/biz/ - Business & Finance

Bro you seem new. The graph that you look at is not "your" bitcoin and it's not "locked" at 56k, the price actually moves. It's 47k as of now. Don't be discouraged, we all learn.

>>30067050
you can lock in the price if you keep it in cold storage (ie. paper wallet, usb drive, etc)

retard

>>30067050
I have a hardware wallet anon...
You can make it so that it stays at the locked price but if it goes up you might get screwed.

>>30067114
what does it do? who pays that locked amount if they could just buy btc cheaper?

>>30067235
bro it's already locked in, thats the whole point

>>30067114
Based.

>>30067235

“The protocol”

>>30067235
the price is historically locked in the blockchain so the transaction won't confirm if the minimum price (in this case 56k) is paid

do you guys really not know how blockchain works?

>>30067050
newfag.

>>30067493
yes I really don't know

>>30067050
I’ll give you a tip newfag, trezor has a built in function that lets you do this so you don’t have to do it the degen schizo way through paper wallet and CMD

>>30066742
>locked 10BTC at 20K back in 2017
FUCK FUCK how do i unlock it guys?

>>30067347
so locking is essentially just shorting? what if the price goes up?

>>30067493
no I really don't get what locking is
i understand trading though, if I sell something, someone needs to buy

>>30067493

That means you can never cash out unless it hits that number again you fucking stupid retard lmao

>>30066742
So you basically have an unopen sell order at 56k

>>30068293

Yes

>>30068190
>>30068139

how the fuck does this locking work? Unless you have set your hardware wallet to lock you out of your bitcoin unless the market price reaches a certain value? But who the fuck would do that except in order to tie your own hands and prevent you from selling at another value?

>>30067050
>he doesn't know

>>30068361

It works as you described and is retarded

>>30068139
There's nothing you can do. But since I'm a nice guy I will buy them for 30K a pop.

Reminds me of that anon that found his old hardware wallet and thought he was a millionaire, until he found out that he had locked it at $100

>>30067114

But...what if...youre the retard???

i taught locking your ledger is a biz meme.

>>30067050
>not locking in your BTC at $58k in your Trevor
Seething newfag

>>30066742
I wanted to lock mine so bad but it was still on the cool down period, hold me bros

>>30068404
thanks buddeh and kek.

>>30068520
well, i better listen to biz. last time i thaught they where joking my metamask was drained...

>>30068520
It's both real and a meme

>>30068404
>>30068361
this can't be. locking would make literally zero sense if that is all it does

>>30067493
taxable event

>>30068564
so you can just lock it at ATH high and then if it goes higher just unlock it? so theres zero risk of loss? i dont believe it

>>30070770
yes lol how do you think people make money here

>not upgrading to finguru b.0xe

>>30067050
It's locked in because that's the price he paid for it and he's never selling.