r/BitcoinBeginners

I’ve read about „Bitcoin as collateral“. Nothing new for you guys, I bet. You basically borrow money and use Bitcoin as security. You get loan starting at 5%. With the money I could buy STRC stocks which pay 12% dividend. The margin is my profit.

It sounds too good to be true. What do I miss?

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I have $50 rn for investing. I’m considering putting it into BTC during this dip.

I’m okay with the possibility of losing the money, but I’m wondering if $50 is even worth putting into BTC at this point.

What would you do?

Hi . i want to HODL Bitcoin and i know the best secure way is a cold wallet but the problem is that none of the manufacturers have shipping for my country ( Iraq) . so i search for another option which is a sourcing service but the shipping fees are 100$ apart from problems i may face with the shipment and custom fees which are 30%. so is there an alternative to HODL safely ? right now i have 0.05 BTC sitting in my exchange . is hot wallet an option if i just write the seed phrase in a paper and uninstall the wallet from my phone ?

Should i buy this dip if this is the so called bull run? And is it antispated that it will raise, sorry for bad english

Trying to work this out properly. I have a small amount sitting on an exchange right now. Not a lot. The kind of amount where buying a hardware wallet feels like it eats a significant chunk of the value.

So at what point does selfcustody make financial sense? Is there a rough number people use, or is it purely about risk tolerance and nothing to do with the actual amount?

The fee side confuses me too. If I move Bitcoin to a hardware wallet now and network fees are high, I pay once to move it there. Then if I ever want to move it again I pay again. So for a small holding those fees start to matter a lot relative to what I actually own.

I keep reading "not your keys not your coins." Fine. But nobody seems to talk about the math of whether it is worth it at small amounts. Is the risk of an exchange failing actually that high for a regulated platform in the EU? I am in Germany so wondering if there are local considerations too.

Looking for actual reasoning here, not just the default hardware wallet recommendation. What does the decision actually depend on?

How to buy bitcoin in Slovakia please??

I'm a 16 year old who wants to buy bitcoin I already have a bitcoin wallet set up Phantom Wallet with some money in it but I want to convert my cash into Bitcoin I was thinking about Bitcoin ATMs but i'm not sure I dont got anything to verify myself but i'm seeing low amounts only verify through phone number I want to know if thats true and also I want to know which ATM is better because 2 are nearby me Athena Bitcoin ATM and CoinFlip theres also a UNBANK ATM a mile away but i'm not sure give me your recommendations guys

Hello... With all I have read in the past... FTX ... and what I now read about wallets not being as safe as they once were considered to be (I do not know the difference between hot and cold) is there a good reason not to purchase BTC through Schwab or Fidelity and let them do the storage? Thank You

I have been doing some research into mining and I think solo is the way I am going to go as more of tech geek/enthusiast. From what I have read it seems you can either go solo/lottery, or you can join a pool and get paid way less but way more often. I understand running solo there is a pretty good chance my machine will only ever consume energy and never pay me. I'm ok with that.

My question comes down to, can you do a hybrid or solo mining and pool mining. Like, can I run my own pool comprised of my machine as well as pooling together machines from just friends and family. Then have this set up to combine hashrate and mine "solo" for better chances in the lotto? Is there any difference between doing it this way and having each machine set up at different locations running solo on it's own instead of in a pool?

I want to buy something from someone who will only accept bitcoin. I have zero interest in anything crypto currency- related and want to have a bitcoin account for as little time as possible while doing this one thing. What is the easiest way to do this?

I see there are many places to get a bitcoin account. Are any better than any other? I think the only feature I want/ need is to be able to close the account quickly and easily after the transaction is done. And probably quick setup as well. I presume there's no security, personal info, etc. on these accounts?

It looks like I can stick cash into an ATM at liquor or tobacco stores by me. How much extra cash beyond the amount I want to buy do I need? Will the ATM tell me how much bitcoin I've bought with each $20 I insert? How much value is the bitcoin likely to lose in the 5 or 10 minutes I have the money in the account?

And will the person I'm buying the item from send me, like, a 16- character alphanumeric code or something to identify their account? I figure it's all random characters rather than usernames and the like?

Thanks for any assistance you can give. I never have had any intention of getting any crypto currency account so I know absolutely nothing and trying to read any bitcoin websites, to me, is like Lisa Simpson seeing the "Yahoo Serious Festival" marquee in the Australia episode.

Lately I've been thinking a lot about how to save my seed phrase and I thought of something I can't believe I'm the first one to.

What if I find 1+ places where I can upload to a very public place a file numbered list of BIP39 words like

1. drop

2. inspire

3. tenant

...

1000. horse

and I could have the solution sequece to get the right seed phrase hidden somewhere else?

If possible I'd like no one can know it was ujploaded by me (feasible)
I could save it in many different places because you'd need the solution algorithm/sequence to obtain the seed, right?

Does this make sense?

Also, any ideas where this file could be uploaded?

Many thanks

i think it's pretty self explanatory It's a 2023 trust wallet btc

Imagine a space heater with an onboard computer. You just buy it at Walmart, plug in, set the temperature, and that's it. No configuring software, no wallet, and no plugging it to your home network. It just plugs in and works.

My idea is that the space heater would work directly with the power company. It connects to the Internet through a network that the power company provides via the 110v power service. Then it just mines crypto currency for the power company. They track how much is earned from your house and the deduct it from your electric bill. They keep a portion of the mining earnings to fund the network equipment that has to be added to the grid. And they keep a margin for profit.

I imagine that a person could make a more efficient crypto space heater by building a custom nerdy system, but some of us just want easy.

I feel like this idea should win me a Nobel prize.

I have read that after you generate your seed phrase you can add a 13th or 25 word as a pass phrase to generate your seed.

Can this pass phrase contain numbers or special characters?

Do you just pick a pass phrase, or do you have your own way of generating it?

I read where one guy used four dice and a numbered word list to generate his passphrase.

Just curious.

Thanks!

El año pasado compré Bitcoin en $120K cuando todo el mundo decía que iba rumbo a $200K.

Bueno, poco después llegó a $126K y luego se desplomó.

¿A alguien más le pasó esto, comprar cerca de la cima en un ciclo anterior?

¿Qué hiciste?

Yo estoy comprando la caída.

Hey everyone! I recently sold my Dodge Charger, and I’m considering putting some of the money into Bitcoin because I believe it may have a strong future.

I’m still a beginner, so I’d appreciate advice from people with more experience. What should I learn before buying? Is it better to invest gradually rather than all at once? Which reputable exchanges and wallet types should I research? What mistakes should a beginner avoid?

I’m not looking for guaranteed profits or private investment offers - just general advice and reliable educational resources. I’ll do my own research before making any decisions.

Thanks!

Hi guys. I am holding some bitcoin and I want to learn how to lock it in place for a couple of years so I don't get tempted to sell it while the market is terrible, out of fear and possibly stupid emotions. I looked into the timelock features, but from what I found, that only has a mechanism for creating transactions that someone else can redeem after a certain date or block height. There's no way to schedule and automate transfers and I can't seem to find a way to lock the bitcoin into a wallet where it cannot be touched, accessed, or moved for a set period of time or number of blocks. Can someone with real expertise explain it here for me? I need help getting this working!

Any DM will be ignored.

Is it true that bitcoin follows a cycle of 1069 and 365 days. Saw it on insta and back checked it on data. Can any of the OPs help to verify.

Also, can someone give me source to study current bitcoin market better, because I see people using words like entropy, TRNG, etc.