You can always find ways to make it harder for someone to get your #Bitcoin, but if you over-complicate it, you could end up making it even too hard for yourself - many lost their funds this way.
I've received many questions lately, but by far the most common question is “What's the best way to secure #Bittcoin?”
🧵So here’s a thread with my opinion on securing #Bitcoin
You can always find ways to make it harder for someone to get your #Bitcoin, but if you over-complicate it, you could end up making it even too hard for yourself - many lost their funds this way.
This means very different things for different people, depending on your technical experience, understanding of Bitcoin, how much you are holding, etc.
I strongly recommend at least learn to hold your own keys before buying, but if you can’t wait, it’s better to leave it there than holding yourself if that’d make you feel like you have no clue what’s going on.
You should make sure to never enter your backup words on a computer, learn to verify addresses on the device, and so on.
Using your own node is an important improvement in terms of security and privacy, as you cease to rely on 3rd parties for interacting with the Bitcoin network.
That someone could:
- Know which txs you're interested in - privacy issue
- Provide false information - security issue
- Go/ get shut down - resilience issue
Using your own node fix this
Here again, there are many options and a lot to learn, like supply chain attacks, retirement attacks, and other security concerns. You might come up with different answers for your specific needs.
You can consider using an airgapped laptop or an old phone to mitigate that, but there are pros and cons for any choice.
Multisig lets you mix different devices to reduce trust in each one of them, and in case one is compromised - you are still in control of your funds.
I just outlined the order I would sort by the most common approaches from the most user-friendly to the most security-minded, now it's on you to choose.
More from Crypto
1/ Welcome to #DeFi Wednesday.
Let's talk about how interest-bearing cash on a blockchain is going to revolutionise boring corporate treasury management that concerns every company is is a larger business than all crypto trading in the world.
Enter the thread
👇👇👇
2/ Blockchain community is often seen as toxic maxis and redditors who shill other their weekly favourite shitcoin in the hope of getting Lambo.
Sometimes we also do things that progress humanity towards the better future and interest-bearing cash is one of those things.
3/ Less chad and more things that actually matter:
My incomplete theory of interest-bearing cash is also available also as a blog post:
https://t.co/uiG0fZiVyu
It is 15 pages. Pick your slow poison or die fast by continue reading here.
4/ First time in the history we have an ability to create interest-bearing cash-like instruments.
Interest-bearing cash ticks up dollar (euro) balance real-time in your wallet.
Here is a demonstration using @aaveaave aDAI, based on @makerdao DAI, and @TrustWalletApp
5/ Interest-bearing cash is not like your bank's saving account. Your money in a bank is not yours, but bank's. There are some flaws in the current banking system causing a headache for Chief Financial Officers (CFOs)
Let's talk about how interest-bearing cash on a blockchain is going to revolutionise boring corporate treasury management that concerns every company is is a larger business than all crypto trading in the world.
Enter the thread
👇👇👇
2/ Blockchain community is often seen as toxic maxis and redditors who shill other their weekly favourite shitcoin in the hope of getting Lambo.
Sometimes we also do things that progress humanity towards the better future and interest-bearing cash is one of those things.
3/ Less chad and more things that actually matter:
My incomplete theory of interest-bearing cash is also available also as a blog post:
https://t.co/uiG0fZiVyu
It is 15 pages. Pick your slow poison or die fast by continue reading here.
4/ First time in the history we have an ability to create interest-bearing cash-like instruments.
Interest-bearing cash ticks up dollar (euro) balance real-time in your wallet.
Here is a demonstration using @aaveaave aDAI, based on @makerdao DAI, and @TrustWalletApp
5/ Interest-bearing cash is not like your bank's saving account. Your money in a bank is not yours, but bank's. There are some flaws in the current banking system causing a headache for Chief Financial Officers (CFOs)
Where should I start?
1) Is Blockfi profitable?
2) How much money does BlockFi have on its balance sheet?
3) Is the yield that BlockFi pays to its depositors earned or subsidized by billionaire investors?
4) Has BlockFi ever been profitable?
5) Are you planning to go public?
1) Is Blockfi profitable?
2) How much money does BlockFi have on its balance sheet?
3) Is the yield that BlockFi pays to its depositors earned or subsidized by billionaire investors?
4) Has BlockFi ever been profitable?
5) Are you planning to go public?
When is the interview published? @otisa502
— Jakob.Cel (@HedegaardJakob) February 14, 2021
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So friends here is the thread on the recommended pathway for new entrants in the stock market.
Here I will share what I believe are essentials for anybody who is interested in stock markets and the resources to learn them, its from my experience and by no means exhaustive..
First the very basic : The Dow theory, Everybody must have basic understanding of it and must learn to observe High Highs, Higher Lows, Lower Highs and Lowers lows on charts and their
Even those who are more inclined towards fundamental side can also benefit from Dow theory, as it can hint start & end of Bull/Bear runs thereby indication entry and exits.
Next basic is Wyckoff's Theory. It tells how accumulation and distribution happens with regularity and how the market actually
Dow theory is old but
Here I will share what I believe are essentials for anybody who is interested in stock markets and the resources to learn them, its from my experience and by no means exhaustive..
First the very basic : The Dow theory, Everybody must have basic understanding of it and must learn to observe High Highs, Higher Lows, Lower Highs and Lowers lows on charts and their
Even those who are more inclined towards fundamental side can also benefit from Dow theory, as it can hint start & end of Bull/Bear runs thereby indication entry and exits.
Next basic is Wyckoff's Theory. It tells how accumulation and distribution happens with regularity and how the market actually
Dow theory is old but
Old is Gold....
— Professor (@DillikiBiili) January 23, 2020
this Bharti Airtel chart is a true copy of the Wyckoff Pattern propounded in 1931....... pic.twitter.com/tQ1PNebq7d
So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
