Just a friendly reminder from an old-timer: psychologically prepare yourself for the crash before it happens.

I love Bitcoin and I've been deeply involved in it since 2012. It is without a doubt the best STORE OF VALUE ever devised. I fully expect it to surpass gold in that regard. So there is a lot of growth left.

That being said, everyone here needs to psychologically prepare themselves for a 75% (or possibly even more) crash. Due to the extremely strict supply limits of this money, the bubble/bust cycle will NOT magically stop. This current bubble could take us beyond 10,000, and the crash could take us below 1,000. Get that in your head now. Let it sit in your mind for a while and absorb it at an emotional level.

In the long run we'll all be okay and very glad we were buying so early. But in these happy times, just remember: This Too Shall Pass.

submitted by /u/Throwahoymatie
[link] [comments]
Bitcoin

What happens now? 12 hours and transaction has zero confirmations.

Used Electrum, noticed the default miner fee was like $ 15 for my $ 120 payment. Manually adjusted to 90 satoshi per byte, and the calculation based on https://bitcoinfees.21.co/ at the time said it would have taken 6 hours max. 12 hours later I have zero confirmation. Couldn't add more fees to the transaction afterward….

So what happens now that my transaction isn't being mined?

Also, is this a temporary thing ($ 15 fees), or is this the new thing with Bitcoin, never had issues before with default fees and relatively low miner cost…

Thanks

submitted by /u/nootnewb
[link] [comments]
Bitcoin

August 1, 2017: What happens to our bitcoins during a hard fork? [Explained]

I've seen a lot of questions and a lot of "GET YOUR COINS OUT OF EXCHANGES" comments. I've been looking around for some answers and stumbled upon this video (5 Min) from Andreas Antonopoulos, whom does a very good job of explaining what's going to happen and what choices you have. Hope it helps! 🙂

https://www.youtube.com/watch?v=sNR76fWd7-0

TL;DW: what to do

1) If you directly control the private keys to your bitcoins, you're fine: your coins aren't being invalidated or going anywhere. When the hard fork happens, you can just decide which chain you want to continue with. just HODL until things clarify.

2) If you don't control the private keys to your bitcoins (ex. on an exchange), move them to address that you control. If you don't, whoever controls your bitcoins will be deciding for you, and not all exchanges/ wallets will be supporting both sides of the fork.

submitted by /u/ChanDroid_
[link] [comments]
Bitcoin