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Asking for a friend... 😉

 

Anyone using a hardware wallet for their crypto currency? I have a family member looking at a Trezor, but there are quite a few different brands/companies out there.

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Trevor or ledger are both perfectly fine... I use a couple ledgers. One thing to be certain of... MAKER SURE you buy the wallet directly from the manufacturers website and do not try and save a few bucks by buying it used or discounted. The main reason is, if you do buy the hardware wallet from an unauthorized seller, your crypto will definitely be at risk to be stolen. It's one of the oldest scams in crypto.

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If you do get the ledger, opt for the larger format size, because it will hold more coins/tokens than the small size. If you only plan on ever buying bitcoin and ethereum, the small size is fine. The size of the wallet only relates to the number of crypto types you own and not how much of each asset you own... you could store a billion dollars of bitcoin on a wallet that only has several hundred kilobytes of storage.

 

Also, tell them to NEVER give out their 'seed phrase'... that key is the only thing standing between the thieves and your crypto.

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transcending the crypto universe can be daunting... feel free to ask any questions to might need clarification on.

 

influencers can be misleading at times because they have their own interest at heart

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55 minutes ago, Schu said:

transcending the crypto universe can be daunting... feel free to ask any questions to might need clarification on.

 

influencers can be misleading at times because they have their own interest at heart

The names of the people that police Bitcoin.

JJK

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2 hours ago, Erosiar said:

I am new to cryptocurrency, where to find more info about it? 

Well I got my first definition from the supposed most knowledgeable  Wall Street fund manager from an interview with Consuelo Mac on PBS TV  and it went right over my head. I got the next definition from Charles Schwab and they really didn't know either. My best advice is invest in a mutual fund that deals with it and don't try to understand it because nobody really does. They also don't really know who controls it either. The latest recommendation is to wait awhile as  they will come out with one that is better than what they have now. I personally would rather hunt for the Lost Dutchman Gold Mine.

JJK

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1 hour ago, oldtimer said:

The economic definition is a speculative asset with no underlying intrinsic value.

 

Other people have tried to explain it to me, and I have read on it.  Still, I cannot find that magic thing that says, "Here's the value."  What it sounds like is a pyramid scheme. 

 

As long as people put their money into it, it has value.  That much is true.

 

On the other hand, stocks have constraints based on performance, measured by revenues, growth, margins, free cash flow, etc.  Crypto has none of that.  For that reason, stocks are something which are much easier to understand.  However, even then, I have reservations on the ones which don't pay dividends.  Sure, you can read up all about how well a company has performed, but it will pay you nothing, and it will keep paying nothing forever (I realize they can change dividend policy).  What is the value of an income stream of $0?  Still, people buy them and put their faith in them, giving them value.

 

I just don't know anymore...

 

 

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Some people see opportunity and boldly seize the day and then there’s me.

 

On 3/16/2020 at 5:55 PM, sputnik said:

Just noticed that Bitcoin has dropped 50% in the last 30 days.  Wasn't it supposed to be some sort of a safe haven from world economic collapse?

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it is not only 'A' future... it is 'The' future.

even sovereign nations will be issuing digital currencies as part of 'Central Bank Digital Currency' (CBDC) implementation. it offers MUCH more CONTROL, ease of use and accessibility but these CBDC's are NOT the promise of 'Crypto' as they are merely digitized currency. Hopefully they will be backed by REAL assets... eg: bitcoin, gold, real estate, energies etc.

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