BTC

saydonem

Maybe a stupid question, but if one find an address with BTC on, what to do with it? I’m new btw lol

Ferdo306

It wasn't shilled in here dude but in btc sub. I would presume it was a 3rd most popular wallet for BTC holders I do agree with certain parts but you coming in here as a 'victor' after the battle is over is off putting Why didn't you post this before the hack? What if the closed sourced Ledger Recover becomes a backdoor in few years Will we shame everyone who suggested Ledger?

PocketVariance

I mean it’d probably be super difficult to prove that you were the original key owner considering that the keys can all be replicated now. Doubt return of funds would even be logistically possible even if all the BTC were recovered

Lavayo

Possible but not necessarily, esp BTC. What it will do to your random small to mag7 business and bank is practically guaranteed.

Ferdo306

So when the 'morons' were suggesting it, I presume you were here warning others that there's a bug and that it isn't safe? And if in the future similar happens to Ledger or Trezor, you will come here and say that you were a moron for suggesting them? Everything is safe until it isn't And it wasn't really suggested here but in BTC sub as it's BTC only wallet. So that party the reason why it was suggested

ParteDelTodo

I had a 1 BTC coined bit when I was 16ish (15ish years ago). Kept it in my pocket. I liked skateboarding and bmx. One day I went outside with it and haven't seen it since.

ProperSyllabub8798

BTC is dead. There is no Safeway to hold your coins. Get out before the whales like MSTR crowd the exit

ubermensch1001

Tradfi and other players looking to offer BTC products to the general public are absolutely loving this hack. Not saying they were/are actively involved, but it's weird timing when they are still debating the clarity act.

Sonizzle

You download it, and it’s your BTC stolen.

Scarab702

Better to learn the lesson now than later when you have 1 BTC and could possibly do the same thing. You know now what not to do so don't screw this up again. Onwards.

00MacDonald

It took over 10 years to nail the bitfinex guys and they only did so after thousands of stupid mistakes on their part and when the funds were worth in the millions. And they still got only 60 months in jail. The BTC has yet to be returned to bitfinex. If this guys learned anything, they should be good for a few decades, if not ever.

ubermensch1001

I'm sure something is going to occur with this case, it's way too early to tell. While the loss of BTC is trivial compared to what we saw with the crypto lending space in 2022, the major implications are that it's making crypto holders seriously question the security of their cold wallets. Crazy to think that there's a moron who openly admitted to recommending Cold Cards to other posters trolling on this very thread lol.

fan_of_hakiksexydays

If you're patient, it might even drop below $1K this cycle. If the bear market is anything like the the past ones, and as brutal to alt coins as it usually is. But let's not get ahead of ourselves. We'd have to see if there's gonna be a retest of $1,500 first. But with BTC still in longer term trend down this year, and the rallies still getting lower highs, and now even this recent rally starting to trend back down, that retest might be in the cards again.

GoldmezAddams

No. With proper entropy, the amount of possibilities is simply too big. The whole problem was that CC's lack of entropy created a very limited search space. The odds of a non-Coldcard producing anything within that search space are astronomically low simply because of the amount of possible options. With proper entropy, there are roughly 2^256 options. That's 115,792,089,237,316,195,423,570,985,008,687,907,853,269,984,665,640,564,039,457,584,007,913,129,639,936 options. The Coldcard Mk3 search space is around 2^40 or 1,099,511,627,776 options. Compared to 2^256, that number might as well be 1. For some context on 256 bit security, in 25 years, not a *single* SHA-256 collision has *ever* been found, even with the BTC network currently calculating around a sextillion hashes per second.

LazyLifeguard

They didn't know it. They generated ever every possible weak seed caused by the bug. If an address held BTC they already had the privat key, this part is pretty straight foward. You just looking for an adress matching the weak seeds. Benefits of the open blockchain goes both ways here, transparency comes at a cost. Tough situation.

azdcaz

Trump Is the worst thing to happen to crypto and BTC.

corner_couch

As much as bitcoiners hate VC and everything big tech and surveillance etc. Something like a \*hardware wallet\* - or really anything hardware related - you should really consider the quality and financing of the company backing it, the size of company, reputation, and so on. 100% open source is a good ideal but then you need an active community with a lot of support (like BTC itself) and the people able to audit hardware / firmware for free is much smaller than pure software. Lessons learned here for the community

Pretty-Lime-6668

The hack might of been orchestrated by the BTC etfs because now the safest way to have BTC exposure would be through those ETFs

Newbie123plzhelp

Yes bro, BTC is a visa replacement, you got it

moviemaker2

>You had this garbage wallet that drained a number of addresses that is MINISCULE compared to the total number of addresses with $100+ worth of BTC in self custody. This is where your entire thing falls apart. *No one knew* this was a garbage wallet until last week. The reason this was one of the top 3 recommended wallets here and in other BTC spaces is because it was the consensus that it actually was one of the the top 3 most secure wallets. The coldcard was the first to offer user-inputted real world entropy via dice rolls. Some of the other top brands still don't have that feature. The fact that you consider Ledger a reliable wallet because it has a high number of sales, says everything we need to know about your level of knowledge on this topic. (Never buy a Ledger, never take any advice from someone who tells you to buy a Ledger)

ContentBlackberry0

And people continue to send BTC to the thief 😂

DizzyHoliday

I’m waiting til it gets down to the 50’s but there is literally never a bad time to buy BTC

TexFarmer

Please tell us all how BTC has NO liability, use that thing between your ears for something other than a hat rack!

Opening-Length-4244

In person BTC transfers surely ? Small amounts over time would be the only way I’d imagine

JimmySki6166

Moomoo is a great investing app for stocks & crypto! I’ve had nothing but positive, great customer service, who speak English and know what they are talking about! And it’s federally regulated and insured! You can hold BTC safely on there as well!!

ptrnyc

Not without giving up anonymity. The blockchain has the history of how the BTC arrived into the wallet in the first place. For people who bought on an exchange and moved it to ColdCard, they should be able to prove they are the legit owners of the wallet.

Glad_Leadership_3671

Go to [https://switcher.finance](https://switcher.finance/) Select USDT > BTC, directly via browser in-app, these are the best rates as it's an aggregator.

Mysterious-Sir3071

Im 80% Crcl Purr (hyperliquid) etf BTC CANTON INJ ICP STX

TCr0wn

Stable coins are a garaunteed loss year over year (inflation) and are not decentralized/fully under an ai agents control. Ai agents wouldn’t likely care about drawdowns like we’ve seen on BTC as they don’t have emotions and don’t need to eat/pay bills etc. The whole concept is pretty much fiction at the moment. But there is some logical connection w BTC and Ai agents in the future

Financial_Clue_2534

Dollar isn’t stable just look at the inflation rate. The reason they will hold BTC is due to security and scarcity. The 50% drop you referring to is small than the prior drops us Bitcoiners have experienced. As time progresses these drops will decrease overtime.

Good_Extension_9642

And that's the reason I ONLY by BTC ETF since their inception

Deep_Decision4441

I can't imagine ever wanting AI to touch my BTC. Banks already have APIs. I'm a btc maximalist but this is pure fantasy to expect.

sunflowersaint

BTC is always cruising until it isn't.

Cannister7

The concept that somebody would steal my vulnerable BTC, which hadn't already been stolen by the hacker, to then, what?, say "Hey, I was only looking after it for you, here you go" How would they knew where to send it back to? How would I know that it was taken by someone benevolent? What if I heard about the hacks and went to move my stash, only to find it had already gone? I'm just confused by the logistics and the idea that someone would bother to do that.

BitZk

It surprises me that people still don’t know how Bitcoin works. The security of your wallet is based on the entropy provided by the user themselves. You do a lazy setup, it doesn’t matter that your keys never touched the internet. Your private key is an extremely large number. Any person or machine can guess your number, the security is in providing an extremely hard number to guess. If you don’t provide a hard number to guess, then you are asking to have your funds taken by an actor that can guess your number. If you don’t have a lot of BTC, lower security is ok because if you lose your money, you didn’t lose too much. If you put you life savings in a single wallet, with no real effort providing entropy to try to generate a really hard to guess number, then you are a fool who didn’t lean a damn thing about this tech before putting your life savings behind it. Next time, try generating a key with 100 dice rolls and adding a passphrase and then do that process over 3 times and then XOR the keys together and add a passphrase then repeat that process 2 more times and create a 2 of 3 multisig on 3 different devices bought from 3 different vendors and stamp your seed on 3 metal plates and send them 3 different continents and then rotate your keys every year. If this is too much for you or you can be bothered to learn or are too lazy, then you deserve to get your funds taken.

DrSpeckles

This is from people who still think we are “early” in BTC, which doesn’t actually do anything.

JumpProfessional3372

And for the BTC price, is that this can lower it if the hackers start selling in masses. Maybe they are holders.

GiganticTree

Because we live in a simulation. Check every BTC bottom on a chart :)

opDimitri

Dee has been working around clock helping people migrate, and many acknowledged it. BTC sessions gave him multiple shout-outs during this mess. He is also a support tech and has nothing to do with coding. For all we know he will leave the company in time, but it seems like helping people in the moment is more important than principled tantrums.

Daiymas

I think a bigger problem is if the wallet has already spent BTC, then the public keys becomes visible and the hacker will know which 2 seeds to use to drain what's left.

Due_Extension_2401

At the end of the day there are NO guarantees, No One is 100% safe😐 Multiple Bags. 3seeds, +3backup seeds, keep Your ear to the BTC/ Crypto community/ stay in tuned &be ready for a speedy seed migration😐

DWHudson1970

BTC is still way down.

FastRelief3222

Where it is now addy A: 562.02 BTC ($35.8m) bc1qq85v2c926eg6pgxhwp6q7lf6cnsz80qs3fcu9r addy B: 398.48 BTC ($25.4m) bc1qx76cae2706qd5q576feh7xq8rfcsjpf2htfhe3 both show spent = 0.0000. not one satoshi has ever left either address. 992.95 BTC total.

Key-Respect3810

Si c’est le groupe de hackers LAZARUS les BTC seront récupérable en Chine afin de financer le programme nucléaire nord Coréen

TheCodifiedTrader

Fuck no, did you not heard the shit about Coinkite/ Coldcard? 100% most people are moving their money elsewhere, probably stocks or index funds, you think they gonna wait if or when they lose their BTC to hackers?

moviemaker2

The above comment will be the best answer in the thread. No way of storing Bitcoin is risk free, you just need to choose the risk profile that suits your needs and amounts. Personally I store in a range of ways: multiple exchanges, multiple hardware wallets, and ETFs. There’s no conceivable attack vector where I could lose all, or even half my BTC, short of the entire network being compromised at which my storage method was irrelevant.

PuzzleheadedBell4057

I have the same allocation - 80% stocks (mainly broad market ETF), 20% crypto. The 20% crypto allocation contains 10 different coins with BTC and ETH accounting for half the allocation (30% and 20% respectively). I'm old fashion - I believe diversification is key to risk adjusted out-sized returns.

TheCodifiedTrader

In the before times everyone I know marketed BTC as a "deregulated" currency and idk why they were trying to make it sound like a good thing. Now this shit happens and everyone is surprised Coinkite isn't crediting their customers? **No one can hold them accountable**, they're just trying to pass off the buck from their security flaw but without regulation what did ya think was gonna happen?

PM_ME_UR_0_DAY

At least on Xbox you have a gamertag to go off of. To catch this guy you'd have to be the FBI who can subpoena any public BTC infrastructure they used to submit their transactions. Then you'd probably have to subpoena the VPN they used and hope that isn't a dead end. 

TheCodifiedTrader

I just saw Coldcard got hacked- an offline hardware wallet got hacked which in itself is one thing but when the regular degular Joe deposits his USD into Chase (U.S) he knows it's safe and if the bank is robbed he will absolutely get his money back. You think Conkite is covering the losses? **FUCK NO.** Which idk why anyone should be surprised. You put your "money" into an unregulated entity and are surprised that's it's not crediting you when fraud activity occurred? IIRC before the craze, everyone marketed BTC as a deregulated currency- the future of money, well look what happens when you have deregulated currency, **no one gets held accountable**.

Odd-Intention7059

Sehr gut, aber kein vergleich zu dem ersten BTC für 250-300 ca.

Odd-Intention7059

Also ich bin 100% in BTC und theoretisch schon seit 2015 ernsthaft jedoxh erst seit den Corona zeiten

neo101b

nope and interesting one, it teacher how secure BTC is.

ContentBlackberry0

People with that amount of BTC set it and forget it and this did not make the news as the my knowledge just online crypto websites the first day or so.

Theverybestestintown

How on earth is BTC still above 60K amidst this hack?

2xfun

Yeah we fucked up: 1) the shitcoin storm of 2018 killed the bitcoin reputation (most Joe Averages can’t tell The diference between clown coin and BTC ). 2) Bitcoin derivatives (options and ETFs) aka paper bitcoin open the door to instant gratification gamblers. 3) Bitcoin hype died and no one cares about it 

tenor_tymir

That would’ve been a miracle if they managed to store BTC on a cold card.

jaimewarlock

It is used a lot in peer-to-peer exchanges due to it's 1 minute confirmation times. Put some LTC into escrow, wait for a confirm, someone sends you the money, you release the escrow. Usually only takes a couple minutes total. Try that with BTC and if you get unlucky waiting for the next block and that escrow confirmation can take hours. Longer if the network is busy and you didn't use a large enough fee and your transaction gets stuck in the mem pool. Once that happens a couple times, most people switch to another crypto coin with faster block times.

LionRivr

The irony is that BTC was made to remove the need to “trust” anyone or any 3rd party. Users should be able to generate their own seed phrase and wallets. “Trust” is not needed. In BTC, you do not “trust”, you verify. But with 3rd party companies making hardware wallets, a customer now needs to “trust” the company and their product. But yes, “trust” in the asset itself is damaged simply due to association.

The_Bitcoin_Act

Nobody can tell you with confidence whether today specifically is the good day to buy, and that’s true of literally every day in Bitcoin’s history, so you’re not missing some knowable signal by asking. Right now BTC is trading around $64,000, which is roughly half of the all-time high it hit near $126,000 back in October, so you’re neither buying at an obvious peak nor at rock bottom. Since you’re already planning to hold for a few years rather than trade it, the exact week you get in matters a lot less than it would for someone trying to catch a short-term move. On the 1 BTC target specifically: it is a big first purchase for someone new to this. It might be worth reframing it as a dollar amount you’re fully comfortable committing rather than chasing the round number of owning a whole coin, and some people find it easier, especially for a first purchase this size, to split it into a few buys over some weeks rather than committing it all in one shot, mostly for peace of mind rather than any proven pricing advantage. NFA!

RetiredAvocado

Only owner can see public keys if address has not spent anything. Most people never see any keys. Private key for an address cab be used to spend BTC.

NashDaypring1987

I think there are funds that trade BTC futures. I got burnt by buying farming futures ETF (soy, coffee, etc) because the tax structure was a nightmare. Tax time was a pooh show.

TheBestintheWest11

"what HW did you store you BTC in? hope it wasn't a cold Cardmk3"

seansy5000

Buttcoiners strike again. Do these folks not realize BTC is over $60k?

FlatOutEKG

Public key allows people to send BTC to that wallet, like giving your bank account number to someone so they can deposit in your account. Private key is meant to be had only by the owner. That would be like giving someone the combination to your safe. Now they can get whatever is in it.

MrNoodleIncident

Right, but that holds true for all ETFs. A MF would avoid that but I’m not aware of any for BTC?

NashDaypring1987

I forgot one last important point regarding BTC ETF's. If you hold it in a taxable account, you have to report the sale of BTC within the ETF. These BTC ETF's sell a little of their BTC to fund the management of the fund. This is technically a taxable event that you have to report. In practice, most people own so little that the IRS probably won't care. It's simply something to be considered.

iloverunning11

Bro thinks $3M home is not extravagant ahahaaaa, yeah cope even harder. IR are going up and BTC is therefore overvalued (or rather nothing because it has no real value) because speculators tend to stay away when IR are going up, hmmmm why would that be?! As long as you can buy a home with 1BTC = BTC price is insane, since that is not possible in US and Europe rn, it is not that insane, but saying it's insanely undervalued when it still, after almost 20 years of existence, does not have a single use case and there are close to 0 real transaction, that is bonkers

Particular_Yard_2460

> The question then is how the hacker would use the mixed BTC in the real world, without people asking too many questions. Pay and artist to create a bunch of apes in hats. Upload them to an NFT marketplace. Use multiple wallets to bid millions of dollars for some digital monkey art. Duh.

SeaMisx

It is entirely possible for them to exchange these BTC for money, don't you worry.

MillerBlade2

It’s like 10 cents to send BTC

reality_comes

Agreed, and to those who would disagree, watch your value collapse if Coinbase were to lose its holdings. BTC would crash 90%.

jayboogs69

Buy it on a safe exchange (coinbase or kraken), buy a ledger or trezor directly from their website (not a retailer) for example ledger.com. Send the BTC to your cold storage device. Hold long term. If you need capital down the line don’t sell the BTC, instead borrow against it as BTC tends to go up in price over time. Thats it GL

BangkokPadang

Did you really look those over to make sure they don’t have a private key or that they don’t unscrew to reveal a number inside or something? In the earlier days, people did distribute “physical” BTC like that in a variety of similar ways. Imagine actually having 3BTC sitting there and not knowing it bc you thought they were just little trinkets lol.

Mastatheorm-CG

When you steal 1400+ BTC, they won't tell anyone but there'll be signs!

ContentBlackberry0

Millions of dollars get stolen and BTC pumps. Makes sense

ContentBlackberry0

it is saying the network would not adjust the difficulty even if all miners went offline. So even if you had an ant miner and it could not find a block at the current difficulty it you would never find any BTC.

jayboogs69

When BTC was at 15k people said it was going to sub 10k then it went to like 50k in a couple months. Not buying because you’re trying to exactly time the market is never a good strategy. DCA down, NFA

captainorganic07

Perhaps. Though consider the energy cost of Bitcoin (on-chain) network were to match the Visa network in terms of volume. For the 20million vs 20billion transaction difference. (3 orders of magnitude btw) Bitcoin energy cost per transaction was roughly \~1,500 kWh, compared to \~0.0015 kWh which is a difference of \~1,000,000× higher. To put that **1,500 kWh** into perspective, that’s roughly: Enough electricity to run an average U.S. home for about 1.5 to 2 months or drive an EV roughly 5,000–6,000 miles. A Visa payment, by comparison, uses around 2 watt-hour about enough energy to run a 10-watt LED light bulb for six to ten minutes. Kinda nuts when you lay it out like that. Granted, Bitcoin is paying for the excessive security of the network. BTC is like Fort Knox and decentralized whereas Visa is like an incredibly efficient logistics company moving billions of boxes on its network.

cubeeless

BTC to $400k!

AggressiveGas4637

Because you say no left or no right wing and then write and entire post about Trump “being the worst thing for crypto” and then gave me a comment proving my point by writing two paragraphs about Trump when I didn’t bring him up. Trump isn’t affecting crypto at all and if you think he is you aren’t informed, you are inflicted with TDS. Also lol. I’m also not a Trumper. I just know the world will continue to go on regardless of who is president and you attributing BTC movement to Trump is as an idiotic take as some Trumper attributing 2022 stock market to Biden.

elafave77

DM sine BTC and I'll point you on the right direction.

ORANGEisthenewGOLD

Only place I purchase BTC through. Daily everyday.

Indyxc

Major brokerages now allow you to hold your coins, such as fidelity. Sure, not your keys, not your coins, but with 18T AUM, if Fidelity goes under or gets hacked, the world has larger problems than the BTC you lost. I used to use Ledger but with their recoery schemes I decided I can't trust them.

Lefties_TheWorst7331

Saylor said *you* should never sell your BTC. Saylor is busy trying to get MSTR included into the SP500, and to do so, they need to look more like a company and less like a digital asset. On record ≠ old ass interviews? BTC has been going up on the news of his selling, so I'll take it..

MC_SKWAIRD

If you really want to buy BTC you should DCA over a period of time and not purchase lump sum just my opinion. Put in $1k-$2k max per week for the next 2 years if you want to be aggressive and sounds like you do 👍

Blade_Runner_69

I mean you could still use it... As a paper weight. You could use it to snort cocaine off. As a door stop/wedge. Just don't use it to store BTC 😎

Remarkable_Sleep_944

How's your BTC stack coming along? 😂

FunkyGrass

I bet you won’t talk like that if it was you, to lose 1 BTC or even half of that.

Several-Structure282

You’ll be fine only 18 BTC search up James hawls how lost around 7500 BTC

The_Bitcoin_Act

There’s never a perfect time to buy BTC, but at \~50% off its $126k ATH this is a historically decent entry for a long-term holder, just never risk more than you can afford to lose, and DCA instead of dumping $64k in one go. NFA!

Remarkable_Sleep_944

So smart you lose your BTC 😂😂😂

f08g

It will be very difficult. All their addresses are already blacklisted on every half decent reputable exchange. People mix anonymity with traceability. BTC is fully transparent and traceable. They can mix all they want. Unless they use massive mixing pools all they'll be doing with their BTC is buy VPN subscriptions

Agent10007

\>if vendors want to be able to take payments in BTC why would they choose to do that if they might accidentally get radioactive BTC?  Why would they choose to take payments in dollar/euro/whatever bill if they might accidentally get radioactive bills?

bieker

I always thought that one of the underlying principles of BTC was that it was fungible. Tainting of coins goes against that which I think is fundamentally bad for BTC, if vendors want to be able to take payments in BTC why would they choose to do that if they might accidentally get radioactive BTC? Why would I transact with anyone other than a big exchange if there is a risk of getting 2nd class BTC?

secretgains

broken English seems LIKE INDIAN scammers got there BTC taken 🤣

tribepride25

Good call! It’s been a stressful 10 years or so for me. Lost everything in Voyager, bought back some, and now there are constant daily threats of hackers trying to steal what you have. I still think BTC is a good long term investment and will continue to beat the S&P over time, but I would only recommend investing in one of the ETFs in a brokerage account instead of buying BTC directly

theAerialDroneGuy

Can you name one place that doesn’t not accept the dirty BTC money?

Hitachi22

QQQ up 20% YTD, BTC down 25%. Risk/reward is not worth it anymore 

tenor_tymir

Yes, bear market means cheaper BTC for longer, that’s actually a gift we should cherish and seize.