd might get it.

I've been into Bitcoin for a few years and the one thing that always frustrated me was tracking my holdings without giving up my keys. I use Rocket Money to stay on track of my finances, but there was never a clean implementation for how it tracked Bitcoin, and I felt like I was being wasteful with money because I saw things through a fiat lens.

So I started building a portfolio tracker that works with your xpub (READ-ONLY wallet, never the private key) or manual balance. You paste it in once, it derives your addresses, and it shows your balance and in addition to that, everything is priced in Bitcoin. Spending, account balance, income, etc. I feel like it helps me start to value my money more when I see it in the money that I can't make more of (Bitcoin)

The thing I didn't expect was how many people had the exact same complaint when I started talking about it. Everyone's just kind of... dealing with the friction.

Still in early days but if you're curious, it's called Compass. Happy to answer questions about how the xpub tracking works if anyone wants to go down that rabbit hole. Link in comments

What's the difference between a crypto wrench attack and a fiat wrench attack?

I'd not come across this until I entered crypto land and it sounds like just scaremongering to me

I can't post anything

I can't leave comments 😭

And etc

How should I use it

Its so complicated

Help me out

I find it strange how the consensus opinion was that the 4-year cycle is dead, but now after the recent dip the consensus is that the 4-year cycle is “confirmed”. It seems to be a complete and sudden narrative shift in the eyes of the public. Personally, like many others, I have maintained my investment strategy based on the 4-year cycle, but my main issue with this now is that it seems too many people are in the same boat. This leads me to the age-old saying of “it’s too good to be true”. Are we all really going to come out of this with 2x, 3x, or even 5x returns after the alleged bottom in Q4? I may be overthinking it but my gut tells me I shouldn’t be in the same headspace as the majority, as the majority is usually the group holding the bags. Then again, maybe I’m just a hyper-contrarian.

I hope I’m wrong for thinking this, but it would be strange to see everything play out the way it’s supposed to and we come out with life changing returns. Especially with MSTR being a big target for Bitcoin holders wanting a levered position. Theoretically, if Bitcoin reaches a new ATH around $250k, MSTR would likely trade at well over $1k/share. That would (roughly) be a 4x for Bitcoin holders, a 10x for MSTR holders, and a 20x for levered MSTR holders. Does anyone else think that it’s too good to be true for it to be this easy and simple?

Curious what actually matters to people here when picking a cold wallet.

What was the main reason you chose yours, and what brand are you using now?

I’m trying to figure out what real users care about most — security, ease of use, price, open source, or something else.

I’m new to mining have a Avalon q and nano 3s. When the shares start to accumulate and miner has been running for two weeks or more does anyone else restart? I started out with getting a lot of share but as the days and weeks went by I realized it gradually started to slow down. Is this normal? Just curious.

I used some faucets and they all didn’t work. I just need it for testing

Are there any YouTubers, discord communities to follow, tips..

I want to learn how to use the Binance app and how crypto works. I want to start small then hopefully when I get confident, earn big. I hear people doing well when I look into it and I wnat to know what I’m looking at and understand it. I understand it’s like gambling and I wnat to give it a go ..

Do you guy document record of bitcoin bought/ transferred/ sold for tax purposes?
Edit: I am in Canada

Can someone please confirm if my understanding is correct...

• Both a 24 word seed and a 24 word seed with a passphrase generate a 256bit number that gives control to the keys to a set of wallets. Basically they have the same level of security, assuming your 24 word seed can't be hacked but in practice the added passphrase adds more security to manage the risk someone finds your 24 seed words...
• If someone were to guess this seed (e.g. by brute force), they could spend/control any funds in any wallet generated with this seed. They woulnd't need to know the wallets, they have the keys to all so you would lose control. I appreciate theoretically this is "impossible" based on maths but its a non zero chance no matter what precautions you take and maybe with tech advancements in 1000s of years it becomes less impossible without changes to standard.
• Multisig manages this specific risk by requiring someone to know 2 of 3 (or X of Y) seeds to contol the funds in the wallet. The chance of someone randomly getting the same seed twice is multiple times more impossible... However the risk here for an individual is it becomes more complicated and you have more information to store and potentially lose or get wrong going this route.

For an individual personal vault, multi sig is risk free from being extremely unlucky but adds operational risk which makes it debateable if its worth doing?

Hello, i bought some M21 and S19, but they've had problems. I use a 190V to 227V transformer because the voltage here is low, but I've been having problems for a while. What setup do you use to get the "good" power from the utility company?

No, I can't call them to measure it, and I also don't know if it could be harmonics or surges. My electrical panel has a surge protection device (SPD) and an residual current device (RCD).

I was reading about toroidal transformer but i don't have money now to buy one (i'm from brazil, its like R$15.000,00 =~ US3.000,00)

Its used miners, but i have a lot of problems that the seller say it's working well, but when i test it, it has failures and i return then to the seller. failures like board didn't recognized, boards failing, and restarting miners.

energy stays at 226v

i already have return 7 machines (5x m21, 2x s19), only one m21 keep working good.

where do i store it ? i wanted to keep in in trust wallet but people saying its not good any suggestion ?

So I bought bitcoin thru cashapp. Decided yesterday, i would make my first transaction paying a trusted vendor. Cashapp blocked it. I contacted customer support but they were no help. So I tried transferring bitcoin from cashapp to exodus and THAT was blocked also.

Help?

Hey there!

I need help in transferring 3 USD/EUR to a website Bitcoin address. I am a complete novice in this and it would be such a big help if someone could do it and I could just pay them instead? Please let me know if this is something anyone can help me out with?

Also, I'd prefer if you're from India so I dont have to install other apps to pay you.