Yes, this is the correct process. Although I was told to not keep electrum and electroncash wallet on the same pc. That might be for general over cautious purposes though. https://electrum.org/bcc2.txt. I haven't heard any reports of lost BTC from users that used electroncash, so maybe it is safe.

I did the same process as you, but installed electroncash on a separate PC. You can also do it on a ubuntu live cd or something similar if you don't have access to a 2nd pc.

Not that difficult. Insanity lies in the eye of the beholder.

The more people use it for transactions, the more it becomes a currency.
(currently limited use as currency)

The more people "buy and hold", the more they are using it as a store of value.
(currently mostly used as store of value)

It's a process, things don't become one thing or another today. Over time you see what will happen while people today speculate on what they believe will happen.


It's that simple. You can create theories why both of those use cases will vanish and everybody will lose their money, but so far the numbers prove you wrong.

I'll ask you by which metric you'd decide that BTC is garbage, no currency, no store of value or whatever you believe to be "insane".
Also, provide a timeframe.

Otherwise people will think you're just a bitter person with some ideological propensity against crypto.

Hi there thanks for that information. Im curious but on the pc that you downloaded electroncash, do you still have it installed there or you removed it?

Also because you moved the btc from your old electrum wallet to the new electrum wallet, that means anything that happens with that old 12 word phrase doesn't matter right since your coins are no longer there? Im sure about this but just want to make sure of it. Thus if someone were to download the wrong eletroncash program on a different computer, well it wouldn't matter because the btc from the electrum the old wallet is already moved right?

And is there anyone here that has used the same computer where they use electrum and downloaded electroncash and not have any issue with it? I would like to know if more people did this or not because on one forum someone said they did this and had no issue so i like to know if anyone here has done this. That person mentioned you should have no problem at all as long as your btc is sent to the new electrum wallet on the same computer. Also im curious but for those people that do have bitcoin cash still... so basically you keep 1 computer for electrum and the other computer for bitcoin cash? Are there people here that have both electrum and electron cash on the same computer?

There’s literally no more marginfunding available to Long on finex rn. I’d be very very careful up here

If you are employed in a nice job, are there any good arguments against putting 80% of your savings into bitcoin? With projections of 200k/coin, it's very tempting. What do you guys think

the fomo is real

mainstream adoption boys: http://bigbangtheory.wikia.com/wiki/...n_Entanglement

Why so conservative?

Some people try to put their own view on what is "crazy" or "insane" on others. Instead, i'd say you should rather understand your needs, situation and risk appetite and you'll make a better decision for yourself than following a random number that random people throw out there.

If you have 50mil net worth and put 25mil into BTC, maybe you're crazy, but depending on your lifestyle needs it might not really matter so while people may not consider it disciplined investing, it's all monopoly money anyways.

If you have 50k net worth and put 25k into BTC, you're taking on a way bigger risk any way you look at it altho the % is the same than mr rich.

Another concept which has been written in this thread many times is that of marginal utility of money going down. Aka, your first million is 100x more valuable than the difference between 90 and 100mil.

Most importantly, understand those projections and what they are based on.
Aka, what has to happen in order for a certain price to be reached. Which value does it resemble.
The good thing about being invested into something is that you have an incentive to educate yourself about various topics.

It's actually the complete opposite. If you have 50mm and lose half donking around in Bitcoin, you will have a very difficult task easily replacing the 25mm you lost. If you have 50k and lose 25k, you can much more easily replace it from your job income. It might only take you a year of disciplined saving.

But do you really need to make back 25 mil?

Come on man, think like a rich person, not a broke person. If you have 50 million you probably did something astounding to get it. Why would you piss it away? If you think that going from 50mm to 25mm doesn't change your life utility, then by the same exact logic there's no benefit in going from 50mm to 100mm or beyond, so there's no need to speculate in Bitcoin to gain any more useless money.

the more dollars the higher your score is tho.

If your investable net worth is small compared to your income you should just put everything in whatever you think has the highest return potential. If that's bitcoin, then put it in bitcoin. If you have a lot of wealth to protect, you should probably diversify.

Pathetic performance by bitfinexed.

He’s even dumber than I imagined.

https://bitcoin.stackexchange.com/qu...rice-goes-down

can you get loans?

I'm trying to get some tax free exposure to bitcoin with my LIRA account (retirement account in canada)

GBTC is a mutual fund but I cant buy it through my bank. Some other brokers let me buy it but im not sure if they do it through a lira...have to make some calls.

Does anyone know other options?

Ive been looking up MOGO, which is a lender and digital wallet that is going to be adding crypto wallet alongside their normal wallet. ITs tiny so no idea if they are any good at anything. HAving a publicly traded company in CAnada that you can take a 6-8% loan and immediately park it in bitcoin, and probably use gains to qualify for a bigger loan...seems like something that could explode

there are some etfs that have a big chunk of gbtc in it...like 16% then the rest internet companies. cant remember which ones that wouldnt be bad i suppose.

anything else?

This is the exact opposite of the argument that gets bounced around in trading. If a super rich guy loses half his worth, he's still super rich. If a normal human loses half their worth, it can be a real set back.

I used Electrum and Electron on the same computer. When using both on the same computer:

The older/original version of Electron Cash used to automatically grab any wallet file in your electrum folder. So you should move any .dat files out of that location. The default location for electrum is Users\username\appdata\roaming\electrum\wallets

I'm not sure if the current version still does this. I think they removed that functionality due to complaints, but I'd rather be safe.

1) Create a new wallet file in Electrum and record the seed
2) Send a small amount of funds and test it for functionality
3) Test your new recovery seed for functionality
4) Move your wallet.dat files out of the Electrum folder and put them somewhere else
5) Download Electron Cash from the .org website - watch out for fake sites
6) Optional, but recommended: Verify the download of Electron Cash vs. the signatures on fyookball's github page. There's fake versions of electron cash floating around. Make sure you get the right, untampered version.
7) Put your old seed into electron cash. It will sync and your coins should show up.
8) Optional but recommended: create a new Cash wallet file & seed and send your coins there. That way you have bi-directional protection. Electrum developers can't steal your Cash, and Cash developers can't steal your BTC.
9) Restore your Electrum files to their original location.

After that, it should be relatively safe to run both electrum and electron from the same computer. For larger amounts, always use a hardware wallet, off-line computer, or paper wallet.

So what's worse, losing 25mm when you are worth 50mm or losing 10k when you are worth 10k?

Obviously the more money you have the less crucial each marginal dollar is to your standard of living and the closer your utility curve can match your expected return curve on investments, that's not the point. The point is that when you're talking about rather small net worths (sub-100k), losing some or even all is just not that damaging unless you somehow have essentially no job income. If you have 50k saved up would you risk it all starting your own business with a healthy chance of 100% loss? Many do every day, and many lose the 50k and then dust themselves off and go get a job. But would you risk 50mm on an investment with a chance of total loss if your net worth was 50mm? You'd be insane.

https://tether.to/tether-critical-announcement/

so is this why everything tanked simultaneously?

Yes

Hell no.

Tether still trading at 99c/1d

Too many ****ing people were Long from the top. I said this in the afternoon already. There was at one point 6m left to Long on bitfinex at 4pm or so.

Then cme delay news came out

1 leg down to $8100

Then we got the real margin cascade down.


#knew

Again.

Btc can drop 85% and still be up 10% on the year. This is clearly a bubble.

We desperately need to clear out some weaklings. Part of me hope we see 5k again.