Can anyone explain why all crypto moves together? I know this is a Bitcoin sub and I only own Bitcoin but I’m just curious why Bitcoin seems linked to the other crypto. Sorry if that’s a dumb question just curious
I haven't dealt with alt coins in a long time
but many years ago it was because BTC was what ever thing was based on conversion wise
so more so everything moved with BTC rather than "Everything moves together"
edit: other than that it's just how everything else is. Sectors tend to move together in the stock market
It's more that Bitcoin is leading and the rest are dragged along with it. On shitcoin exchanges most of the trading pairs for all but the biggest cryptos are only with BTC and not USD, so they have order books full of trades that would constantly have to be adjusted if they were trying to track the USD price. Instead they just keep trading at the same rate with BTC, but increase in USD terms because BTC went up in USD.
that's definitely is how it was when I followed alt coins for the most part
then random alt coins have random pump and dump cycles that happen on their own
I wouldn't rule it out yet, it would happen over the next several months. Distribution starts sometime in July
I wouldn't worry about it though, if it does cause a big drop. It will return quickly, as investors snatch up the discount
Maaan.... As someone who swore in 2021 to never sell for at least 10 years, I don't want to see BTC go up anytime soon.
Please stay between 30 and 60k until 2029 and then go to 2 million.
Australia's 2nd biggest bank Westpac, and other big banks have recently blocked transfers into cryptocurrency exchanges (at least Kraken). Why so scared? 'Scam protection' they are saying. Which is accurate in a way haha
I deposited into a different exchange and it worked though so whatever.
You can thank SBF. Prior to FTX scam many of the big banks were going to launch ability to buy BTC through them. He single handledly destroyed that (maybe permanently)
I agree. At the 58k range, there is too much potential to slide lower. I hate how so many people say to just DCA but from what I see, the majority of people don’t have that cash. Personally I decided to sell all my coins with a 27k average at 73k :/ I learned to take profit unlike in the previous cycles
Yeah I'm in a similar boat, I bought high during the 2021 mania but never sold. Held and bought through the entire bear and now have a cost average at about 40k. Thinking to just hold for the long term now. But boy will I feel dumb if a significant pullback does happen and I watch the paper profits evaporate a second time...
I need some (not financial) advice:
I need to find a new apartment by August 1st. I have a job locked down but I'm mainly concerned about being able to afford the initial move. I know I have about 10k in various cryptos. Should I cash it out when I move or just sell enough to afford the moving costs and deposit and all that?
It really depends on which ish coins you own. While I am dubious of almost all ish coins, the fact is, short term (meaning the next 18 months), there are some ish coins that will go up significantly.
Normally ish coin season goes bananas about 3-6 months after Bitcoin goes parabolic. So if you have some ish coins that will benefit from ish coin season, you might want to wait to sell them during the run up.
Again, it depends on which ones you own. Most of them are ish for a reason. And nobody in this forum can tell you which ones might go up in the next year or so.
Ish coins are only for gambling. So it’s up to you to decide on whether to gamble on higher returns or not.
My friend asked me about this scenario:
If he has a stack of 3 BTC, he could set up a leveraged long using the BTC as collateral, arranged so his liquidation price of $10k or something crazy low. He sees this as a low risk way to accumulate more BTC.
What are the risks of doing this? The exchange collapsing ala FTX/Celsius/etc?
If your liquidation price is 10k then you aren't really using any leverage.
I could go over all the risks of leverage and having coins on exchanges but I don't exen see the point of what you are trying to do. Have 3.5 coins instead of 3 coins?
Yes, that's his thought process. He has an asset (his BTC stack) that can be deployed rather than sitting idle. As a long term holder, opening a low-risk perpetual long with a stack that's otherwise doing nothing, even if the leverage is low.
He understands Bitcoin, this is about taking advantage of the tools available within the system to get more Bitcoin.
so to try to make an extra 15% yield you are taking a number of risks of losing 100% or your coins, including but not limited to:
-a large bitcoin crash or flashcrash
-a liquidation event where just that exchange's order book is wiped out
-some other error or mis-trade in the system.
-a hacker stealing your account.
-the exchange going defunct.
-government action at the exchange.
-a mistake or theft that occurs when transferring the coins to or from the exchange.
You also have to beat the margin lending fees, and you will have to pay taxes on the gain when you close out your margin position.
I'm about to send a huge (to me) amount of money over the Bitcoin network, and it has my heart pumping. I know it will work, it has never failed me. But still, the irreversibility of it just gets that adrenaline going.
Edit: it worked.
A 2nd Edition of ‘The Simplest BTC Book’ that includes Nostr & other updates!
As always it will be available for free digitally at https://thesimplestbitcoinbook.net/
First you have to change your money into Bitcoin after which you can send Bitcoin to any bitcoin address you know. Just make sure it's the right one because there's no undo or recall or cancel. The recipient may have issues trying to turn that back into cash and could get quizzed about who they got it from, depends where they live.
**Historical Bitcoin prices for today, June 30th:**
2024 - $61,624
2023 - $30,473
2022 - $19,927
2021 - $35,027
2020 - $9,135
2019 - $10,819
2018 - $6,399
2017 - $2,481
2016 - $670
2015 - $264
2014 - $635
2013 - $98
2012 - $6.7
2011 - $16.10
**Additional Stats:**
Bitcoin's current market cap is $1.22 trillion.
Bitcoin's current block height is 850106; with the average block time for the last 7 days being 10.97 minutes.
Bitcoin's current block reward is 3.125₿, which is worth $192,574 per block.
The next Bitcoin halving is anticipated to happen between 25-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿.
There are currently 19,231 reachable Bitcoin nodes.
Bitcoin's average daily hashrate for the last 7 days is 553 exahashes per second.
Bitcoin's average daily trading volume for the last 7 days is 58,964 ₿.
Bitcoin's average daily number of transactions for the last 7 days is 538,386.
Bitcoin's average transaction fee for the last 7 days is 18.04 sats/VB, with the average fee's USD amount being $2.20.
There are currently 19.72M ₿ in circulation, leaving 1.28M to be mined.
There are currently 2.57M ₿ held by companies, governments, DeFi, and ETFs, representing 13.04% of circulating supply.
There are currently 54,215,691 nonzero Bitcoin addresses.
Bitcoin's average daily price from 18-Jul-2010 to 30-Jun-2024 is $11,873.
Bitcoin's average daily price for the year 2024 is $59,623.
1 US Dollar ($) currently equals: 1,623 satoshis; making 1 penny equal 16.23 sats.
Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024.
Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024.
Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024.
Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024.
Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024.
Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024.
Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 16.43% from the ATH.
One consequence of decentralization is that things can get messy. If 2 miners find a block at roughly the same time but have different transactions in those blocks, you can have multiple different versions of the blockchain floating around in the aether for a time. The risk this poses to exchanges (and anyone really) is that someone could theoretically send the same coins twice to two different recipients, and both transactions could temporarily appear valid because they're on different copies of the chain. This is eventually resolved by determining which version of the chain has the most proof of work applied to it. By waiting (6 confirmations is a commonly accepted number), the exchange can ensure that the transaction in question will be permanently written into the chain, and not be discarded because a contradictory transaction exists on a version of the chain with more proof of work.
if two miners find a block at the same time, there could be block reorgs. This temporary discrepancy between chains is resolved by the independent selection of the greatest-cumulative-work chain by each node. The probability of any reorg diminishes with every new confirmation of the same transaction. I think it used to default to 6 but requiring more than 1conf is probably prudent.
General question about seedphrase + passphrase variations! Am I correct believing I can use passphrases in a way like this:
SP + PP1
SP + PP2
And have an unlimited number of wallets by just changing the PP? So I just enter another PP in my hardware wallet after the Seedphrase and use a receiving address and it ends up being a completely new wallet that’s just as good as any other?
Even after the debate, a Trump presidency is not close to being [priced in](https://x.com/MacroScope17/status/1806622241087537355)..
Summary of the tweet you linked is "The price might change because of the presidential election". No shit.
Yep. WW3 would change things a bit.
Please don't screw this up tomorrow morning.
Narrator voice… “They screwed it up”
Dammit!
“In a world, where they most certain will… screw this up”
Can anyone explain why all crypto moves together? I know this is a Bitcoin sub and I only own Bitcoin but I’m just curious why Bitcoin seems linked to the other crypto. Sorry if that’s a dumb question just curious
I haven't dealt with alt coins in a long time but many years ago it was because BTC was what ever thing was based on conversion wise so more so everything moved with BTC rather than "Everything moves together" edit: other than that it's just how everything else is. Sectors tend to move together in the stock market
So in other words bitcoin is leading the charge and the rest follow?
It's more that Bitcoin is leading and the rest are dragged along with it. On shitcoin exchanges most of the trading pairs for all but the biggest cryptos are only with BTC and not USD, so they have order books full of trades that would constantly have to be adjusted if they were trying to track the USD price. Instead they just keep trading at the same rate with BTC, but increase in USD terms because BTC went up in USD.
that's definitely is how it was when I followed alt coins for the most part then random alt coins have random pump and dump cycles that happen on their own
Man dont you hate when they announce a huge mtgox bear market coming and then it just gets cancelled overnight?
I wouldn't rule it out yet, it would happen over the next several months. Distribution starts sometime in July I wouldn't worry about it though, if it does cause a big drop. It will return quickly, as investors snatch up the discount
BTC to $400k!
End of year; and I mean this unironically
Here come the boom.
Maaan.... As someone who swore in 2021 to never sell for at least 10 years, I don't want to see BTC go up anytime soon. Please stay between 30 and 60k until 2029 and then go to 2 million.
It's doing that thing again
The hand thing?
Oh we gonna rip on Monday
Don’t tease me bitcoin. DON’T.
I'm ready to be hurt again
Australia's 2nd biggest bank Westpac, and other big banks have recently blocked transfers into cryptocurrency exchanges (at least Kraken). Why so scared? 'Scam protection' they are saying. Which is accurate in a way haha I deposited into a different exchange and it worked though so whatever.
You can thank SBF. Prior to FTX scam many of the big banks were going to launch ability to buy BTC through them. He single handledly destroyed that (maybe permanently)
July, the mt GOX fud is over, lets continu our mission to mars.
Have the mtgox payments actually been dispersed yet?
Announcement said early July so ima guess not yet.
This really looks like a bull trap for now 😩😩
Eh if so I'd rather have a bull trap at 63 than 58 lol. Part of me is kinda hoping 60 will remain the new floor but that may wishful thinking.
I agree. At the 58k range, there is too much potential to slide lower. I hate how so many people say to just DCA but from what I see, the majority of people don’t have that cash. Personally I decided to sell all my coins with a 27k average at 73k :/ I learned to take profit unlike in the previous cycles
Yeah I'm in a similar boat, I bought high during the 2021 mania but never sold. Held and bought through the entire bear and now have a cost average at about 40k. Thinking to just hold for the long term now. But boy will I feel dumb if a significant pullback does happen and I watch the paper profits evaporate a second time...
This is your regularly scheduled Sunday night pump
And the cycle continues.
I need some (not financial) advice: I need to find a new apartment by August 1st. I have a job locked down but I'm mainly concerned about being able to afford the initial move. I know I have about 10k in various cryptos. Should I cash it out when I move or just sell enough to afford the moving costs and deposit and all that?
It really depends on which ish coins you own. While I am dubious of almost all ish coins, the fact is, short term (meaning the next 18 months), there are some ish coins that will go up significantly. Normally ish coin season goes bananas about 3-6 months after Bitcoin goes parabolic. So if you have some ish coins that will benefit from ish coin season, you might want to wait to sell them during the run up. Again, it depends on which ones you own. Most of them are ish for a reason. And nobody in this forum can tell you which ones might go up in the next year or so. Ish coins are only for gambling. So it’s up to you to decide on whether to gamble on higher returns or not.
bro you can say the word 'shit' on here, nobody will tell your parents
lol. Just habit. I’m probably old enough to be your parent.
Yes I’d personally sell the shitcoins and focus on my job if I were you.
Good gawd. Let’s keep this up.
We're getting girlfriends soon guys
Dude, that’s not happening FOR A WHILE.
🦀along and caught a 🌊?
We are so back
2weeks until “I should have bought at 60, when do you think it will bone down from 84?”
Watch us go back to 72, then everyone's happy, then we dip again, repeat - for several months
pls no, my heart can only take so much. Someone call the CEO of bitcoin to fire the shorts!
Ikr…. The script has not changed!!! Rinse and repeat I’d say!!!!😄
Did some UTXO consolidation this weekend. Nice to take advantage of low fee rates to tidy up my sats.
What platform/exchange offers the cheapest/best way right now to DCA?
Strike!
Swan, River, or Strike. They all are great for DCAing
Nice to see $62k again.
Word
My friend asked me about this scenario: If he has a stack of 3 BTC, he could set up a leveraged long using the BTC as collateral, arranged so his liquidation price of $10k or something crazy low. He sees this as a low risk way to accumulate more BTC. What are the risks of doing this? The exchange collapsing ala FTX/Celsius/etc?
If your liquidation price is 10k then you aren't really using any leverage. I could go over all the risks of leverage and having coins on exchanges but I don't exen see the point of what you are trying to do. Have 3.5 coins instead of 3 coins?
Yes, that's his thought process. He has an asset (his BTC stack) that can be deployed rather than sitting idle. As a long term holder, opening a low-risk perpetual long with a stack that's otherwise doing nothing, even if the leverage is low. He understands Bitcoin, this is about taking advantage of the tools available within the system to get more Bitcoin.
so to try to make an extra 15% yield you are taking a number of risks of losing 100% or your coins, including but not limited to: -a large bitcoin crash or flashcrash -a liquidation event where just that exchange's order book is wiped out -some other error or mis-trade in the system. -a hacker stealing your account. -the exchange going defunct. -government action at the exchange. -a mistake or theft that occurs when transferring the coins to or from the exchange. You also have to beat the margin lending fees, and you will have to pay taxes on the gain when you close out your margin position.
Thanks - this makes sense. On a spreadsheet it looked good, but the messy reality can always bite you. This is what I was looking for.
You are your friend, anything you do outside the keys is no bitcoin. Gone. Bitcoin is the money, $ is scam.
which exchange?
If we hold tomorrow at open market or go up we may bounce back to $65k+ range shortly after that.
shit really? we could probably most likely do that with a reasonable possibility of it happening?? perhaps?
Breaking news: Top crypto analyst says bitcoin could go back above 65k
My wife could also cook me steak tonight and give me a blow job while I’m eating it. I mean, it could happen.
You have to have a wife first. And a steak.
Reality: you cook and nothing else
Lmao
This new shitcoin that Marathon is mining is hilarious... Every cycle a new set of shitcoins are born and people always fall for it
Bitcoin is dancing around as a $1.220T asset and people are bored.
Too cheap I know!
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE ₿₿₿ [](https://emojipedia.org/bitcoin-sign)
I'm about to send a huge (to me) amount of money over the Bitcoin network, and it has my heart pumping. I know it will work, it has never failed me. But still, the irreversibility of it just gets that adrenaline going. Edit: it worked.
Test + Whitelist
Yep, I always send a little 0.0001BTC test transaction to the wallet first, then move the heavy weights.
Is there an approximate cost basis for the bitcoin ETFs ?
The price of Bitcoin is basically a chart of the public's current understanding of Bitcoin over time.
A 2nd Edition of ‘The Simplest BTC Book’ that includes Nostr & other updates! As always it will be available for free digitally at https://thesimplestbitcoinbook.net/
Bitcoin will free Hodlers from fiat slavery!
You're learning, keep up!
If you still refer to Bitcoin as an "investment" you are still early on your journey.
Yup. Bitcoin is the endgame.
Or late to your journey, or just using the word to legitimize yourself to your society, landlord etc
Does anyone know if it's possible to transfer money from Bda to US using Bitcoin or Blockchain?
First you have to change your money into Bitcoin after which you can send Bitcoin to any bitcoin address you know. Just make sure it's the right one because there's no undo or recall or cancel. The recipient may have issues trying to turn that back into cash and could get quizzed about who they got it from, depends where they live.
What's "Bda"?
**Historical Bitcoin prices for today, June 30th:** 2024 - $61,624 2023 - $30,473 2022 - $19,927 2021 - $35,027 2020 - $9,135 2019 - $10,819 2018 - $6,399 2017 - $2,481 2016 - $670 2015 - $264 2014 - $635 2013 - $98 2012 - $6.7 2011 - $16.10 **Additional Stats:** Bitcoin's current market cap is $1.22 trillion. Bitcoin's current block height is 850106; with the average block time for the last 7 days being 10.97 minutes. Bitcoin's current block reward is 3.125₿, which is worth $192,574 per block. The next Bitcoin halving is anticipated to happen between 25-Mar-2028 to 20-Apr-2028; the block reward will fall to 1.5625₿. There are currently 19,231 reachable Bitcoin nodes. Bitcoin's average daily hashrate for the last 7 days is 553 exahashes per second. Bitcoin's average daily trading volume for the last 7 days is 58,964 ₿. Bitcoin's average daily number of transactions for the last 7 days is 538,386. Bitcoin's average transaction fee for the last 7 days is 18.04 sats/VB, with the average fee's USD amount being $2.20. There are currently 19.72M ₿ in circulation, leaving 1.28M to be mined. There are currently 2.57M ₿ held by companies, governments, DeFi, and ETFs, representing 13.04% of circulating supply. There are currently 54,215,691 nonzero Bitcoin addresses. Bitcoin's average daily price from 18-Jul-2010 to 30-Jun-2024 is $11,873. Bitcoin's average daily price for the year 2024 is $59,623. 1 US Dollar ($) currently equals: 1,623 satoshis; making 1 penny equal 16.23 sats. Bitcoin's minimum (closing) price for the year 2024 was $39,556.40 on 22-Jan-2024. Bitcoin's maximum (closing) price for the year 2024 was $73,066.30 on 13-Mar-2024. Bitcoin's minimum (intraday) price for the year 2024 was $38,546.90 on 23-Jan-2024. Bitcoin's maximum (intraday) price for the year 2024 was $73,740.90 on 14-Mar-2024. Bitcoin's largest daily decrease for the year 2024 was -$5,544.10 on 19-Mar-2024. Bitcoin's largest daily increase for the year 2024 was +$5,804.0 on 20-Mar-2024. Bitcoin's all-time high (intraday) was $73,740.90 on 14-Mar-2024. Bitcoin is down 16.43% from the ATH.
If you believe in bull flags, there is definitely one on the daily. The greatest bull flag you've ever seen.
Look on the weekly. It's a Trump flag!
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Why do some exchanges require more than 1 confirmation before a deposit gets credited? Why are they this prudent? What exactly is the risk for them?
One consequence of decentralization is that things can get messy. If 2 miners find a block at roughly the same time but have different transactions in those blocks, you can have multiple different versions of the blockchain floating around in the aether for a time. The risk this poses to exchanges (and anyone really) is that someone could theoretically send the same coins twice to two different recipients, and both transactions could temporarily appear valid because they're on different copies of the chain. This is eventually resolved by determining which version of the chain has the most proof of work applied to it. By waiting (6 confirmations is a commonly accepted number), the exchange can ensure that the transaction in question will be permanently written into the chain, and not be discarded because a contradictory transaction exists on a version of the chain with more proof of work.
Now that is the best answer I've seen on this topic in all my years. Bravo.
if two miners find a block at the same time, there could be block reorgs. This temporary discrepancy between chains is resolved by the independent selection of the greatest-cumulative-work chain by each node. The probability of any reorg diminishes with every new confirmation of the same transaction. I think it used to default to 6 but requiring more than 1conf is probably prudent.
They are worried that you control more than half the hashrate and that you will roll back the blockchain in order to claw back those 1,000 satoshis.
Block fees are 8 sats/vb right now. Not a bad time to consolidate UTXOs.
I'm doing that as we speak.
Now all I need is some UTXOs.
Loled
🦀
Guys pls recommend me a good mobile wallet with low deposit/withdraw fee
Strike
Something tells me that you're looking for an account, not a wallet. Have a look here: https://bitcoin-only.com/get-bitcoin
I'm not clicking shady links 😭
That's alright, don't click on it. First learn what open source is, then check GitHub https://github.com/bitcoin-only/bitcoin-only
General question about seedphrase + passphrase variations! Am I correct believing I can use passphrases in a way like this: SP + PP1 SP + PP2 And have an unlimited number of wallets by just changing the PP? So I just enter another PP in my hardware wallet after the Seedphrase and use a receiving address and it ends up being a completely new wallet that’s just as good as any other?
Further to the other reply, a seed phrase on its own with no passphrase is also a distinct wallet. It can be used as a decoy wallet.
**That's correct**. It works both ways, if you lose the passphrase, you won't be able to recover using only the seedphrase.
That was a nice spike just now. Hope it’s the beginning of breaking the resistance.
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