Questions tagged [bitcoin]

Lucia Wed Jul 17 2024 | 7 answers 1640

Could you please elaborate on what is meant by "Bitcoin cold storage" in the context of cryptocurrency and finance? I understand it relates to securely storing bitcoins, but I'm interested in the specifics. Is it a hardware wallet? A paper wallet? How does it differ from storing bitcoins on an online exchange or hot wallet? What are the key benefits and risks associated with using cold storage for bitcoin? Additionally, how do I properly set up and manage a cold storage solution for my bitcoins?

BonsaiStrength Wed Jul 17 2024 | 6 answers 1386

I've been hearing a lot about cryptocurrency and the potential investment opportunities it brings. Among the various platforms available, Shakepay seems to be gaining popularity in Canada. However, I'm based in Ontario and wondering if Shakepay offers Bitcoin and Ethereum trading in my province. I've read that they've introduced P2P payment functionality and an OTC trading platform, but I'm not sure if these services are accessible to Ontario residents. Clarifying this information would help me make an informed decision about whether to use Shakepay for my cryptocurrency trading needs.

SumoStrength Wed Jul 17 2024 | 5 answers 1055

When it comes to investing in Bitcoin outside of US trading hours, one must consider the potential risks and rewards. Firstly, the liquidity of the market may be reduced, meaning there may be fewer buyers and sellers active, which could potentially lead to wider spreads and increased volatility. Additionally, news and events that occur during these hours may not have an immediate impact on the price, as the market may not be as reactive. However, when the US market opens, any significant news or developments that have transpired during the off-hours could result in sharp price movements. It's important to be aware of these potential risks and have a well-defined strategy in place to navigate the market during these times.

CryptoDynasty Wed Jul 17 2024 | 7 answers 1738

I'm curious to understand the duration of Bitcoin futures contracts. Could you elaborate on how long these contracts typically last? Are they set for a specific period, such as a month or a quarter? Or do they have a more flexible duration that allows for expiration at different points in time? Understanding the length of these futures contracts would help investors and traders plan their strategies more effectively. Please provide some insight into this aspect of bitcoin futures trading.

CryptoLegend Wed Jul 17 2024 | 7 answers 1328

Could you please elaborate on the mechanics behind Bitcoin CPU mining? Specifically, I'm curious about how the computational power of a Central Processing Unit (CPU) is harnessed to mine for Bitcoins. What are the steps involved in the mining process? How does the CPU contribute to solving the complex mathematical problems required for mining? Are there any specific software or tools that are typically used for CPU mining? Furthermore, how profitable is CPU mining compared to other mining methods, and what are the potential challenges and limitations? I'd appreciate a detailed and concise explanation to gain a fundamental understanding of this process.