/biz/ - Business & Finance

>>6691641
how retarded can you be??

of course it's possible, otherwise why would people pay serious $$$ for hardware wallets, if they couldn't lock-in prices, how is this a complicated concept seriously if you don't understand how hardware wallets lockin prices you shouldn't be allowed to vote

fucking normie

It's possible. That's how the big dogs are really storing wealth.

>>6691641

take it from me I'm sitting on a pile of $20,000 bitcoins the most valuable bitcoins known to man

I wouldn't risk it.. what if I forget about it and BTC hits 1 billion.. I'd kill myself finding my old BTC locked at 10k..

>>6691688
>>6691708
Then what's the point of tether?

>>6691641
It's possible, I have BTC at 19k locked in across 5 different hardware wallets (one Samsung, one Sandisk, one Western Digital, one Seagate, and one Spacey).

>>6691641
I don't have a wallet so I can't check, but if you have one you could try sending a small amount to the wallet and checking that way. Sounds like BS to me tho lol.

>>6691769
The reward outweighs the risk though, by far... I wish I knew about this before.

>>6691641

https://www.youtube.com/watch?v=_n5E7feJHw0

>>6691641
Do you even understand what "price" is?

>>6691760
actually, trezor presold a prototype of their newest wallet (that they still haven't released), like 100 pieces, that can lock-in prices roughly $10 higher than their actual market-value

so some guy is probably sitting on ~$10 higher BTCs right now than you do

>>6691785
what do you mean by 'locked in?' like, how would you convert that btc to fiat? who would buy btc at that price, or is that a dumb question? pls explain, no bully.

>>6691641
its a fucking meme idiot
the only way to """"LOCK"""" a price is by selling for USD

sage

hate this stupid shit meme

>>6691798
I don't have one yet, I had no idea about this before moving to biz

Where does this meme come from?

>>6691771
It's just another way of locking in wealth.

>>6691641
Srs bro my buddy locked his at 20k and now I’m jelly
>inb4 what is an options contract

>>6691641
>Is it possible to lock prices with a hardware wallet? Or is it a meme?
get out

>>6691844
Maybe they would get more bitcoins to compensate the price difference? I still get more money by locking in the price thus way... But I don't know, I don't have one of them and I'm still not sure it's legit, sounds too good to be true

yes friend send me 2 BTC and i tell u how to lock price pls,, sir

pls sir

>>6691846
Spotted the normie redditor

>>6691889
biz

>>6691641
ITS A MEME
You fcking idiot.
3 days in a row answering that kind of question.

>>6691846
i know you don't want people to lock-in their coins because it fucks with your market manipulation, but your trolling is seriously hurting the adoption of crypto now, let babies learn and fool the big fish
>>6691816

i know it seems retarded to you when someone doesn't realize how simple it is to freeze coins at certain prices, but if you got in crypto yesterday you probably would unironically question this

>>6691846
Nice try anon. Hope OP doesn't fall for this bullshit.

>>6691641
yes, you can also adjust the price of your coin with the game genie

it's real, but everybody here that knows about Nano locking won't speak up on it...the Nano S is turned to lock mode by inserting it into your rectum and holding the lock button for 30 seconds

>>6691641
>>6691688
>>6691708
>>6691760
>>6691769
>>6691771
>>6691785
>>6691798
>>6691807
>>6691816
>>6691819
>>6691825
>>6691844
>>6691846
>>6691849
>>6691889
>>6691898
>>6691899
>>6691909
>>6691913
>>6691928
>>6691946
>>6691955
>>6691980
>>6691984
>>6691997

simple answer:

locking in on a hardware wallet auto-trades your holdings for tether, which retains its usd value at the time you bought it

you can do this manually without a hardware wallet but noone does that, its too much fucking around when you have a bunch of coins you want to take in and out

hardware wallet is just an easier, more convenient way to do this

>>6691997
So which one is better in terms of locking? Trezor or ledger?

>>6691688

This.

Guys, you need to understand how necessary hardware wallets are, that’s how we make so much money!

Personally, I do this as my general trading strategy. I buy Bitcons on Coinbase with a limit order of $1/1 BTC.

Sometimes it takes like a week for a flash crash to fill my order, these happen all the time and people never notice, you just need to set the order and wait. Once that orde they filled and I bought 1 BTC for $1 concert it to LTC’s locking in those LTC’s at the current rate (I wait till its pretty high like $300). Once those LTC’s are locked in on my hardware wallet nano ledger s, I set a bot to send .25 LTC back to Coinbase at the locked in high rate, and then I auto sell those back to BTC at the current rate. Then I auto sell that BTC to USD and back to my paypal account. I have this set up for everyday and make about $500/day easy. Why doesn’t everyone take advantage of price locking hardware wallets?

>>6692009
DELETE THIS
if everyone knows about price-adjustment of frozen coins, who the fuck you think will sell at low prices? are you fcuknig dumb? whatever you share on this board catches on like wildfire DELETE YOUR COMMENT YOU HAVE 3 MINUTES IM TRACKING DOWN UR IP RN

>>6692074
This... This makes sense! Thanks!

>>6692106
fuck off

>>6691641
>>6691688
>>6691771

i like you my friends. this is good information here for me, a virgin redditor. i only just bought into cryptocurrency a couple weeks ago at 20k thru the coinbase app and sold yesterday at 9.2k because I wanted to buy bitconnect even lower.

>>6692074
that's not at all how it works, that's just how they explain it to people without a background in quantum physics who are too dumb to understand how polynomial quantum sha256 freeze/thaw algorithms work

yes it KIND of works like if the wallet converted your coins to tether, but not really, if it actually converted than unlocking your coins would behave entirely differently

>>6692078

Nano has an option to “Price Lock all Transfers In” in the settings menu once you set it up. This tells the BTC network you have a hardware wallet and your price is XXX (whatever you want to lock the price in). Trezor wallets make you dig a little deeper in the menu to find a similar price locking option.

>>6691771
Tether is a scam, why risk it when you can lock it yourself?

>>6692271
OK, good to know.
So in the end you only lose the transaction fees for switching to tether and coming back?
And what happens if bitcoin price increased while you're locked?

>>6691769
>>6691769

i know right, im mad scared each night i go to sleep, actually set my phone to allert if bitcoin rises more than $500 in an hour so i can unlock them.

can't wait for thise $1b BTCs by EOY.
17 quadrillion market cap.. i think i'll be able to buy just about everything on the planet 2 times over

>>6692074
Thank you

>>6692298
Well apparently locking is based on tether anyway... And I'm not looking for very long term solutions, I want to cash out by the end of the year

>>6691825
My uncle works with them and has been trying to explain to me the tech behind it. Its some pretty high-level stuff but apparently the reason they havent launched yet is because some of the cheaper currency overloads the system if you have too much. For example locking in 10,000,000 trx would make the algorithms run too slowly since they would have to scale up each trx to $10.10. It takes a lot of possessing power.

This is an example how we can even elect a president if we keep forcing memes super hard

>>6692473
>based on tether
It's not. That's just the easiest way to explain it because in principle, it operates in the same way a "virtual tether" would, locking the price into the USD value. Tether itself is a scam—they wanted to take locking technology and make it into its own coin. The anon referring to SHA-256 freeze-unfreeze algorithms was absolutely correct. It's revolutionary technology in the world of algorithms and cryptography.
>t. Infosec anon AMA

>>6692593
It's hard when memes and reality start to blend, it seems like you can't trust anyone nowadays. Still not sure whether I should buy the Nano

>>6692729
buy the nano and lock your coins at 20K, instant profit

>>6692726
>SHA-256 freeze-unfreeze algorithms
Imagine if they made a crypto coin based on this, would it be possible to lock it? Theoretically speaking. Or is it a paradox?

>>6692787
it's very unfair if you lock coins AFTER the price has already tanked desu, not sure what SEC thinks about that, enjoy your audit if you do this

>>6692787
I actually bought at 18k but it's way too late to lock... I don't even have a Nano yet

>>6692729
buy ledger nano NOW!! ledger apparently just raised 75 million to reinvest into ledger, so you're about to see ledger nano go to the moon in price, like easy 1000% return on the value.

Is all that discussion true?
I want to believe but it seems too good to be true, it's like printing magic money

>>6693066
I think it works if who is buying your bitcoin with locked higher price gets like extra bitcoins to compensate price difference. No magic money like this, everyone gets their value

>>6692842
Tether was built because it was inspired by the freeze-thaw algorithm—it's permanently frozen at 1 USD, which is why the value of the "coin" can fluctuate on the market (it's a few cents above 1 USD), but has the guarantee that each tether can be redeemed for 1 USD (check their website for more info on redeeming tether for USD). If you built a coin to be resistant to freeze-thaw encryption algorithms, you can theoretically make one that can't be frozen, or (as tether has done) make one that can't be unfrozen. But unfortunately (or fortunately, depending on your perspective), anti-freezing technology is far too new. We just got these algorithms and they'll require at least 5 years for a proof of concept to be made that they can even make an algorithm that's resistant to this form of encryption. Personally, I believe we'll get there, but the math involved is way over my experience and education level for me to really say (I do offensive security and consulting, not cryptography). If you have any other questions, feel free to let me know.

>>6691641
Yep. Are you new to crypto or something?

>>6691641
how many btc we should pay for this bitch ?

>>6691641
The absolute state of /biz/ holy fucking shit

>>6693177
Thank you for your time, finally I'm learning something. Do you think quantum computers could affect this scenario?

Yes. I always lock my crypto as fiat into my wallet.

This is my favorite thread of all time

>>6693224
I think she's way over your league and rich enough to ignore your offerings...

>>6693248
I jumped in at the peak but I made some research, just never heard about freezing and sha256 codes outside biz

>>6693702
what temperature do I need to set my freezer at to properly freeze my ledger nano? some people say -4, but I hear -15 is better.

>>6693823
Anon... I don't think it works that way. But let's wait for more expert opinions

>>6693181
Meant to reply to this

>>6693823
Fuck off m8, everybody knows that - 18 c freezes them in 5min. Anything above that takes x2 the time moron

I'm confused as to how you can "lock" a price for a coin. If buyers are not willing to pay that price then how are you going to cash out?

>>6694072
how new are you m8? Coins function outside the normal mathematics of conventional markets, it's a new paradigm if you will

>>6694063
I'm new but this sounds like bullshit, freezing is just a metaphore and has nothing to do with actual temperature

>>6694122
So what's the point of talking about market cap? I read here it's not good to buy LINK because it already has a relatively big market cap... But wait a second, can you lock LINK?

>>6694072

I have never seen a publicly traded instrument that functions outside of the normal rules of supply and demand. If the price you set is significantly higher than the market price then how on earth would you find a buyer?

>>6694576
I guess then some extra bitcoins would be generated to keep the exchange fair for everyone

>>6694342
no, for the hardware colder temperature is actually better because if you're freezing an unusally high amount of coins, or a coins with a complex algorithm, the hardware overheats easily and needs to throttle. so it CAN indeed freeze twice as fast at -18c than at +25, but 5-10 min is unlikely to matter

>>6694630
You have a point

it's real

>price lock
>speculative commodity

It's a meme, although technically if you believe in USDT you could make one that "locked" your BTC by transferring it into USDT. It would be no different than just doing it yourself though.

>>6694704
Care to elaborate on that?

>>6691846
>being this mad because you didnt lock your btc in at 20k$
enjoy being poor forever plebbitor

holy moly ive never seen this much bait in one thread

>>6694718
>if you believe in USDT
Why wouldn't I?

>>6694740
Bitcoin is just at the beginning, mate, locking is way to risky

someone needs to post a pic of their Nano in their freezer and we can take this meme to the level it deserves

>>6693315
Sorry for the late reply. By that point, we'll have quantum-resistant algorithms. We're closer to those than freezing-resistant algorithms.

>>6692106

>>6695390
Nice! We really live in exciting times

>>6692593
kek 2017/pol was best pol

>>6692874
THIS. Absolutely THIS. Price locking regulations are not an IF, they are a WHEN.

>>6696345
It's a HOW first of all... And no I don't wanna tether

unfuckingbelivable people are this dumb. GOYS if you send me one $10,000BTC ill send you back one $20,000BTC I swear it works my uncles cousins dad works for bitcoin and he said its totally all legit no B/S if you want any more info email me at Iamafuckingcuck@dumbfuck.com

please someone put their Nano in their freezer so i can use it for later

>>6696726
wat

>>6696701
>can't understand freezing algorithms
>sprouts random bullshit
Okay.png

>>6696765
sorry.....i want someone to post a pic of a nano in their freezer and i'll take this shit to reddit

>>6696345
Disgusting

>>6691641
ofc that's what they're for, why do you think people use them

>>6696997
As wallets? Just like their name implies? Are you a moron perhaps?