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    Bitcoin Bitcoin Newcomers FAQ - Please read!

    January 30, 2021

    Bitcoin Bitcoin Newcomers FAQ - Please read!

    Bitcoin Newcomers FAQ - Please read!

    Posted: 06 Jan 2021 08:06 AM PST

    Welcome to the /r/Bitcoin Sticky FAQ

    You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.

    It all started with the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following articles/books/videos as a good starting point for understanding how bitcoin works and a little about its long term potential:

    Some other great resources include Lopp.net, Gigi's resource page, and James D'Angelo's Bitcoin 101 Blackboard series.

    Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.

    Some Bitcoin statistics can be found here, here and here. Developer resources can be found here. Peer-reviewed research papers can be found here, also course lectures from the Princeton crypto series.

    Potential upcoming protocol improvements and scaling resources here and here.

    The number of times Bitcoin was declared dead by the media can be found here (LOL!)

    Key properties of Bitcoin

    • Limited Supply - There will only ever be 21,000,000 bitcoin created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
    • Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
    • Accountable - The public ledger is transparent, all transactions are seen by everyone.
    • Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
    • Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
    • Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoin resides has the authority to move them.
    • Low fee scaling - Fees are chosen by the sender - you can choose your own fee. An appropriate fee for an on-chain transaction depends on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view fee estimates here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
    • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
    • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
    • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
    • Secure - Blocks and transactions are cryptographically secured (using hashes and signatures) and can't be brute forced or confiscated with proper key management such as hardware wallets.
    • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
    • Nearly instant - From a few seconds on the lightning network to a few minutes on-chain depending on need for confirmations. Transactions are irreversible by normal users after one confirmation and irreversible by anyone (including miners) after 6 confirmations.
    • Peer-to-peer - No intermediaries taking a cut, no need for trusted third parties.
    • Portable - Bitcoin are digital so they are easier to move than cash or gold. They can be transported by simply carrying a seed (a string of 12 to 24 words) on a device or by memorizing it for wallet recovery (while cool, memorizing is generally not recommended due to potential for forgetting the seed and the potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for most users for their ease of use and additional security).
    • Scalable - While the protocol is still being optimized for increased transaction capacity, blockchains do not scale very well, so most transaction volume is expected to occur on Layer 2 networks built on top of Bitcoin.
    • Divisible - Each bitcoin can be divided down to 8 decimals, which means you don't have to worry about buying an entire bitcoin.
    • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat

    Where can I buy bitcoin?

    Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.

    Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.

    Note: Bitcoin are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year.

    Securing your bitcoin

    With bitcoin you can "Be your own bank" and personally secure your bitcoin OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoin for you.

    • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.

    • If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk. There is a saying in the community, "Not your keys, not your coins" meaning if you don't store your coins in a wallet that you control the keys to then you do not really own your bitcoin as you have to ask permission from the third party in order to move them.

    Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!

    2FA requires a second confirmation code or a physical security key to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.

    Google Auth Authy OTP Auth andOTP
    Android Android N/A Android
    iOS iOS iOS N/A

    Physical security keys (FIDO U2F) offer stronger security than Google Auth / Authy and other TOTP-based apps, because the secret code never leaves the device and it uses bi-directional authentication so it prevents phishing. If you lose the device though, you could lose access to your account, so always use 2 or more security keys with a given account so you have backups. See Yubikey or Titan to purchase security keys.

    Both Coinbase and Gemini support physical security keys.

    Watch out for scams

    As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. As they say in our community, "Don't trust, verify".

    • Avoid using ad-based search engines like Google or Yahoo: ads are shown based on how much the advertiser bids, and scammers can easily outbid legitimate providers for ad space, since immoral ways of earning money are far more lucrative than moral ways. Use DuckDuckGo instead, which has no ads, and never tracks you as well.
    • Ignore private messages offering services.
    • Never enter your seed words in a website of any kind. Hardware wallets will recover by displaying possible seed words on their own interface, never on a website.
    • Avoid clicking on links like that look like links, such as https://www.google.com/, without first hovering over it and actually checking where they go to. Just because a link is labelled with an HTTPS address does not mean it actually sends you to that address. It is trivial for someone to comment a link on Reddit that looks like it will send you to one website when it actually sends you to another, and you might not notice the difference until a scammer has gotten all your money, or you have downloaded and installed software that steals your money.

    Where can I spend bitcoin?

    Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card or Fold card. Some other useful site are listed below.

    Store Product
    Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
    Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
    NewEgg and Dell For all your electronics needs
    Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
    Menufy and Takeaway Takeout delivered to your door
    Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
    Cryptostorm, Mullvad, and PIA VPN services
    Namecheap, Porkbun Domain name registration
    Stampnik Discounted USPS Priority, Express, First-Class mail postage

    Coinmap and AirBitz are helpful to find local businesses accepting bitcoin. A good resource for UK residents is at wheretospendbitcoins.co.uk.

    There are also lots of charities which accept bitcoin donations.

    Merchant Resources

    There are several benefits to accepting bitcoin as a payment option if you are a merchant;

    • 1-3% savings over credit cards or PayPal.
    • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
    • Accept business from a global customer base.
    • Increased privacy.
    • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.

    If you are interested in accepting bitcoin as a payment method, there are several options available;

    Can I mine bitcoin?

    Mining bitcoin can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out.

    If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node. You can view the global node distribution here.

    Earning bitcoin

    Just like any other form of money, you can also earn bitcoin by being paid to do a job.

    Site Description
    WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /r/Jobs4Bitcoins, BitforTip, Rein Project Freelancing
    Lolli Earn bitcoin when you shop online!
    OpenBazaar, Purse.io, Bitify, /r/Bitmarket Marketplaces
    /r/GirlsGoneBitcoin NSFW Adult services
    A-ads, Coinzilla.io Advertising

    You can also earn bitcoin by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoin for a small fee (requires you to already have some bitcoin).

    Bitcoin-Related Projects

    The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.

    Project Description
    Lightning Network Second layer scaling
    Liquid, Rootstock and Drivechain Sidechains
    Hivemind Prediction markets
    Tierion and Factom Records & Titles on the blockchain
    BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
    JoinMarket and Wasabi Wallet CoinJoin implementation
    Decentralized exhanges Decentralized bitcoin exchanges
    Keybase Identity & Reputation management
    Abra Global P2P money transmitter network
    Bitcore Open source Bitcoin javascript library

    Bitcoin Units

    One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:

    Unit Symbol Value Info
    bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
    millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
    bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
    satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor

    For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:

    • 0.001 BTC
    • 1 mBTC
    • 1,000 bits
    • 100k sats

    For more information check out the Bitcoin units wiki.

    Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.

    Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.

    Welcome to the Bitcoin community and the new decentralized economy!

    submitted by /u/BitcoinFan7
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    Daily Discussion, January 30, 2021

    Posted: 29 Jan 2021 11:00 PM PST

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    I made a portrait of our latest recruit Elon Musk

    Posted: 29 Jan 2021 02:35 PM PST

    100,000 new members on r/Bitcoin in one day!

    Posted: 29 Jan 2021 11:29 PM PST

    Welcome! :) This is so exciting!

    submitted by /u/First_Time_Optimist
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    Hedge funds have shorted about 5bn of Bitcoin futures

    Posted: 29 Jan 2021 01:32 PM PST

    Hedge funds have shorted about 5bn of Bitcoin futures

    To cover it up, they would need to buy back about 150 000 bitcoins.

    I will let you connect the dots with what happened this last week

    https://preview.redd.it/efzkvxsnfge61.jpg?width=997&format=pjpg&auto=webp&s=0452dfe548f424bd9e9a83a4c847de238d16007f

    submitted by /u/floflodea3
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    [PSA] Robinhood Insolvency Dangers

    Posted: 29 Jan 2021 07:20 PM PST

    I posted this over at r/wallstreebets as well.

    Robinhood appears to be on the verge of insolvency based on a few data points:

    1. To continue operating, it drew on a line of credit from six banks amounting to between $500 million and $600 million
    2. They had to raise an emergency $1 billion from investors today.
    3. They stopped allowing users to buy GME and other meme stonks for a full day yesterday.
    4. They have severely limited or blocked 50+ stocks, including lots of non meme stonks. More are likely.
    5. They are not allowing people to exercise their options, instead they are automatically selling them at a price of their choosing.
    6. There appears to be a bank run on Robinhood as people are fed up with the restrictions, this is a negative feedback loop.

    If Robinhood goes under the SEC will freeze all the accounts. The SIPC protects up to $500k in accounts.

    BUT MOST IMPORTANTLY, IF YOU HAVE CRYPTOCURRENCIES AT ROBINHOOD, IT APPEARS YOU WILL LOSE EVERYTHING!

    I am not bullshitting. Look at their How You're Protected support page for yourself:

    ​

    Cryptocurrency investments through Robinhood Crypto are not protected by SIPC and that Robinhood Crypto is not a member of FINRA or SIPC.

    ​

    TL;DR: Get your crypto out of Robinhood ASAP!

    submitted by /u/theaback
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    Scaramucci’s tie on CNBC today...

    Posted: 29 Jan 2021 02:00 PM PST

    Fiat Will Eat Itself

    Posted: 29 Jan 2021 11:27 AM PST

    Delete Robinhood!

    Posted: 29 Jan 2021 08:01 AM PST

    It's a scam broker!

    Robinhood makes millions selling your pre-market order info stock trades to the Citadel and Wall Street.

    They will do same to BTC as they are doing now to the people holding stock shares... Citadel hedge funds CEO is a shadow owner/member of the Robinhood broker. Lead trader at Citadel is Jeffrey Psaki, portfolio manager Citadel LLC is Jen Psaki White House Press Secretary brother. Use Degiro for EU, Fidelity for the USA or any other safe platform. You can imagine how many years they scammed ordinary people whose call for help nobody has noticed until now, if it wasn't for the voice of 6 million Redditors we would probably never know about it and Robinhood would continue to cheat and scam people.

    Wall Street corporations cannot limit public access to the free market, nor should they censor discussion surrounding it, particularly for their own benefit. This apparent coordination between hedge funds, trading platforms, and web servers to shut down threats to their market dominance is shockingly unprecedented and wrong. It stinks of corruption! Multiple brokerages blocked the ability of small investors to buy more GameStop and other stocks..., is it Bitcoin next?!

    Robinhood even restricted trading in cryptocurrencies, citing "extraordinary market conditions"

    Report and Request from iTunes and Android to remove the scam application from their store after you leave a bad review.

    *** Angry traders swarmed the app's Google reviews page, only for Google to remove hundreds thousands of negative ratings on Friday the 29/01/21. A class action lawsuit against Robinhood was filed with the Securities and Exchange Commission on Thursday. Attorneys-general of New York and Texas are reportedly looking into Robinhood and other companies over their conduct in limiting stock buys.***

    Bankrupt Robinhood!

    Give a lesson to the Scammer to be Brokers. When Robinhood goes IPO flush it into the toilet where is it place!

    Viva La Revolucion!

    Power to the people!

    submitted by /u/NebulaObjective1929
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    Welcome to the squad, Elon.

    Posted: 29 Jan 2021 09:44 AM PST

    Visa CEO calls Bitcoin 'digital gold', outlines strategy to integrate crypto

    Posted: 29 Jan 2021 09:30 AM PST

    MicroStrategy CEO to release the world’s first Bitcoin ‘playbook’ for corporations

    Posted: 29 Jan 2021 02:19 PM PST

    Do we really want to let MicroStrategy get a bunch of Institutional Financial Companies to be able & buy all the cheap discounted Bitcoin RN? Or do we want to do what the rest of Reddit did this week, & buy it up in mass ourselves so we can get the cheap Bitcoin, & they get the expensive BTC Prices

    Posted: 29 Jan 2021 06:18 PM PST

    Don't get me wrong, Michael Saylor and his company are the best thing to happen to Bitcoin in a long time. They did what those like myself who've been in this space for nearly a decade now did not expect to happen for at least another 5 years at best. Specifically, making Bitcoin their main treasury reserve asset. This is going to lead an example that will encourage other businesses to do the same. This is good for Bitcoin, but for all the little guys hype buying everything else right now but Bitcoin? It's very bad for them. They will miss the boat having sunk their fortunes into everything else they could have, while the largest rocket ship of their lifetime was just fueling up to take off.

    ​

    I know those of you who have been here as long as me often think "Screw the idiots then if they're too dumb to buy Bitcoin at these prices", or "People pay the price they deserve". But we came to Bitcoin because we know it is a better financial system, and people need it so they can escape the shitty financial systems we all ran away from. I know many of you old dogs like me want these dips to last as long as they possibly can, especially now that we can see that the institutional adoption road is finally being built, and that having the little guys ignore it for everything else is the best thing to keep this dip going as long as it can. I contemplated making this post myself. You think I want the price to run away? Hell no. I'm throwing in almost 50k a month from rental properties my earlier Bitcoin's bought me throughout the years. But we came in here because we know it's the better money, and we know we need to get the little guys in as much as we can while it's still cheap. And this whole reddit financial momentum is just the thing to bring the masses in.

    ​

    For those who don't know, MicroStrategy is hosting a summit next week for institutional investors to learn about Bitcoin. Most old dogs in here already know what is going to happen. We've been keeping our mouths shut so we can buy this cheap Bitcoin longer. But most people out there aren't getting it. They're getting all the other reddit hype buys, ignoring where the big institutional money is going, and has been going for some time now. What will most likely happen if most people keep ignoring Bitcoin is that institutional guys will keep buying into Bitcoin more than they are in any other sectors, while integrating it into their businesses to inherit it's value, and add usage value to it at the same time. And the little guys? They will be left with either regret for not having bought any, or be forced into having to buy in at the next all time highs. Meanwhile, the institutional investors will have already made their initial giant injections for this discount that should've been for the masses. We can change this current projection if we ban together like the rest of reddit has.

    ​

    That said, I applaud reddit's actions for sticking it to the man and beating them at their own game. But you saw right after that how obvious it is that they control that game, and they will change the rules of that game every time so they can screw the retail investors(the little guys). This is why many like myself left that old school financial game long ago for bitcoin, because we know they control the board and make the rules in that old game of theirs we left behind. Here? Nobody can change the rules of the game to lean in their favor. Nobody can change the way Bitcoin works to fuck the little guy and help the big guys. If an exchange doesn't let you buy? You have countless of options where you can move your Bitcoins to to do business there. How many of you can move your stocks off of Robinhood right now?

    ​

    If you really want to fuck the big guys, buy their favorite new toy before they do for the discount that it is at right now. Force them to pay top dollar for this thing once a majority of them decide to start hopping in, instead of them forcing your 401ks and Roth IRAs to buy it for you at top.

    BUY THE FUCKING DIP, AND HODL THAT SHIT!

    ​

    Also, for the love of Satoshi, don't buy Bitcoin on Robinhood.

    submitted by /u/ThrowAwaydntopnddins
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    Why Bitcoin remains and will remain the most valuable crypto currency.

    Posted: 29 Jan 2021 11:55 PM PST

    With new comers into this space everyday, there's a lot to learn. One of the common questions is why is Bitcoin the most popular cryptocurrency? What gives it value over others despite the fees and speed?

    I started typing this as a reply and then realised it probably should be its own post.

    There are many factors why Bitcoin remains popular despite the competition, some more obvious than others.

    1. First. Being the first means it has the strongest network effect. The Bitcoin name is on the news regularly, this is free marketing and has become widely known. Any newer crypto will have a hard time to compete for this air time.

    2. Solid fundamentals. The other networks are either under used, hence why fees are low. Or the claims made by other networks regarding improvements over Bitcoin come at a compromise of one or more of Bitcoin's strengths.

    3. Decentralisation. No company or people are in charge of Bitcoin so it can't be sued or taken down). And the rules can't change at the whim of an influential leader. This gives Investors long term confidence and predictability of its Blockchain rules.

    4. Security. The Bitcoin network has by far the highest POW hashrate, keeping the network secure from attacks.

    5. Fixed supply. The 21million Bitcoin cap makes it rare, super rare actually compared to most other networks.

    6. No pre-mine. A lot of cryptocurrencies have been pre-mined by their founders (such as the 70% premine of Ethereum, or XRP created 100billion tokens at launch). This should be a red alert as makes distribution unfair enriching the founders. Premines are not something that gets talked about lately but creation of tokens out of thin air is what central banks do today and what proof of work fights. If something takes effort to do, it should have more value than a pre created token.

    7. Deflationary. The shrinking supply of Bitcoin over 4 year halvings, whith increasing demand is a moon recipe.

    Each one of the above could be further expanded but I hope this makes it a little clearer.

    If the only priority was speed and cheap transactions, why reinvent Paypal?

    Said this, the Lightning Network is currently in the Beta stage and is being refined to provide just that. Bitcoin cheap and fast transactions already exist in wallets supporting LN, such as Phoenix, Breez and Blue wallet.

    Why does Bitcoin have value to you?

    submitted by /u/veganic11
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    WATCH Cramer talk OPENLY MANIPULATION starting at 7:42

    Posted: 30 Jan 2021 12:08 AM PST

    Chamath Palihapitiya: "Holding Bitcoin helps me sleep at night"

    Posted: 29 Jan 2021 09:20 PM PST

    GameStop Is The Market Crying Out For Bitcoin

    Posted: 29 Jan 2021 01:35 PM PST

    Bitcoin wallet made from mushroom mycelium

    Posted: 29 Jan 2021 09:26 PM PST

    It's a big club. And you ain't in it.

    Posted: 29 Jan 2021 08:59 AM PST

    The best time to buy Bitcoin was 2009...

    Posted: 29 Jan 2021 05:50 PM PST

    The 2nd best time to buy Bitcoin was 2010

    The 3rd best time to buy Bitcoin was 2011

    The 4th best time to buy Bitcoin was 2012

    The 5th best time to buy Bitcoin was 2013

    The 6th best time to buy Bitcoin was 2015

    The 7th best time to buy Bitcoin was 2014

    The 8th best time to buy Bitcoin was 2016

    The 9th best time to buy Bitcoin was 2017

    The 10th best time to buy Bitcoin was 2018

    The 11th best time to buy Bitcoin was 2020

    The 12th best time to buy Bitcoin was 2019

    The 13th best time to buy Bitcoin was earlier in 2021

    The 14th best time to buy Bitcoin is right now

    submitted by /u/ztsmart
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    Visa Could Add Crypto to Its Payments Network, Says CEO

    Posted: 29 Jan 2021 04:32 PM PST

    New Blockstream Satellite Updates

    Posted: 30 Jan 2021 02:05 AM PST

    Crypto holdings if Robinhood goes under?

    Posted: 29 Jan 2021 09:48 PM PST

    So, if RH files bankruptcy, SIPC protects securities up to 250k. Crypto is not a security though, and isn't covered by SIPC.

    That being said, they don't actually own any BTC- you're essentially just trading off of its volatility.

    So, what happens if Rh goes under and you hold crypto through them? Anyone know?

    Thanks!

    submitted by /u/Donexodus
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    If you join Bitcoin today due to Musk's tweet, remember to DCA!!!

    Posted: 29 Jan 2021 06:33 AM PST

    To all newcomers arriving in BTC-world today: don't go all in.

    Buy a little bit now, a little bit tomorrow, etc.

    You don't want to get burned on your frist day entering the crypto-world (yes, you may not get burned, but a retest of something like 35k is likely, so stay rational and dollar-cost-average).

    edit: thanks for the rewards. i think they are my first ones ;-)

    submitted by /u/saboshinagobongo
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