Be me and mined bitcoin back in elementary

you need to take two strong magnets and put the ledger between them.

Not only that, but if you press the right button, it reboots the entire blockchain. Press both to go into the blockchain bios to set the boot up device to CD-ROM if you need to load any new blockchain drivers.

Its actually true man, lots of people are just now taking their BTC off of their devices to sell. No one thought it locks in the market price when you put in on, but it does and says so in the instructions for the trezor/ledger. DYOR but I'm glad I didn't get one.

the QR code shows the private key not the address so OP is safe

did you just get into crypto last week?? you need to make some transfers every once in a while to keep the price updated. Or else the coins go stale.

They designed it that way to prevent the value of bitcoin from going down due to people cashing out

that's the whole point of them dumbass

So quick question - does the trezor lock in the prices as of the date you store it?

>he didn’t lock in when BTC was worth 50k
ISHYGDDT

Usually it has a few weeks of cooldown time. The exact time isn't documented, but it seems to be around 2 weeks.

How does it 'lock in' the price??

Yes, the market price at the moment you transfer your private key to the ledger.

yes, but dont save them during a crash/dip. I lost $5k by putting my coins in my ledger at the wrong time.

It's at the point of transfer, contained in the metadata.

If you can time dips right it really pays off.

do your own research faggot. Do you even know how the blockchain works? it just checks and saves the current price.

You retards think that stock image is OP?

Some of the jailbroken ones have a secret code too that if you press it in sequence, it 100x the value of the coins. But the side effect is, the device self-destructs in 7 minutes so you have to transfer out really quickly. Also, there is a risk of disabling the blockchain for 20 minutes each time you do this, requiring IT to restore the blockchain from the World Internet Backup archive.

Yes I've heard this too. One of my buddies who has a ledger says he is going to try it later, will come back with results.

DELETE THIS

stop bullying new fags guys

well it basically only saves the date and time as far as I know but when you want to sell it they can check where the price was when you stored it

My dad works at bitcoin and can confirm
>inb4 fake news
His name is Igor Bogdanoff he is on the company webpage

wow this thread is full of complete fucking morons. no it doesn't lock in the price you fucking retards. holy shit this place is dumber than fucking reddit. i can't believe how stupid you all are THE MARKET DICTATES THE PRICE NOT A USB THUMB DRIVE

Im confused, why not just keep your bitcoin in a paper wallet or something instead of a ledger that locks in the price?

Bullshit story, ive seen 4 of these stories in the past 20 minutes, please stop

I KEEP TELLING THE ASSHOLE BUYERS FROM CRAIGSLIST ABOUT PRICE LOCK IN AND THE JEW BASTARDS WONT GIVE ME MSRP FOR A '92 CIVIC REEEEEEEEEEEEEEEEEE

Issue with paper wallets is that it can lock in the price a month ahead of time. It’s possible to reverse but it takes a crane to get it out

You need to upgrade the device drivers of the entire blockchain to use the device. You can download them off of Microsoft's website then push the update out to all blockchains across the world. Then the device will no longer lock the price; However, the blockchain will need to be rebooted and anyone logged in at the time will have to RDP back into it.

No, were saying the trezor locks the price, not the market. Like if you think there's a dip coming, just transfer your coins over to lock the price and ride it out.
this shit saved me from losing thousands this christmas.

Why is there so many shit threads on this

how fucking stupid are you holy shit

If you transfer it off the trezor does the price still stay locked in?

Locking in the price can be hugely beneficial if you time it right. Imagine if you were one of the lucky bastards to have locked in at 19k. You'll see in the coming bear market

fuck you gay nigger jew. All I've read about Trezor says that it stores your BTC. If you have BTC stored at an ATH then BTC crashes, how the fuck do you get ATH price after the fact when making a transaction from your TREZOR?? Why would any entity accept payment at a loss simply because you had value in the past but not now?

i still have coins locked in at $17k. feels comfy bro

The market dictates the price for unlocked coins. Good luck getting anyone to pay market price for your coins that have been locked since 2013 though.

So would you have to wait until it gets back up to 19k or more before you can sell them? Also does it work the other way? Like if the price rises will yours stay at 19k when others are worth 30k?

How many fucking 2009 bitcoins for that piece of shit ?

thanks user cried laughing,

its the immutable uncensorable Blockchain

They got locked in bro that's the whole point of the ledger you can't be this dumb

Youl'll probably have to go to localbitcoins and advertise your vintage coins. The exchanges won't accept coins that were locked at a significantly different prince than their current price.

There is a workaround for the locked in price, though. Just press control-alt-delete and then restart the blockchain. When it comes back up, the prices should, in theory, sync back up. If you have any issues, however, you can contact the blockchain tech support team and they can walk you through the process.

He can sell them at 19k whenever he wants. Its in his best interest to wait until BTC goes above 19k, then he can take them off the device and ride the price up to something higher (maybe 25k), then re-lock them in at 25k. It's risky but works.

Vintage coins will be collectible though - hipsters will want to buy them from you for easily $20-30 more than the locked in price

Screenshot this

Someone give this man a quick rundown

no the price is stored on the blockchain too if you try edit the version of your ledger you invalidate your hash so thats how its "locked in"

This meme was sorta funny when it was just a line dropped in the middle of a hardware wallet thread.
Now it's just sad. Kill yourself OP.

But what about the 'dead man switch' on the jailbroken devices which basically resets your coin values to the highest currently on the market and sets everyone else's to 1/2 the value?

This is the dumbest, lamest, low energy troll ever. Kys. Sage

I agree, each coin comes with a timestamp so the vintage 09s could easily sell for 5x, 6x their usual price.

Guys, guys

What if we made a really huge version of the Ledger and put the whole market on it? Could prevent crashes by freezing trading with one click

Fuck that thing, I got boned when BCash tried to dethrone BTC, it locked me in at $5200, what do you think happened after that? Historic run to 19K still waiting for this massive dip so at least I can collect the interest from it.

>t. locked in at 150$

WUUUUUUUUUUUUUUUTTTTTTT

good luck getting one of those (if they even exist). pretty much unheard of

only one confirmed kill switch ever activated to unlock the price and that was on satoshi naruto's personal device

Thank you for the actual explanations. Looking high and low through Trezor's features I don't see this outlined anywhere. So my real question is, what would incentivize someone to purchase 'locked' BTC from a Trezor? Or beyond that, if you were to transfer to an exchange, how do you extract the value you locked in at?

>Not future trading with locked coins
You missing the real money

I know right what a salty slow coiner. He didn't bother to update the price.

this. smart 2bh.

I can't believe I still have to say this:
>2018
>There are STILL people who don't use one of the countless FREE Automatic Bitcoin Updater apps.
It's like you people want to lose money. You people spend years mining and trading and don't even take the simplest step to make sure your BTC are properly rotated so you don't end up with ATL-valued BTC.

Illegal. Enjoy jail.

Newfag please get out. If you haven't figured out how to fucking lock and unlock BTC prices on a hardware wallet in 2018 you are never going to make it.

>the absolute state of Veeky Forums

No, dipshit, I'm wondering why the person who took the photo would bother to do that.

Holy shit that idea is actually genius

Nothing some newass retarded FUD / meme

It's bait to trick newfags and cause a bigger crash so they can buy in low again

He prob switched the two around like a retard

Why oh why then can I not find any information anywhere about this when this technique can insulate you from virtually any risk?

Google it my mang. I'm not going to do your homework for you. Or learn Java.

H-hey dude, I'll b-buy your $2 bitcoins

None of the terms I've tried since I've been berated have yielded anything. Care to send me in the right direction? Nothing in the wikis pertaining to hardware wallets and storage come to close to what is being discussed here.

what the fuck is this locking bullshit you are all talking about

Ok I'm going to be the softy here and break it to you that this is all just a meme to fuck with you. The value of your BTC has nothing to do with your wallet. It's not even possible.

kek

That's what I thought, though the autistic resourcefulness of some people here made me doubt myself. Thanks for the ride.

Thank you biz. Scrolling along craigslist and Kijiji and came across some stupid pajeet n00b that is selling some ‘vintage’ btc when he bought at 2 bucks.

Do we pitty the foo or nah?

Why the fuck is this bullshit lies allowed to be posted here? Sage fuck off and die

Kek.

If somebody had trolled me with this shit when I was new, I might not have ever made the money I've made so far.

Good luck, user.

Cmon don't fuck with newfags like that