BTC

Neat-Bodybuilder1670

Why did they choose to reactivate these accounts at this time? If it's to cash out BTC, then it's clearly not the right time. So what is their purpose?

Meto_Kaiba

I once heard that things usually click after 100 hours total of reading/listening to things related to the Bitcoin network. I recommend The Bitcoin Standard by Saifedean Ammous as one way to get answers to your questions, but it's not an easy read in my experience. For me, it's looking like 1000 hours might be enough to sate my curiosity, but it's still not enough to confidently answer anything about the protocol with certainty. That being said, because you put some bullet points up, I will answer each question to the best of my knowledge since I'm not in school anymore and I want to give it a shot, even if I'm wrong - on *reddit* (insert shocked face emoji here). a) It's stored either on an exchange like Kraken or Bitbuy and/or a cold storage wallet like Trezor or Ledger. Or Bitcoin Core. I'm not certain. b) An electrical signal is sent from the impedence detector in your phone or other electronic device to the Bitcoin network and the blocks rearrange. c) This question can be answered by googling the double-spend problem, I think. The network is verified by its decentralization (you don't have to trust one entity in particular). d) Sometimes I do. Sometimes someone else on planet Earth can as well, but it's incredibly unlikely that I specifically looked at your 0.05 BTC transaction. e) Eh. The price in USD is one thing that changes. f) It stays within the 21 million maximum Bitcoins that will ever be mined. Your 0.05 is a fraction of the 21 million hardcap, which is key to understanding why Bitcoin has any monetary value at all to anyone. Your wallet represents your personal wealth. Also, nothing private about this reply. It may also be mostly wrong; I'm not a teacher.

Interesting_Loss_907

If there were a buyer (or group of buyers) ready to buy such a large volume of BTC at the current market price at the moment the billionaire wants to sell, then sure, it offsets & is neutral. But that would be an unusual coincidence for such a large volume of coins. So if an enormous volume were suddenly available for sale and they were not enough buyers to take it up at the current market price, it would create a temporary dip in the market price to attract new buyers to continue taking up the difference in the available supply. (the market would of course recover once the supply is sold off, assuming demand overall continues as it was before).

PatrickL23

Screenshoting these 'BTCB2 is a scam' posts for posterity. Ya'll might want to do some actual reading about what orig BTC has been turned into and is allowing on chain. And why BTCB2 was created. While Bitcoin Blake2b is a big risk, it carries the last hope of getting off USS Shitcoin Titanic that orig Bitcoin has become. A lot of big money went into torpedoing Bitcoin, and the same is being directed toward discrediting BTCB2. The one rule that never changes is that you can have opportunity or certainly, but never both. And the path toward opportunity is never visible while standing in a crowd.

Horror-Landscape8592

Borrow against it and keep the stack, that = zero tax liability, then borrow again to service the debt meanwhile BTC keeps growing. ???, Profit. Never pay tax if you can help it

Squeiner

Let me take a crack at it, tell me how i did: ● Where is my Bitcoin actually stored before I send it? Its not stored anywhere in particular. It exists inside every node, as a ledger entry on the blockchain. My node (as well as every other node) contains the data of all blocks on the chain, and one of those blocks has a transaction in it that says "address 'A' has 0.1 BTC". If you have the private keys for address 'A', that's your btc. What you're actually storing is a private key. ● What exactly happens when I press “send”? When you press send, your wallet app writes a message that says "move 0.05 BTC from address 'A' to address 'B'. Here is the private key signature for address 'A'." Then it sends that message to every node that it's connected to. Every node that receives it, checks it first to ensure the coins had not been moved before from address A, and that the private key is the correct one, and if everything checks out, it sends the transaction to every other node it's connected to. This is how transactions propagate thru the network.  ● How does the network know that I’m allowed to spend it? Each node verifies that the signature was done with the correct private key as soon as it receives the transaction. ● Who checks that the transaction is legitimate? Each node verifies that the transaction is legitimate as soon as it receives the transaction.  ● What actually changes on the blockchain? Once a lot of nodes have received your transaction, the bitcoin miners will take that transaction and try to include it into a block. As soon as they do, a new block comes out and is sent to all the nodes in the same way as your transaction propagated. Each node then verifies every single transaction and signature inside that block, as well as the proof of work, before adding it to the tip of their own copy of the blockchain, and passing it on to every other node they're connected to. Now, every node has a copy of the chain that has a block with your transaction in it, which says "Address 'A' sent 0.05 BTC to address 'B'." ● And where does the 0.05 BTC “go” afterwards? It doesn't go anywhere in particular. But those 0.05 coins can no longer be spent by using the private keys for address 'A'. They can now only be spent by using the private keys for address 'B'. Your wallet balance represents all the coins on the chain which can be moved by using your private keys. Your wallet app scans the entire blockchain and identifies all the coins in addresses that your keys can unlock. 

Survivaleast

Using social media and influencers as trusted ‘advisors’ to influence your positions. There is ETH and there is BTC. Anyone else is trying to offload their bags to become your new losses.

basketbun

Depends on your conviction. Some people believe BTC is the only answer and will never sell and only hold BTC, others like yourself hold a small percentage of your portfolio, and there's all kinds in between. So there really isn't an answer. But I would guess most do not sell to rebalance, they watch the ups and downs, that's generally what happens with independent retail investors historically

LevelStationaryPlane

I’ve made more money this year in just SP500, than I have for the last 5 holding BTC no wonder people aren’t taking this shit seriously, nor should they. You guys are textbook financial and economic Dunning-Kruger maxis.

LevelStationaryPlane

I sold all my BTC last year and dumped it in the S&P500 and have cleared more in one year than I ever made w BTC lmfao.

Lavayo

I'm only talking about BTC here. Nobody owns half of the coins. Motives of the initial creator are irrelevant if every 0 and 1 of the protocol is maintained by the BTC community.

Lavayo

No. BTC is the protocol. It's open. Who wrote it initially is of historical significance at best.

alko89

My mom has almost 0.5 BTC **🙈**

JimmySki6166

Only 21 million BTC will ever be produced. Each time a transaction happens on the BTC network, and minuscule amount is burned up. Many BTC are added to a country’s federal reserve for store of wealth as many small companies and individuals. 21 million is not a high # in terms of units, compared to other cryptocurrencies or stocks. BTC is the best asset you can hold for long term!!

vRud

No, I just wait for BTC to crash again. Then the allocation is not a problem anymore

No_Refrigerator1677

For sure, going through an OTC desk could help avoid those wild price swings. It's a smart move when dealing with that much BTC.

Top-Care-8946

I think that everyone uses cards just because it's most common way to pay without need to withdraw money from ATM. However fees to cover payments are paying merchants who are renting terminals from banks themselves. There is also a monthly pay for card holders to cover banking system maintenance cost at bank sides (banking infrastructure). BTC has "networking" as transaction confirmation fee but it's not the same as fees for CC transactions. It's more like money transfer fee to move funds from one account to another. If BTC transactions could be confirmed in seconds like CC transactions then it would be much more widely used. Another thing is that BTC needs to be converted into fiat because goods values are still expressed in traditional fiat (it's hard to calculate cost in small fractions like value in BTC is mostly expressed due to it's high price.

Ashistrash121

Depends on who you ask. I have seen people compare BTC to the second coming of Jesus, but now they are saying the same thing about AI.

faded_VOYAGE

"Bitcoin will overtake Bitcoin at 1 BTC" is unkillable logic, no notes

fffatalfame9

Narrative. ZEC = BTC with privacy option and same max supply cap. XMR = crime coin with no supply cap. This is one explanation for the different price trajectories, at least.

maxglan123

Me have 15 BTC in from Thailand

geromeo

youth love to complain about boomers who bought houses at 50-100k and made millions. But the story not told is more than not didn't buy those houses back in the day, because they were narrow sighted and didn't believe it was a good investment. Today, when btc is 50-100k, people ask if they too late, or worry about the short term because they cant imagine it can be millions one day. I believe it will be Some people bought as many houses as they could. Some people buy as many BTC as they can.

Secure-Jelly-3802

The variety of use case is what makes it interesting. It's not just about buying online or using it for tech related things anymore. Seeing people use BTC for normal services and everyday purchases shows how adoption can grow naturally.

Secure-Jelly-3802

I think this is one of the biggest steps for Bitcoin becoming more practical. Holding BTC is easy, but giving people simple ways to actually use it for everyday things is what will drive real adoption.

Creepy-Key-2294

how do you square the high price of S&P relative to the discount of BTC is trading at now when allocating percentage of purchases

MarioWilson122

Buying at the very top, selling at the very bottom, and listening to influencers or celebrities about which coins other than BTC to buy. Those are probably three of the easiest ways for a beginner to get wrecked.

KettleDescalingMoFo

It’s never too late. Same for me. I heard about Bitcoin loads in the last decade, but scoffed when I heard people talk about “mining”. My low IQ brain could only attribute mining to real world physical mining. My bad. My thinking about the world changed during Convid and then BTC came back to me in 2023. I started reading The Bitcoin Standard and then started buying in 2024. I missed the pre-ETF prices, but hey ho, you get the price you deserve 😆 Best of luck and make sure you do plenty of research. That’s how you build your conviction on this incredible asset.

SamLeCoyote_Fix_1

I support AMC, let'st boycott HOOD, this is insane !!! About BTC: Benjamin Cowen, founder of Into The Cryptoverse, says there is a 65% chance Bitcoin's (BTC) cycle low still lies ahead. That keeps his bear market thesis alive despite a sharp summer rally. Cowen made the comment in a video interview. He pointed to Bitcoin's realized price near $53,000 as the level bears still need to test before calling the bottom.

Michael-Ryder

The simplest mental model is: your wallet doesn’t actually hold BTC, it holds the keys that let you spend BTC recorded on the network. When you hit send, the wallet creates and signs a transaction, nodes check that the signature and rules are valid, and miners eventually include it in a block. Any leftover amount comes back to you as change. Once that part clicks, the rest starts making a lot more sense.

chainglance_cm

Since you posted the question on every sub, I'll go ahead copy-paste the answer on every post lol... Your wallet doesn't actually hold coins, it holds a list of "chunks" scattered across the blockchain that are locked to your key (these are called UTXOs). Your balance is just your wallet app adding up all the chunks it can see are yours. Say you've got one chunk worth 0.1 BTC, kind of like having a single $100 bill in a drawer with no smaller bills. You can't tear it in half to send someone $50. Instead your wallet spends the whole $100 bill and creates two new ones: 0.05 to your friend, and the leftover (minus a tiny fee) that comes right back to you as change, usually to a fresh address you also control. When you hit send, your wallet is basically writing a note that says "I'm spending this specific chunk, here's my signature proving I own it, and here's where the pieces go now." Anyone on the network can check that signature against your public key without ever seeing your private key. Miners grab a batch of these notes, make sure none of them are trying to spend a chunk that's already been used somewhere else, and lock the whole batch into a block. Once that block gets added, the old chunk is marked spent forever and the two new chunks officially exist on the chain, one sitting at your friend's address and one sitting back at yours. So "where does the 0.05 go" is honestly a great question, and the answer is it just becomes a brand new chunk of bitcoin that now belongs to someone else's key. Nothing physically moves, ownership just gets reassigned on a ledger that thousands of computers keep an identical copy of.

chainglance_cm

Ok the cash-in-a-drawer analogy is what made this click for me, so here goes. Your wallet doesn't actually hold coins, it holds a list of "chunks" scattered across the blockchain that are locked to your key (these are called UTXOs). Your balance is just your wallet app adding up all the chunks it can see are yours. Say you've got one chunk worth 0.1 BTC, kind of like having a single $100 bill in a drawer with no smaller bills. You can't tear it in half to send someone $50. Instead your wallet spends the whole $100 bill and creates two new ones: 0.05 to your friend, and the leftover (minus a tiny fee) that comes right back to you as change, usually to a fresh address you also control. When you hit send, your wallet is basically writing a note that says "I'm spending this specific chunk, here's my signature proving I own it, and here's where the pieces go now." Anyone on the network can check that signature against your public key without ever seeing your private key. Miners grab a batch of these notes, make sure none of them are trying to spend a chunk that's already been used somewhere else, and lock the whole batch into a block. Once that block gets added, the old chunk is marked spent forever and the two new chunks officially exist on the chain, one sitting at your friend's address and one sitting back at yours. So "where does the 0.05 go" is honestly a great question, and the answer is it just becomes a brand new chunk of bitcoin that now belongs to someone else's key. Nothing physically moves, ownership just gets reassigned on a ledger that thousands of computers keep an identical copy of.

anon1971wtf

> Where is my Bitcoin actually stored before I send it? It's not really stored anywhere. It's mathematics. Wallets are software that creates keypairs. Recent Coldcard hack is example of bugs or inside attack in this regard. Keypair is pair of long numbers - one must stay private, second is exposed, deterministically modified into a Bitcoin address > What exactly happens when I press “send”? Depends where "Send" button is located. If it's in the wallet like Electrum - you are shown transaction template, you sign it with key of coins to spend, then you broadcast transaction to server your wallet is connected to, server broadcasts it to miners, miners mine it to next block. Then, on exchanges, in block explorers you will see your transaction as confirmed. If you are sending it to a friend, no confirmations is good enough for small sums in equiavalent dollars. Couple confirmations for serious purchases Best way currently to manage private keys is to generate seed phrase. 12 random words from special dictionary, BIP-39 standart. From them wallet can deterministically have indefinite list of keypairs and addresses > How does the network know that I’m allowed to spend it? > Who checks that the transaction is legitimate? Wallet provides UI that prevent overflow mistakes in manually typing bigger sums than you have, and other mistakes of such kind Then, miners are mining blocks on top of all previous blocks, they amount to all history that confirms that your address has same amount of coins you are spending. Usually it goes like: your address A -> 2nd party address B + you change address C (technical term is UTXO) > What actually changes on the blockchain? Next block will have your transaction and miners will have updates to balances of all addresses, including all of yours > And where does the 0.05 BTC “go” afterwards? To your change address

TheresNoSecondBest

>5% to BTC PoW Lab. That is a massive pool fee. Fuhgeddaboudit! 🤌

G_Zeus_Kryst

Okay, I think I’m starting to get it now. The part I’m still confused about is the “unspent output” itself. So if the blockchain is basically keeping track of these outputs rather than actual coins moving around, what exactly makes an output belong to *me* in the first place? Like, when I receive that 0.05 BTC, is my wallet basically just finding an output on the blockchain that says it can only be spent with my private key? And if so, how does the network know that the address I’m sending it to is connected to the other person’s private key? Sorry if I’m going backwards here 😂 I feel like I understand 80% of what you explained and then get stuck on one tiny detail.

SimpleHeadcount

It clicks way easier if you stop picturing coins moving around at all. Your wallet doesn't hold bitcoin, it holds the private key that lets you unlock a specific unspent output on the blockchain. So that 0.1 BTC isn't sitting in a file on your phone, it's just a ledger entry pointing at your address that your key can sign for. When you hit send, your wallet crafts a message that says "unlock this 0.1 entry, send 0.05 to her address, and send the other 0.05 back to a new address I control as change." Your private key signs that message, nodes verify the signature is legit and that you haven't already spent that output, then miners race to cram it into a block. The blockchain just updates the pointers, your old output gets marked spent and two fresh outputs appear. Her wallet now has a key that can unlock that 0.05, and your change output sits there waiting for you.

Phoenix-Ash96

Fair on the economics, and I'll take the correction on scale. But 3,200 BTC is the largest single P2PK address, not the target. Satoshi-era coins are spread over thousands of them, roughly a million BTC in aggregate, and one machine cracks them sequentially. That's a different sum. Agree the business case is still weak though. Nobody builds a $50bn machine for this, and if you have one, there are better things to point it at. My argument was that the exposure is real, not that someone's coming for it tomorrow.

ArugulaPotential366

Just asking because Ive heard people say buying property isnt much of an investment and would rather just hold BTC. I'm still trying to make my mind up about property but I'm no where near being able to afford any property. I'm just investing and stacking aggressively

snatchdaddy69

So you’re saying sell all my SOL for BTC? Haha, just feel like not enough capital to make significant gains. If I could afford a few BTC, then I’m all for it but holding .2 BTC just doesn’t seem like enough gains for my risk tolerance. Maybe I’m cooked though

crazybird-thereal

The worst mistake is start trading (like daily trading). Except for BTC or ETH and maybe some solid project, everything else will just make someone else than you richer. For now the best start is use BTC as investement for future. You put your money on it once or DCA, then you forget about it, you wait long long time, and profit.

ZannyNanny23

Yea sure I know I'm crazy I have herd it. But the ripple bank is gonna use the DNA code we have and make it a type of access to use it money and it's gonna turn into the ability to spend money it will require ur blood info to be in cyber space it's a kinda spell to bind ur soul to a data center.. and most people will have no choice because BTC will be so much and xrp will be alot at this time and every one will have so much invested online and all there info and value will be in this signature.. that's what I got I didn't say soon it went be till after 2030 or 2032

DangerHighVoltage111

And why did they do that? Because Bitcoin abandoned its promise. Everyone with more than 2 braincells knew this was the end of BTC as p2p cash. Take ETH for example. It only became its own coin because Core refused to add functionality to Bitcoin. Yet, programmability was already built in by Satoshi, yet core refused to develop it.

quintavious_danilo

The truth is that every other coin besides BTC is going to vanish sooner or later. Cosmos just did you a solid and vanished instantly, saving you from sleepless nights and years of hopeless bag holding. Be grateful it happened like this.

Bilatsibagya

Proof of wealth/ownership from where it came from even transferring that BTC to cex will be flagged. They need history papers.

unusual-fire

Isn't broader bitcoin a huge competition for BTC as development has stalled?

Billkr

My question is why would you swap BTC to some shitcoin?

lordsepulchrave123

They will still be hunted for what they kept though. I don't see the point, either return it all or keep it all. Maybe they're concerned about destabilizing the BTC price.

Pretend-Olive-5497

We may even go to November or year end like this Everytime it gone up it’s been a bull trap A whale just opened a $40mm short on BTC with 20x leverage he will make a fortune

Pretend-Olive-5497

Bitcoin will liquidate everyone on the way to the bottom Institutions will force it to go lower so they can buy at a good bottom The ETFs and weak hands will panic sell at the bottom typical of BTC capitulation to end a bear market which we are still in

Pretend-Olive-5497

What about 53k the BTC realized price Plus we did not go above the 50ma just tagged it

Prior_Parsley3960

Bloomberg summary (paid article) * **What happened:** About **4,000 BTC (\~$320 million)** was withdrawn from the **Liquid Network's** federation wallet—roughly **95% of its Bitcoin reserves**. Liquid halted new transactions while investigating. * **What Liquid is:** It's a **Bitcoin sidechain** created by Blockstream for faster settlement. Users effectively lock real BTC and receive **L-BTC** representing it on Liquid. Major crypto firms participate in its federation. * **How the attack appears to have worked:** The BTC exited through **SideSwap's authorized peg-out mechanism**. Liquid says the authorization key itself wasn't compromised. Preliminary analysis instead points toward a software/validation flaw that may have allowed illegitimate L-BTC to be created and then redeemed for genuine BTC. * **Important twist:** The attackers claim to be **white hats** and have indicated on-chain that most BTC will be returned after the vulnerability is patched. As of the latest reporting, the coins remained at the receiving address—so the final financial loss could ultimately be dramatically smaller than $320 million. * **Bitcoin distinction:** There is currently **no indication Bitcoin's blockchain, mining or cryptography was compromised**. The vulnerability appears to be in infrastructure built *around* Bitcoin—another example of bridges, sidechains and custodial/validation systems being much weaker security points than the underlying blockchain.

mchotdograp

You can't live a decent life without cashing out your BTC?

Romanizer

State actors would cut in their own flesh, as those capable of it hold the most Bitcoin. I mean, it doesn't need to be proven. Shorter keys have already be cracked with that algorithm. It does work. The challenge is to build a QC with enough qubits that are error-free for at least a day. Very questionable if that ever happens. However, the roadmaps in best case are somewhere around ~$50 billion for one actor, a multiple of that for the whole industry. The largest wallet with a P2PK address holds about ~3,200 BTC, which today is worth $256 million. Short trade may be good, if you are able to make the market panic. For a 3,200 BTC sale to move the market, you would probably have to choose a slow Sunday. And still you would be able to also crack governmental and military secrets, so you would have to assure to other governments that all you are doing is crack an old Bitcoin wallet instead of doing real revenue. I don't see it at all (coming from an expert for monetization and business models).

theenecros

If they have 100 BTC, they wouldn't sell. Likely they could borrow against some of it if they needed cash

2muchmonehandass

How much BTC does glxy hold

Pretend-Olive-5497

Institutions will dump BTC to buy low at the bottom while weak hands and ETFs will panic sell at the new bottom Every 4 yrs same thing

EpicSource

Someone into BTC that early is even less likely to want to be paying taxes than a random Joe

Fluffy_Bad_8021

So BTC itself has not been exploited, but a derivative software Liquid BTC has been ?

redspikedog

Every week since the first little spike in BTC history we get this question XD XD XD so funny

Blackfish69

came to a BTC forum to rationalize selling… give me a break dude. You’re 28 with a windfall and just thinking how much should i spend now. smh

killamasta

Jesus looking at your history posts and it’s always asking how to make a ton of money fast. Get a job and learn how to invest. If anyone knew a glitch they sure as hell wouldn’t tell you. Just buy BTC or ETFs and forget about it for years. It’s not hard, you’re just poor and impatient.

drawkbox

> take a few hundred BTC from old, dormant presumably dead wallet addresses that aren't famous Exactly, plausible deniability and they would have the most value so it would be less total BTC needed to score big

mymongoose

I’ve been back and forth, I made a decent amount in 2017/18, kept some of it, then made an even bigger sum in 2021 but round tripped it all - now just DCAing and waiting for the next bull run - this time I need to learn to press the red button 😂 I started with BTC and would have been better off just holding it - instead I rotated into alts and yeah they go up faster but they also go down faster Now? BTC isn’t going to make anyone rich unless they’re rich already. It’ll outpace inflation no worries, but if you want “life changing money” it’s gonna have to come from altcoins I’m afraid - just remember to sell 🙈

Whiskeymiller

DCA blue chip cryptos, BTC heavy and just hodl

Worldx22

Stay away from trading and courses. The money glitch? Start 10 years ago buy BTC and hold on for dear life.

Hanley_Studson

I paid for a guided fishing trip, pest control, I buy soap and honey and you can also buy peony lane wine all directly with BTC. Adoption is growing. Keep the DCA on and be patient. Soon it'll be accepted everywhere.

billybobbybrownbaby

Getting out of the game during your first bear. keep learning and most importantly keep stacking BTC and maybe an alt or 2 of your choice. you second cycle you’ll print.

Abject-Issue-6639

Cry more about BTC memes for me. Big boy. 🤣

MooseLoot

Why sell? At that scale, you take loans against it for money you need and just buy some puts on the ETFs. It’s not like a person with 100K BTC actually needs the money right now. The darker thing they could do is sell like 100 or so and then buy puts on the ETFs and then sell as much as possible through as many exchanges as possible and rake in the put money.

Blissful-Sisyphus

I guess im just not a true believer in BTC lol. I would leave 20% in or make it between 8 and 12% of my entire portfolio which is a large position. If BTC hits 500K I just couldn't help but cash out a large chunk of it so I finally have "fuck you money".

Legitimate_Cry_5194

I'm a BTC maxi since quite a few years back. If i was forced to buy some alts they'd be ETH, SOL, HYPE, ZCASH, AAVE, BNB and LINK.

Much-Dealer3525

Cuts both ways though, you can also lose all your BTC to a nerd in his moms basement. Even if you stored it in a cold wallet.

MrMoo151515

It’s never too late to get into BTC. Of course everyone wishes they had an earlier entry point but there’s no use dwelling on it. I had a coworker back in 2012 that spoke about Bitcoin damn near every day and how the government was stealing all of our money. I thought the dude was a fucking wack job lol. Apparently I was the wack job

stheodore1974

People who think they missed out lack perspective of the investor mindset. Although it’s true you may not get a 1000% return anymore in any reasonable time horizon, the fundamentals have never been better as a place to put your money as one type of investment vehicle for you. If you have even 5-10 years to let your BTC sit, I’d call it a safe investment

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AdOk1101

Crypto currencies are nothing more then TCP/IP based application network protocols. Most crypto currencies have limited/obsolete technical features, including BTC. A number of crypto currencies are used in other countries as forms of day-to-day payment. It's not really like that in the US right now due to political and public bullshit. So for US use of crypto, it's primarily speculative investment. Crypto trading is basically a contemporary form of Forex trading. That being said, I know Switzerland recently introduced ADA for direct retail integration. There are also crypto debit type payment cards allowing for payment via crypto.

ArtichokeOwn6685

Buying anything but BTC

moviemaker2

>obviously you cant just chuck it onto a few exchanges I mean, of course you can. That's literally the entire reason exchanges exist. for 100k of BTC I wouldn't even bother with multiple exchanges.

LNCrizzo

So if this is a negotiated bounty does that suddenly make the 600 BTC legit and the hacker can cash out without any legal repercussions?

Flopdo

Cracked quantum? Quantum is a future computing power that can be used to crack BTC encryption (not saying it will). You don't "crack quantum," though. :)

unknowngloomth

No shit Sherlocks. Every crypto has no value proposition BTC included.

Interesting_Loss_907

In that case, OP is referring to somebody with many billions of dollars worth of BTC. A multi billionaire like that would certainly have white glove support from major exchanges. But no one would be able to sell off that amount immediately without an effect on the market price. It would probably have to be spread across several days or even more than a week in order to offload an amount like that, and would probably lead to a dip in the market price for a bit.

Interesting_Loss_907

I’ve sold off a healthy six figures worth of BTC & some alt-coins during the past 5 years & never had any problems at all like you’re describing. using the advanced setting on the app reduces the fees quite a bit. But help us out with a better suggestion if you have one: which major, regulated and trustworthy exchanges provide the service of letting you sell off your coins and charge significantly less than 1% for that service?

Unlisted_User69420

This is a great answer, the right mindset. For my BTC is long term, generational for my heirs. 401k, stocks and Social Security (assuming it still exists) will cover my retirement

Steel-Tempered

100K BTC is $7.92 billion USD at the moment. You'd want to stick to a legit, known exchange, and check to see if they have payout limits. You probably can't cash it all out at once.

Cristian_Cerv9

I wouldn’t. I would just cash out .05 BTC every 30 days and live forever lol

Stryker406

I have some of my BTC at Fidelity. Zero issues. Having the ability to buy actual BTC in a rollover IRA is also a huge plus. Would recommend

JimmySki6166

Will only ever have 21 million coins produced. Only one million more to be produced in the next few years. Driven by its strict scarcity, decentralized security and is digital currency. Governments globally are purchasing for their federal reserves. You don’t see other assets priced like BTC?

ObviousEconomist

Eth is a product like Amazon. It has competitors, it is subject to deflationary pressures due to AI, and as more tradfi companies go on chain it may become less influential.  BTC has no real competitor in crypto. I actually think BTC is a more sure bet long term

cheif042888

May as well get out and secure the cash. You invested well. BTC is useless.

Top-Care-8946

Currently yes BTC is very affected by manipulation but I think that if traditional fiat system is collapsing then trust in crypto, including BTC will rise up. I would like to see BTC as "digital gold" but yet it's still highly volatile meanwhile real gold bar price is mostly stable then there's much to do until BTC reaches same level. Because gold never loses it's value (it might tend to fluctuate but never as much as BTC currently does). I don't know how other people feel but I would prefer to see BTC more harder and more stable. And there's other fact that makes BTC hard to speed up as payment option: Mass transactions like credit card/debit card transactions are done much more faster than BTC transactions are confirmed, so if this obstacle could be resolved then there might be much more easier to use BTC just like a payment for coffee and donut in bar. There's no worldwide system like Visa/Mastercard card systems for BTC. Yes, BTC is running on it's own network but it's still too slow. Because if today all started to pay in BTC then there would be huge bottleneck very hard to resolve.

TheresNoSecondBest

>A typo isn't limited to one character being wrong it could also be the wrong address, or worse yet a scammer put in their adresss. When somebody's "going to send millions" in BTC, they're making sure it's the correct address by **sending a test transaction.** They're also signing the broadcasted transaction offline in an **air-gapped environment**. Nobody's sending millions from their hot wallet on a windows laptop or a mobile phone. >With gold no one is going to send millions in gold by accident to Hyderabad when they were intending to send it to the federal reserve The same goes for sending millions in bitcoin. Dealing with large sums means more secure setup and execution. Except for gold, you have to use trusted third party, while for bitcoin, no third party is necessary.

theincognito66

Don't beat yourself up too much. I, too, had substantial profits in 2020-2021 - but, none of us really knew that Crypto Winter was going to hit so hard. I watched $5k balloon to $40k and I didn't take any profits... "it's not life-changing money", I said. I kept DCA'ing BTC throughout 2021-2024. Just restarted $15/day back in June of this year. Stay positive - once FOMO really hits hard before the end of the year, we'll be flying high.

JimmySki6166

Best investment one can make right now!! I’ve been purchasing BTC weekly since 2018

Icy_Giraffe_21

I've personally seen +3500 BTC move in one shot through my node. Literally crazy, at the time it was worth like 450 million

wentwj

No it wouldn't. We're on a post right now where exactly what you'd see is what happened, and no one is freaking out. If I could crack any wallet I'd do transactions exactly like this. take a few hundred BTC from old, dormant presumably dead wallet addresses that aren't famous. You'd want to touch as few wallet addresses as possible to reduce the chance of hitting a dormant but not lost one, so taking from related wallets and cash out a few hundred BTC at a time. Touching any famous wallet would be the absolute worst strategy.

MelangeBot

>Taking a sizable but small chunk from long dormant non-satoshi wallets is probably the best first step. No this would alarm people. You would start with some very famous addresses around the MtGox hack. There is this 1Fee address where the priv keys have been lost and there is like 17000 BTC on it. When that moves people won't say "OMG QUANTUM HACK" they would say "SOMEBODY FOUND THE KEY AGAIN!" or "THE KEY WAS NEVER LOST SOMEBODY MADE A COPY" then you would focus on wallets that got dormand between 2017 and 2020. Then you would do dormant wallets since 2015. Once you have cashed out as many million of dollars slowly and covertly and you got it all in hard currency that's when you rob the first addresses and let people know you are quantum brute forcing.

SuitApprehensive3240

I'd do it.. out of 5k maybe  2k ... The rest BTC.... 2k is like 2 weeks of work ....or 4 for 15$ hour... 

Traditional_Most105

Yes but until something new might appear... like when a lot of jobs were replaced by machines, like when internet replaced lots of things like news, like ai editing replacing basic photoshop skills... BTC and crypto could be replaced by a technology we dont know about or it might co exist with it... or what you just assumed... But the world is changing fast with ai and each cycle something different happens... so history might repeat itself or it might change...

P0werFighter

I would avoid Coinbase at all costs even for 0.0001 BTC.

poop-dolla

Do you also complain when your lobster is too buttery or your steak is too juicy? Sorry you bought BTC in your home currency, had it go up a ton in value, and then sold it back to your home currency and have to pay some portion of the gains in taxes. That’s so rough.