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Author Topic: Who is most reliable person?  (Read 623 times)
Mpamaegbu
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April 03, 2023, 11:05:33 AM
 #81

But to some point because of love, trust and spouse lips, we give out our details freely for this person to access.
If you continue to think that way, losing yourself so to say because of the entrapment of female anatomy, then you're more likely to get into trouble than out of it.

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Better still between someone; who introduced and taught you about bitcoin...
This part captures an experience I had in 2021. Let me share that with you. I was teaching someone about Bitcoin and trading. When I got to wallet security and safety, I drummed it into my student NEVER to reveal his passphrase or password to anyone; not even to me. I included myself in it. Lecture continued for the rest of that day.

Two days later, while dwelling on a different topic, I asked him to send me his passphrase that I wanted to check for something. He refused, reminding me of what I told him. I pushed further and told him to remember I was different since I was the one teaching him. That broke his defense. He released his passphrase to me. BTW, it was an unused empty wallet for practice. I laughed him to scorn and reminded him how he should never give it out. He felt sorry for himself. I believe my shared experience answers that part of your question now.

The only time one can give that out should be in one's will.

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Luzin
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April 03, 2023, 11:56:56 AM
 #82

He released his passphrase to me. BTW, it was an unused empty wallet for practice. I laughed him to scorn and reminded him how he should never give it out. He felt sorry for himself. I believe my shared experience answers that part of your question now.


Yes, it seems that he believes in you. He believes you are a good person for successfully teaching him. But from there he's also smart because he gives you a blank wallet password and password. It indicates that you have taught him well. He lives what you exemplify.
Even myself wouldn't give prifatkeys, passwords to people who have taught me, that's crazy. Even my family hasn't figured out what my wallet password is. But I have written in some notes. This is because I hope my wife or child finds out if one day I die. Because I work for my son and wife, so I will give my wife the password sometime when the time comes.

R


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Mpamaegbu
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April 03, 2023, 12:37:11 PM
 #83

~snipped~
Yes, it seems that he believes in you. He believes you are a good person for successfully teaching him.
Yes, he did believe in me. However, I was teaching him at the time the principle of "never you trust anyone in this crypto industry". So, he failed the test.

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But from there he's also smart because he gives you a blank wallet password and password. It indicates that you have taught him well.
Not really that. It was a wallet I tutored him to open. I knew it was blank. Even after he unwittingly gave me his passphrase, I told him to discard that wallet and open a new one.

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Even myself wouldn't give prifatkeys, passwords to people who have taught me, that's crazy.
That's the spirit!

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But I have written in some notes. This is because I hope my wife or child finds out if one day I die.
Yeah, that should be the attitude. That's in case who dies intestate.

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MIner1448
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April 03, 2023, 02:52:34 PM
 #84

Ownership of a bitcoin wallet implies the possession of the corresponding private keys, which are essential for accessing a bitcoin address and performing transactions. It is not recommended to show your private key or seed phrase to anyone, as this can lead to the loss or theft of your bitcoins.
However, if you really want to share your bitcoins with your loved ones, there are ways to do so without having to hand over private keys. For example, you can create a new address and send bitcoins to it, and then share this address with the people you need.
Awaklara
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April 03, 2023, 03:01:03 PM
 #85

Ownership of a bitcoin wallet implies the possession of the corresponding private keys, which are essential for accessing a bitcoin address and performing transactions. It is not recommended to show your private key or seed phrase to anyone, as this can lead to the loss or theft of your bitcoins.
However, if you really want to share your bitcoins with your loved ones, there are ways to do so without having to hand over private keys. For example, you can create a new address and send bitcoins to it, and then share this address with the people you need.
The seed wallet that we keep is very personal. even people who teach us to make wallets also will not ask to be able to know our seeds.
sharing it with others, even with our loved ones is also not good. especially for those who already know how Bitcoin wallets and trading work. it's too risky. because you know that for every crime that occurs, the people closest to you are the first to be most suspected.
you gave a pretty good suggestion, it's better to make a new wallet for them than to share the seeds of the wallet we have.

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doomloop
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April 03, 2023, 07:25:41 PM
 #86

I don't believe it's a good idea to give your private keys or bitcoin keys to someone close to you while you are still healthy and young; doing so is a risky and easy way to make your life miserable because your bitcoin will be gone as soon as you do so to your son, wife, or any other person you truly trust, because these days, close friends and family members have the power to hurt you more than anyone else, and when it comes to wealth, it's very risky to do so, in my view, while you are still healthy, don't give your relatives access to your bitcoin private keys.
I agree with you on that, I think it is not a very bright idea to give access to your funds to someone no matter how much you trust them. If you ask me, there is only one person in the whole wide world that I trust more than myself and that is my mother, and she knows nothing about technology and everything, especially Bitcoin, and I think that is the case with most of us.

So basically, it is better if we don't give anyone access, but we should write a will and describe in it where we have kept the private keys, etc. So that when the will is read after we are dead, the funds are not wasted and accessed.

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