Hooligans Sportsbook

Bitcoin-based online gambling

  • Start date •
  • Replies
    2,058 Replies •
  • Views 146,563 Views
Follow
I now have .02 bitcoin on my cellphone. Trying to figure out how I'm supposed to secure them or transfer them to a safe place, but getting nowhere. Apparently you can create some back up, but it seems like if you lose your phone someone can use them anyway :dunno:
 
that seems to be one of them hardware wallets. Still having a hard time comprehending how your key and the address work, and how various wallets would interrelate. I'm guessing HW would create a key offline, but you would get an address you could use online to transfer the coin to your key(?) ..then perhaps you can print out a key in case you lose your hw :dunno:

guess if you have your key you can use any wallet to retrieve it maybe ...getting closer. ...by the time I figure it out it bitcoin will cost 200k :sparesomecutter:
 
reno cool
that seems to be one of them hardware wallets. Still having a hard time comprehending how your key and the address work, and how various wallets would interrelate. I'm guessing HW would create a key offline, but you would get an address you could use online to transfer the coin to your key(?) ..then perhaps you can print out a key in case you lose your hw :dunno:

guess if you have your key you can use any wallet to retrieve it maybe ...getting closer. ...by the time I figure it out it bitcoin will cost 200k :sparesomecutter:
Click to expand...
This guy makes it easy
https://youtu.be/GPpZxOjvU10
 
Coinbase Ordered to Turn Over Identities of 14,355 Cryptocurrency Traders to the IRS

***

The requested records include the name, birthdate, address, and account activity for any user who bought, sold, sent, or received more than $20,000 worth of Bitcoin in their accounts between 2013 and 2015.

US citizens are supposed to pay capital gains tax on cryptocurrency transactions and the IRS labels virtual currencies as property for federal tax purposes.
 
yeah, I heard about that. Anyway, the exchanges make it too difficult. I like the atm, the fee is high though, maybe go person to person. Gonna print me out a paper wallet before buying anymore though.

Seems that if you avoid the exchanges everything can be pretty anonymous
 
yeah sure, which part? It took me a while, but the important thing to understand is that you have 2 codes, one is a public address and the other you have to keep secret, because anyone with access to it can use the coin in it. (and if it's lost the coin is lost).

..If you make a paper wallet lets say, there's no easy way for anybody to tell who's coin it is. You can give the paper(code) to anybody and it would become theirs, like cash. Problem is that if you made your wallet on the internet it could get hacked. The hardware wallet Expy was talking about is safe because the code is developed off line. (there are also ways, but more complicated, to make a safer paper wallet)

The exchanges keep the coins for you but they are regulated and go to extremes imo to verify your identity, and of course there's a record of all your transactions which they can give to whoever. And still they are not immune to getting hacked and losing all your coin
 
You must log in or register to reply here.