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The Bitcoin (crypto) Beginner's Guide

Discussion of all things crypto and blockchain.
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Vinadahi
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Location: Clifton, NJ

Re: The Bitcoin (crypto) Beginner's Guide

Postby Vinadahi » Fri Aug 23, 2019

Well, I know I'm probably too late to the party but after spending the last several days researching this stuff I have just downloaded a bitcoin wallet. There seems to be a good amount of negative news out there so it must be a great time to jump in. :)
I'm not interesting in just investing, but rather to actually use it to transact business and see if it will be feasible to accept in my retail business. I am convinced cryptocurrency will be the currency of the future, just not sure if it's going to be bitcoin, something else, or a combination.
If anyone is interested in walking me through my first transaction please PM me. I will make a favorable sell to the purchaser and I have a listing in the silver buy/sell forum.

Seems the more I read about it the more questions I have. Too many to just throw out there at the moment. But I do want to start this thread to see if there are still a few of you guys here that have been using it and what kind of things are you buying and selling with it. There are certainly more businesses accepting it, some with marginal results such as Overstock.com. I know there is a thread Bitcoin fad or trend, but if this thread gets legs it could be more of a question and answer thread. I know I have plenty of questions.

Anyway, how many of you guys use bitcoin regularly, accept it in business, or just invest/trade in it?
Can I take bitcoins from the wallet on my laptop and transfer them to my android phone for mobile use? I'm sure I can but how would one go about doing that?

Thanks.
Last edited by Vinadahi on Wed Aug 28, 2019, edited 2 times in total.

cmiller17363
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Re: The Bitcoin (crypto) Beginner's Guide

Postby cmiller17363 » Fri Aug 23, 2019

Your last two questions: First, yes. Second, treat it like any other transaction. Choose receive on your android phone's wallet, choose send on your laptop wallet, enter the address FROM the android phone INTO the laptop wallet. Verify that the transaction details are correct (especially the address) and send.

I noticed you are a new user. Hello! Why don't you head over to the introductions thread and tell us a bit about yourself. :wave:
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CaptainW
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Re: The Bitcoin (crypto) Beginner's Guide

Postby CaptainW » Wed Sep 04, 2019

Question:

What does "countervalue" mean on the Nano S? I logged into my BTC account on the Nano to check for a transaction and I realized the "countervalue" amount in USD just above the amount of bitcoins I have does not represent the current value of BTC. Not sure why I never noticed this before but my assumption has always been that the "countervalue" is the value of BTC in USD. That doesn't seem to be the case.
Thanks in advance.

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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Wed Sep 04, 2019

cmiller17363 wrote: I noticed you are a new user. Hello! Why don't you head over to the introductions thread and tell us a bit about yourself. :wave:


Welcome to the club!
Gentlemen prefer Engelhard.

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Wed Sep 04, 2019

CaptainW wrote:Question:

What does "countervalue" mean on the Nano S? I logged into my BTC account on the Nano to check for a transaction and I realized the "countervalue" amount in USD just above the amount of bitcoins I have does not represent the current value of BTC. Not sure why I never noticed this before but my assumption has always been that the "countervalue" is the value of BTC in USD. That doesn't seem to be the case.
Thanks in advance.


I predominately use a Trezor, but according to this link, countervalue is the total fiat value of the holdings "in" your ledger. https://support.ledger.com/hc/en-us/articles/360007375393-Change-currency-settings

Might require an update or firmware adjustment?
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CaptainW
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Re: The Bitcoin (crypto) Beginner's Guide

Postby CaptainW » Wed Sep 04, 2019

SilverDoge wrote:
CaptainW wrote:Question:

What does "countervalue" mean on the Nano S? I logged into my BTC account on the Nano to check for a transaction and I realized the "countervalue" amount in USD just above the amount of bitcoins I have does not represent the current value of BTC. Not sure why I never noticed this before but my assumption has always been that the "countervalue" is the value of BTC in USD. That doesn't seem to be the case.
Thanks in advance.


I predominately use a Trezor, but according to this link, countervalue is the total fiat value of the holdings "in" your ledger. https://support.ledger.com/hc/en-us/articles/360007375393-Change-currency-settings

Might require an update or firmware adjustment?


Ok, so it's what I thought but it's an incorrect value. I wasn't notified of a need for an update but I'll check again.
Thanks for the help!

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CaptainW
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Re: The Bitcoin (crypto) Beginner's Guide

Postby CaptainW » Mon Sep 16, 2019

SilverDoge wrote:
CaptainW wrote:Question:

What does "countervalue" mean on the Nano S? I logged into my BTC account on the Nano to check for a transaction and I realized the "countervalue" amount in USD just above the amount of bitcoins I have does not represent the current value of BTC. Not sure why I never noticed this before but my assumption has always been that the "countervalue" is the value of BTC in USD. That doesn't seem to be the case.
Thanks in advance.


I predominately use a Trezor, but according to this link, countervalue is the total fiat value of the holdings "in" your ledger. https://support.ledger.com/hc/en-us/articles/360007375393-Change-currency-settings

Might require an update or firmware adjustment?


Finally got around to checking and it says my firmware is up to date (1.2.8). Puzzling, and my searches on the internet haven't given me any info so far.

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IdahoCopper
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Re: The Bitcoin (crypto) Beginner's Guide

Postby IdahoCopper » Mon Sep 16, 2019

I have see this before in Ledger products. The counter value is the exchange value to USD. The exchange rate is not updated enough to ever make it accurate.

The solution is to just ignore it. Use real time quotes and a calculator to determine the value of your bags.

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CaptainW
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Re: The Bitcoin (crypto) Beginner's Guide

Postby CaptainW » Mon Sep 16, 2019

IdahoCopper wrote:I have see this before in Ledger products. The counter value is the exchange value to USD. The exchange rate is not updated enough to ever make it accurate.

The solution is to just ignore it. Use real time quotes and a calculator to determine the value of your bags.


Thanks for the info. I find it strange that they wouldn’t fix that. Guess my next device will not be a ledger.

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Fri Apr 03, 2020

A long interview, but very worthwhile and insightful from a guy who has been in the crypto space since early 2013.

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Wed Apr 29, 2020

Ethereum beginner's guide, and starting at 19:38 an explanation of ETH 2.0:

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Tue May 05, 2020

A 90 minute Q & A session of Andreas on the Bitcoin halving. Excellent information for all those with objections or questions on if the network is all going to zero:
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue May 05, 2020

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Bitcoin's Third Halving by Pierre Rochard (1:18:49)
.
Gentlemen prefer Engelhard.

AURUM MULTO MAGIS ANIMAS PERDIDIT QUAM FERRUM CORPORA CECIDIT

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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Fri May 15, 2020

This is a 4 part series about Bitcoin, circa 2018, from CNA, a major news channel from Singapore. Each episode is approximately 47 minutes long. https://www.channelnewsasia.com/news/international
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S1 - E1: Inside the Crypto-Kingdom | The Genesis.
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S1 - E2: Inside the Crypto-Kingdom: The Cryptocurrency Gold Rush.
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S1 - E3: Inside the Crypto-Kingdom | In Code We Trust.
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S1- E4: Inside the Crypto-Kingdom | The Machine Ordered Universe.
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Gentlemen prefer Engelhard.

AURUM MULTO MAGIS ANIMAS PERDIDIT QUAM FERRUM CORPORA CECIDIT


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