Mentor Monday, June 13, 2022: Ask all your bitcoin questions!

Ask (and answer!) away! Here are the general rules:

  • If you'd like to learn something, ask.
  • If you'd like to share knowledge, answer.
  • Any question about Bitcoin is fair game.

And don't forget to check out /r/BitcoinBeginners

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Mentor Monday, June 13, 2022: Ask all your bitcoin questions!

37 thoughts on “Mentor Monday, June 13, 2022: Ask all your bitcoin questions!”

  1. Has anyone used Casa for multi sig? I’m considering it. What’s the setup process like?

  2. Sorry everyone…. i havnt been buying for a couple months, finally decided to do my DCA yesterday at 27k….. my bad.

    How are transactions fees these days?

  3. Why would miners sell coin? Who makes money on the sale, and is there always some sort of exchange involved? Can I sell directly or buy directly with no exchange?

    Why are people advertising bitcoin? What do they gain? Are they making money on a transaction fee?

  4. I love how no one is commenting last chance to buy under 40k. Got stale after a while. Last chance to buy under 24 maybe?

  5. Are there good alternatives to a Raspberry Pi? I’ve been wanting to set up my own node but haven’t been able to buy one for months. Looking for something pretty cheap and hoping to DIY it because it seems fun and a good way to learn

  6. is it still possible to buy BTC safely with cash anonymously still? I tried ATMs and they still want your ID plus ridiculous fees. Localbitcoin not sure about, there is one seller near me. Is there a defi exchange im missing out on? TIA

  7. Hi. So with there supposedly being a run on btc whos actually buying right now, see all the green candles ?

  8. wasn’t everyone praising 90% downturns in bitcoin are normal, that’ll be $6.9k for the bottom 😉

  9. As price falls, miners on the margin will stop/pause mining. As a result, the remaining miner’s break even goes down a bit. What happens when price drops below the break even for the most efficient miners and what is that price level?

  10. Let’s say, theoretically, a person has a Coinbase account and would like to merge to a less skeevy wallet, how might they do that?

    and theoretically how might someone get Bitcoin out of their wallet without a certain thief taking a slice once a year?

  11. I’ve previously held all of my coins in my Coinbase account. I will one day get a hardware wallet, but as a stop gap to try and take control of my coins, I’ve downloaded the Exodus wallet (recommended on here).

    My questions, now that I have my 12 word seed for this bitcoin address, does that mean I am in full control of them? The whole “not your keys, not your coins” thing, can I now safely say I ‘own’ my coins? Albeit not in the most safe way?

    With my 12 word seed phrase, could I effectively control my Bitcoin in any wallet I want, at the same time? Exodus isn’t actually holding my coins, are they? It’s just a wallet that I am using to view my Bitcoin address?

    Sorry for the stupid questions.

  12. I have a couple of questions:

    As a relative newb, I have around 0.05 BTC on Kraken. I don’t have a cold wallet yet. It was on my to-do list.

    Question 1 : I’m hearing about exchanges going down. Worried about Kraken. Thoughts?

    Question 2 : Because of this, cold wallet seems more urgent. Would you recommend a Coldcard mk4, or will a considerably cheaper Tresor One do for my purposes?

  13. I have 25k in savings just sitting in the bank that I don’t plan on touching for at least 1 1/2 years. Is it smart to invest now and wait?

  14. My bitcoin just halved. 1.5 years buying a little each month. Is it a crash or an aggressive dip… the million dollar question

  15. What would be the minimum coin to hold to make a nice pile of money in 20 years. Do you think 1 coin would do it? Half a coin? Cause I’d like to buy that right now and not look again to 2042, and see what happens.

  16. With the feds tighten interest rate do u think bitcoin is going to continue to drop😭😭

  17. How can i be privacy buying BTC without a node? My ip will be exposed if i used bisq?

  18. I have Coinbase wallet. Is this acceptable to keep a small amount of Bitcoin safe? Is it easy to transfer out or sell if I ever needed or wanted to liquidate quickly?

  19. Is there a Mega Thread for Newbie here? I barely know about bitcoin and want to learn. Please give me a link on this sub. Thank you!!!!!!!

  20. What is bitcoin’s “central proposition” now? Is it a store of value at time of inflation, a decentralised currency for “smart transactions”, or something else?

  21. The drop… was it wrong to think of Bitcoin as “digital gold” with inflation hedge? Or is this because Bitcoin is so heavily leveraged?

  22. What is the safest and most efficient way to DCA into BTC? I don’t want to hold on an exchange, but also ATM seems inefficient

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