What is a brain wallet?
A “brain wallet” is a method of cold storing crypto... in your head. Yes, there is such a thing, too 🙂
In order to create a brain wallet, you must come up with and memorize a lengthy phrase (at least 8 words), which is then hashed, from which you can derive the public and private wallet keys.
By using “brain storage,” you can keep this sentence entirely in your head and avoid having to write it down anywhere.
It’s a fun yet unsafe way to work with crypto:
▪️ First, to put it mildly, if something happens to the user’s brain, access to the wallet is lost forever.
▪️ Second, the phrase can be forgotten.
▪️ Thirdly, such phrases are much easier to hack than our usual seed phrases of 12 or 24 random words.
But there are also advantages:
You definitely don’t have to fear that someone will find your seed phrase written on a piece of paper and steal your crypto 😅
However, we must repeat: This is an unsecure method of storing crypto, and we don’t recommend it.
A “brain wallet” is a method of cold storing crypto... in your head. Yes, there is such a thing, too 🙂
In order to create a brain wallet, you must come up with and memorize a lengthy phrase (at least 8 words), which is then hashed, from which you can derive the public and private wallet keys.
By using “brain storage,” you can keep this sentence entirely in your head and avoid having to write it down anywhere.
It’s a fun yet unsafe way to work with crypto:
▪️ First, to put it mildly, if something happens to the user’s brain, access to the wallet is lost forever.
▪️ Second, the phrase can be forgotten.
▪️ Thirdly, such phrases are much easier to hack than our usual seed phrases of 12 or 24 random words.
But there are also advantages:
You definitely don’t have to fear that someone will find your seed phrase written on a piece of paper and steal your crypto 😅
However, we must repeat: This is an unsecure method of storing crypto, and we don’t recommend it.
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Warren Buffett inadvertently invested in Bitcoin (BTC) via Nubank🤷♂️
Warren Buffett, who, if you remember, said that Bitcoin was “probably rat poison squared,” made it to the crypto market after all!
In 2021, Buffett’s company, Berkshire Hathaway, invested $750 million in Brazilian bank Nubank, which also allows trading of BTC and other crypto.
Today, the value of the position has grown to $840 million, a figure that has eclipsed other large stakes in Buffett’s portfolio, including such titans as Amazon, Apple, Coca-Cola, Bank of America, and Kraft Heinz.
It’s ironic: Even though Warren hasn’t changed his attitude toward Bitcoin, he has still touched the crypto market, albeit indirectly.
If this continues, we’ll definitely see the world of traditional finance become tightly intertwined with crypto.
Warren Buffett, who, if you remember, said that Bitcoin was “probably rat poison squared,” made it to the crypto market after all!
In 2021, Buffett’s company, Berkshire Hathaway, invested $750 million in Brazilian bank Nubank, which also allows trading of BTC and other crypto.
Today, the value of the position has grown to $840 million, a figure that has eclipsed other large stakes in Buffett’s portfolio, including such titans as Amazon, Apple, Coca-Cola, Bank of America, and Kraft Heinz.
It’s ironic: Even though Warren hasn’t changed his attitude toward Bitcoin, he has still touched the crypto market, albeit indirectly.
If this continues, we’ll definitely see the world of traditional finance become tightly intertwined with crypto.
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Bitcoin vs. gold: Part 1
You’ve probably heard people refer to Bitcoin as digital gold many times. We’ve decided to create a series of posts explaining why people make that comparison, what BTC has in common with gold, and, most importantly, what advantages it has over the precious metal.
Today, let’s discuss the basic characteristics of these two assets: liquidity and availability.
Gold:
Although gold is widely recognized and traded around the world, it is quite difficult to physically own gold. Bullion needs special storage conditions; it’s hard to transport; gold is easy to counterfeit; and, let’s be honest, you don’t want to keep pieces of the precious metal in your closet.
We’re used to buying gold on the stock market, but obviously, owning a stock and actually owning the metal are far from the same thing.
Bitcoin:
Bitcoin has a definite advantage here: It’s extremely easy to access (anyone with an internet connection can buy it), and it’s easy to store by simply creating a Bitcoin wallet. At the same time, if you store BTC in a wallet, you clearly understand that you own the original asset, not a security, which is just a “representation” of the asset.
Both gold and Bitcoin are liquid: You can buy or sell as much Bitcoin and gold as you want at any time.
Unlike gold, though, Bitcoin has yet to prove its high liquidity over the long haul. It’s only been around for a little over a decade, while gold has been valued by people since antiquity.
You’ve probably heard people refer to Bitcoin as digital gold many times. We’ve decided to create a series of posts explaining why people make that comparison, what BTC has in common with gold, and, most importantly, what advantages it has over the precious metal.
Today, let’s discuss the basic characteristics of these two assets: liquidity and availability.
Gold:
Although gold is widely recognized and traded around the world, it is quite difficult to physically own gold. Bullion needs special storage conditions; it’s hard to transport; gold is easy to counterfeit; and, let’s be honest, you don’t want to keep pieces of the precious metal in your closet.
We’re used to buying gold on the stock market, but obviously, owning a stock and actually owning the metal are far from the same thing.
Bitcoin:
Bitcoin has a definite advantage here: It’s extremely easy to access (anyone with an internet connection can buy it), and it’s easy to store by simply creating a Bitcoin wallet. At the same time, if you store BTC in a wallet, you clearly understand that you own the original asset, not a security, which is just a “representation” of the asset.
Both gold and Bitcoin are liquid: You can buy or sell as much Bitcoin and gold as you want at any time.
Unlike gold, though, Bitcoin has yet to prove its high liquidity over the long haul. It’s only been around for a little over a decade, while gold has been valued by people since antiquity.
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📈BTC will reach $45,000 by the end of 2023 - Matrixport analysts.
"The BTC futures funding rate is exorbitantly high, signaling that the market is driven by FOMO. BTC dominance is 52.1% and trading volumes have risen to $29 billion in 24 hours.
Our target for 2023 is $45,000"
BTC will reach $45,000 by the end of the year?
👍- Yes.
👎 - No.
"The BTC futures funding rate is exorbitantly high, signaling that the market is driven by FOMO. BTC dominance is 52.1% and trading volumes have risen to $29 billion in 24 hours.
Our target for 2023 is $45,000"
BTC will reach $45,000 by the end of the year?
👍- Yes.
👎 - No.
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What is economists' sentiment about BTC ETFs? 👇
If SEC approves BlackRock's BTC-ETF, it could lead to the largest ETF launch in history -- Fundstrat
Approval of BlackRock's application for a spot BTC-ETF will lead to $30 trillion in inflows into BTC -- BBG chief ETF strategist Eric Balchunas
SEC likely to approve multiple spot BTC-ETFs at once, triggering the next rally in BTC - Maxiport
Approval of spot BTC-ETFs could trigger a new bull cycle in crypto - Bernstein
Current applications for spot BTC-ETFs from large funds point to a soon wider adoption of BTC - Novogratz
Some experts believe there are a bunch of geopolitical risks ahead, global recession, collapse of risk assets, continued bubble deflation - Bogdanoff
✅ Crypto Insights 📊💰🔹
If SEC approves BlackRock's BTC-ETF, it could lead to the largest ETF launch in history -- Fundstrat
Approval of BlackRock's application for a spot BTC-ETF will lead to $30 trillion in inflows into BTC -- BBG chief ETF strategist Eric Balchunas
SEC likely to approve multiple spot BTC-ETFs at once, triggering the next rally in BTC - Maxiport
Approval of spot BTC-ETFs could trigger a new bull cycle in crypto - Bernstein
Current applications for spot BTC-ETFs from large funds point to a soon wider adoption of BTC - Novogratz
Some experts believe there are a bunch of geopolitical risks ahead, global recession, collapse of risk assets, continued bubble deflation - Bogdanoff
✅ Crypto Insights 📊💰🔹
where does the idea of crypto came from?🧐🧐🧐
The idea of crypto traces its roots back to the enigmatic figure known as Satoshi Nakamoto, who published the groundbreaking whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008. Nakamoto's vision was to create a decentralized digital currency that would operate without the need for a central authority, such as a government or financial institution. By harnessing cryptographic principles and a distributed ledger called the blockchain, Nakamoto proposed a system where transactions could be securely recorded and verified by a network of participants, known as miners. This revolutionary concept laid the foundation for cryptocurrencies, inspiring a wave of innovation and the development of numerous alternative digital currencies and blockchain applications. Despite Nakamoto's identity remaining a mystery, the impact of their idea continues to resonate throughout the world, driving the ongoing evolution of the crypto landscape.
Tomorrow topic: How do crypto make people rich.?
The idea of crypto traces its roots back to the enigmatic figure known as Satoshi Nakamoto, who published the groundbreaking whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008. Nakamoto's vision was to create a decentralized digital currency that would operate without the need for a central authority, such as a government or financial institution. By harnessing cryptographic principles and a distributed ledger called the blockchain, Nakamoto proposed a system where transactions could be securely recorded and verified by a network of participants, known as miners. This revolutionary concept laid the foundation for cryptocurrencies, inspiring a wave of innovation and the development of numerous alternative digital currencies and blockchain applications. Despite Nakamoto's identity remaining a mystery, the impact of their idea continues to resonate throughout the world, driving the ongoing evolution of the crypto landscape.
Tomorrow topic: How do crypto make people rich.?
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How do people get rich with cryptocurrency?
#People can potentially get rich through cryptocurrency in several ways. However, it's important to note that investing in cryptocurrencies carries significant risks, and not everyone who engages in cryptocurrency trading or investing will become wealthy. The cryptocurrency market is highly volatile and unpredictable, and it's possible to lose money as well.
Here are some ways people have made money with cryptocurrencies:
1. Buying and holding: Some individuals have become rich by purchasing cryptocurrencies like Bitcoin, Ethereum, or other promising projects and holding onto them for an extended period. If the value of the cryptocurrency increases significantly over time, they can sell their holdings at a profit.
#People can potentially get rich through cryptocurrency in several ways. However, it's important to note that investing in cryptocurrencies carries significant risks, and not everyone who engages in cryptocurrency trading or investing will become wealthy. The cryptocurrency market is highly volatile and unpredictable, and it's possible to lose money as well.
Here are some ways people have made money with cryptocurrencies:
1. Buying and holding: Some individuals have become rich by purchasing cryptocurrencies like Bitcoin, Ethereum, or other promising projects and holding onto them for an extended period. If the value of the cryptocurrency increases significantly over time, they can sell their holdings at a profit.
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continued from yesterday✌️✌️
#How cryptocurrency make people rich part 2.
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2. Trading: Cryptocurrency trading involves buying and selling cryptocurrencies on various exchanges to take advantage of price fluctuations. Skilled traders can make profits by accurately predicting short-term price movements and executing timely trades. However, trading requires knowledge, experience, and careful analysis of market trends.
3. Initial Coin Offerings (ICOs) and Token Sales: In the past, investing in ICOs and token sales allowed individuals to acquire newly issued tokens at a lower price. If the project succeeded and the token's value increased, early investors could potentially make substantial profits. However, this area has become more regulated, and scams are prevalent, so caution is necessary.
We will continue the lesson😊
#How cryptocurrency make people rich part 2.
🔑🔑🔑💸💸💸
2. Trading: Cryptocurrency trading involves buying and selling cryptocurrencies on various exchanges to take advantage of price fluctuations. Skilled traders can make profits by accurately predicting short-term price movements and executing timely trades. However, trading requires knowledge, experience, and careful analysis of market trends.
3. Initial Coin Offerings (ICOs) and Token Sales: In the past, investing in ICOs and token sales allowed individuals to acquire newly issued tokens at a lower price. If the project succeeded and the token's value increased, early investors could potentially make substantial profits. However, this area has become more regulated, and scams are prevalent, so caution is necessary.
We will continue the lesson😊
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continued from yesterday✌️
#💸💸🔑🔑how cryptocurrency make people rich part 3
4. Freelancing and accepting cryptocurrency payments: If you possess valuable skills, you can offer freelance services and accept cryptocurrency as payment. Websites like Cryptogrind, Bitwage, and XBTFreelancer specialize in cryptocurrency-related freelance opportunities.
5. Become a content creator or influencer: Start a blog, YouTube channel, or social media profiles focused on cryptocurrencies. By creating valuable content and attracting an audience, you can monetize your platform through advertising, sponsored content, or affiliate marketing.
6. Participate in bounty programs: Many cryptocurrency projects offer bounty programs to incentivize community participation. Bounties can involve tasks like bug reporting, content creation, social media promotion, or translation work. In return for your contributions, you may receive tokens or rewards.
last lesson tommorow🤞🤞🔑🔑💸
#💸💸🔑🔑how cryptocurrency make people rich part 3
4. Freelancing and accepting cryptocurrency payments: If you possess valuable skills, you can offer freelance services and accept cryptocurrency as payment. Websites like Cryptogrind, Bitwage, and XBTFreelancer specialize in cryptocurrency-related freelance opportunities.
5. Become a content creator or influencer: Start a blog, YouTube channel, or social media profiles focused on cryptocurrencies. By creating valuable content and attracting an audience, you can monetize your platform through advertising, sponsored content, or affiliate marketing.
6. Participate in bounty programs: Many cryptocurrency projects offer bounty programs to incentivize community participation. Bounties can involve tasks like bug reporting, content creation, social media promotion, or translation work. In return for your contributions, you may receive tokens or rewards.
last lesson tommorow🤞🤞🔑🔑💸
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