Private and public keys - Deepstash
Private and public keys

Private and public keys

In Bitcoin, you have public addresses and private keys:

  • The public address is like an email address, where you can receive Bitcoin. It is safe to give someone your Bitcoin public address, if you would like them to send you some Bitcoin. A Bitcoin public address will look something like this: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy Your hardware wallet will be able to generate new public addresses whenever you need them.
  • A private key is like a 64characters password to your email. You would never share it with anyone. Looks like this: E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262

1

STASHED IN:

85

STASHED IN:

0 Comments

MORE IDEAS FROM A Beginner's Guide To Bitcoin

Bitcoin is better money

Bitcoin solves all of Gold problems.

  • I can hold my Bitcoin in self-custody, and no one can take it from me. I’m not dependent on a bank or other third party.
  • The Federal Reserve cannot devalue my savings that are held in Bitcoin. If the Fed prints more money, the price of my Bitcoin in US dollars will go up to compensate for this new money printing.
  • It’s also easy to send anyone some Bitcoin. No one can stop me from sending it or stop you from receiving it, even if they don’t like our political views.

6

STASHED IN:

85

Store of Value

A store of value is a way of transmitting wealth across space and across time. it is useful when you want to preserve the surplus value for future spending.

Gold 🪙 has historically been the defacto preserver of value. From the 70e however our money are no longer linked to gold so Central Banks are stealing our savings through money printing and inflation.

7

STASHED IN:

91

Bitcoin's low number of transactions may make it less suitable for daily transaction. It does not matter. “Bitcoin as store of value” Is what matters.

Like gold coins, Bitcoin is simply too valuable to be used in daily transactions. There is no reason that we will ever need to use Bitcoin to buy a cup of coffee. That transaction size is handled fine by Visa or in the future, central bank digital currencies (“FedCoin”) may provide the main payment rails for the financial system.

3

STASHED IN:

83

  1. Value your wealth in Bitcoin
  2. Dollar cost average into Bitcoin
  3. Never sell your Bitcoin
  4. Never trade in and out of Bitcoin
  5. Ignore the price of Bitcoin
  6. Not your keys, not your coins
  7. Never share your recovery seed
  8. Don’t advertise your Bitcoin holdings
  9. Ignore all other cryptocurrencies
  10. You can never be too bullish on Bitcoin.

6

STASHED IN:

87

One of the hallmarks of the “efficient market hypothesis” (EMH) is that current information and future information that is known today will get priced into an asset.

If everyone knows that Apple will beat earnings this quarter, those expected earnings will get priced into Apple’s stock even before earnings are actually reported. Likewise, if everyone begins to believe that there is a 50% chance that PlanB’s model will still be working well in 2028 the fair value or expected value of Bitcoin should be $1,500,000 today.

2

STASHED IN:

83

If you do not hold your own private keys, the Bitcoin is not really yours. If someone else holds your private keys (like PayPal, Robinhood, or any cryptocurrency exchange), you do not control your own Bitcoin. The Bitcoin does not truly belong to you. It can be lost, hacked, seized, or otherwise confiscated.

If you need to log in to an account to view your Bitcoin, it probably means that someone else is holding your private keys for you.

3

STASHED IN:

85

Plan B - a method to predict bitcoin value

Is a paper famous for coming up with a valuation got Bitcoin. It borrows the concept of “stock-to-flow” from precious metals analysts. “Stock-to-flow” (henceforth “S2F”) as a way of measuring the relative scarcity of a commodity. With the analogy the price of bitcoin is predicted to hit:

  • 2021: $100,000
  • 2024: $400,000
  • 2028: $3,000,000

8

STASHED IN:

87

Gold is not a perfect store of value:

  • It is difficult to transport. During wars many people lost theyir gold savings.
  • It's difficult to store. Special facilities are needed but even then history is filled with examples of government confiscations.
  • It's difficult to verify. Special knowledge is required to test the purity of the metal.
  • It's hard to divide.

7

STASHED IN:

84

Deepstash helps you become inspired, wiser and productive, through bite-sized ideas from the best articles, books and videos out there.

GET THE APP:

RELATED IDEA

Investing is not magic. Remember that ...

  • most people don't invest at all
  • 75% of new traders quit within the first 3 months. 
  • 90% of new traders quit within the first 6 months. 

If you can stick around long enough and keep learning, you will be successful at this game. Learn the basics and practice. 

71

STASHED IN:

671

Get started now

Browse here on the link 

STASHED IN:

4

What’s up, it’s @hackedongrowth here, As the globe continued to fight the epidemic earlier this year, something unusual began to happen. Bitcoin, the well-known cryptocurrency, began to appreciate in value.

STASHED IN:

0 Comments

What is Bitcoin (BTC)?

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created to allow “online payments to be sent directly from one party to another without going through a financial institution.”

6

STASHED IN:

30