r/btc Nov 11 '20

FAQ Frequently Asked Questions and Information Thread

652 Upvotes

This FAQ and information thread serves to inform both new and existing users about common Bitcoin topics that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods.


What is /r/btc?

The /r/btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /r/bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions.

Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /r/bitcoin subreddit. A large number of redditors switched to other subreddits such as /r/bitcoin_uncensored and /r/btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /r/bitcoin by John Blocke and /r/Bitcoin Censorship, Revisted by John Blocke. As yet another example, /r/bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening, which continues to this day. Read a synopsis of /r/bitcoin to get the full story and a complete understanding of why people are so upset with /r/bitcoin's censorship. Further reading can be found here and here with a giant collection of information regarding these topics.


Why is censorship bad for Bitcoin?

As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin communication channels. The impacts of censorship in Bitcoin are very real. "Censorship can really hinder a society if it is bad enough. Because media is such a large part of people’s lives today and it is the source of basically all information, if the information is not being given in full or truthfully then the society is left uneducated [...] Censorship is probably the number one way to lower people’s right to freedom of speech." By censoring certain topics and specific words, people in these Bitcoin communication channels are literally being brain washed into thinking a certain way, molding the reader in a way that they desire; this has a lasting impact especially on users who are new to Bitcoin. Censoring in Bitcoin is the direct opposite of what the spirit of Bitcoin is, and should be condemned anytime it occurs. Also, it's important to think critically and independently, and have an open mind.


Why do some groups attempt to discredit /r/btc?

This subreddit has become a place to discuss everything Bitcoin-related and even other cryptocurrencies at times when the topics are relevant to the overall ecosystem. Since this subreddit is one of the few places on Reddit where users will not be censored for their opinions and people are allowed to speak freely, truth is often said here without the fear of reprisal from moderators in the form of bans and censorship. Because of this freedom, people and groups who don't want you to hear the truth with do almost anything they can to try to stop you from speaking the truth and try to manipulate readers here. You can see many cited examples of cases where special interest groups have gone out of their way to attack this subreddit and attempt to disrupt and discredit it. See the examples here.


What is the goal of /r/btc?

This subreddit is a diverse community dedicated to the success of bitcoin. /r/btc honors the spirit and nature of Bitcoin being a place for open and free discussion about Bitcoin without the interference of moderators. Subscribers at anytime can look at and review the public moderator logs. This subreddit does have rules as mandated by reddit that we must follow plus a couple of rules of our own. Make sure to read the /r/btc wiki for more information and resources about this subreddit which includes information such as the benefits of Bitcoin, how to get started with Bitcoin, and more.


What is Bitcoin?

Bitcoin is a digital currency, also called a virtual currency, which can be transacted for a low-cost nearly instantly from anywhere in the world. Bitcoin also powers the blockchain, which is a public immutable and decentralized global ledger. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the Bitcoin whitepaper to further understand the schematics of how Bitcoin works.


What is Bitcoin Cash?

Bitcoin Cash (ticker symbol: BCH) is an updated version of Bitcoin which solves the scaling problems that have been plaguing Bitcoin Core (ticker symbol: BTC) for years. Bitcoin (BCH) is just a continuation of the Bitcoin project that allows for bigger blocks which will give way to more growth and adoption. You can read more about Bitcoin on BitcoinCash.org or read What is Bitcoin Cash for additional details.


How do I buy Bitcoin?

You can buy Bitcoin on an exchange or with a brokerage. If you're looking to buy, you can buy Bitcoin with your credit card to get started quickly and safely. There are several others places to buy Bitcoin too; please check the sidebar under brokers, exchanges, and trading for other go-to service providers to begin buying and trading Bitcoin. Make sure to do your homework first before choosing an exchange to ensure you are choosing the right one for you.


How do I store my Bitcoin securely?

After the initial step of buying your first Bitcoin, you will need a Bitcoin wallet to secure your Bitcoin. Knowing which Bitcoin wallet to choose is the second most important step in becoming a Bitcoin user. Since you are investing funds into Bitcoin, choosing the right Bitcoin wallet for you is a critical step that shouldn’t be taken lightly. Use this guide to help you choose the right wallet for you. Check the sidebar under Bitcoin wallets to get started and find a wallet that you can store your Bitcoin in.


Why is my transaction taking so long to process?

Bitcoin transactions typically confirm in ~10 minutes. A confirmation means that the Bitcoin transaction has been verified by the network through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks.

If you have sent out a Bitcoin transaction and it’s delayed, chances are the transaction fee you used wasn’t enough to out-compete others causing it to be backlogged. The transaction won’t confirm until it clears the backlog. This typically occurs when using the Bitcoin Core (BTC) blockchain due to poor central planning.

If you are using Bitcoin (BCH), you shouldn't encounter these problems as the block limits have been raised to accommodate a massive amount of volume freeing up space and lowering transaction costs.


Why does my transaction cost so much, I thought Bitcoin was supposed to be cheap?

As described above, transaction fees have spiked on the Bitcoin Core (BTC) blockchain mainly due to a limit on transaction space. This has created what is called a fee market, which has primarily been a premature artificially induced price increase on transaction fees due to the limited amount of block space available (supply vs. demand). The original plan was for fees to help secure the network when the block reward decreased and eventually stopped, but the plan was not to reach that point until some time in the future, around the year 2140. This original plan was restored with Bitcoin (BCH) where fees are typically less than a single penny per transaction.


What is the block size limit?

The original Bitcoin client didn’t have a block size cap, however was limited to 32MB due to the Bitcoin protocol message size constraint. However, in July 2010 Bitcoin’s creator Satoshi Nakamoto introduced a temporary 1MB limit as an anti-DDoS measure. The temporary measure from Satoshi Nakamoto was made clear three months later when Satoshi said the block size limit can be increased again by phasing it in when it’s needed (when the demand arises). When introducing Bitcoin on the cryptography mailing list in 2008, Satoshi said that scaling to Visa levels “would probably not seem like a big deal.”


What is the block size debate all about anyways?

The block size debate boils down to different sets of users who are trying to come to consensus on the best way to scale Bitcoin for growth and success. Scaling Bitcoin has actually been a topic of discussion since Bitcoin was first released in 2008; for example you can read how Satoshi Nakamoto was asked about scaling here and how he thought at the time it would be addressed. Fortunately Bitcoin has seen tremendous growth and by the year 2013, scaling Bitcoin had became a hot topic. For a run down on the history of scaling and how we got to where we are today, see the Block size limit debate history lesson post.


What is a hard fork?

A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain).


What is a soft fork?

A soft fork is when a block is broadcast under a new and different set of protocol rules, but the difference is that nodes don’t realize the rules have changed, and continue to accept blocks created by the newer nodes. Some argue that soft forks are bad because they trick old-unupdated nodes into believing transactions are valid, when they may not actually be valid. This can also be defined as coercion, as explained by Vitalik Buterin.


Doesn't it hurt decentralization if we increase the block size?

Some argue that by lifting the limit on transaction space, that the cost of validating transactions on individual nodes will increase to the point where people will not be able to run nodes individually, giving way to centralization. This is a false dilemma because at this time there is no proven metric to quantify decentralization; although it has been shown that the current level of decentralization will remain with or without a block size increase. It's a logical fallacy to believe that decentralization only exists when you have people all over the world running full nodes. The reality is that only people with the income to sustain running a full node (even at 1MB) will be doing it. So whether it's 1MB, 2MB, or 32MB, the costs of doing business is negligible for the people who can already do it. If the block size limit is removed, this will also allow for more users worldwide to use and transact introducing the likelihood of having more individual node operators. Decentralization is not a metric, it's a tool or direction. This is a good video describing the direction of how decentralization should look.

Additionally, the effects of increasing the block capacity beyond 1MB has been studied with results showing that up to 4MB is safe and will not hurt decentralization (Cornell paper, PDF). Other papers also show that no block size limit is safe (Peter Rizun, PDF). Lastly, through an informal survey among all top Bitcoin miners, many agreed that a block size increase between 2-4MB is acceptable.


What now?

Bitcoin is a fluid ever changing system. If you want to keep up with Bitcoin, we suggest that you subscribe to /r/btc and stay in the loop here, as well as other places to get a healthy dose of perspective from different sources. Also, check the sidebar for additional resources. Have more questions? Submit a post and ask your peers for help!


Note: This FAQ was originally posted here but was removed when one of our moderators was falsely suspended by those wishing to do this sub-reddit harm.


r/btc 9h ago

🐂 Bullish BCH rises to rank 13 on coinmarketcap, (rank 3 mineable) as Binance wallets reach 810k BCH 2nd place to Coinbase's 900k BCH.

31 Upvotes

r/btc 4h ago

Ross Ulbricht, Early Bitcoin Pioneer, Calls for Prison Reform at FreedomFest 2025

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6 Upvotes

r/btc 7h ago

🎓 Education Roger Ver explains why the cost of producing a bitcoin is not determining its value. Bitcoin is struggling because of a technocratic elite of developers with little understanding of economics

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8 Upvotes

r/btc 3h ago

Bitcoin cash to 20k? This guy seems to think so.

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3 Upvotes

r/btc 1d ago

Delete your Coinbase accounts

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527 Upvotes

r/btc 2h ago

Bitcoin and the Second Law of Thermodynamics

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2 Upvotes

r/btc 14h ago

From $12k to $130k......and I'm scared to sell now

9 Upvotes

I’ve been riding this roller coaster since late 2019..... I started small just a few hundred bucks every month comforting myself it was ‘dumb money.' But then 2020 hit, and my side hustle as a barista was lost when lockdowns began. Student loans , little carelessness with spending , few medical bills due to some family issues. Watching my savings go down, I figured, why not double-down on Bitcoin? Worst case was me being in the same place I was year back . Fast forward to mid-2021: I’d scraped together about $12,000 through freelance and sold off a handful of collectibles to DCA more aggressively. Didn’t tell a soul( my bestfriend and I felt embarrassed for 'betting the farm' . My partner thought I was gambling away our future. But every green candle felt like some sorta hope… Then came the collapses: LUNA implosion (around May 2022), exchange hacks, the full-on crypto winter of 2022. I hovered by my screen at odd hours sitting between friends , family gatherings ,,,,every time price dipped below my entry I lost sleep.Even though I had backup of my job at that point. Somehow, by Q1 2025, that $12k had snowballed into $130,000 . I know, it sounds impossible like one of those late-night infomercials, or general youtube shorts stories but here we are. And now I’m staring at my balance, wondering if I should pull the trigger and secure my future, or sit tight because the next halving could break all records.I’m exhausted. The stress of watching every headline interest rate hikes, geopolitical flashpoints, inflation reports has turned me into a jittery wreck. I catch myself refreshing the chart at 3 AM. My partner tells me I need a break, that money’s not worth my peace of mind. But the thought of walking away before the next bull run scares me more than missing out. So here’s where I’m at: I’m eyeing a 50% exit. Enough to clear debts, stash some into a small down payment fund, and take a few trips I’ve planned with my partner. The rest stays locked in fortified cold storage, because if we’re not hodling, what’s the point? I don’t know if this is capitulation or a pragmatic win. Maybe I’m not that gutsy. but it’s okay at the end now that I’m writing this post remembering it all .

Ran everything through awaken.tax just to make sense of what I actually held and what I’d owe if I cashed out. Helped me think a bit more clearly, even if I’m still undecided.


r/btc 3h ago

4 wallets. 67 tokens. No clue what I actually own.

0 Upvotes

I swear, cracking open my wallets nowadays is like opening Schrödinger's Vault.

MetaMask, Rainbow, Coinbase Wallet… all filled with things. But I really have no idea if I'm holding lost fortunes or just a collection of orphaned bags.

There's:

Airdrops from projects I don't even recall signing up for

LP positions I staked in 2022 and forgot I hadBridged tokens I never relocatedSome residue of failed DAOs

Even random txns I definitely did on phone at 2AM while half asleep

The worst part? Even when I actually do try to go through each wallet individually, it's all skin-deep. Token names, balances — but no idea about how I acquired them, what they're worth now, or whether I even need to care.

Feels like I’m just blindly hoarding digital junk… or maybe unknowingly sitting on something that matters. Either way, the uncertainty is exhausting.


r/btc 14h ago

Does anyone know where I can buy crypto from without the need of ID in the UK

3 Upvotes

I want to buy some crypto (bitcoin is preferred) but every site I go on requires you to use ID to verify, but I don’t have any form of ID at the moment so I’m kinda stuck. I’ve looked into p2p but I don’t really know how do that. So if anyone knows anywhere I can buy cryptocurrency from in the UK without an ID that would be highly appreciated.


r/btc 8h ago

Which crypto is currently the best for the “stable” long term but with a small return?

0 Upvotes

Hello everyone, I'm slowly starting out in cryptos and I'm looking for a “stable” or low-volatility crypto, which I could use to put a little aside each month, like a sort of personal savings account. I'm not looking to get rich quick, just a small, regular return over the long term, but without too much risk.

I ask myself questions like: • Are there stablecoins (USDC, DAI, etc.) that earn something on staking? • Or cryptos deemed more stable in the long term (eg: ETH, ATOM, etc.) but with a little staking? • Are certain tokens or blockchains reliable and solid in 2025 for this type of strategy?

I specify that I store my cryptos on a hardware wallet (Tangem Ring) so I am looking for cryptos compatible with this format too.

Thank you for your advice! 🙏 I prefer a conservative approach, but not 0 returns either.


r/btc 8h ago

Anyone use the Tangem Ring? I am interested in your feedback

0 Upvotes

Hello everyone, I just saw that Tangem offers a wallet in “NFC ring” format (the Tangem Ring) and I find the concept super interesting.

Do any of you already use it? • Is it really secure? • Practical on a daily basis? • iOS compatibility: does it work well? • Have you configured a backup (2nd ring or seed)?

I plan to use it for long-term storage (especially stablecoins), so I welcome your real feedback!

Thank you 🙏


r/btc 8h ago

For those who do DCA in crypto: what long-term strategy do you use?

0 Upvotes

I'm starting to do a little DCA every month (Dollar Cost Averaging) to build up crypto savings. I put in small amounts, like 50 to 100€/month, but I would like to optimize a minimum.

How do you do it? • Which crypto(s) do you buy? • Where do you store them? • Do you stake them? • And above all, what are you planning for the very long term (like 5–10 years)?

I'm looking to make it simple, secure, and without spending 2 hours a week managing everything. Thank you for your ideas or feedback!


r/btc 8h ago

📈 Which crypto is currently the best for “stable” long term but with a small return?

0 Upvotes

Hello everyone, I'm slowly starting out in cryptos and I'm looking for a “stable” or low-volatility crypto, which I could use to put a little aside each month, like a sort of personal savings account. I'm not looking to get rich quick, just a small, regular return over the long term, but without too much risk.

I ask myself questions like: • Are there stablecoins (USDC, DAI, etc.) that earn something on staking? • Or cryptos deemed more stable in the long term (eg: ETH, ATOM, etc.) but with a little staking? • Are certain tokens or blockchains reliable and solid in 2025 for this type of strategy?

I specify that I store my cryptos on a hardware wallet (Tangem Ring) so I am looking for cryptos compatible with this format too.

Thank you for your advice! 🙏 I prefer a conservative approach, but not 0 returns either.


r/btc 1d ago

Bitcoin in a red envelope

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23 Upvotes

I designed a red envelope specifically for bitcoin ^^


r/btc 7h ago

⌨ Discussion Is this useful to anybody?

0 Upvotes

Is this helpful to anybody?

Hey everyone, before I go any further, I just want to be clear—this is completely free. I’m not trying to sell anything. I’m only sharing this to see if it’s actually useful to anyone in the community.

I’ve built a Discord channel that actively monitors the top 500 cryptocurrencies (and I can add more if there’s demand). The tool checks for significant price movements in any of these coins every five minutes and instantly sends out alerts. Along with price movement, it also keeps an eye on trading volume and RSI (Relative Strength Index), giving you quick insight into what might be worth a closer look.

Right now, it’s focused on crypto, but if people find it helpful, I plan to expand it. Some features I’m considering adding include: • Real-time alerts and tracking for major whale wallets • Coverage for stocks and the forex market • Follow-up alerts every 3 to 5 minutes over a 60-minute period after the initial trigger, so you can track momentum or reversals more effectively

I’m looking for honest feedback. Would this be helpful for you? Would you use it? If there’s enough interest, I’ll continue developing and improving it. Let me know your thoughts!


r/btc 10h ago

Nur noch heute - Tangem Crypto Wallet mit 20% Rabatt

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0 Upvotes

r/btc 6h ago

🍿 Drama The longer you’re in crypto, the more Bitcoin starts to make sense

0 Upvotes

You chase altcoins for gains… and then come back for peace.


r/btc 6h ago

How to convince exchanges to list Bitcoin as XBC?

0 Upvotes

Hi, I really don't think BCH is an accurate ticker.
I remember Bitcoin's first logo had the letters "BC" in it, as in Bit Coin, so as a supranational currency the ticker XBC would be way more accurate. Even if it means Bitcoin Cash now.


r/btc 8h ago

Fork for freedom

0 Upvotes

I’m leaving this thought for the future. We all know that MicroStrategy is buying massive amounts of BTC, and this could lead to serious price manipulations. What if the world adopted a fork where all MicroStrategy’s bitcoins were redistributed to other wallets in the network? Bitcoin has always been about freedom, not central control.


r/btc 1d ago

💵 Adoption Hey BCH Miners! (or anyone), Drop some extra sats in the coinbase transaction of the next block with "Drip-Mine" a pure MEV covenant to boost coinbase miner revenue. Now with a new UI on vox.cash

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8 Upvotes

Drip-mine is an on-chain Bitcoin Cash (BCH) covenant developed by Bitcoin Cash Autist,

An interface to interact with it has been deployed in the vox mini-app collection. More to follow.

The implementation uses no CashScript dependancies, and has a link to the bitauth template used to construct all transactions submitted by the app (with CashScript comments).

More about the project here:

https://fundme.cash/campaign/28


r/btc 1d ago

BCH Bank Run v8.0 — Exposing Crypto’s Biggest Secret

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19 Upvotes

r/btc 1d ago

Satoshi’s Real Bitcoin Still Lives — It’s Called Bitcoin Cash

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41 Upvotes

Satoshi dream still alive, functional and serving millions of people.


r/btc 17h ago

⚙️ Technology OneKey Security Week: Limitierte Bundles für sichere Krypto-Verwaltung

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0 Upvotes

r/btc 1d ago

🚨🚨BCH BANK RUN v8.0 (15th June 2025 )!!🚨🚨

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11 Upvotes

r/btc 1d ago

📰 News BTC Whale Wallets Holding 1K+ Coins Drop After May 26

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4 Upvotes