John Badman
kiwifarms.net
- Joined
- Aug 7, 2024
$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED
- Thread starter CrunkLord420
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- Joined
- Feb 14, 2025
I dunno if you guys are interested in this, but I've seen a lot of stuff about bitcoin in conspiracy circles lately. If you are interested you can take a look.
- Joined
- Feb 24, 2019
It really brings me back to a nostalgic feeling of the 2020-2021 /biz/ XRP Schitzo period(that's made me a fair amount of money).
I went and tried to find the old image of the Chad in a straight jacket and tin foil hat for "WOOOOOOOOOO" posting, and I was surprised to find it gone. /xsg/ doesn't seem to use it anymore, and I can't find it using any search engine.
Really makes you think.
- Joined
- Mar 25, 2025
Probably been asked a bazillion times in this thread, but since OP doesn't say - what site is the best for buying Bitcoin? - I've heard that a lot of sites now are anal about purchasing XMR, so I'm assuming that it's a similar situation with BTC.
- Joined
- Dec 28, 2014
No, XMR is particularly radioactive because as a "privacycoin," it's literally untraceable. Any normie exchanges are terrified of it and won't do it if they have to interact with U.S. banking and KYC/AML shit.
You can buy BTC anywhere, normie exchanges like Coinbase being the most obvious. You can just straight up buy it with USD with no problems. If you want to do anything sketchy with it, you then transfer it to a private wallet and go wild.
- Joined
- Oct 25, 2023
@Sandnigger Mudhut To add to this: even something as simple as donating crypto to Null/the farms is considered "sketchy" - Coinbase will terminate your account if you transfer crypto from one of your addresses to his.
Mr. Ghoul
kiwifarms.net
- Joined
- Oct 26, 2018
CashApp, Venmo, PayPal all offer BTC. Every exchange offers it. Even most hardware wallets offer native ways to buy it with their software, And then there's BTC ATMs if you like getting extra raped with fees, The list goes on and on. Just pick your normie method of choice. Be sure to withdraw to a private wallet. I've been using CashApp for years because it takes like 3 taps on my phone to buy and withdraw to my lightning wallet. If you want XMR and are in the US your bet bet is Kraken using a Plaid account. Otherwise you've got to swap into it with BTC or another crypto.
Dual X99
kiwifarms.net
- Joined
- Apr 27, 2025
+1 for Kraken if you are alright with KYC. They require picture of ID and SSN, but at least you don't have to do the humiliation ritual of taking a picture of yourself holding up a note. For privacy with BTC, some wallets support the new silent payments protocol, which might be a better option than having to convert back and forth to XMR to obfuscate the transaction history.
When shopping around for exchanges there are 3 important fees and they are all usually separately listed.
1. Cash Deposit: Using an ACH transfer with Plaid is usually free. If you use Visa you have to pay for the 3% payment processing and risk getting your card blocked.
2. Maker/Taker: A lot of beginner exchanges only offer taker trades, which is when you immediately buy the coin from a seller. Entering maker trades involve placing a limit order and you wait for a seller to agree at a price you list. The maker fees are cheaper (0.25% on Kraken) compared to the taker fees (0.4% on Kraken and >1-2% on other exchanges)
3. Crypto Withdrawl: Usually just involve network fees for the miner, but some exchanges might have exorbitantly high fees and minimums to discourage you from withdrawing assets from their platform.
Lastly, you should treat these exchanges like a whore. As soon as your cash deposit leaves escort (usually a week), buy a limit order and immediately deposit it into a non-custodial wallet. Don't try to day trade, since the house edge is the fees.
- Joined
- Oct 2, 2023
How dumb is it to buy with PayPal and then every so often send it all to a hardware wallet? New to crypto, am retarded but technical, just happen to use PayPal for mine and the misses "fun money" allowances.
Dual X99
kiwifarms.net
- Joined
- Apr 27, 2025
The taker/cash deposit fees seem to be combined into this chart:
https://www.paypal.com/us/digital-wallet/paypal-consumer-fees#cryptocurrencies
IMO the fees are high but if the convenience of Paypal is worth it then it might be an okay option.
Also keep in mind that when you transfer to a hardware wallet without lightning support, you have to pay the mining fees for each transaction see https://bitcoinfees.net/ When the mempool gets crowded, a bidding war starts and the per transaction fees can easily go over $10. If you withdraw from Paypal, it will want to make sure that the transaction will actually go through so it will choose a more premium fee rate that you might not be comfortable with. If the mining fees are high then it might be best to wait for lower rates before taking it out. Using an exchange that supports the lightning network will bypass the mining fees and you won't have to deal with the $100 minimum from Paypal. (Minimum Paypal transfers https://www.paypal.com/us/cshelp/article/how-do-i-transfer-my-crypto-help822) But I've never used the lightning network since I am waiting for Cake Wallet to implement it later this year.
TLDR: If you buy crypto in amount >$150 from Paypal and withdraw to hardware wallet when mining rates are low it's not a terrible option. Or, if you want to get around these restrictions, move to a different exchange to reduce fees and maybe use lightning.
Also forgot to mention but XMR literally fixes all of these problems if you buy through Kraken, but BTC might be a better store of value and is accepted in more places.
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- Joined
- Oct 2, 2023
Thanks for the detailed answer. Will consider the mining fees. Thinking of snagging a hardware wallet, any opinions out there? Convenience being top priority. New to this but simply thinking of something to toss in a safe and pull out, send some BTC to, lock back up. People hammering recovery keys into sheet metal and shit kinda scares me a bit. DIY banking certainly is a different mindset.
Dual X99
kiwifarms.net
- Joined
- Apr 27, 2025
I only use a mobile wallet but https://learnmeabitcoin.com/beginners/wallets/ has a couple suggestions for hardware.
That site is also my favorite to learn about the inter-workings of Bitcoin. The author is really good with images and explaining things clearly.
I have never used a hardware wallet, but to send BTC from an exchange to your wallet, you usually only need the public key that can be seen by anyone. I think the hardware wallet would only store the seed/private key so you only need to take it out when you need to spend from your wallet. But double check this.
Yeah it sounds weird, but the only thing keeping your seed together in a hardware wallet is bits of electrons. If that were to fail for any reason, you would be SOL. The sheet metal is the most robust and you only have to store 12 words. I've never done this because I only use crypto as a currency (not a store of value) but https://learnmeabitcoin.com/beginners/security/ would cover the best practices with this sort of thing.
Out of the private wallets, there is really no bad options as long as you have access to the seed.
- Joined
- Dec 28, 2014
I have used it a couple times just to see how it worked and it's cumbersome as fuck. I can't see it being that widely adopted without keeping the stuff that should be under the hood under the hood. It should be easy enough to use you don't even have to know how it works.
Gede labah
kiwifarms.net
- Joined
- Feb 14, 2020
I bought 10k in Bitcoin about a month ago, and transferring it to my Trezor wallet was very scary because it's so abstract as to what exactly is going where. I like watching number go up, but until I turn it back into dollars or gold, I don't know if it'll feel real. That said, I'm waiting for some kind of dip so I can buy more, because it's the best performing out of my portfolio.
Mr. Ghoul
kiwifarms.net
- Joined
- Oct 26, 2018
I've switched hardware wallets a few times these past years as I've upped my security and lemme tell you, the anxiety of sending the bulk of your stack to a new address is real. That few seconds before Sparrow recognizes the transaction in the mempool is pure torture.
I just started using Lightning this year and in some ways it's great and other ways it's absolute dog shit. It's really great as an intermediary between an exchange an your cold storage. I use Aqua wallet for all of my DCAs. After I buy it goes straight from the exchange to Aqua where I hold there until I get to my sats threshold before swapping back onto the base layer and sending to my cold storage. Aqua also has a cool "peg in" feature where all lighting transactions are converted to Liquid on the back end which ads an extra layer of privacy.
However, Lightning was originally developed for merchants which means that transactions require pre-set invoices which is just a pain if you just want to send to an address without having a pre-set amount. Some wallets allow you to create zero amount send addresses but it's not the norm. When you compare it to something like Monero which just werks by sending/receiving on the base layer with the same speed, Lightning is clunky.
For BTC only hardware wallets go with either a Jade Plus or a Coldcard. The Jades are less expensive but still very nice and offer a true air-gapped option via QR codes. As far as your back up seed I'm not really a fan of stamping into steel because it's a single point a failure and steel is way harder to destroy should you need to. I would recommend using something like Superbacked over stamping into metal. It kind of gives you the advantages of a multisig setup without having to go full multisig.
- Joined
- Aug 7, 2022
>India and Pakistan chimp out and start bombing each other
>BTC spikes upwards
What is the financial explanation for this?
>BTC spikes upwards
What is the financial explanation for this?
- Joined
- Jun 6, 2020
Meme answer: fewer scam coins are being pumped out so liquidity is flowing to a safe haven.
Real answer: fewer scam coins are being pumped out so liquidity is flowing to a safe haven?
- Joined
- Dec 28, 2014
Tbh crypto prices often seem to act paradoxically and sometimes react to things you think should crash them by spiking and sometimes they crash in reaction to things that logically would make them spike.
They actually do react to real world events but in a perplexingly random way. Like I've seen some country cracking down on crypto suddenly spike or crash the price. Why? Who knows?
This is why you have two kinds of day traders. Rich motherfuckers (the tiny minority) and broke retards (everyone else).
And of course the one kind who ALWAYS wins, the house (exchanges but even they go broke in spectacular ways).
- Joined
- Dec 28, 2014
Past edit time so doublepost, but it looks like BTC is about to moon again.