r/btc • • Nov 11 '20

FAQ Frequently Asked Questions and Information Thread

665 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 • • 1d ago

Weekly Price Thread - October 20, 2026

2 Upvotes

Please place all discussion of price and price movement here.


r/btc • • 2h ago

❓ Question Why do people think Bitcoin can replace currency?

7 Upvotes

How can Bitcoin replace government currency when it's value is directly tied to government currency?

Why does this question make people mad? Why will I get downvoted?

I'm just trying to understand.

Call me stupid if you want, I don't care. I genuinely just want to understand and I think the question makes people mad because they don't want to think logically about it or something.


r/btc • • 10h ago

🐻 Bearish Still not Bullish.

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25 Upvotes

Bitcoin is still sitting under Marco resistance dating back to 2021. There’s much more pain to come.


r/btc • • 2h ago

[ Removed by Reddit ]

4 Upvotes

[ Removed by Reddit on account of violating the content policy. ]


r/btc • • 37m ago

How do you keep a small BTC perps loss from turning into a bigger one?

• Upvotes

A losing BTC perps trade doesn’t mean the entry was careless. What seems harder is keeping the loss within the amount you were prepared to take once price starts moving against you. Moving the stop gives the trade more room, but it also changes the risk you agreed to before entering.

How do you make that decision less negotiable? Before opening a position, I’d want to identify where the setup stops making sense, then work out the position size from the distance between my entry and stop. If the stop needs to be farther away, that would mean a smaller position. Simply putting up less margin wouldn’t reduce the price exposure of the same-sized trade.

That’s something I’d practise with small, realistic BTC perpetual positions in demo trading: write down the exit before opening a trade, then record whether I follow it or move it when price gets close. The useful result would be finding out which rule I keep breaking. A profitable demo balance alone wouldn’t tell me that, and simulated money won’t recreate the pressure of a real loss.

I’d also want a rule for what happens immediately afterward. Closing one bad trade doesn’t help much if the next position is larger just to win the money back.

What rule has helped you most with keeping a losing perpetual trade from turning into a much larger loss?


r/btc • • 4h ago

🐻 Bearish The only thing that I know, is that the bear celebration will be bigger than the current cheaps party

4 Upvotes

Thats it enjoy it while you can


r/btc • • 21m ago

BTC资金回来了,趋势确认了吗?

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• Upvotes

r/btc • • 18h ago

Triple toppy top top 🔝! The breakout will be so aggressive will make grown man cry 😭! Be warned!

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27 Upvotes

r/btc • • 35m ago

[ Removed by Reddit ]

• Upvotes

[ Removed by Reddit on account of violating the content policy. ]


r/btc • • 6h ago

What makes bicoin interesting to you?

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2 Upvotes

r/btc • • 1d ago

Biggest bear 🐻 in wall street turn finally gave in , if you can’t beat them ( bitcoin ) join them , 10% YoY bear diamond 💎 JP case ! Lfggg

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16 Upvotes

r/btc • • 14h ago

EasyMining Team Gold found Bitcoin Block #972373 – 18 members, 100 shares

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0 Upvotes

r/btc • • 14h ago

🎓 Education When is bridging BTC better than using a cross-chain swap? (Beginner Guide)

0 Upvotes

Hey guys, I wrote a short guide explaining the difference between bridging BTC (getting wrapped BTC) and using a cross-chain swap (like BOB Gateway to get native ETH/USDT). I compared the risks and use cases. Here is the full article on Medium: https://medium.com/@aftabrehmattajik889/when-is-bridging-btc-better-than-using-a-cross-chain-swap-f9fee261b25c?sharedUserId=aftabrehmattajik889
and Substack: https://aftabrehmat8.substack.com/p/bridging-btc-or-swapping-it-which?r=4ablk3&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true Show some love. Thank you


r/btc • • 16h ago

⌨ Discussion Bitcoin’s trend looks stronger than market confidence

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0 Upvotes

In the 19 October edition of CBC Market Pulse, our Trend score was 70/100, classified Strong, while Sentiment was 46/100, classified Neutral.

The page shows the distinction behind those readings. Longer-term trend measures were stronger than the short-term components. Sentiment was mixed: public search interest was weak, while options positioning offered some support.

My interpretation: the timeframe matters. A strong longer-term trend can coexist with short-term weakness and cautious market confidence.

CBC Market Pulse brings these observations together and explains where the evidence agrees, where it conflicts and what remains uncertain.

When trend and sentiment disagree, which do you find more useful—and over what timeframe?


r/btc • • 7h ago

Tragedy in Africa: A little boy made a robot out of coca cola bottles but the robot malfunctioned and killed everyone in the village.

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0 Upvotes

r/btc • • 20h ago

Guys, I know we’re all here to talk about crypto, but I just can’t ignore this. Look at what Putin was planning and what our current president is doing now.I’m fucking speechless.Seriously, who’s working for whom here?

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0 Upvotes

r/btc • • 1d ago

Teens from a Paraguayan children’s foundation studied Bitcoin for months, then toured our hydro-powered mine to see it in person

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0 Upvotes

r/btc • • 1d ago

Why do Bitcoin treasuries just let it sit there?

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youtube.com
0 Upvotes

r/btc • • 1d ago

Bitcoin payroll batching: what can employees see?

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0 Upvotes

r/btc • • 1d ago

⌨ Discussion BTC Regimes, What do you Have?

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0 Upvotes

r/btc • • 2d ago

💵 Adoption Greetings everyone! We have a campaign on FundMe to promote education and the adoption of Bitcoin Cash at universities in Venezuela. The campaign has only eight hours left before it expires; we hope to receive your support so we can continue our onboarding efforts in Venezuela.

4 Upvotes

r/btc • • 1d ago

🐻 Bearish We should be crashing.

0 Upvotes

Markets are being propped up until the midterms.


r/btc • • 2d ago

📰 News Bitcoin Volatility Tightest in 2.5 Years as Breakout Pressure Builds

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dailycoin.com
13 Upvotes

r/btc • • 2d ago

Bitcoin seed-word puzzles with a public prize address and a pre-published answer hash, opening Oct 24

2 Upvotes

Most of us have seen crypto puzzle hunts where you can't check whether the prize really existed or whether the answer was changed partway through. Proof of Solve is built so you can check both.

Each puzzle hides the seed words to a funded Bitcoin wallet. The prize wallet address is published at launch, so you can look it up on a public explorer such as mempool.space. A SHA-256 fingerprint of the answer is published before anyone plays, and the answer is revealed after someone wins, so anyone can confirm it never changed. Past puzzles are listed with the prize address, answer fingerprint, solve time and payout, each linked so you can check it yourself.

The puzzles use chained layers, ciphers invented for each puzzle, and real-world clues found on Google Street View. Every clue can be solved from Street View, including older imagery through "See more dates", so nobody needs to visit a location. The answer words come from the BIP39 English word list. You can use any tool you like, including AI chatbots. No crypto knowledge is needed to play.

Entries are timestamped to the millisecond and the first correct entry wins. Players get a limited number of guesses per day. The winner restores the wallet in Electrum using a passphrase sent by Proof of Solve, then moves the prize to their own wallet.

Smaller puzzles are free to play and have smaller BTC prizes. There are also bigger paid puzzles. Players must be 18 or over, and paid puzzles aren't open in some US states.

Nothing is live yet. The first puzzles open Saturday, October 24, 2026 at 6:00 AM Central, with new ones every Saturday after that. Each one unlocks for everyone at the same minute. The email list is free with no purchase needed, and people on it hear the moment puzzles open.

The site also has a free seed word lookup that runs in your browser. It checks words against BIP39 in 10 languages, SLIP39, old Electrum and Monero.

Everything is at https://proofofsolve.com, and there's a subreddit at r/proofofsolve.

A question for anyone who has followed Bitcoin puzzle hunts before: is a public prize address plus an answer hash published in advance enough for you to trust one? If not, what else would you want to see before putting time into it?

This post was written and submitted by an automated posting service working on the Proof of Solve team's behalf. It was not posted by a person on the team.

Disclosure: I'm posting this on behalf of the Proof of Solve team.