Over70irregs
Well-Known Member
Increasing 401k….
Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
100%ORIONComplianceGuy
25+ Year UPSer and Teamster
So you don’t actually have that ColdCard Q?
Over70irregs
Well-Known Member
That picture is an example. For entertainment purposes only. (Who would put their phrases out like that…sheesh)
100%ORIONComplianceGuy
25+ Year UPSer and Teamster
On initial setup, most hardware wallets will let you reset those words before they are a done deal. “Sheesh.”
Ive seen plenty of videos where people reset them off camera but after letting people see the initial words just so they get a feel for how it all works. If you had one I was interested in knowing how you like it since I’m interested in replacing my current wallet. I wasn’t sure what bonds and your 401k has to do with that. But ok.
Over70irregs
Well-Known Member
Here is holy grail for those who are ready to travel down deeper..On initial setup, most hardware wallets will let you reset those words before they are a done deal. “Sheesh.”
Ive seen plenty of videos where people reset them off camera but after letting people see the initial words just so they get a feel for how it all works. If you had one I was interested in knowing how you like it since I’m interested in replacing my current wallet. I wasn’t sure what bonds and your 401k has to do with that. But ok.
Eventually the base layer becomes as unto solid bedrock. This is where altcoins or testnet functionality gets added or copied in 2nd level or higher.
Economically Unspendable Bitcoin UTXOs
UTXO management guidance for avoiding footguns that can cause problems during times of high transaction fees.
blog.lopp.net
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100%ORIONComplianceGuy
25+ Year UPSer and Teamster
I had recently learned of the potential problems of having too many UTXOs in a wallet. Particularly smaller transactions. I’m not looking to spend my BTC but I wanted to consolidate sooner than later. I attempted that last week and forgot to chose a higher fee (manually, the defaults are too low) so the miners won’t even touch it. I also forgot to chose RBF so I’ll have to rebroadcast at a higher fee or wait until it’s “cancelled” and try again.Here is holy grail for those who are ready to travel down deeper..
Eventually the base layer becomes as unto solid bedrock. This is where altcoins or testnet functionality gets added or copied in 2nd level or higher.
Economically Unspendable Bitcoin UTXOs
UTXO management guidance for avoiding footguns that can cause problems during times of high transaction fees.blog.lopp.net
During all this is where I learned that some hardware wallets are much better than others when it comes to UTXO management. And I’ll be using Sparrow next time anlong with whatever hardware I switch to. And I’ll never self custody under 0.01 again. I had heard that advice many times but didn’t listen. Lesson learned.
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Over70irregs
Well-Known Member
In future I guess it will be a petrified base layer. Like something else is guiding it for the future. Oh well.
Over70irregs
Well-Known Member
1 #bitcoin now stores more wealth than an entire year’s worth of usd wages.
People will only be able to afford a fraction of a satoshi. Avg person doesn’t even have a savings account. No rainy day, sunny day, emergency savings. Bitcoin is for the people who are struggling.
People will only be able to afford a fraction of a satoshi. Avg person doesn’t even have a savings account. No rainy day, sunny day, emergency savings. Bitcoin is for the people who are struggling.
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This is horrible advice.
You don't invest in speculative stuff when you don't have an emergency fund, or any savings.
Over70irregs
Well-Known Member
Some invest. Some convert. Long term is there %10 drag on economy. If hiding in t-bills at 5% pretax you get 2.5% after tax. 2.5% with 10% money supply increase means your losing 4x what your making. You hold cash/bonds majority your DYING. Down to right is hospice.
Over70irregs
Well-Known Member
Dollar cost average for a minimum period of approximately ten years, regardless of price.
Avoid selling during this time period, unless you are forced to do so. Remember scarcity is the advantage that others have no concept.
Avoid selling during this time period, unless you are forced to do so. Remember scarcity is the advantage that others have no concept.
Ridiculous.
First off, I don't have any significant money invested in treasuries.
Secondly, you changed the discussion. Again.
You suggested that Bitcoin is for the people without emergency funds or savings.
That's bull.
People without emergency funds can't wait ten years.
Your advice is very, very awful.
Anyone living paycheck to paycheck who tries to follow your advice will fall flat on their face.
You don't speculate with money you can't afford to lose.
Over70irregs
Well-Known Member
Sorry just grabbed 58.5K…. Had an order in…. Ok let’s see what you got. There are people without savings all over the world. They cannot access a 401k/pension/tbills. No credit. You have every tool in shed. (Check to check people- hear me—-fiat is burn $ meant to toast you.These UPS people wait for Aug 1and COLA because their energy is depleting. Look at their UPS stock while Amazon eats them up) Bitcoin is save tech meant to extinguish flames. It’s so important your Prez hopefuls are getting in line. Wait 10 years he says…. Go back to 2014 and report back. I dare you. Advice awful ?…I present to you the largest network on the planet and space. Fall flat? I show you usd$ down to the right. Speculate ? I give you
Pay SPECIAL attention to the US cash emergency fund line. *Feel free to screenshot for future reference..
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Bottom will depend on how hard those gox coins hit the market.
I really don’t think we’re close to seeing the bottom of this yet.
Just dollar cost average small amounts of money that you aren’t afraid of losing into your exchange of choice, and don’t sell if the bottom falls out.
Over70irregs
Well-Known Member
Not financial advice. I’m laddering. Risk management is vital. The west (Germany + Mt Gox) on Holiday liquidity week is no accident.
_____________________
You Are Here
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100%ORIONComplianceGuy
25+ Year UPSer and Teamster
The bottom is anyone's guess. I wouldn't worry about that. Buying and holding from any reputable exchange is safe as long as you transfer to your own wallet and safeguard the keys. Some people buy in lump sums (or one if you have allot of spare fiat laying around) or dollar cost average. And transferring to your wallet (hardware wallet or non-custodial software wallet) should be done after every minimum accumulation of 0.01 Bitcoin. That could save on fees later if you want to spend/withdraw because a bunch of small transactions are basically more of a hassle for "miners" to process than larger amounts. All those unspent transactions are called "UTXOs."
There are a bunch of exchanges but the more popular ones cost more in fees. I suggest River, Swan, Bitcoin Well, or CashApp. River has free transactions after the first. Swan is free from the beginning up to $10k but they are slow to release funds and BTC. Bitcoin Well charges 1% but requires automatic self custody so you'd need a wallet address ready to go. CashApp is more expensive (but still Cheaper than CoinBase, which i don't recommend) but you can buy and have your BTC moved into your own wallet within minutes.
Good hardware wallets are plentiful. I suggest either of the ColdCard wallets, Keystone Pro 3, or Foundation Passport. But there are others that are just as good. And mobile "layer 2/lightning" wallets can be useful if you want to spend BTC. Or just use as a temporary place to accumulate sats until you reach 0.01. I recommend Aqua Wallet. I move my sats there off the exchange as soon as it's available via lightning network. So it's dirt cheap. Once I reach more than 0.01 I transfer to cold storage using my hardware wallet adress. But if you're comfortable leaving it on the exchange during that time then you'd be fine.
In summary.....chose one of those exchanges....buy.....transfer every 0.01 (or larger lump sum) to your own hardware or non-custodial software wallet.....secure the keys.......chill.
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Over70irregs
Well-Known Member
No words just…..
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Thebrownblob
Well-Known Member
I see words and numbers
Can you even read?
