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7881  Economy / Scam Accusations / Re: {Warning} Fake and Malicious Ledger Clone Website on: October 28, 2020, 07:08:21 AM
There was a report in the 'meta board' about such attack yesterday.

Ledger database leak --> Phishing
October 27, 2020, 07:47:04 PM
https://bitcointalk.org/index.php?topic=5284855.0
https://www.theblockcrypto.com/linked/82336/ledger-is-investigating-phishing-scam-that-targets-wallet-users

Well done, I can see you reporting many of these scams frequently, I believe many newbies will gain from these reports as I have gained a lot on this forum from phisihing reports. Any of such attack is avoidable by negleting such emails, even if the email is real (although it is fake), people should not click on it so far they are not the that authorize for it. People should only click on emails they authorized for in order to avoid such phishing attack.
7882  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: #EndSARs} on: October 27, 2020, 07:04:58 PM
Una wey country don tire wey get Nigerian passport check out dis countries u fit enter without Visa dem go dash u wife join.

https://bitcointalk.org/index.php?topic=5284822.msg55464862#msg55464862
Nice one Blackpussy, I suppose don't comment for your post, but I no like the 'Beginners and help board' wey you post ham, e feel possible say moderator go carry ham go 'off topic', e go make sense to carry ham for 'Politics and Society', because I no wan short of posts counts. I dey feel your presence for this forum, I believe in time you go rank up soon, well done.
7883  Bitcoin / Bitcoin Discussion / Bitcoin custodial services increasing on: October 27, 2020, 02:04:26 PM
Before was only the time of exchanges, although it is quite obvious that these exchanges are not secure and safe by design in which over ninety exchanges have been hacked, but custodial services are now more increasing, this will although really help bitcoin as it is possibly going mainstream, this will be achievable in this next decade we are about to enter. Some days ago when PayPal declared in offering bitcoin, ether and litecoin services on there platform, also now reading lately about banks declearing to offer crypto service.

Indian bank to offer crypto services across its 34 branches
For the first time, Indians will be able to take out a loan against cryptocurrencies.
https://cointelegraph.com/news/indian-bank-to-offer-crypto-services-across-its-34-branches

Singapore’s largest bank reportedly launching crypto trading and custody
Another global bank believes that digital assets are the future of the global economy.
https://cointelegraph.com/news/singapore-s-largest-commercial-bank-reportedly-launching-crypto-trading

I belive we should know crypto banks custodial services have begin, I see this as the beginning of bitcoin going mainstream, the time when bitcoin will be used as direct payment is imminent. Although, these custodial services has resulted to many users not knowing the actual means to deal with bitcoin in a noncustodail manner, but the custodial service are helping in making bitcoin to be more adopted globally.

But facts still remain fact, that the best way to privacy is noncustomotdial means, and knowing 'not you key not your bitcoin on blockchain', and this bitcoin adoption will help many noncustodial users to use bitcoin for buying and selling directly instead of still depending on fiats. But, it is like peoples ignorance will make them not to know what bitcoin actually is, that, it is a privacy coins which is compromised by custodial services.
7884  Bitcoin / Hardware wallets / Re: Hardware wallet question on: October 27, 2020, 12:40:14 PM
2. Is it possible for hardware wallet to remain totally offline, while using another wallet as watch-only wallet in a way the hardware wallet will be used offline only for signing through the means of QR code?

The coldcard wallet has a microsd slot, you can create a transaction on a PC, copy it to the microsd, put it in the coldcard and sign it.
You then put the card back in your PC and broadcast the signature. Takes a bit more time then using the USB cable but it does work.

For the ultra paranoid they also make an adapter that lets you run the coldcard from a 9V battery so you never have to plug it into anything.
Thanks for the above link, also your reply and others makes me also understand how coldcard could be used as airgapped also. I like this method also with the comment of o_e_l_e_o.

In terms of keeping a hardware wallet completely airgapped, yes, it is entirely possible by pairing with a wallet such as Electrum. Pair your hardware wallet with Electrum on an airgapped device, export the master public key to an internet enabled device to create a watch only wallet. Create transaction on watch only wallet, transfer to airgapped device via QR code or removable storage, connect hardware wallet to airgapped device to sign transaction, transfer back to watch only wallet, broadcast.
This is somehow complicated and complex, but the way you explained it is very understandable, I think this is one of the best way to be safe online, I want a way private key will stay offline forever which I believe should be a good reason of buying hardware wallet, and making me to feel secure and safe that no attacker can bypass my hardware wallet protection. I really like QR code to be involved in signing a transaction which makes it less complex and also no malware will be able to bypass it.
7885  Other / Beginners & Help / Re: Hit 1500 earned merits so far. on: October 27, 2020, 08:51:24 AM
Nice one Coolcryptovator, I believe this will also be an encouragement for new members, you have tried on this forum, you always involve yourself in a constructive threads and also contributing good, I have known you to be a very good and wanted member on this forum. Also, there are many of us that opened account this year and have ranked up, I can not believe I have attained over 500 merits in just less than 8 months, only what newbies requires is hard work, staying on this forum, studying the forum, researching and contributing.
7886  Bitcoin / Bitcoin Discussion / Re: What happens to my bitcoin if I die today? on: October 27, 2020, 07:49:52 AM
There are many different approaches to this, but I have come to a conclusion about Shamir's secret sharing which can be an effective way to this type of issue. Let us take for example, that you have 4 children, you can use the Shamir's secret sharing cryptographic algorithm to use the seed phrase to generate four secrets, the secret can be set to have 3 shares, which means 3 secrets is enough to reconstruct the seed phrase. You will have to let your 3 children know about this, educated them what bitcoin and cryptocurrencies generally is all about, then give them their own secrets. In case any thing happen to anyone, the three remaining can reconstruct the seed phrase. Also, for more ease of recovery, the shares can be set to 2 instead of three, I'm which only two secrets will be needed to reconstruct the seed phrase or private key.

But, also another approach which is the best is the use of multisig, in which M out of N users can be able to sign a transaction, so out of 3 children, you can set it to 2 children that will be able to sign the transaction, so any of the 2 children will be able to unlock the funds in case of anything. This is one of the best approach, but fathers do not want children to know their assets until they leave the world, but multisig can not offer such, your children will be able to know the assets on the multisig wallet unlike shamir's secret sharing when children will only be able to use the shares to reconstruct the seed phrase or private key, if they are loyal in the family.
7887  Bitcoin / Hardware wallets / Hardware wallet question on: October 27, 2020, 12:47:50 AM
Please, do not mind my question.

Normally, it has been revealed that it is still possible for hardware wallets to be vulnerable to malware, especially when connecting it through the means of USB to a computer, which means hardware wallet users should still be careful of malware. I will appreciate the following questions to be answered.

1. How about ledger nano x which support bluetooth, can it be affected by malware through bluetooth while performing online transaction?
2. Is it possible for hardware wallet to remain totally offline, while using another wallet as watch-only wallet in a way the hardware wallet will be used offline only for signing through the means of QR code?
7888  Bitcoin / Bitcoin Discussion / The number of Bitcoin whales hit an all-time high during the latest bull run on: October 26, 2020, 11:14:53 PM
On October 20, there were 2,178 Bitcoin addresses that held at least 1,000 BTC. By October 25, this number increased to 2,231. This indicates the number of Bitcoin (BTC) whales reaching a new all-time high recently.


https://studio.glassnode.com/metrics?a=BTC&m=addresses.Min1KCount&s=1562062216&u=1603670400&zoom=

Based on this data, we can surmise that the whales control at least 2.23 million Bitcoin — a significant figure equivalent to 12% of the current supply.


https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

According to data from BitcoinCharts, these whale addresses actually control a much higher 7,902,469 BTC, or 42% of the total supply. Although we know the number of whale addresses, we do not know how many individuals or entities control them. Multiple addresses could be controlled by a single entity, or likewise a single address could be controlled by multiple parties with a multi-signature wallet.


https://studio.glassnode.com/metrics?a=BTC&category=Lifespan&m=supply.HodlWaves&s=1481224923&u=1603670400&zoom=

https://www.google.com/amp/s/cointelegraph.com/news/the-number-of-bitcoin-whales-hit-an-all-time-high-during-the-latest-bull-run/amp
7889  Bitcoin / Bitcoin Discussion / Re: Bitcoin, the complete version of money on: October 26, 2020, 06:42:59 PM
Shamir’s secret sharing for bitcoin is just multisig wallets. I had assumed you meant splitting the private key into N pieces, the following was intended as a response to that:
I did not mean multisig, I later also included multisig also. Shamir's secret sharing can even be used to create secrets of any words, numbers or characters. So, its cryptographic algorithm has an advantage beyond only private keys or seed phrase. It is completely different from multisig. And only one private key or see phrase will be used in this case in a way that will generate the secrets user wants.

About your link above, I think it is an introduction to (2,3)-threshold multisignature, not yet implemented, but will also run off the blockchain, there were people reacting to it that the purpose of the protocol could be useless if BIP340-BIP342 are implemented when multisig transaction will be indistinguishable from normal single wallet payment in which multisig  transaction fees will be low as well like single payment wallets.

And congratulations on achieving 500 merit, by the way.
I sincerely appreciate, I see you really posting quality posts on this forum, you are good and I respect you, especially when you do give answers to technical questions I do not even have any idea about. You may no know, you have been one of my encouragement and following your unique ways of posting.
7890  Bitcoin / Bitcoin Discussion / Re: Abra CEO's portfolio is 50% Bitcoin as cash is 'becoming worthless' on: October 26, 2020, 06:05:38 PM
"Cash is becoming worthless" -  is a very strong statement! We are very little compared to the traditional finances in almost all parameters. Be it volume, usability, acceptance and so on...
If I use my country fiat as an example, it is even more depreciative, I remeber when I was small and also in history when my country gain independence, our legal gender was equals to pounds and higher in price than a dollar, later on, my country fiat becoming decreasing in value, and worth nothing to dollar now. This type of issue is common in many countries of the world, especially in Africa. That is why many Africans that knows about bitcoin and other cryptocurrencies like ether and litecoin are seen cryptocurrencies  as a safe haven. Instead of having their funds in their country depreciating fiats, they prefer bitcoin which is appreciative, but only convert bitcoin to fiat during when they want to spend.
7891  Bitcoin / Bitcoin Discussion / Abra CEO's portfolio is 50% Bitcoin as cash is 'becoming worthless' on: October 26, 2020, 12:40:51 PM
Few days ago created a topic about how bitcoin has been the complete version of money,
https://bitcointalk.org/index.php?topic=5284117.msg55442126#msg55442126

One of the reasons bitcoin is the complete version of money is because bitcoin is an appreciative asset, unlike fiats which are vulnerable to governmental manipulations which makes its value depreciating and makes fiats to be a depreciative assets by nature. Today, is a news on cointelegraph about the co-founder and CEO of major cryptocurrency company Abra who is clearly bullish on Bitcoin (BTC). In an Oct. 23 tweet, Bill Barhydt, CEO of peer-to-peer payments platform Abra, claimed that he has significantly increased his Bitcoin holdings a few weeks ago. According to the CEO, Bitcoin now accounts for 50% of his total investment portfolio.

The executive said that Bitcoin’s scarcity is one of the biggest reasons why the cryptocurrency is the best investment option. “As the minting of new Bitcoin approaches zero in the coming years, its value versus fiat will continue to skyrocket in my opinion,” Barhydt said. “Cash, or government-printed money also called fiat, is actually becoming worthless, while Bitcoin’s value remains constant. There will never be less fiat printed than is now. Cash is only going to get more and more worthless.”


Abra's CEO purportedly increased his holdings prior to Bitcoin touching new 2020 highs.
https://cointelegraph.com/news/abra-ceo-s-portfolio-is-50-bitcoin-as-cash-is-becoming-worthless
https://mobile.twitter.com/billbarhydt/status/1319690483367510016?s=20
7892  Other / Beginners & Help / Re: Even if you buy a hardware device from an authorised reseller, you need to check on: October 26, 2020, 11:07:47 AM
No comment again, the best to do by resellers (amazon) is to take back the hardware wallet only to the company they bought it from which is ledger company in this case. Normally, if truly this is the case, the victim supposed to file a law suit against Amazon and demand for the coin lost, so that it will be a lesson for Amazon. Normally, they do not have to think about this two times to return the hardware wallet for any malicious activity, because humans are wicked and malacious in nature.

But, let us check another way around, people are so malacious, it is possible returning the hardware wallet after such event could be the norm of Amazon (although, I am only saying) but one of the workers in Amazon may know about this malacious events, and be the one that took it back from the malicious person or even replace the good one to malacious one in order to resell/sell it to another person, so that the person can be a victim. With this, I think we should not trust any other party than the company selling the hardware wallet. The safest way will be to buy directly from hardware companies like ledger nano, trezor and the likes.
7893  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: #EndSARs} on: October 26, 2020, 08:21:21 AM
Una dey see how dem Russians padi dey give merit. No dull am, I 4 yan beta if I sabi talk make them no know, make una soji ara wa now. Not about me but your padi wey dey here.
You don talk sense, but this single thread na still wahala, normally merit go dey come small for this thread. But, if we don get our normal local board, things go make sense pass now, we go get opportunity to create topic, and more replies too go dey, na waiting we dey wish for na, if topics and replies dey good and worthy to be merited, we no go hesitate. Come see English/general boards, na there you feel post something wey good but no go see merit collect, na some merit source and few users wey dey loyal to that extent, and naa why some of us still dey rank up small, but most dey local board, so e no possible say I get enough merit, see my brother post something wey dey authentic and I no go merit ham, he no possible. But first, make we continue posting good, get more merit source and claim our local board, you will see progress among us. I con dey see 2021 down for now say the year na Naija progress for this forum. Together, we can do this. Making this forum active is one of the requisites wet dey essential before we can get local board.
7894  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: #EndSARs} on: October 26, 2020, 07:03:54 AM
To make we country Nigeria a better place for we all.. The things wey we need to do, my fellow brothers them don already talk am, and e no make sense make I come dey suggest wetin my brothers don suggests already, but the Question wey me won ask now be say.. How we won take do am?, like to cut cost of governance wey be one of the most important thing wey we must do if we Wan end bad government in Nigeria, how we go take do am to make all this government officials gree say they go cut their own salaries??
With the kind population wey Nigeria get, and with how poor the country come be, if we dey talk about people generally and wealth availability, with the kind monthly money wey those people wey dey top dey collect, Nigeria no fit develop, aside monthly allowance, them dey collect monthly salary wey many Nigerians no fit collect after hard labour for 30 years. But, e no easy say that feel change o, you think all those senate feel gree, I no think so.
7895  Bitcoin / Bitcoin Discussion / Re: Regulation possible? Regulation Inevitable? on: October 26, 2020, 04:53:03 AM
What I believe is that people that know about bitcoin very well and how it works will not be affected much, they can still have means of practicing noncustodial holding, having their private keys, using CoinJoin for making transactions very impossible to track, how about using mixers in a way transactions can not be tracked and so on. People will still be able to buy and sell through some non-kyc exchanges and platforms. But, the issue is that most people privacy will be compromised by government laws and regulations while most people do not even bother by the laws and willing to give kyc to the custodial services they keep bitcoin with, because of peoples ignorance, there is nothing that can be done, governments will compromise people's privacy while peoples ignorant nature will not let them know and thinking governments ate right about this.
7896  Bitcoin / Bitcoin Discussion / Re: Bitcoin, the complete version of money on: October 26, 2020, 04:36:52 AM
Saying that Bitcoin is well adopted is a bit too generous, considering that you can't just go outside and spend it, and you have to specifically look online for the closest places that accept Bitcoin, and then spend potentially a lot of time getting there. And even online it's hard to spend it, because big platforms like ebay or Steam don't accept it.
With a marketcap of over $200 billion, why the reason PayPal want to included bitcoin as ones of the money they are accepting for payment why using their platform? I think that answer the question.

In no way does Bitcoin solve the problem of theft. Not only it can be stolen physically, if you have a paper wallet, a seed phrase, a digital medium with an unencrypted  wallet file, it can also be stolen digitally via hacks, phishing, malware, etc. For people with poor security practices, which is the majority of the population, Bitcoin theft is a far bigger threat than some bank theft.
That is why people should be security concerned, if someone is security concerned, it will be difficult or impossible for hackers to penetrate, there are many ways to avoid these, like generating your private key offline and also having strong security against hackers, and also learning how to avoid malware especially while using hot walletd, and well other wallets. Practically, you are right, that is why people need to be conscious digitally, most people are only conscious physically.

One important characteristics of money is that it is generally accepted by every one in the community or society but bitcoin is not yet known by all the people. Bitcoin is still struggling to go to people's accepting it, it is still very volatile and money isn't. I think that we can look bitcoin from area that it is digital currency purpose.
You are wrong, bitcoin is accpeted by people, that is why its realized cap is increasing, which society does not accept bitcoin when it is even used in countries that ban it, while most countries legalized it. Is it volatility that also matters or depression? Fiats are just depreciative assets while bitcoin is appreciative in nature. Bitcoin is a successful currency already.
7897  Bitcoin / Bitcoin Discussion / Re: Bitcoin, the complete version of money on: October 25, 2020, 01:18:28 PM
I've never heard about this "Shamir's secret" and I think that all the division and conversion of the seed phrase into different parts sounds a little bit paranoid.
Then, better do not use it, if you use what can get your seed phrase or priivaye key not to be remembered will not be good at all, using the type of security that will be effective enough to make your seed phrase accessible to you is better. Sharmir's secret sharing make use of shares and secrets, the secrets are what will be held by you, it can be n secrets, while the number of secrets required to reconstruct the secrets are the shares, it has its own application. For example, you have 4 children, you generate a bitcoin seedphrase offline, and store high amount of bitcoin on the wallet, you may not want to give the seed phrase to your children until certain time, then you can use shamir's secret sharing to create 5 secrets, having 3 shares, giving 4 secrets to your 4 children, and each of them will only have 1 secret given. If the father wants the seed phrase to be revealed, any of the 3 children can reconstruct the seed phrase, or the father having the fifth secret and any of the two children can reconstruct the seed phrase. Only 3 secret which are the shares are able to reconstruct the whole seed phrase.

Anyways,It seems to me,that your text is probably some article,which is copy pasted from somewhere.Could you at least mention the author/source?
I hope you can see me not as a newbie, and I know the rules of the forum, this topic is completely from my head, and according to what I have been learning since some months I know about bitcoin and other cryptocurrencies. See reference(s) where it should be included. Do not take me as a newbie.

The first successful form of decentralized money were precious metals,before the time,when the kings and lords monopolized mining and coin production.There were many forms of decentralized money in the prehistoric times-for example some goods like salt were used as money.
Bitcoin is the first successful form of decentralized digital money.
Thanks for the correction, you are right about that, I have corrected it.
7898  Local / Nigeria (Naija) / Re: Nigerian Bitcointalk Community Hangout. {Current topic: #EndSARs} on: October 25, 2020, 12:31:03 PM
We now get greater problems to solve. Politics has taken over everything in the system and one will be scared of the deteriorating state of the system by the government. The diversity remains challenging and the northern part of the country dont see it the way we see it, they consider the agitation as a treason and justify the ungodly massacre at the Tollgate. The southerners know better that their leaders dont care about them at all, the revelation of the hidden palliative and neglect to the order of the killing speak more
You have commented well, there was a time we are practicing regional government before in Nigeria, but one of the military rulers from Northern Nigeria thought otherwise, because of selfish reasons and self-centeredness discontinued the regional governmental policies and centered it to federal level. Possibly, Nigeria might not have been like this if this was not changed, politics is just over everything and everywhere, no leader is loyal to his country but loyal to their families and filled with sense of nepotism. I believe we can see how citizens are like nothing before the leaders, see our palliative rice, indomie and other foods, they just kept it without distributing it to the citizens, if not because of EndSARS, this will remain hidden, see thousands of bags of food stored without them reaching citizens for consumption, this is uncalled for.
7899  Bitcoin / Bitcoin Discussion / Re: Which is more important bitcoin or fiat? on: October 25, 2020, 12:07:30 PM
I created an article day before yesterday how bitcoin has fulfilled what fiats are unable to fulfill, you can check the article below about how fiats are subjected to governmental manipulations in a way fiats are being well devalued and depreciating over time. Unlike bitcoin which is not a depreciative asset like fiats, bitcoin is a deflationary currency and I prefer it over fiat.


https://www.shutterstock.com/image-photo/bitcoin-laptop-wallet-virtual-currency-gold-1043355598

Introduction
Bitcoin, being the first and the most successful cryptocurrency, has being well adopted in many countries of the world which has reflected through its increasing marketcap and price that also proved it to be a well known deflationary currency. Bitcoin has been increasingly and successfully adopted and proven to not be a ponzi or regulated in any way by any centralized authority, everything about bitcoin is open source and available to the public to the extent bitcoin community are even regarded as the founder of bitcoin, Satoshi Nakamoto. Although, officially, Satoshi Nakamoto is the creator of bitcoin in 2009.

What money is
Many people do not know what money is, like I ones thought money is the first which are acceptable as a means of payment in individual countries, but this is a misconception. Money is anything that has intrinsic value and that can be spent. Good examples of money are bitcoin, other cryptocurrencies  (altcoins), gold and fiats. Among them all, is a money called bitcoin, created in 2009 and has now being greatly accepted and adopted in the world due to its decentralized nature.

Money vulnerable to theft and depreciation until the onset of bitcoin
Before the onset of bitcoin, all types of money were either vulnerable to theft or depreciation, there was a time in the past when there was money but no bank, people will still think of a way to protect their money, but at the time, money were vulnerable to theft. So, later comes bank, to help individual to keep their money, fiats was adopted and was accepted by all countries of the world, and money centralized regulation evolved. Now, fiats are manipulated, the manipulations are from governments because fiats are centrally regulated and due to this, money owned by individuals are manipulated and making fiats to be a depreciative asset. 
Money like gold that are physical are more vulnerable to theft while fiats kept in banks are more vulnerable to governmental manipulations. All these do not make money characteristics to be completely fulfilled until the onset of bitcoin that created indirect bridge known as blockchain between fiats and cryptocurrencies. Now, people can hold bitcoin in a way to do away with theft and central (governmental) manipulations.

Fiat inflation vulnerability
Although, the central bodies (governments) may not be blamed at times for the reason they are manipulating the fiats, especially while devaluating it during inflation, and can be blamed when their is excess fiat creation and introduced into circulation. Fiats are manipulated/devalued for the benefit of the country but making citizens of the country to lose and make their worth depreciating. That is why fiats needs alternative, a kind of money that will be easy to spend like fiats and yet not vulnerable to governmental manipulations, bitcoin created the bridge to that part.

There are many strong fiats, while some are weak and more volatile, a good example of strong fiat currency is dollar, and can be used as a good example of bitcoin-to-fiat price trend comparison. For the past decade, bitcoin hodlers have more increase of 20% in bitcoin price not actually as a result of bitcoin instrinsic price increase, but due to dollar that is not immune to devaluation and gradaully depreciating over the past years.

This was taken when bitcoin was at a price slightly above $10800 in accordance to a crypto news.
A decade ago bitcoin price gain
Limited supply + marketcap = 80% in bitcoin price
USD deprecuation = 20%
(Limited supply + marketcap) + USD deprecuation = 100% butcoin price trend.


https://cointelegraph.com/news/fiat-inflation-has-cost-bitcoin-hodlers-20-over-the-past-decade/amp

If you check some other countries like African, where fiats are more vulnerable to depreciation, these would be the worst cases. This is one of the major reasons the need for bitcoin especially. Normally, fiats are depreciating assets by design, while physical money can still be vulnerable to theft, but with expert knowledge about bitcoin, bitcoin is not vulnerable to theft, and also not vulnerable to governmental regulations. Bitcoin has limited supply of 21 million, and this makes it a deflationary currency, the more people adopt it, the more people make use of it and the more it is getting stronger, and also increasing in marketcap and price. Although, the price of bitcoin may seem decreasing at times, but later, the price will increase unlike fiats that are constantly depreciating.

Centralized (governmental) bodies compromising bitcoin and crypto in general.
Nowadays, governments have now being trying to make bitcoin so centralized, many people are now using bitcoin do not even know what private key or seed phrase is and depending on third party while not knowing the third party are actually third party due to how fiats are working, they thought bitcoin and other crypto works that way, therefore not even knowing about privacy. These are all wrong because bitcoin is a privacy currency, people can hold it without depending on any third party which is the best way to go while dealing with bitcoin with the current settings, some people even knowing about this but because of trading flexibility, they still keep their bitcoin and other crypto using centralized party services, which makes them not to be the owner of the coin on blockchian while the third party are not safe and secure.

People do not need to keep bitcoin with third party, you can keep it yourself without anyone knowing, all you need to do it to make use of noncustodial wallets, generate your seed phrase and/or private key. Storing the seedphrase and/or the private key in a safe place that is safe from thieves and damages. If the seed phrase and/or private key is compromised, that means all your funds are lost.

Some approaches towards seed phrase/private keys protection
Bitcoin is digitally created, users should be digitally conscious, while privacy, security and safety should be maintained. Malicious actors are also trying their best to steal bitcoin from people having it. But, there are many approches to avoid hackers from stealing bitcoin, few of this is discussed below.

1. Avoiding custodial services
There are different custodial services, although they have helped in bitcoin adoption, but still must be avoided, they make use of hot wallets to hold customers assets, while hot wallets are prone to hackers activities, and they are targeted by hackers because the custodial party keeps thousands to millions of customers assets. Most custodial services are often hacked and many have resulted to lost of users funds and never recovered.

2. Avoid using hot wallets for high savings
Although, hot wallet can be good for saving low amount of bitcoin, while experienced users can still avoid hackers by avoiding malware on the device used, but for saving high amount of bitcoin, cold wallets are best, and for ease of use and for frequent transactions, hardware wallet is good as a type of cold wallet.

3. Use of Shamir's secret sharing to protect seedphrase/private key
Seedphrase or any other sensitive information like private key can be protected by the use of shamir's secret sharing, in a way the the seed phrase is converted into secrets, and the secrets are divided into parts for high protection.

4. The use of multisignature wallet
Multisig wallets are wallets that can be regarded as M of N wallet, in which the wallet can be generated for N users having their own private keys while M users among the N users will be able to sign transactions. This makes it difficult for hackers to penetrate, even if one private key is compromised. It can also help in a way another wallet can be created and the bitcoin in the previous wallet is sent to new wallet if any of the M or N users lost his/her private key, or if anything like malicious activity is suspected.

There are still many other approaches, like having more than one wallet. But  the approaches to be used should not be too tedious in a way wallet owner will not be able to recover back his/her wallet during wallet lost.

Conclusion
Bitcoin is money, the first successful decentralized currency, which was created as an alternative to centralized fiats and also altenative to money that are vulnerable to physical thefts like thereby fulfilling what early days money can not fulfill.

But, that said, we should also know how fiat is the currency we spend often, normally, I keep bitcoin, but if I want to spend, I convert it to fiat and use it for spending purpose, fiat is only useful for me during spending. I do not have more than $10 of fiat in bank but I have more bitcoin which is the best way for me.
7900  Alternate cryptocurrencies / Altcoin Discussion / Re: [INFOGRAPHICS] Decentralized Finance Technology on: October 25, 2020, 11:35:48 AM
Have you checked this article by OcTradism?
Overview on DeFi.
https://bitcointalk.org/index.php?topic=5256820.0

Also you can check this articles by Ratimov
Ratimov's Forum Guides, Tutorials & Lists
https://bitcointalk.org/index.php?topic=5277049.0
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