Basic Bitcoin skills

[Sonofgeneral]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

[1713518722]

1713518722

[1713518722]

1713518722

[1713518722]

1713518722

[1713518722]

1713518722

[1713518722]

1713518722

[fiulpro]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

Technical skills ?
I am really not sure if that's needed for holding.
If you do know your basics you are good to go and you learn along the way, it's not a hard task to just hold but the hard task is to be *patient*. I would rather give more credit to the mental skills and the decision making.
-You have to give prime importance to *security*, cyber crimes are more pronounced in this industry for sure. Also looking for a good hardware wallet will be the first thing that you should do. Research, Invest in a good one and do not keep such huge amount of Bitcoins in any Online/offline wallet.
Best of luck with your journey.
~

[Kong Hey Pakboy]

First of all welcome to the forum. If you want to trade, probably patience is thee best skill that you want to have because you're going to experience times when bitcoin isn't doing good and it might cause you to panic and sell your bitcoins when you can just wait it out. Also, I've learned that if you wait long enough, the bitcoin that you currently have will yield you profits that you didn't expect yourself and that any down in the prices in the market are just temporary.

[NeuroticFish]

What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

If you have not much of computer skills and want to buy/hold bigger amount of coins, I'd suggest you start with buying a hardware wallet, which will help you generate safely (new) seed for your address(es).
The only next step is to write that seed onto one or more pieces of paper and keep them safely offline (for the case the hardware wallet malfunctions). And that's basically all imho.
The coins you bought you'll have to withdraw to one of the addresses you own (since only then they're really your), but if you have difficulties you can always ask on this forum.

[Tessnik]

Let me start by welcoming you to this forum and am glad to hear that you have gotten answers to some of your questions on this forum, back to your primary question of technicality in bitcoin, I don’t think you are going to need any technical knowledge since your focus is to buy and hold bitcoin for long-term basis. Just like others have suggested, all you need is to buy a hardware wallet where you store your bitcoin with top security and you own your private key. Because, as the saying goes, your private keys are your only security and ownership of the account.

[Upgrade00]

What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

Not quite technical skills, but you should;
• Be privacy conscious and learn how to use a P2P platform for purchase or buy through OTC trades,
• Understand the basics of how a wallet works, setting it up, how to send and generate an address, lock an input etc,
• How to use an airgapped device, if you do not own a hardware wallet,
• Possible how to mix inputs to blur the trail of a transaction,
• How to browse safely to avoid falling for scam attempts.
• Also, how to safely store back up seed phrases for a long period of time.

[rhomelmabini]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

Well, it's a good thing this was the site you've been bumped into as it was the oldest and you can get lot of information here. I don't think you need some technical skills if you want to hold some Bitcoin, at least have the fundamental knowledge on how to setup a wallet and how to improve the security out of it. If you are in it for the long term and you are planning for large amount then having a hardware wouldn't hurt your budget and it's more secured, it's just more or less a $100.

[Kemarit]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

I'm not sure what you mean by technical skills, but at least some basic knowledge of computers. Then you need to understand how to transfer bitcoin or withdraw, or what is your bitcoin address, private keys and then storage, which is usually a hardware wallet in case you want to buy large amount. Usually a hardware wallet is a good way to store your bitcoin specially if you are planning to just hold on it for a long time.

[aoluain]

You do need some technical skills, not a lot though.

All the responses above are relevant so I'll throw a few more pointers in

When buying a hardware wallet like Trezor or Ledger make sure to buy direct, dont try and
make a saving from a reseller who could have compromised the security.

https://trezor.io

https://www.ledger.com

Make sure when sending Bitcoin from wallet to wallet that you are using Bitcoin addresses,
if you send to a non Bitcoin wallet you wont receive the amount and you wont get refunded.

Make sure to save and store you wallet keys/passphrase/password safely and securely

[ultrloa]

I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

What you need to do is to learn first the risk when you buy bitcoin in certain time since there are instance that we are prone for market crash, hacking or anything danger which can cause our bitcoin lose on our hands so invest on knowledge first before buying a huge sum of bitcoins. Also I know there are few people use exchanges as their placed to hold their bitcoins and you shouldn't do this since there are instance that exchange got hack so its so risky if you decide to use this as your holding destination so better invest on hardware wallets as suggested for better security.

[Hippocrypto]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

You could learn and develop skills over holding bitcoin within a specific period of time, it can't be taken to a short timeline but we need to have patience you go through the learning process. Holding long term can be struggling specially when money is badly needed in times of emergency. Contingency plans should be a part of your long term goals so you'll able to cope up difficulties.

[hd49728]

https://trezor.io

https://www.ledger.com

If you can not buy hardware wallets, you can use Electrum or Wasabi wallet
Recommended wallets

Make sure when sending Bitcoin from wallet to wallet that you are using Bitcoin addresses,
if you send to a non Bitcoin wallet you wont receive the amount and you wont get refunded.

Exchanges won't support to recover your coins if you send it to address of altcoin, not Bitcoin. If they give you support to recover it, they charge you expensive support fee.

Make sure to save and store you wallet keys/passphrase/password safely and securely

Save them off line

[BlackHatCoiner]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward

Welcome to bitcointalk! Whichever technical question you have for the Bitcoin network in general, you may ask it in the Development & Technical discussion board or if it's specifically for Bitcoin Core in the Bitcoin Technical Support board.

What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

They don't have to learn the technical background, but just how it works theoretically. Learnmeabitcoin.com gives a great brief of how it works in theory and I'd surely recommend it if you're a newbie for an even deeper source of how it works practically. (technical stuff etc)

If you hurry on buying Bitcoin, don't trust your technical skills and believe that you may make a mistake during the creation of your own wallet, you can just buy a hardware wallet instead. Otherwise, there are solutions (softwares) that will make you feel more comfortable with Bitcoin. I suggest you downloading Electrum which is a non-custodial wallet and trying understand by yourself how things work in Bitcoin!

[Welsh]

If your going to become your own bank, and will be responsible for your money, without any third party stepping in to save you if you make a mistake. Your probably going to want to learn about securing your Bitcoin, but also having good security practices in general. Depending on your usage, you might want to learn general computer security if you intend on running a hot wallet or just learning about common Bitcoin security if you intend on running your wallet offline.

If you are running a hot wallet, then I suggest securing your system from the bottom right to the top. Think securing your browser, changing your browsing habits so that you aren't putting your system at increased risk. For example, don't download software which you don't trust the vendor that is distributing it. Physically isolate or virtually compartmentalise your system if possible. There's no real one place for learning this sort of stuff so you'll have to be prepared to search it up on your own. Ubuntu, or Linux tutorials are generally pretty good at teaching you how a computer functions, and the things that you can do to enhance the security of your computer.

For example, Linux teaches you about chmod; basically access, and writing permissions which many Windows users don't even think about. Then, you could potentially take some courses in Cisco, and CompTia if you really want to brush up on your skills. Though, most of these skills can be learned from free resources.

[ChiBitCTy]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

I think what you mean is that you're looking for some basic info about the best practices to holding bitcoin.  To start off I would suggest buying your bitcoin from whatever the most trustworthy exchange that charges the least, and that often tends to be the Kraken exchange.  Then proper storage is key.  Being new to bitcoin it would probably make the most sense to hold your bitcoin on a hardware wallet such as Coinkite or Trezor. Make sure you buy a hardware wallet directly from the manufacturer ONLY!

[Qirtov]

Emotional control is very important for you to master. It's useless the capital you spend is big but emotional problems can't be restrained, it's useless. So it's good to control your emotions when dealing with the market. Strategy in trading is also important so that you are not confused and swayed by the market. The strategy must also be applied consistently in order to minimize changing strategies that can make you sway.

[ampu]

Bitcoins are made for trading and holding years so you just need to know how to send, receive or store your Bitcoins securely.
If you want to trade Bitcoin learn about the history of Bitcoin's value chart and how to trade Bitcoin for profit. This is an advanced form of knowledge so you will need a lot of time to master them.

[Ucy]

In my opinion, some important skills would be to know how to safely access your keys to your coins/assets from the Blockchain wallet on a secured device, and safely store the keys.    I actually prefer not to have single key for all of my coins/money just incase it's found by a thief or something and the whole coins is stolen using the single keys. You could split the money into multiple parts and have different keys for them which you can engraved on a multiple object like metals and buried/stored them somewhere you can easily remember and access when you need to.

[adzino]

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

You don't need much technical skills to use and hold bitcoins. You don't need to know how the technical stuffs of bitcoin or the blockchain network at all. But it is going to be better if you try to learn about it. I mean not learn, but read about it and know how it works internally. I am sure you will find it interesting and it will give you a purpose and a reason to invest more. After all unlike other people who just invest because they heard it gives you profit, you will know how good bitcoin is and why it is actually valuable, Right?
Like I said, you don't need in depth knowledge. You just need to know the basics and most importantly how to keep your coins safe. Good luck!

[zanezane]

I don't know about you, what's your interest, if it's the inner workings of bitcoin then the technical skill that you want to have should be coding and networking skills. They can help you understand the movements of the network and you can understand how the code of bitcoin works. Probably some willingness to learn could help too because there's a lot to learn in this platform and bitcoin and cryptocurrency itself.