WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter
@@RearAdmiralTootToot I understand where you are coming from. If I were completely ignorant I’d probably say the exact same thing. There are multiple ways I can buy things directly with Bitcoin at this very moment from Amazon gift cards to cars and all from legitimate websites. This ain’t the Silk Road. Let me give you a few - Microsoft, Overstock, Amazon, I could literally go on for pages. But keep telling yourself that buddy it helps people to see the mindset of a boomer bound to fiat.
When describing and suggesting p2p use of btc, it might be helpful to add " just like you do now with a $20 bill, which is a p2p system we have used for a few hundred years". Ie: p2p is not a sneaky idea; it's the way we live and spend now.
I don't like that analogy because it can lead people to believe that only government-issued money is real money. Also USD not a bearer asset, but a liability of the central bank. But you are right about the privacy of physical cash
Another great video, Matt. Additionally, people need to remember that peer-to-peer exchange is important. Even back in 2008-2010 Satoshi and others spoke about exchanging for fiat using escrow, which basically later became what we now know as bisq.
Bitcoin Beach and Jungle work because Bitcoiners invested their bitcoin in local businesses. If they just held it, they wouldn't be there. We must trade some long-term wealth potential for more users.
Great point about government actors getting on board. I've been saying for years that the worst fear of the Banksters is their minons leaving the fiat plantations for BTC's greener pastures.
We the People still do it backwards....they work for us...not the other way around. We tell them we want BTC and dont touch it. Crypto holders...especially the red/blue voters...stop being sheep...please.
Matthew, would you ever consider doing a life advice video relating to what Nomad Capitalist touches on in their videos? It really seems like in 10-15 years from now bitcoiners will want to 1) flee to countries with governments that are less powerful/more BTC friendly and 2) potentially renounce citizenships, especially for US citizens. In light of the recent proposals around capital gains, it seems like best case scenario is that govts try to hike up cap gains taxes on Bitcoin and Bitcoin alone. At worst, they’ll move to confiscate. It legitimately might be ideal to renounce while still below the exit tax threshold and move somewhere else.
What countries come to mind at this time? I speak Spanish and I look at El Salvador however governments can change, and that's the risk I'm trying to measure.
@@BTCforce Yes, it seems like it’s truly the only path forward. If you’re a true HODLer I don’t think it’s worth keeping your US citizenship. It only leaves you with undue risk. As long as you’re a citizen, and even if you’re not one (RIP Roger Ver), the US will try to come after you. We can talk about them not having a right to all we want, but we all know they will if they deem HODLers a political enemy. I really think Matt should do some episodes around citizenship, renunciation, and even some specific countries to move to. Many HODLers will reach the exit tax threshold within the next 5 years
Do it NOW. Other residencies and citizenships are a must have urgently. Regulatory arbitrage is a only way to have a decent life, even today. Unfortunately for those who are U.S. citizens it’ll implicate in maybe renounce. If that’s the case, so it be. I have 2 citizenship living in a third country (because an EU citizenship). Dig your family tree and try to find any Italian, German, Spaniard or Portuguese ancestors. Maybe other EU nationalities too. Don’t wait.
Yeah but the real exit is the banks. Younwill get fiat if anything. The Rothschild bitcoin isn’t meant for goy to be successful but enslaved. Know history or no future.
Hi Matthew, can you please make a long form video going into detail about your background, and detail your bitcoin journey up to current day. As a viewer of every one of your videos, i'd love to hear more about you and your journey. Love from Ireland!
Hey Matt, What is the privacy issue when transferring funds from hot wallet to a long term cold storage? Why buying from exchange is safer than from apps like strike? Thanks, Janne
Exactly the video I was waiting for Matt, thank you. If the exchanges are shut down, or if the US and EU collectively 'banned' BTC, how is that likely to affect the price? I could imagine it could shake the market enough to deter new buyers and send its value into a downward spiral.
seconding this. the whirlpool servers were only hosted by Samourai, correct? i've got UTXOs that were supposed to mix to my cold storage after a number of rounds, now I can't really move them from my hot wallet without paying fees.
Sidechains like Liquid are way more private. And easier to use. You can send a bitcoin from liquid to lightning or to on chain again with no drama. There’s a new walls called AQUA which handle it quite well. I’d advice to use Green Wallet and Jade, just to guarantee your side chain funds are secured by a hardware wallet device.
I think a part of bitcoin's value is its liquidity, provided by exchanges. If they close, you lose liquidity, and market value information. If exchanges start to close, I'd bet the price would plummet on remaining exchanges as people rush for the real exit.
Thanks Matt. Perhaps in a future video, can you comment on the advantages and disadvantages of Capital Gains Tax on Bitcoin? I rarely hear anyone discuss how it is a tax on buying fiat, and how it incentivizes hodling
Let‘s be honest: If that were to happen, then yes, Bitcoin would still work and could be transferred peer to peer but it would completely kill adoption and tank it’s price in Fiat which is important to most people as long as we live in a Fiat System. It would be as interesting to the general public as Monero is now. Bitcoin mainstream adoption needs to keep growing like it did since it’s birth and if it doesn’t, it failed. Maybe it will be re-discovered in a future with less authoritarian governments but for our lifetime it would not have succeeded.
Do you really believe that freedom money will trade at a discount to slave fiat money? What happened to the prices of gold and pot when they were banned in the US?
Please address the concerns of retirees. Retiree savings are largely (by far) in IRAs. For example, would you recommend cashing out a Roth and converting the cash to BTC in a hard wallet?
It’s like all kinds of money that I have $250 fees out of nowhere. More and more your video show how easy it is for the government to just say hey give me all your bitcoins.
Hi Matthew, this is the best money in the solar system T-shirt guy. I’m wondering if you could do a special video instructing first time bitcoin buyers how to do simple things like how to buy $100 a month of bitcoin or some very low quantity. How would you recommend that… And then if there’s a minimum bitcoin purchase quantity that you recommend to improve or reduce the ratio of Bitcoin purchase amount to exchange fee per purchase… And also where to keep those small amounts of bitcoin which cold wallet or method would you recommend… And finally any other thoughts on micro bitcoin beginners they’re just starting out and only have $50 to $200 a month budget to dollar cost average into the BTC economy. thank you
how you even meant to keep track anyhow if spending in bitcoin, if I buy a coffee for £3.5 how do I even know I am spending bitcoin which cost me £8k per bitcoin or bitcoin which cost me £50k per bitcoin? know what I mean?
Matthew do you still recommend any updated coin join options on your course? Also do you see a future where i would be able to buy a home with BTC without exchanging to fiat? I understand the importance on BTC but im losing hope that the average person will take the time to understand this stuff and therefore might take a failing government and economy for them to actually see the value. It’s quite depressing.
Wouldn't everyone just move to peer to peer exchanges if that happened? I assume p2p is hard to stop for the same reason torrent sites are. How am I supposed to keep track of which btc I bought when and what the price was then and is now? I could never figure that out that's craziness.
Can you talk more about how coinjoin works. The types, the risks, user gains, etc. I'm just wondering, if i had 10 coldcards creating new addresses for every incoming transaction, could I self coinjoin?
Matthew: "What good will self- custody be if there's no way to use your Bitcoin to pay bills or buy things?" I know you likely get the suggestion I'm about to make often but I think it's important to reiterate the point -- Bitcoin University, Satoshi University. Word utilization matters. Satoshis are what's relevant to most people, especially re paying bills and buying things. Shouldn't you be using "satoshis" in such situations, not "bitcoin" simply from a specificity perspective? And wouldn't "Bitcoin University, Satoshi University" be a more appropriate name for the channel? Thanks for all you do, bruh. You've been *incredibly* helpful and consistent.
The one thing that keeps me from using bitcoin for daily purchases are the tax implications. I don't understand it well enough currently. Not sure how to address my ignorance. Perhaps you could do a video about taxation and how to address concerns such as those i have raised?
its not true that u can buy goods and services with BTC. Very few retailers accept it, and it wont be accepted world wide, even if it is in US. There will be dozens of countries never accepting BTC for goods.
I want you to buy Jade hardware wallet from the manufacturer but their site lists retailers. That introduces extra risk that a third party might tamper with it before it gets to me.
Could you explain this in more detail (at 7:37 min) - "and make sure to never do transactions between this hot wallet and your cold storage directly, for privacy reasons". How should we transfer money between a hot wallet and cold storage?
@@AlphaMikeFoxtrot88 Just remember that every transaction you make with bitcoin is traceable. If you don't want there to be a connection between two wallets then you shouldn't send bitcoin between those two wallets. You used to be able to put your coins into a "mixer" that would erase or at least blur the transaction history but as Matt said in the video, it is more difficult these days to find legit mixing services. Careful here, because if you try to mix Bitcoin with a fake mixer you could lose your Bitcoin.
Thanks Matthew. I posed a similar question in response to yesterday's video, and you touched on it here, sorta, but I think is still the elephant in the room (at least for US citizens..) KYC. I feel like I should sell all my KYC coins and slowly buy back in using other means because if these things you warn of come true, KYC coins in self custody will be useless. Am I wrong?
You can send and recieve it all you want. The problem is, what's the market price? All the Bitcoin you get paid with had a market price associated with it.
Love your videos, Matthew. Over time you have convinced me to ditch and forget other shipcoins and just go all in on BTC. I wanted to ask if you could do a video on a longer term plan for passing your BTC down to your children. How do we handle BTC after death? Should we leave private keys encoded in a Will or with a lawyer (could be risky), and what are your thoughts on Bitcoin lost forever when someone passes away, no one can access their wallets?
Do you have a video discussing the likelihood of world adoption of BTC as our new monetary system that replaces fiat? If not, would love a video on this! I mainly want to know why you’re so confident that it’ll overtake fiat and not coexist like how gold currently coexists with fiat.
Can you create a video about the leaked q* (q-star) document om 4chan that talks about how the NSA with openai have a super powerful AI that was able to decrypt AES-128 and potentially SHA-255 and what that would mean for the future and security of crypto?
There are a thousand of exchanges around the world. As p2p user who faced a kind of an exchange ban, we know there will always be one. Because of lucrative business opportunity to always exist even from obscure corner of the world especially tax havens.
The answer seems obvious. What happens to any fiat currency when a better adopted currency can no longer be exchanged into it? Simple. People pay and accept payment directly in the new currency.
Hi Matt, Great video as always! I am a small business owner in Australia and would like to accept BTC. You've provided some useful info here for businesses accepting Bitcoin. I wonder if you could please do a video dedicated to How to accept Bitcoin in small business? Just ordered my BS Jade. Trying to get my BTC house in order. Thanks for your continuing education, guidance, and humour!
Is it wiser to have sats split between hardware wallets (maybe by utxo size) or to use both devices for a multisig? (Assuming the purpose is long term storage)
I am curious. What happens if BTC keeps being lost as in, access to it becomes unavailable for whatever reason (lost password/dead owner). It is possible to run out of BTC to the point that one BTC becomes worth millions, making it impractical as currency for transactions. In that case, shutting down the exits can if not kill it then at least greatly hurt its usefulness.
Arguments about cold storage and clever workarounds miss the point. Without access to exchanges and on/off-ramps, bitcoin’s rapid network effect growth will slow by orders of magnitude. I’m fine with that because I don’t need my holdings to be valued in the millions, but there are some here who would be absolutely distraught.
Are there any clearnet markets that transact in BTC? Like Amazon, cross border, the whole shebang - just in BTC? Cuz that would go a long way towards exchanging real work for BTC and moving meaningful amounts of btc across borders that turn hostile.
![FORTNITE CLASSICS IS BACK! Fortnite Item Shop [November 15th, 2024] (Fortnite Chapter 5)](http://i.ytimg.com/vi/RbQURbeFwqs/mqdefault.jpg)
WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter
You don’t need an off ramp for BTC.
BTC is the off ramp.
The offramp to freedom highway baby.
So liberating holding BTC. Bug middle finger to Digital ID and Internet censorship that is ramping up now.
Precisely
You need more on ramps from fiat to BTC.
Good luck buying anything with your off ramp.
@@RearAdmiralTootToot I understand where you are coming from. If I were completely ignorant I’d probably say the exact same thing. There are multiple ways I can buy things directly with Bitcoin at this very moment from Amazon gift cards to cars and all from legitimate websites. This ain’t the Silk Road.
Let me give you a few -
Microsoft, Overstock, Amazon, I could literally go on for pages.
But keep telling yourself that buddy it helps people to see the mindset of a boomer bound to fiat.
When describing and suggesting p2p use of btc, it might be helpful to add " just like you do now with a $20 bill, which is a p2p system we have used for a few hundred years". Ie: p2p is not a sneaky idea; it's the way we live and spend now.
I don't like that analogy because it can lead people to believe that only government-issued money is real money. Also USD not a bearer asset, but a liability of the central bank. But you are right about the privacy of physical cash
Another great video, Matt. Additionally, people need to remember that peer-to-peer exchange is important. Even back in 2008-2010 Satoshi and others spoke about exchanging for fiat using escrow, which basically later became what we now know as bisq.
Also Robosats and HodlHodl!!!
Bisq is great.
What is bisq?
@@spencerladd2275 A peer 2 peer exchange
@@spencerladd2275
It is the essence of peer to peer trading for the 21st century.
Bitcoin Beach and Jungle work because Bitcoiners invested their bitcoin in local businesses. If they just held it, they wouldn't be there. We must trade some long-term wealth potential for more users.
Can you do a video on BISQ ? A peer too peer system to buy and sell bitcoin.
I second this
Thirded
Forced(?)!
Forthted @@simonhaas6480
Fifthed
Not to buy a lambo? Bitcoin was specifically created so we could all have a lambo.
You get a lambo, and you get a lambo, and you get a lambo-- everyone gets a lambo
@@Bitcoin_University🤩
*vroom vroom*
& Hoes
A Hotwheels brand Lambo lololollo
Automobile brand stereotypes in China:
BMW = corrupt politicians
MB = born into wealth
Buick = young entrepreneur
and soon to be,
Lambo = Bitcoiner
Awesome practical advice for storing vs. spending BTC. Cheers!
Great point about government actors getting on board. I've been saying for years that the worst fear of the Banksters is their minons leaving the fiat plantations for BTC's greener pastures.
We the People still do it backwards....they work for us...not the other way around. We tell them we want BTC and dont touch it. Crypto holders...especially the red/blue voters...stop being sheep...please.
Matthew, would you ever consider doing a life advice video relating to what Nomad Capitalist touches on in their videos? It really seems like in 10-15 years from now bitcoiners will want to 1) flee to countries with governments that are less powerful/more BTC friendly and 2) potentially renounce citizenships, especially for US citizens. In light of the recent proposals around capital gains, it seems like best case scenario is that govts try to hike up cap gains taxes on Bitcoin and Bitcoin alone. At worst, they’ll move to confiscate. It legitimately might be ideal to renounce while still below the exit tax threshold and move somewhere else.
Indeed, that’s my plan. Why pay 1st world rates/taxes for 3rd world service
What countries come to mind at this time? I speak Spanish and I look at El Salvador however governments can change, and that's the risk I'm trying to measure.
@@BTCforce Yes, it seems like it’s truly the only path forward. If you’re a true HODLer I don’t think it’s worth keeping your US citizenship. It only leaves you with undue risk. As long as you’re a citizen, and even if you’re not one (RIP Roger Ver), the US will try to come after you. We can talk about them not having a right to all we want, but we all know they will if they deem HODLers a political enemy. I really think Matt should do some episodes around citizenship, renunciation, and even some specific countries to move to. Many HODLers will reach the exit tax threshold within the next 5 years
Do it NOW. Other residencies and citizenships are a must have urgently. Regulatory arbitrage is a only way to have a decent life, even today. Unfortunately for those who are U.S. citizens it’ll implicate in maybe renounce. If that’s the case, so it be. I have 2 citizenship living in a third country (because an EU citizenship). Dig your family tree and try to find any Italian, German, Spaniard or Portuguese ancestors. Maybe other EU nationalities too. Don’t wait.
@@VamosViverFora eu sou Português e tenho antepassados Indianos. Faria sentido tentar a nacionalidade Indiana a nível de fuga da Europa?
When all countries close exchanges there will always be one who wants to earn all the fees.
Yeah but the real exit is the banks. Younwill get fiat if anything. The Rothschild bitcoin isn’t meant for goy to be successful but enslaved. Know history or no future.
Hi Matthew, can you please make a long form video going into detail about your background, and detail your bitcoin journey up to current day. As a viewer of every one of your videos, i'd love to hear more about you and your journey.
Love from Ireland!
Why pay taxes when they can just print money?
because taxes allow them much more granular control about who they steal wealth from. Inflation is a crude tool, taxes are a scalpel.
Because we are peasants 😊
@@Ed17151 peons
Why buy BTC if you can mine it.
@lurker668 because it costs a lot of money in electricity unless u have credit and its not your money then fine but your better of buying btc
Bitcoin Is 👑 keeping loading while it’s cheap under $1M
Cheers Matt. Respect from Johannesburg, South Africa.
Thanks for another good one!
Hey Matt,
What is the privacy issue when transferring funds from hot wallet to a long term cold storage? Why buying from exchange is safer than from apps like strike?
Thanks,
Janne
But what about trouble about ON RAMPS?????
Please explain that clearly in a separate video!
Thank you !!
Thanks Matthew. I didn't know that you shouldn't send from your hard storage to you wallet. More on that please.
I somehow missed it, at what time did he say that?
@@Ed17151 Can't remember, near the end.
So how do we do it then ???
Great video. I do think it would have a significant impact to NGU if the convenience of exchanges were to go away.
If they close the exchanges I'm going straight to the Bitcoin CEO and demanding my money back!
Great content!
Thanks
Exactly the video I was waiting for Matt, thank you. If the exchanges are shut down, or if the US and EU collectively 'banned' BTC, how is that likely to affect the price? I could imagine it could shake the market enough to deter new buyers and send its value into a downward spiral.
Like, subscribed, shared (twice) and commenting about it. 👍🏼
Thank you!
P2P transactions, just as Satoshi intended. Any word on what is going to replace whirlpool in Sparrow? Feels kind of hamstrung without it.
seconding this. the whirlpool servers were only hosted by Samourai, correct? i've got UTXOs that were supposed to mix to my cold storage after a number of rounds, now I can't really move them from my hot wallet without paying fees.
Sidechains like Liquid are way more private. And easier to use. You can send a bitcoin from liquid to lightning or to on chain again with no drama. There’s a new walls called AQUA which handle it quite well. I’d advice to use Green Wallet and Jade, just to guarantee your side chain funds are secured by a hardware wallet device.
I think a part of bitcoin's value is its liquidity, provided by exchanges. If they close, you lose liquidity, and market value information. If exchanges start to close, I'd bet the price would plummet on remaining exchanges as people rush for the real exit.
Tip my hat to you sir, thanks again Matt 👍
Comment from Sunny Bradenton Florida 👍 Thanks Matt...
Teeing it up at Bradenton Country Club today 😂💪
Good Morning Matt 🌅
Thanks Matt. Perhaps in a future video, can you comment on the advantages and disadvantages of Capital Gains Tax on Bitcoin? I rarely hear anyone discuss how it is a tax on buying fiat, and how it incentivizes hodling
They may need to buy them and not close the Exchanges.
Print money....buy btc.
very good Matthew---thanks
Thank you for adding all these links, bookmarked.
Let‘s be honest: If that were to happen, then yes, Bitcoin would still work and could be transferred peer to peer but it would completely kill adoption and tank it’s price in Fiat which is important to most people as long as we live in a Fiat System. It would be as interesting to the general public as Monero is now. Bitcoin mainstream adoption needs to keep growing like it did since it’s birth and if it doesn’t, it failed. Maybe it will be re-discovered in a future with less authoritarian governments but for our lifetime it would not have succeeded.
Do you really believe that freedom money will trade at a discount to slave fiat money? What happened to the prices of gold and pot when they were banned in the US?
IMO, Spreads would explode. You would sell at a loss but pay a higher price to get it.
Thank you Matthew for the important hardware wallet reminders. Coldcard FTW!
Was that the Daytona Beach flea market this weekend and there was a vendor that had a sign that said Bitcoin accepted here
Was at the Daytona Beach flea market this weekend and there was a vendor that had a sign that said Bitcoin accepted here
How do I privately get money into the cold wallet?
Please address the concerns of retirees. Retiree savings are largely (by far) in IRAs. For example, would you recommend cashing out a Roth and converting the cash to BTC in a hard wallet?
I'm slowly turning into a btc maxie here. I can def see the ETH foundation complying with the government.
Great video Big Dawg. Can you please do a video on Bitcoin and AI?
Matthew, how do I get answers regarding the ultimate bitcoin guide?
It'll just be companies offering leverage at that point. Or really risky in-person transfers.
A small suggestion. Please add timeline and chapters to your videos
It’s like all kinds of money that I have $250 fees out of nowhere. More and more your video show how easy it is for the government to just say hey give me all your bitcoins.
Matt, do you have a video on best hot wallet to use? Or is that the sparrow you were referring to?
Thanks Matt! Great content as usual!🙏👏👏👏👏👏👏😎👍✅
Hi Matthew, this is the best money in the solar system T-shirt guy. I’m wondering if you could do a special video instructing first time bitcoin buyers how to do simple things like how to buy $100 a month of bitcoin or some very low quantity. How would you recommend that… And then if there’s a minimum bitcoin purchase quantity that you recommend to improve or reduce the ratio of Bitcoin purchase amount to exchange fee per purchase… And also where to keep those small amounts of bitcoin which cold wallet or method would you recommend… And finally any other thoughts on micro bitcoin beginners they’re just starting out and only have $50 to $200 a month budget to dollar cost average into the BTC economy. thank you
how you even meant to keep track anyhow if spending in bitcoin, if I buy a coffee for £3.5 how do I even know I am spending bitcoin which cost me £8k per bitcoin or bitcoin which cost me £50k per bitcoin? know what I mean?
Matthew do you still recommend any updated coin join options on your course? Also do you see a future where i would be able to buy a home with BTC without exchanging to fiat?
I understand the importance on BTC but im losing hope that the average person will take the time to understand this stuff and therefore might take a failing government and economy for them to actually see the value. It’s quite depressing.
Thank you, Matthew!
My surgeon accepts bitcoin!
Very smart surgeon. Gonna be even richer than most surgeons too
Wouldn't everyone just move to peer to peer exchanges if that happened? I assume p2p is hard to stop for the same reason torrent sites are.
How am I supposed to keep track of which btc I bought when and what the price was then and is now? I could never figure that out that's craziness.
Can you talk more about how coinjoin works. The types, the risks, user gains, etc. I'm just wondering, if i had 10 coldcards creating new addresses for every incoming transaction, could I self coinjoin?
Matthew: "What good will self- custody be if there's no way to use your Bitcoin to pay bills or buy things?" I know you likely get the suggestion I'm about to make often but I think it's important to reiterate the point -- Bitcoin University, Satoshi University. Word utilization matters. Satoshis are what's relevant to most people, especially re paying bills and buying things. Shouldn't you be using "satoshis" in such situations, not "bitcoin" simply from a specificity perspective? And wouldn't "Bitcoin University, Satoshi University" be a more appropriate name for the channel? Thanks for all you do, bruh. You've been *incredibly* helpful and consistent.
Saying you can use BTC to buy and sell without explaining the How of that is useless.
The one thing that keeps me from using bitcoin for daily purchases are the tax implications. I don't understand it well enough currently. Not sure how to address my ignorance. Perhaps you could do a video about taxation and how to address concerns such as those i have raised?
its not true that u can buy goods and services with BTC. Very few retailers accept it, and it wont be accepted world wide, even if it is in US. There will be dozens of countries never accepting BTC for goods.
I want you to buy Jade hardware wallet from the manufacturer but their site lists retailers. That introduces extra risk that a third party might tamper with it before it gets to me.
How can it be used peer to peer and as payments without taxes when it’s deemed a commodity and property?
Exchanges close? Have you ever heard the word Blackmarket. Where there is will.......
Could you explain this in more detail (at 7:37 min) - "and make sure to never do transactions between this hot wallet and your cold storage directly, for privacy reasons". How should we transfer money between a hot wallet and cold storage?
You don't.
@@overbuiltlimited Please explain, I am completely new to this.
@@AlphaMikeFoxtrot88 Just remember that every transaction you make with bitcoin is traceable. If you don't want there to be a connection between two wallets then you shouldn't send bitcoin between those two wallets. You used to be able to put your coins into a "mixer" that would erase or at least blur the transaction history but as Matt said in the video, it is more difficult these days to find legit mixing services. Careful here, because if you try to mix Bitcoin with a fake mixer you could lose your Bitcoin.
Yeah, so when you need fliat and the only funds you have left are in a cold wallet what do you do then?
@@AlphaMikeFoxtrot88 I did explain and my comment was deleted. Sorry. Keep looking. You'll find the answers.
Thanks Matthew. I posed a similar question in response to yesterday's video, and you touched on it here, sorta, but I think is still the elephant in the room (at least for US citizens..)
KYC.
I feel like I should sell all my KYC coins and slowly buy back in using other means because if these things you warn of come true, KYC coins in self custody will be useless. Am I wrong?
You can send and recieve it all you want. The problem is, what's the market price?
All the Bitcoin you get paid with had a market price associated with it.
When the US gov banned gold and pot, did the price of those go up or down?
simple we just use bisq
great question!
Bitcoin Jungle works! I've been there.❤
I hope to visit soon as well
I love your thumbnails haha, do you use midjourney? Just curious
photofunia.com/
Love your videos, Matthew. Over time you have convinced me to ditch and forget other shipcoins and just go all in on BTC. I wanted to ask if you could do a video on a longer term plan for passing your BTC down to your children. How do we handle BTC after death? Should we leave private keys encoded in a Will or with a lawyer (could be risky), and what are your thoughts on Bitcoin lost forever when someone passes away, no one can access their wallets?
Do you have a video discussing the likelihood of world adoption of BTC as our new monetary system that replaces fiat? If not, would love a video on this!
I mainly want to know why you’re so confident that it’ll overtake fiat and not coexist like how gold currently coexists with fiat.
Love your content!!!
Depends but I can say someone may have to pay
Can you create a video about the leaked q* (q-star) document om 4chan that talks about how the NSA with openai have a super powerful AI that was able to decrypt AES-128 and potentially SHA-255 and what that would mean for the future and security of crypto?
This is highly optimistic.
There are a thousand of exchanges around the world. As p2p user who faced a kind of an exchange ban, we know there will always be one. Because of lucrative business opportunity to always exist even from obscure corner of the world especially tax havens.
7:37 do you have a video where you elaborate on this? Money between cold and hot without coin join?
Listening while traveling Japan !
Nice-- have fun
The answer seems obvious. What happens to any fiat currency when a better adopted currency can no longer be exchanged into it? Simple. People pay and accept payment directly in the new currency.
I aim to buy bitcoin when the price is low, and sell when the price is high, using historic price data as a guide.
How do you adjust for new all time highs?
@Bitcoin_University I try to extrapolate based on the 3 to 4 year cycle, however I accept its probably not going to hit the ATH....
Could you explain why there shouldn't be any tx from cold to hot wallet?
make a whole video how a person should secure the BTC
Is there anything better about sparrow as apposed to swan?
Thank you for all you contribute, really enjoy your content.
Thank you
All these suggestions are roo nerdy and complicated to work.
Not everyone is going to make it
How do you buy bitcoin and send to ur cold storage without an exchange?
Buy BTC from a Bitcoiner at a meet-up
@@Bitcoin_University That's insane.
Thanks for sharing
Very helpful to have a direct P2P mesh network for commerce and business
Thanks Matthew 💯🔥
Great information
Hi Matt, Great video as always! I am a small business owner in Australia and would like to accept BTC. You've provided some useful info here for businesses accepting Bitcoin. I wonder if you could please do a video dedicated to How to accept Bitcoin in small business? Just ordered my BS Jade. Trying to get my BTC house in order. Thanks for your continuing education, guidance, and humour!
ty matt. comment for vis.
can you still do a coynjoyn? or is it totally down?
Is it wiser to have sats split between hardware wallets (maybe by utxo size) or to use both devices for a multisig? (Assuming the purpose is long term storage)
The faster exchanges close the better, they are just for speculation. No exchanges = no short no manipulation no control.
I am curious. What happens if BTC keeps being lost as in, access to it becomes unavailable for whatever reason (lost password/dead owner). It is possible to run out of BTC to the point that one BTC becomes worth millions, making it impractical as currency for transactions. In that case, shutting down the exits can if not kill it then at least greatly hurt its usefulness.
Arguments about cold storage and clever workarounds miss the point. Without access to exchanges and on/off-ramps, bitcoin’s rapid network effect growth will slow by orders of magnitude. I’m fine with that because I don’t need my holdings to be valued in the millions, but there are some here who would be absolutely distraught.
How are the bitcoin miners supposed to pay their electricity bills if there is no off ramp?
Are there any clearnet markets that transact in BTC? Like Amazon, cross border, the whole shebang - just in BTC? Cuz that would go a long way towards exchanging real work for BTC and moving meaningful amounts of btc across borders that turn hostile.
Good info Matt
People used to meet to exchange fiat for BTC
Gresham's Law is not a suggestion. NOBODY is spending precious BTC when fools are still accepting shit-coin USD.
They will allow people to sell, but not to buy, just like GME at Robin Hood.