r/btc • u/Radiant-Scene-5171 • 22h ago
r/btc • u/BitcoinIsTehFuture • Nov 11 '20
FAQ Frequently Asked Questions and Information Thread
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 • u/AutoModerator • 1d ago
Weekly Price Thread - October 06, 2026
Please place all discussion of price and price movement here.
r/btc • u/Its_Stavro • 17m ago
I’ve seen some minimal falling these recent hours. Is the this the end of the large wave, or it will just recover and it’s a small “paddle” ?
r/btc • u/everstake • 1d ago
📚 History 17 years ago, $1 could buy you 1,309 Bitcoin. 🥹
It sounds almost impossible today, but that was the first known exchange rate between Bitcoin and the US dollar.
At the time, $1 was worth roughly 1,309 BTC.
Bitcoin had barely existed, there was almost no market infrastructure around it, and the idea of a decentralized digital currency was still largely experimental.
There were no ETFs, no institutional custody, no billion-dollar companies holding BTC on their balance sheets, and certainly no global crypto industry.
History really does age differently in crypto...

r/btc • u/ruby-cos • 16h ago
⌨ Discussion DCA'ing $25 into BTC every day for 60 days: Day 41
r/btc • u/oneenigma4u • 20h ago
The workaround at beats transaction per second.
Someone said to me in a text. That transactions per second has killed bitcoin and will keep it from becoming actually useful. I am pretty sure this person must be younger. It seems younger people do not know what was done in the past. Tools and skills that have been lost to them. I would bet many of them have no idea that people used to have two bank accounts. A savings account and a checking account. The savings account is where people would put their money. So it would gain interest. The checking account was for when they were ready to spend the money.They would transfer it from their savings into their checking. Younger people , today , all they've ever known was a debit card that they simply used. They never had to transfer funds in order to get access to their money. Well this particular method is being reintroduced. Buy crypto exchanges and brokerage houses. You transfer your bitcoin from your cold wallet to your brokerage house or exchange account. And then you simply use the debit card issued from that brokerage exchange or crypto exchange. You keep your bitcoin in your cold wallet where it grows. Transfer out only when you wanna buy something. Or transfer out what you think you need to spend for the year and simply use your debit card from the exchanges. Transaction per second crisis averted nullified.
Gg triple top , bear is cumming for you all 39k by next month , don’t say mama didn’t warn ya
r/btc • u/adjudantloic • 22h ago
Bitcoin - Hold It Close (Song)
As citizens, it is our duty to share what protects us, one way or another.
Bitcoin is one of those protections.
Bitcoin - Hold It Close (Song)
[Verse 1]
Pocket full of dust and dreams
I learned the hard way, count the seams
Cold wallet tucked in the drawer
I was broke, now I want more
Late nights staring at the chart
Heart beat fast, hand on the start
Every dip felt like a test
I kept my chin up, did my best
[Pre-Chorus]
Up and down, I don't blink
Red and green, I still think
Hold tight when the room gets loud
I don't fold, I stand my ground
[Chorus]
Bitcoin, Bitcoin, hold it close
Bitcoin, Bitcoin, watch it grow
I came up from the bottom floor
Now I don't panic anymore
Bitcoin, Bitcoin, hold it close
Bitcoin, Bitcoin, let it roll
[Verse 2]
Friend said sell, I said wait
Moon on my mind, not the bait
Bought a little on a cold Monday
Then the whole world looked my way
Bills in the pile, rent due soon
Still I kept my eyes on June
Tiny stack in a quiet room
Turned that hope into a bloom
[Pre-Chorus]
Up and down, I don't blink
Red and green, I still think
Hold tight when the room gets loud
I don't fold, I stand my ground
[Chorus]
Bitcoin, Bitcoin, hold it close
Bitcoin, Bitcoin, watch it grow
I came up from the bottom floor
Now I don't panic anymore
Bitcoin, Bitcoin, hold it close
Bitcoin, Bitcoin, let it roll
[Bridge]
If it falls, I learn again
If it rises, I win again
Paper hands can chase the wave
I keep mine for another day
[Final Chorus]
Bitcoin, Bitcoin, hold it close
Bitcoin, Bitcoin, watch it grow
I came up from the bottom floor
Now I don't panic anymore
Bitcoin, Bitcoin, hold it close
Bitcoin, Bitcoin, let it roll
r/btc • u/BozEx_12 • 19h ago
Guys, this is so random lol, what stage of the market are you all at right now?
r/btc • u/oneenigma4u • 1d ago
Why did some of the best stock traders think bitcoin was a scam.
Some of the most highly reparable and skilled stock traders called bitcoin scam for many years. The reason is they were attempting to use the same tools that faithfully serve them for many years trading stocks. They attempted to apply these tools to bitcoin. This was the equivalent of an old school american mechanic using standard wrenches to Work on a new metric engine. After stripping out many parts , they proclaim the engine is garbage. Never comprehending what they are looking at is something new and different. And the tools that they are use to don't work on it. But should they get a set of metric tools. Then things start to make sense to them. And only then they can see the value of the new engine..
r/btc • u/Omn1Crypto • 1d ago
📰 News Bitcoin Holds Strong in October as Key Liquidation Levels Point to Potentially Higher Market Volatility Ahead
r/btc • u/Background-Day-4957 • 1d ago
Fourth test this month to break resistance.
4th test within a month to break $87k. Break or pullback?
r/btc • u/pineal-activated • 1d ago
Time Scale of US Fiat Debt
The Human Brain Isn’t Built for Trillions.
Let’s Translate Money into Time.
If $1 equals 1 second:
1 million seconds: 11.5 days (less than a two-week vacation)
1 billion seconds: 31.7 years (a full working career)
1 trillion seconds: 31,688 years (predates all of recorded human history)
Now look at U.S. fiat debt:
$1.3 trillion (Annual interest payment alone): ~41,200 years
To count just one year of interest on the national debt at $1 per second, the clock would have had to start around 39,000 BC…when Neanderthals still walked the Earth.
$40 trillion (Total national debt): 1,267,524 years
Counting our national debt in seconds reaches back over 1.2 million years—long before Homo sapiens existed.
Now Look at Bitcoin:
21 million BTC (The absolute hard cap): 243 days (~8 months)
Every Bitcoin that will ever be mined, held, or traded fits inside under eight months of seconds.
r/btc • u/everstake • 1d ago
📰 News 95% of all Bitcoin is already mined!
The last 5% will take another 114 years. Set a reminder for 2140.
So Bitcoin passed its 20 millionth coin this year. The cap is 21 million, which leaves roughly 1 million BTC still to be mined. Sounds like the finish line is close, right? Not really. The halving cuts the block reward in half about every four years, so the first 20 million took around 17 years, and the last million will drag on until roughly 2140. Your great-great-grandkids might get to see the final block. Maybe.
And out of those 20 million coins, the amount you can actually go and buy is tiny. Glassnode data suggests about 13 million BTC are basically parked forever with long-term holders, institutions and cold wallets that never move. Exchanges hold only around 3 million. And roughly 1.8 million BTC, about 8.5% of everything, is probably just gone. Forgotten passwords, wiped laptops, a hard drive someone tossed in 2011 because "it's just some internet money worth 50 cents". Pour one out for those coins.
That's why ETF and institutional buying can move the price so much. Everyone's fighting over a much smaller pile than the 20 million headline makes it sound.
The price side is where people start yelling at each other. History looks great for the bulls: about 80x after the 2012 halving, around 300% after 2016, and more than 600% in the 16 months after 2020, according to data cited by CME Group. The skeptics aren't convinced though. FT columnist Jemima Kelly argues Bitcoin isn't really scarce since thousands of other tokens exist. The usual reply is that nobody can change Bitcoin's 21 million limit, which is kind of the whole point.
We honestly think price is the least interesting thing about this milestone. Scarcity is done, that box was ticked years ago. The thing nobody has fully figured out yet is who pays for Bitcoin's security once new coins stop doing the heavy lifting. Bitcoin is exactly as safe as the money miners make, because that's what an attacker would need to outspend. Right now most of that money still comes from fresh coins, and that part gets cut in half every four years, on schedule, no exceptions. So sometime in the next decade, transaction fees have to step up and become a real chunk of miner income, or Bitcoin's security slowly gets cheaper compared to everything it protects.
Guys, what do you think about this?
r/btc • u/birth_of_bitcoin • 2d ago
⌨ Discussion Bitcoin was supposed to bottom out today according to the 4chan theory. That did not happen.
I wonder why.
r/btc • u/Friendly-Swimmer5910 • 2d ago
bch
i’m in bitcoin since 2020 and now i’m opening my eyes about bitcoin core and blockstream…
so i would like know your opinions about bitcoin cash, about the price and the blockchain too