How To Encrypt Bitcoin core wallet | Encrypt Bitcoin core wallet

How To Encrypt Bitcoin core wallet | Encrypt Bitcoin core wallet - Crypto Wallets Info

                                   

Crypto Wallets Info

How To Encrypt Bitcoin core wallet. This is a step by step guide to using the Bitcoin wallet client. How to download it. How to Encrypt is and protect your Bitcoin. Also general knowledge on how to use the wallet. we would recommend you do this. PLEASE do not forget your encryption password (Passphrase) as this will prevent you from accessing your wallet funds. you can watch and see How to get your Bitcoin Core wallet up and running. Backup it and protect it with a strong password.

Is Bitcoin money?

Good question! The short answer is yes! But the long answer requires that we talk a little about what “money” is or what it should be. 

Money is basically an idea. It is a system that we can all agree upon which allows us to exchange value, so we do not have to carry around cows or chickens with us to trade for the things we need.

An ideal money or “currency” should have the following properties:

Portable

Fungible (interchangeability) 

Dividable

Durable

Cognizable (easily identified)

Stable

Does Bitcoin fit the bill?

Well it’s certainly portable. It is all digital. It weighs nothing (unlike gold which can be heavy and bulky in large amounts. For that matter, traditional paper currencies can also become heavy and bulky in large amounts!). It can be sent across the room or around the world with the same ease and comfort. You can carry it on a piece of paper, a laptop, or even your smart phone.

It is Fungible. Every bitcoin is like every other bitcoin (unlike shells, beads, and traditional precious metal coins which can be “shaved” or diluted in purity)

It is dividable. It is actually one of the most dividable currencies ever conceived! It is possible to spend small fractions of bitcoins and no need exists to make change. When was the last time you were able to spend 1/8 of a penny?

Bitcoin is durable. It is protected by strong encryption and the Blockchain exists in thousands if not millions of locations simultaneously. You would literally have to delete the blockchain from every computer and smart phone in the world to destroy a bitcoin.

Bitcoin is cognizable or easily recognized. It’s based on math. No one can dispute a number or deny that 1 + 1 =2. People are just beginning to understand what Bitcoin is. There is a bit of a learning curve. But once you are familiar with it, you will know it when you see it.

Is Bitcoin stable? Well the current value of a bitcoin has been quite volatile lately in relation to other traditional currencies. But the Bitcoin plan calls for the creation of only 21 million bitcoins. In this way, Bitcoin will try to avoid the pitfalls of modern fiat currencies such as inflation, deflation, market manipulation, monetary policy, quantitative easing, and other central manipulations that effect the day-to-day value of the money we use.

👓 Command Lines (Core Wallets):

- Walletpassphrase [yourpassphrase] 60

- Importprivkey [yourkey]

- dumpprivkey [youraddress]

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Disclaimer: I am definitely not giving you any financial or investment advice. This video and our website at Ultimate Money is for entertainment and education purposes only. It is of the utmost importance that you do your own research and use your own best judgment before making your own decisions.