Quote (Golden_Order @ Dec 8 2017 06:01pm)

Future exchanges will join the ride in the following days. Nobody really knows if the price will rise more or suffer a big drop.

In my personal opinion (I could be totally wrong, but this is just my opinion). I think a lot of big whales are buying BTC massively lately, waiting for the futures exchanges, there they will bet that the price will fall to X amount, this way these big whales can profit twice. Profit from selling their BTC high and profit from betting on the fall of the price on the futures exchanges.

Anyone having the save thoughts?. I decided to liquidate part of my BTC because the crazy increase in price in the last days is not normal, and I suspect a big ass correction might come and drop the price below $10k.

I could be 100% wrong though. But better safe than sorry.

Anyway, if this happens, then in the long term, the BTC will eventually recover and continue rising.

What do you guys think?

Quote (obisent @ Dec 8 2017 06:42pm)

Been saying this for awhile. :p

It seems almost too obvious that I wouldn’t be surprised if it went the other way. I’m sitting out right now due to the uncertainty.

Quote (obisent @ Dec 8 2017 02:42pm)

Been saying this for awhile. :p

It seems almost too obvious that I wouldn’t be surprised if it went the other way. I’m sitting out right now due to the uncertainty.

Quote (russian @ Dec 8 2017 01:11pm)

Jaxx is a program that understands how the bitcoin protocol works. It can do things like generate a new address for you, which really means generating a new keypair. It also knows how to sign transactions correctly using your private key or how to verify other transactions using other people's public keys.

It's like your own personal butler who has a copy of your car's keys and you can ask him to go drive to the store to pick up some groceries or whatever. The lock on your car is extremely secure, nobody can lockpick your car and steal it without having a legitimate key. Your butler, on the other hand, is just some guy. He might get drunk at the bar one day and somebody steals your keys from him. Some butlers are more vigilant than others. Some butlers THOUGHT they were good, but then somebody discovered they are very vulnerable to some specific trick or attack.

As long as the butler has a copy of your keys, they could theoretically be stolen from him. But if you are going on vacation for a month and you don't need your car, you could just take the keys away from your butler and put them in a bank safety deposit box. Now the thieves can't steal your car, because the lock on the car is too secure and the only copy of the keys is inside a guarded bank. When you come back from vacation and want to start using your car regularly again, you would get the key from the bank and give it to your butler again. You might even fire your previous butler and hire a new one, it doesn't matter. Every butler knows how car keys work.
A trezor is like a very well-trained, very vigilant butler, who works very hard to make sure he doesn't fuck up and let someone steal your keys from him.

Does that make sense?

edit: to make the analogy closer to bitcoin, we could say the keys are not to a car but to a safe or a deposit box. You can ask your butler to take some money from the safe to pay the bills whenever you want. But the butler himself doesn't actually hold the money, he only holds a copy of the key to the money. As long as you have a copy of the key stored somewhere, you can fire the butler and later hire him or another butler back. The key is the important part, not the butler that uses it to open your safe and pay the bills.

Quote (Golden_Order @ Dec 9 2017 12:05pm)

BTC down to $13.8k on https://coinmarketcap.com/ :o

Will it continue falling or bounce back?

Quote (Thor123422 @ 10 Dec 2017 01:04)

It's going down.

Really makes me sad I had no money available when they went from 5 to 7 because I would have pumped as hard as I could and then taken profits at 12.

It stopped right where I told my research adviser it would too...

Quote (excellence @ Dec 9 2017 11:12pm)

>i told my adviser it was gonna pop off i woulda rode that wave real hard yo

Quote (Thor123422 @ Dec 9 2017 09:04pm)

It's going down.

Really makes me sad I had no money available when they went from 5 to 7 because I would have pumped as hard as I could and then taken profits at 12.

It stopped right where I told my research adviser it would too...

Quote (russian @ Dec 8 2017 12:30pm)

The bitcoin ledger is a record of all transactions that ever occurred. Let's say you bought 10 bitcoins at some point from somewhere and it was transferred to your address X123. The blockchain will now have a record of address X123 receiving 10 bitcoins. There aren't any ACTUAL bitcoins anywhere. They don't exist, they are made up. Everyone on the network simply agrees that address X123 now has 10 bitcoins that he can send to other addresses whenever he wants. The only thing you have to do is prove that you are that address, and you do this by signing a transaction with your private key, and everybody else can use your public key to confirm that you really are that address.

To send coins to binance you would either sweep your key directly into binance (if it supports it) or install a bitcoin wallet like jaxx and sweep the key in there, then send coins to an address binance provides. Ultimately you still need some kind of wallet to use the bitcoin network, you just don't need it to store your bitcoins. Hardware wallets like trezor and such are meant for people who want secure storage while still using their bitcoins and doing transactions regularly. Storing on paper and deleting your digital wallet every day is totally impractical, but if you want to buy some coins and forget about them for a month or more, then it's a very cheap and extremely secure solution. Provided you follow the proper steps to create a paper wallet and erase all digital traces, your bitcoins are essentially unhackable, since the only way to steal them would be to figure out your private key, which would take more than the lifetime of our universe with modern hardware.