Zoomers, I need help with Bitcoin

[MoonmanJones]

Any validity to this:

US Homeland Security Can Now Track Privacy Crypto Monero - Decrypt

The popular privacy coin might not be so private anymore, as CipherTrace claims to have developed tools to trace it.

decrypt.co

According to Jevans, Monero tracing takes a different approach than Bitcoin tracing tools, and the results aren't quite as definite. Still, it gives law enforcement something that they can cross-reference with other data and resources to help conduct investigations.

"You can't be as deterministic as Bitcoin," he said. "In tracing Monero, it's really more of a probabilistic game. You can say: Well, I have 98% probability that this went from this address to this address, or 78%, or that type of thing. It takes a different approach, rather than [saying]: I'm going to guarantee everything is perfect..."

I'm not sure how it'd be possible. Each Monero transaction is basically a sender, a receiver, and a transaction amount, and each of those elements has a different gimmick obscuring it: "ring signatures", "stealth addresses", and "confidential transactions".

Monero - Wikipedia

en.wikipedia.org

Basically, each transaction is listed as coming from eleven possible senders (so that part should be more like 9% than 98%), the recipient should be impossible to determine without the recipient's private key (due to random numbers and elliptic curve math and such), and likewise the transaction amounts should be completely opaque on the public blockchain.

 

[8Man]

Any validity to this:

US Homeland Security Can Now Track Privacy Crypto Monero - Decrypt

The popular privacy coin might not be so private anymore, as CipherTrace claims to have developed tools to trace it.

decrypt.co

No, XMR is still secure... and topped $200. today
see: CipherTrace's Monero Tracking Tool Has Not Been Proven Effective
and: CipherTrace: We’re closer to cracking Monero’s privacy
also: Nobody can deterministically trace Monero transactions yet

 

[OculusDexter]

Kraken website says they are "not accepting new clients for a short period of time".

Try binance, bybit... I’m not sure whether FTX takes US customers now, but it is a good exchange. I am a bit conflicted about using FTX though because the owner is such a distasteful Jew. I’d rather use others.

 

[qanon]

@qanon - Small request: is it possible for you guys to put a QR code for the Monero address on the contributions page?

On a side note, I tried using an online XMR QR code generator, but it doesn't give the correct address. I wonder if the sites are programmed to auto-convert your address to an address for the SPLC or some other Jewish NGO. Or perhaps I am just doing it wrong.

I have requested AA grab this the next time he opens his XMR wallet.

 

[HeartAche]

I just bought a Ledger Nano S. I set it up and everything went well. I went to buy a small amount of bitcoin, the smallest required for a bank transaction, and I got kind of lost after that. I'm completely retarded when it come to these things, and it's kind of embarrassing. I went to buy it using a bank transfer, because my savings account is my bigger account, and it had less fees. Through the ledger live app, you can buy bitcoin directly using Coinify. Everything seemed pretty dummy proof, until I got to the end of the transaction. It gave me a bunch of bank details and told me to send a bank transfer to an account in the Netherlands. I hadn't entered any of my bank info at all, and I have no idea how to send a bank transfer. I didn't know what to do really, so I just cancelled the transaction.

Should I just transfer the funds I want to buy bitcoin with into my checking account and buy with my debit card? What's an easy way to do this? I'm so confused. 😩 plz help

 

[8Man]

Should I just transfer the funds I want to buy bitcoin with into my checking account and buy with my debit card? What's an easy way to do this? I'm so confused. 😩 plz help

See: How to send Monero to DailyStormer. Find the Changelly.com section where it shows you how to do it with your credit card.

 

[HeartAche]

See: How to send Monero to DailyStormer. Find the Changelly.com section where it shows you how to do it with your credit card.

I do want to give Anglin some money. He definitely deserves it, and I feel like I owe it to him. I also want to own more than one cryptocurrency as well. But I was just asking the question in general. I want (within the next week or so) to put a decent amount of my money into bitcoin and keep it on my cold storage wallet so it can grow. I have a decent sized savings account, but it isn't doing me any good just sitting there.

So my question pretty much boils down to: should I just take the easier, faster, but more expensive route, and buy the bitcoin (for me to keep) with my debit card?

 

[8Man]

I want .. to put a decent amount of my money into bitcoin and keep it on my cold storage wallet so it can grow.
I have a decent sized savings account, but it isn't doing me any good just sitting there.

Keeping crypto in a cold storage wallet is probably the safest, but the only 'growing' it can do is appreciate against your local fiat.
If you want it to 'grow' (accrue up to 17% per year in addition to price appreciation) consider spreading it around between the following:

• APYHarvest
• BlockFi
• Celcius
• Hodlnaut
• Nexo.io Earn
• SwissBorg
• YouHodler

The most aggravating part of the process is getting your funds out of fiat and into crypto. You don't have to convert back to fiat to spend it. There are credit cards that let you spend your crypto directly.

 

[HeartAche]

Keeping crypto in a cold storage wallet is probably the safest, but the only 'growing' it can do is appreciate against your local fiat.
If you want it to 'grow' (accrue up to 17% per year in addition to price appreciation) consider spreading it around between the following:

• APYHarvest
• BlockFi
• Celcius
• Hodlnaut
• Nexo.io Earn
• YouHodler

The most aggravating part of the process is getting your funds out of fiat and into crypto. You don't have to convert back to fiat to spend it. There are credit cards that let you spend your crypto directly.

Nice. Thanks for the info. I appreciate it.

 

[OculusDexter]

Nice. Thanks for the info. I appreciate it.

These are good services to check out, but you need to get through the basics first.

If you don't want to waste tons of money on fees, I suggest doing this:

• Sign up for an account with an exchange like Coinbase, Gemini, or Kraken, etc.
• Enter your bank info as a funding source in the exchange. For example, Coinbase allows free ACH transfers from checking accounts. All you need to do is enter the routing and account numbers.
• Transfer some USD to the exchange.
• Buy some bitcoin on the exchange.
• Withdraw the bitcoin to your ledger.
  • Go to the wallet and "withdraw" page in the exchange.
  • Choose 'max' for the amount.
  • Go into ledger live on your desktop, go into your bitcoin account, hit receive, check the receive address on the ledger device, then copy and paste the receive address into your withdrawal page on the exchange.
  • Execute the withdrawal. You should see the transaction in a little while in ledger live.
• If you get worried the transaction isn't showing up, find the transaction ID No. in your exchange's withdrawal history records and paste it into a blockchain explorer like mempool.space. It will show you whether the transaction has been sent and whether it's been confirmed yet.

Then you have your own bitcoin in your hardware wallet for safe-keeping.

You can also use the ledger with Monero, but it's a bit of a pain and likely not worth it. When you want to contribute Monero, do this`:

• Go to changenow.io and set up a trade of Bitcoin (BTC) --> Monero (XMR).
• Get a bitcoin receive address to paste in for the 'refund address' from ledger live on your desktop.
• Get a monero receive address to paste in from the Exodus mobile wallet to receive the monero.
• Send an amount of bitcoin to the address provided by changenow for the trade, making sure to verify the info on your ledger.
• The monero should show up in Exodus in a bit.

Then you can just scan the QR code on DS to donate monero from Exodus.

 

[inherented]

Is there any reason not to sign up for Binance for fiat->crypto purposes?

 

[HeartAche]

These are good services to check out, but you need to get through the basics first.

If you don't want to waste tons of money on fees, I suggest doing this:

• Sign up for an account with an exchange like Coinbase, Gemini, or Kraken, etc.
• Enter your bank info as a funding source in the exchange. For example, Coinbase allows free ACH transfers from checking accounts. All you need to do is enter the routing and account numbers.
• Transfer some USD to the exchange.
• Buy some bitcoin on the exchange.
• Withdraw the bitcoin to your ledger.
  • Go to the wallet and "withdraw" page in the exchange.
  • Choose 'max' for the amount.
  • Go into ledger live on your desktop, go into your bitcoin account, hit receive, check the receive address on the ledger device, then copy and paste the receive address into your withdrawal page on the exchange.
  • Execute the withdrawal. You should see the transaction in a little while in ledger live.
• If you get worried the transaction isn't showing up, find the transaction ID No. in your exchange's withdrawal history records and paste it into a blockchain explorer like mempool.space. It will show you whether the transaction has been sent and whether it's been confirmed yet.

Then you have your own bitcoin in your hardware wallet for safe-keeping.

You can also use the ledger with Monero, but it's a bit of a pain and likely not worth it. When you want to contribute Monero, do this`:

• Go to changenow.io and set up a trade of Bitcoin (BTC) --> Monero (XMR).
• Get a bitcoin receive address to paste in for the 'refund address' from ledger live on your desktop.
• Get a monero receive address to paste in from the Exodus mobile wallet to receive the monero.
• Send an amount of bitcoin to the address provided by changenow for the trade, making sure to verify the info on your ledger.
• The monero should show up in Exodus in a bit.

Then you can just scan the QR code on DS to donate monero from Exodus.

Thanks, bro. My brother-in-law was telling me that this was the easiest way to do it as well. Thanks for the step-by-step process.

 

[baronhorror]

I don't like the coinstar registration process. In addition, it is difficult to update your personal details after you register.

You might have a better time buying an Amazon gift card and then signing up to a crypto market website. You can buy crypto from a seller via the market site with the gift card, then donate with your newly purchased crypto. A good crypto market site will allow the purchase of crypto via additional payment methods like Paypal and bank account transfer.

Not a difficult topic after you get past the hassle of registration.

 

[hiking]

These are my opinions..
Crypto Wallets:
I've used a few software wallets including Enjin, Etherum, Keplr, Opensea, Exodus. Exodus works best for me. As they say coins on any exchange are not yours, put them in a wallet.
Exodus wallet - Free software wallet with a a few APY options. https://www.exodus.com/

Crypto Exchanges:
You will have to submit photo ID etc. Trading in cryptocurrency is a taxable event must be reported.

Coinbase - Simple and easy to use. Offers Coinbase pro where you can actively set buys and sells. Has higher trading fees that scale down as your volume of trades increase. Very good choice for beginners. Offers a few APY's on coins held. Will be offering a debit card soon.
Binance - can only send funds in crypto not cash. For medium to advanced users. Overall good experience. Their BNB currency had a good return (APY) and could be used to reduce trading fees.
Kraken - Terrible! Avoid at all cost. It took me months to get my funds out. Their "pro" trading app is wonky and will give you errors if you change your buys or sells too often. Several times the site went down during key trading periods costing me a few bucks. They did reimburse me for their site going down which was nice.
Crypto.com wallet with an exchange. I noticed their crypto purchase price is at market rate but when you sell it's $.03 or less than market rate. Offers a debit card if you hold enough of their currency. Also spend in their currency. Customer service has not been good. Their phone app is a little slow and wonky.
Nexo wallet with an exchange. I will be avoiding due to being located in the UK and a policy of when your account reaches zero they will automatically take out a loan on your behalf. Good APY on some stable coin, if you hold their Nexo coin they offer a once a year dividend payment.

Cryptocurrency:
BTC Bitcoin is slow to send. The only thing going for BTC is it being the "Coke" of crypto. Being Coke may just be enough. capped at 21m.
ALGO - Fast transmission. You don't have to lock in a stake to collect an APY (Coinbase offers 6% APY), I hear it's now being used for NFT purchases. 10b cap. In my opinion I'd grab some for $1 or less and HODL (Hold).
XTZ Tezos Ok transmission speed, a little confused about the direction of the project. I believe the total amount is uncapped.
ATOM - Cosmos lof of buzz about development on this project. Had a good APY that is decreasing. Exodus wallet has a 30day staking, Coinbase doesn't but has a lower 5% APY. I believe uncapped.
XMR - Monero privacy based. I think it's uncapped.
MKR - Governance tied to stable coin DAI. Capped at 1,005,577!
Lot of shit coins out there. Readup on them before investing. I prefer capped coins to hold as the total amount can't go up causing deflation in price. For a spending cryptocurrency I'm waiting to see who replaces the dollar. "How many doge for this coat?"

Trading vs. Speculation:
If you want to make informed buys learn Trade Analysis and mark up a chart at Tradingview for free. Sometimes my TA is so precise I've bought coin lower than the reported daily candle low. BE VERY CAREFUL of following other people's charts. Learn from their strategies then do your own analysis.

TradingView – Track All Markets

Where the world charts, chats and trades markets. We're a supercharged super-charting platform and social network for traders and investors. Free to sign up.

www.tradingview.com

Read up on trading tactics. Experienced traders know how to read and follow trends.

Playing the Gap

Disruptions in stock patterns are known as gaps. Learn how you can earn money by analyzing these disruptions in normal price patterns.

www.investopedia.com

This guys a little dopey but his advice is correct and it's easy for beginners to understand Swing Trading:

Observations on the crypto market:
I've watched all crypto rise and drop in price. Many suspiciously raise and drop almost exactly the same at the same intervals. I've noticed 2 distinct patterns many of the crypto I watch fall under. One group follows BTC's trends. There is a season for prices so wait for the right time of year to buy. Do not FOMO (Fear of missing out)! We may be hitting a buy period in the next couple days to next month. You'll know it because everyone will be freaking out saying the market crashed.


*Not trading or financial advice. For entertainment purposes only.

 

[Lauri Niskanen]

These are my opinions..
Crypto Wallets:
I've used a few software wallets including Enjin, Etherum, Keplr, Opensea, Exodus. Exodus works best for me. As they say coins on any exchange are not yours, put them in a wallet.
Exodus wallet - Free software wallet with a a few APY options. https://www.exodus.com/

Crypto Exchanges:
You will have to submit photo ID etc. Trading in cryptocurrency is a taxable event must be reported.

Coinbase - Simple and easy to use. Offers Coinbase pro where you can actively set buys and sells. Has higher trading fees that scale down as your volume of trades increase. Very good choice for beginners. Offers a few APY's on coins held. Will be offering a debit card soon.
Binance - can only send funds in crypto not cash. For medium to advanced users. Overall good experience. Their BNB currency had a good return (APY) and could be used to reduce trading fees.
Kraken - Terrible! Avoid at all cost. It took me months to get my funds out. Their "pro" trading app is wonky and will give you errors if you change your buys or sells too often. Several times the site went down during key trading periods costing me a few bucks. They did reimburse me for their site going down which was nice.
Crypto.com wallet with an exchange. I noticed their crypto purchase price is at market rate but when you sell it's $.03 or less than market rate. Offers a debit card if you hold enough of their currency. Also spend in their currency. Customer service has not been good. Their phone app is a little slow and wonky.
Nexo wallet with an exchange. I will be avoiding due to being located in the UK and a policy of when your account reaches zero they will automatically take out a loan on your behalf. Good APY on some stable coin, if you hold their Nexo coin they offer a once a year dividend payment.

Cryptocurrency:
BTC Bitcoin is slow to send. The only thing going for BTC is it being the "Coke" of crypto. Being Coke may just be enough. capped at 21m.
ALGO - Fast transmission. You don't have to lock in a stake to collect an APY (Coinbase offers 6% APY), I hear it's now being used for NFT purchases. 10b cap. In my opinion I'd grab some for $1 or less and HODL (Hold).
XTZ Tezos Ok transmission speed, a little confused about the direction of the project. I believe the total amount is uncapped.
ATOM - Cosmos lof of buzz about development on this project. Had a good APY that is decreasing. Exodus wallet has a 30day staking, Coinbase doesn't but has a lower 5% APY. I believe uncapped.
XMR - Monero privacy based. I think it's uncapped.
MKR - Governance tied to stable coin DAI. Capped at 1,005,577!
Lot of shit coins out there. Readup on them before investing. I prefer capped coins to hold as the total amount can't go up causing deflation in price. For a spending cryptocurrency I'm waiting to see who replaces the dollar. "How many doge for this coat?"

Trading vs. Speculation:
If you want to make informed buys learn Trade Analysis and mark up a chart at Tradingview for free. Sometimes my TA is so precise I've bought coin lower than the reported daily candle low. BE VERY CAREFUL of following other people's charts. Learn from their strategies then do your own analysis.

TradingView – Track All Markets

Where the world charts, chats and trades markets. We're a supercharged super-charting platform and social network for traders and investors. Free to sign up.

www.tradingview.com

Read up on trading tactics. Experienced traders know how to read and follow trends.

Playing the Gap

Disruptions in stock patterns are known as gaps. Learn how you can earn money by analyzing these disruptions in normal price patterns.

www.investopedia.com

This guys a little dopey but his advice is correct and it's easy for beginners to understand Swing Trading:

Observations on the crypto market:
I've watched all crypto rise and drop in price. Many suspiciously raise and drop almost exactly the same at the same intervals. I've noticed 2 distinct patterns many of the crypto I watch fall under. One group follows BTC's trends. There is a season for prices so wait for the right time of year to buy. Do not FOMO (Fear of missing out)! We may be hitting a buy period in the next couple days to next month. You'll know it because everyone will be freaking out saying the market crashed.


*Not trading or financial advice. For entertainment purposes only.

I love your avatar. It strikes out more immediately than any other random palette. Nigga got talent, respex.

 

[SNESChampion]

Just a quick note to @Andrew Anglin coupled w/ request for info.

I was going to make a donation via Monero, but a problem that came about months ago persisted, and that is I literally cannot buy from any brokers. I've tried virtually every one - Kraken, eToro, Gemini - and there is always some obstacle wherein it won't let me purchase. I had a Coinbase account, but that cellphone was destroyed (literally fell into a frozen pond this winter) and Coinbase has no means of reactivating an account when you have 2-factor authentication tied to the phone (thank God my BTC was in my personal wallet and not at Coinbase).

So I was going to make a $50 donation, but I cannot do so. I believe I might use that literal postal mailing service Anglin wrote about in his guide to Monero on the front page.

 

[inherented]

Just read the thread. So the consensus seems at this point may as well register on a basic KYC compliant big exchange, submit and give them your iris scan, fingerprints, DNA sample and pound of flesh, and then just exchange whatever coin to monero for spending/donating to things on which you want to maintain privacy? If so, as US citizen, is Kraken recommended over coinbase/gemini?


Are HODL HODL, Bisq, and LOCALCRYPTOS or any other priavcy-upholding fiat to crypto exchanges as of now that can be recommended?

@SNESChampion

did you try the instructions mooman gave you on the other page? https://gameruprising.to/index.php?threads/zoomers-i-need-help-with-bitcoin.3097/page-7#post-375311

 

[inherented]

thanks for the non replies niggers. WEll here's something I saw recently that pertains to my above post, maybe it'll give some more room to reply with

I recommend coinbase pro. Not coinbase, but coinbase pro. This is an important distinction (even though it's the same company) because coinbase pro has significantly less fees. I forgot the exact math, but for something like $100, coinbase takes like $10...but coinbase pro it's like 50 cents.
Coinbase also just IPO'd so it's officially a major public company. In addition, your money on there is secured up to 250k just like in a bank. You are only taxed when you sell or trade, not buy. So while coinbase pro will have your details...which I think is ok, it's like vanguard or blackrock having your details. The issue really comes when cashing out. Cause that's where you'll be taxed. You can always send your crypto to a different exchange and claim you lost it trading which they cant prove. Or more like to a wallet and then to an exchange. But I personally have a different take on this matter. Right now the battle is between Binance (Chinese owned) and Coinbase (USA owned). There is about 2 trillion in the crypto market atm and it's only expected to grow. There is no way the Jews of murica are going to let China capture most of this money exchange. Coinbase also serves as an idiot-proof platform because they only pick non-scam projects. With that being said, you will have to use metamask to find shitcoins for potential 100x's as coinbase tokens are already pretty much solidified. Not that I'm saying they are bad, just safe, or rather more secure.

You /biz ratio is 1BTC, 32 ETH, 1,000 LINK. That is about as safe as you can get. This is actually what I'm currently working on. I'm personally a big believer in LINK but you would have to browse /biz to learn why. I highly recommend you start going on /biz and lurking there for a while. A lot of /pol users went to /biz. I think you can find a home there.

I can go on and on and running out of space. I wish I could tell you all the info I know. Look into DeFi yield farming for 100-300% APYs. Yes 3 digit APYs.

not endorsing any of this just quoting another source

 

[Smitz]

Are HODL HODL, Bisq, and LOCALCRYPTOS or any other priavcy-upholding fiat to crypto exchanges as of now that can be recommended?

Based on your questions, it sounds like you've done your due diligence, so good job.
To answer your question: Yes, those are highly recommended. Localmonero.co is a favorite of mine and dailystormer's, as Monero is the most private cryptocurrency. After acquiring Monero, you could potentially swap it for other currencies.

Bisq and Localcryptos are great/similar peer-to-peer options, and offer other (non-Monero) currencies. Last I checked, hodl hodl is not available in the U.S.

To get started, you may need to invest a little more time to learn how to use these exchanges (compared to the more popular exchanges like Coinbase/Gemini), and pay a little higher exchange rate. Anonymity comes at a premium, unfortunately.

...the consensus seems at this point may as well register on a basic KYC compliant big exchange, submit and give them your iris scan, fingerprints, DNA sample and pound of flesh, and then just exchange whatever coin to monero for spending/donating to things on which you want to maintain privacy? If so, as US citizen, is Kraken recommended over coinbase/gemini?

This is the easier option. Most people I know opt for Coinbase/Gemini, but as you know, there will be a paper trail back to your identity for every single transaction. The IRS works with these exchanges. Even if you moved the coins to a wallet or swapped them for Monero, the IRS will know you spent $xx on 04/25/2021 or whatever. Public blockchains can be further analyzed if you are a high-value target.
Kraken offers significantly more currencies than Coinbase or Gemini, but last I checked Kraken does now allow ACH bank transfers, so you'll have to transfer some cryptocurrency there, unless you're willing to pay high wire transfer fees.


It all boils down to how much effort you're willing to invest for anonymity.

If you are still interested in complete anonymity, here is a related thread that I found most enlightening:

The hammer is coming down on Bitcoin

With Biden the situation gets worse, but the writing has been on the wall for a while now. If Bitcoin falls, they all fall - Monero won't save you. Chainalysis had a 30 minute seminar detailing how they track the Daily Stormer (and similar sites). They said it was one of their most requested...

gameruprising.to

 

[Smitz]

On the subject of swapping/exchanging one cryptocurrency for another:
Don't start with BTC or an ETH-based token. Those all have high network/transaction fees. Instead, purchase cryptocurrencies with low fees, like XMR, LTC, XTZ, XLM, etc., then use those to swap for the desired cryptocurrency.

 

[inherented]

Thank you Smitz, I appreciate the practical information.

It has been the prying verification process of the exchanges that has put me off from getting involved in this. I suppose I could buy a burner phone for the 2FA SMS because I don't want my personal number associated with this, but what point is it after the SSN, address, and bank account info you give to them. It's just too much.

Whatever. If there's some coin that everyone should be banking in, well, post it I suppose. Maybe it'll be worth the pound of flesh you give to these exchanges (and whatever data miners they share their info with).

 

[8Man]

It has been the prying verification process of the exchanges that has put me off from getting involved in this.

Yes. A lot of people think of the KYC process as a 'vaccination' pass to get involved with cryptocurrencies. If you haven't done the KYC thing, you still have options that disappear once you give your data away.
Once one exchange has your KYC data expect and plan that that data will be shared with your tax agencies and possibly 'inadvertently' circulated on the dark web at some point.

Unfortunately, expect to pay a premium for not complying with the KYC/AML expectations.

Additional resources:

• KYC, Not me!
• No KYC Exchanges List
• How to use DeFi anonymously
• 5 Great Crypto Exchange Platforms that Don’t Require KYC Verification
• How to use a Certified Mail Receipt when buying non-KYC Bitcoin with US Postal Money Orders

Come on in.. there's some amazing financial artistry being performed.
ex: can this crypto give you 8.85 million % APY?
or: why you might want a self-repaying loan?

 

[Harvey_birdman]

I’d like to send $5 on a monthly basis but Exodus has a steep minimum to exchange Bitcoin to monero. Any suggestions on easy way to exchange small amounts?

 

[DVD]

I’d like to send $5 on a monthly basis but Exodus has a steep minimum to exchange Bitcoin to monero. Any suggestions on easy way to exchange small amounts?

Maybe just set the money up to go to a different bank account of yours then donate from that account as often as it goes over the limit?

Buying larger amounts is better anyway because theres a larger money/fee ratio

 

[Harvey_birdman]

Maybe just set the money up to go to a different bank account of yours then donate from that account as often as it goes over the limit?

Buying larger amounts is better anyway because theres a larger money/fee ratio

I see your point. I had wanted to follow his request to send a regular amount each month. I’ll have to just send him for the whole year again.