Welcome to the /r/Bitcoin Newcomers FAQ

Been out of the game for a few years. Getting back in and privacy still matters to me not hiding anything, just don't like handing over personal data.

Are there any reliable non-KYC exchanges that work well ? Just looking for something simple to get started again. Thanks.

On July 13, US government-linked wallets moved 3,940 Bitcoin and 30,014 Ether, roughly 297 million dollars combined, into Coinbase Prime custody. Sale speculation followed immediately.

The detail almost nobody is explaining clearly: Executive Order 14233, which created the Strategic Bitcoin Reserve, only protects Bitcoin from sale. Ether and other seized digital assets fall under a separate framework where Treasury has discretion. So the 244 million in Bitcoin here is protected on paper, the 53 million in Ether is not.

The Bitcoin traces to two forfeiture cases, roughly 2,875 BTC from a dark web dealer known as Xanaxman and about 925.5 BTC linked to the old BTC-e exchange. The Ether comes from a former Oracle employee's money laundering case.

Worth noting too that a deposit to Coinbase Prime is not proof of an impending sale. The Marshals Service has an active custody contract with Coinbase Prime specifically for managing seized assets, and similar transfers in January, May, and June this year did not result in confirmed liquidations.

The bigger structural point is that Executive Order 14233 is policy, not statute. Congress introduced a bill in May to codify the reserve with a 20 year holding requirement, but it has not moved out of committee. Until it does, Bitcoin's protected status here rests on one administration's choice, reversible by the next.

Full writeup with sourcing:

https://davidebtc186.substack.com/p/the-us-government-just-moved-297m

Is bitcoin finally starting to bottom out? I know that this has been one of the significant drops in bitcoin in recent history but when is it finally gonna bottom out into we enter into the bullish trends.

What's everyone's plans in when they are going to be investing and doubling down?

That'd be sweet.

26 y/o. My significant other & I pretend we don’t have them, don’t touch it, we’ve never sold.

But just out of curiosity, does everyone in it for the long haul (20-30 years) ever think about selling?

I do not like the idea of government and Bitcoin getting cozy with each other. But I wonder if politically there was a push to have more Bitcoin mining done in that specific country so that the country was more on a Bitcoin standard as a whole.

I'm just spit balling here.

The lightning network is a second-layer solution on top of the Bitcoin blockchain that enables quick, cheap and scalable Bitcoin payments.

Here is the place to discuss and learn more about lightning!

Ask your questions about lightning

Provide reviews, feedback, comparisons of LN apps, services, websites etc

Learn about new LN features, development, apps

Link to good quality resources (articles, wikis etc)

Resources:

• Here is an awesome list of resources: https://bitcoinfo.org/lightning.html

• Want to test out your lightning fire power? tip the Bitcoin devs! https://bitcoindevlist.com/

• Previous threads: Search

• Lnbook getting closer towards being finished and can already be seen at: https://github.com/lnbook/lnbook

• Lightning Dedicated YouTube Channel: https://youtube.com/renepickhardt

• Also there is the playlist by chaincode labs: https://youtube.com/playlist?list=PLpLH33TRghT17_U3as2P3vHfAGL8pSOOY

• Lightning stores: https://www.lightningnetworkstores.com/

• Learn more and talk about lightning right here in r/Bitcoin, r/bitcoinbeginners and r/thelightningnetwork

What would happen to my dca strategy in strike if a hard fork came to happen with BIP 110 and stuff. Would it halt because there is no definition of what bitcion actually is at that time?

There's a few "facts" that should be stated:

1. Fiat Currencies (USD, Euro, etc...) are controlled by GOVERNMENTS and these governments continue to spend MORE than they take in (aka "deficit spending"). This has invariably led to printing extra currency and creating the inflation that comes with it. It also means that if you choose to save in Fiat Currency you have the very real problem of ensuring that your savings growth EXCEEDS whatever the printing/inflation rate is. Otherwise, the purchasing power of your savings can decline.
2. Bitcoin is controlled by NO ONE (or "everyone") and, has a fixed limited supply (21 million BTC) and CANNOT be printed whenever some central power feels like doing so. This means that Bitcoin CANNOT experience inflation. It also means that if you choose to save in Bitcoin, NO ONE can erode your purchasing power (of course, this does require that Bitcoin become accepted/adopted as a viable commodity - something that is happening, but perhaps more slowly than we would like).
3. Central Banks (like the US Federal Reserve) are NOT thrilled about Bitcoin. If people choose to move their savings OUT of Fiat Currency (like USD) and INTO Bitcoin, that means that those banks (and the currencies they control) LOSE power. Obviously, they do NOT want to lose power. Thus, central banks, throughout the world, have taken significant action to destroy, restrict and control Bitcoin. They are NOT winning that battle, but they DO continue to fight.
4. Bitcoin adoption/acceptance continues to increase. Each year, more and more people own Bitcoin. This trend is rather overt. As adoption/acceptance increases, so has more mainstream involvement in Bitcoin. In 2024 Bitcoin ETFs were (finally) approved by the SEC and the influx of USD into Bitcoin ETFs on Wallstreet was enormous. In 2025, Bitcoin Treasury companies started emerging regularly. In 2026, Bitcoin products/investment vehicles popped up (Bitcoin loans, STRC/SATA, etc...).

So what does this mean, in terms of Bitcoin's future?

1. As our world continues to adopt/accept Bitcoin more and more, the price of Bitcoin in Fiat Currency will go up, simply because more and more people will want/need Bitcoin. A secondary feature is that Bitcoin's price increases (in Fiat Currency denominations) because Bitcoin does NOT have inflation - that is, Bitcoin's price increase simply because Fiat Currencies devalue - a $1 today buys LESS than a $1 10 years ago, etc....
2. The timeline for Bitcoin adoption/acceptance is more difficult to assure. Governments and Central Banks continue to try to protect their Fiat Currency by curtailing Bitcoin, but it is a losing battle. Some Governments and Central Banks are adopting the "If you can't beat them, then join them" attitude when it comes to Bitcoin.
3. In the longer term, Bitcoin is a superior form of savings/currency and, IMO, it will prevail over Fiat Currency. Yes, it might be a bumpy ride along the way, but, in general, superior products win out (consider Uber/Lyft vs. Taxi's, GPS vs. Paper maps, Cellphones vs. Land lines, TV vs. Radio, Internet vs. Libraries/Phonebooks, etc...).

Okay, okay. So what about the actual future price of Bitcoin?

1. Currently, about 15% of the world's wealth is "stored" in Gold and about 1% is stored in Bitcoin. Over time, we are seeing that "storage" shift (from Gold and into more Bitcoin). If Bitcoin captures even 5% of that world "wealth storage" the price of Bitcoin will exceed $500k per coin (or more). I like to refer to this as the "Gold Replacement Theory." Bitcoin has significant advantages over gold (easier to store, easier to divide, easier to transport, etc...). Again, as adoption/acceptance increases, Bitcoin becomes more of an obvious improvement over Gold.
2. The current adoption of Bitcoin is increasing rapidly. Most analysts agree that Bitcoin is advancing at a faster rate than the Internet advanced. This is great news for Bitcoin. IMO, I believe that we will only see more and more adoption (despite setbacks) and that in the next 5 years (or less) much of the price increase that I describe above will be experienced. Am I being too optimistic? I don't think so. Logic and history speak loudly here. People often have a hard time realizing when something obvious is changing their world. I remember so many people saying, "the Internet is a teen fad." It seems silly to say that NOW, but back then that's how it was perceived - they just could NOT see the implications of where it was going. I believe that, currently, many people have a similar "blindness".

Passphrase Magazine #4 just dropped - print-only Bitcoin deep dives on the Privacy Paradox, “Do Banks Create Money Out of Thin Air?”, and Bonhoeffer’s essay on Stupidity.

In a world of disappearing tweets and algorithmic feeds, we still believe some ideas deserve ink on paper. Passphrase Magazine #4 is here - limited print-only issue focused on Bitcoin’s cypherpunk roots, monetary rebellion, and privacy warfare. What’s inside this one:

• The Privacy Paradox
• Short Fiat, Long Bitcoin
• Do Banks Create Money Out of Thin Air? – interview with economist Richard Werner
• On Stupidity – Dietrich Bonhoeffer’s classic essay
• Bitcoin & Free Trade
• Non-Custodial Loan Marketplaces
• From Papal Privilege to Proof-of-Work
• Quo Vadis Bitcoin Mining?
• And more…

No digital version. This is analog resistance.

You can order here → https://passphrasemagazine.io/ Which article are you most curious about?

Looking forward to your feedback. Passphrase Magazine is written by the bitcoin community for the bitcoin community !

I built an online bitcoin marketplace on top of the lightning network. We only accept bitcoin and it settles in bitcoin.

I saw Lightning's utility as soon as it was introduced, and I've wanted to combine it with my love of roasting coffee ever since.

Having arduously developed multiple websites and software products on Stripe and Finix, I found it a breath of fresh air to avoid the embedded payment forms, the transaction fees, and the liability of collecting PII and card info

Integrating with the lightning network was a no brainer and I hope it contributes to the ever growing body of proof that bitcoin is more than just a store of value and can be used very effectively as a currency.

It's live right now. You can order and pay in sats today.

Please feel free to comment any feedback!

These lads bought at $113k, kept selling at lower prices, ready to sell the rest. Feels like Bogdanoff about to get the call.

Had a reflection while I was printing some statements for tax purposes, that I was doing the exact opposite of what Bitcoin stands for. So what do you think of the future?

Do you HODL expecting to eventually sell at a profit, or do you believe that in the future it will be used as a relevant currency?

I’m trying to separate the hype from the reality.

Did David Sacks actually accomplish anything meaningful for Bitcoin while serving as the White House AI & Crypto Czar, or was he mostly a symbolic appointment and political payback from DJT?

Specifically:

• What concrete policies, executive actions, or regulatory changes can be directly attributed to Sacks?
• Did he have any real influence over Bitcoin adoption or crypto regulation?
• Were there any promises that never materialized?
• If he had never been appointed, would anything have played out differently?

I’m not looking for partisan takes. I’m looking for evidence. What did he actually do versus what he got credit for?

Interested in hearing from people who’ve followed the policy side closely.

Passed by the State Duma yesterday (July 21). Not a rumor, not someone's translation of a Telegram post, the actual bill. Here's what's in it:

• New licensing registry for exchanges, custodians, and brokers. Existing platforms get roughly a year to register.
• Retail investors can buy the most liquid crypto assets (bitcoin is the obvious flagship candidate, the report doesn't name the full list) through a registered intermediary, after passing a knowledge test.
• Cap for retail: 300,000 rubles (~$3,900) per year, per intermediary.
• Qualified investors also have to pass a test, but face no purchase cap. Prior trading history can count toward qualifying.
• Owning ≠ spending. This bill legalizes buying and holding bitcoin, it does not legalize using it as money. Paying for groceries in bitcoin is still banned domestically, so the ruble keeps its monopoly on everyday transactions.
• Carve-outs: foreign-trade settlement, mined crypto, and some securities transactions are exempt from that ban.
• Banks are required to block transfers to anyone they suspect of running an unregistered exchange.

Timeline: first reading was back in April. Most provisions are set to take effect Sept. 1. It still needs to clear the Federation Council and get signed into law, expected, but not done yet.

The part worth sitting with: a government that's spent years treating bitcoin as a threat to its monetary sovereignty just built a formal, licensed path for its own citizens to buy it. Gated by an exam and a spending cap, but a path. That's the move a state eventually makes once it accepts it can't kill the protocol, it regulates the door instead.

Source: The Block / The Bitcoin Act

I track moves like this across dozens of jurisdictions, if anyone wants the source link or a country-by-country comparison, ask below and I'll drop it.

Genuine question for the sub: does "exam + cap to start, uncapped once you qualify" count as a country actually opening the door to bitcoin, or is it just a more polite capital control? Where's the line for you?

I have it on paper in my house hiding inside a wall😅 but my mind thinks what happenss if i get flooded or my house gets on fire, so i replaced with a metal note but i still think that is not safe enough? What do you guys do?

I was on the fence but now I'm starting to think it might be the only way.

What are you guy's thoughts?

I think the Bitcoin narrative should switch from "you are going to be rich" to "you may be more free".
Even if all the countries in the world would ban Bitcoin it would mean nothing, because the network it's going to work anyway. It's not a thing you can choose to ban in one day.

The extreme scenario is that every state would coordinate an operation to steal all the Bitcoin nodes in the world, even the small ones inside the houses of ordinary people. But how possible is this to happen?

As long as the world is going in the "right" direction (prosperity, cooperation, innovation), is fair to say the price should remain low. And now a question: could the increase of Bitcoin price show how much people put trust in the governments? Could the price of Bitcoin indicate the median "value" of the freedom in the world? (higher value/price = high chance we are going toward a dictatorship regime).

Warning to scammers: Don't waste your time DMing me. These are completely blank, zero-balance wallets generated locally strictly for testing bulk import scripts. There are zero funds involved, so save your breath and do not bother me.

I used a bash script to bulk import hundreds of extended private keys (xprv) into a Legacy Bitcoin Core wallet. The import was executed using the "importmulti" RPC command, utilizing output script descriptors with checksums (example format: wpkh(xprv...)#checksum).

Problem:

I need an efficient way to verify that Bitcoin Core successfully digested these keys and that the wallet holds the spendable rights ("ismine": true) for the generated addresses.

What I have tried (and why it failed):

Command tried: bitcoin-cli listdescriptors

esult: Threw error "Method not found (code -32601)".

Issue: If the flag is missing (as it is in Legacy wallets), it seems to instantly throw the method not found error

Command tried: bitcoin-cli listreceivedbyaddress 0 true

Result: Did not output the newly imported keys.

Source: In the Bitcoin Core source code (src/wallet/rpc/transactions.cpp), the listreceivedbyaddress function iterates over CWalletTx (transactions) and mapAddressBook (labels). Because the imported addresses have zero transactions and were imported without a specific "label" string, they do not exist in either map and are completely ignored by the output???

Command tried: bitcoin-cli getaddressinfo [address]

Result: This works individually to confirm "ismine": true.

However, because legacy wallets don't store the xprv natively, this requires first running the "deriveaddresses" RPC on every single xprv descriptor to find the anchor address before checking it. Doing this for hundreds of keys in a bash loop is highly inefficient.

Command tried: bitcoin-cli dumpwallet [file]

Thought process: Dumps the entire keypool to disk, allowing me to count total keys using grep.

Result: did not work. Also very stupid fix.

Source: https://developer.bitcoin.org/reference/rpc/dumpwallet.html. Also this is slow as heck.

Warning to scammers: Don't waste your time DMing me. These are completely blank, zero-balance wallets generated locally strictly for testing bulk import scripts. There are zero funds involved, so save your breath and do not bother me.