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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
I don't actually want to hold bitcoin myself, in the same way I don't keep piles of cash at home. I'd prefer to keep it insured in a bank, and use it as my currency. What's preventing companies like Coinbase from insuring customer bitcoin balances from bankruptcy, theft, fraud, etc? The stories of fraud and bankruptcies are enough to scare most people from wanting to hold bitcoin.
For many, Bitcoin is a safe haven asset in case of systemic economic catastrophe. What steps would be prudent to take in advance to minimize networks fees in event of a Bitcoin "bank run"?
For instance I generally use a new address for each exchange purchase. Would it make sense to consolidate funds into a single address or denominate some into smaller address to prevent change transactions? Synthetic/wrapped on other networks? Pre-funding a Lighting channel? Curious if others have thought of this, or already devised some kind of plan.
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“ Bitcoin marketing: "It's electronic cash! internet money! censorship resistant! earn it, spend it, send it, save it! It will help end war & poverty! be your own bank!" BTCers in 2020: So you buy it...and sell it for more dollars... in a bitcoin bank..that requires ID. 🤡”
For many, Bitcoin is a safe haven asset in case of systemic economic catastrophe. What steps would be prudent to take in advance to minimize networks fees in event of a Bitcoin "bank run"? (x-post from /r/cryptocurrency)
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I am beginning to dip my toes into BTC and have mainly purchased through pro.coinbase. I am looking at DCA to slowly grow my coin. What worries me is the odd post about banks locking accounts for BTC purchases, Santander seems to be the worst. I have used Monzo without any issues so far but was wondering if anyone has set up a bank account for trading only, at least if the account is frozen it won’t stop other outgoings. Any particular banks recommended, I was thinking Revolut?
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Bitcoin Documentary Part 2: Central Banks - YouTube
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