Bitcoin increased my mental awareness

[Vampobit]

...All day long!

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

...And I keep repeating all the steps, again and again...

...All day long!

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[franky1]

yes bitcoin makes you think more about your own wealth security

the advice of bitcoin also applies to fiat. which many do not practice as they were never taught it at school

never keep all your fiat wealth on the debit/account card in your pants pocket you go out in public with(wallet with internet access).. it can be pocket pinched, cloned, skimmed easily in public(hacked).

put daily-weekly spend amounts on that pants pocket wallet, but be cautious about who or what you let into your personal space(device)

put monthly-yearly salary into a savings /store that is not accessible to random public(offline device)

and put your main savings for retirement into a more secure store

whereby. like bank card/account access. they like to see (backups) of proof of ownership. so keep your IDs safe
banks like to see photoID, a bill or two with address (so keep 2-3 copies of wallet backups) in case you cant find one proof of ownership

[stomachgrowls]

...And I keep repeating all the steps, again and again...

...All day long!

Just make it sure that it wouldnt be exposed on someones attention or simply they cant really be able to read out with those keys of yours and this what makes you confident if you do know that it is really kept on a

safe place.If you are making some active trades which you do need to pull off some of those funds or coins into your coldwallet then it would be better if you do allocate a portion or percentage on which

you would really be making up trades or wallet that is exposed online and tend to make out a wallet which is really that just cant be touched up or simply the cold ones.
You would really be that having a good sleep on that way. 

[Scripture]

Dealing with the cryptomarket can be more stressful if you can't handle your emotion that much, this is very volatile market and anything can happen so as an investors or trader, you should not fully rely on this market and better to have other source outside this market.

There's a lot of incidence already about the depression and anxiety with regards to their investments on Bitcoin, I even know someone who suffer mentally because of his losses. Being responsible can be a big help, invest only what you can afford to lose and never use your life savings for the sake of Bitcoin investment, that is not safe at all.

[BitcoinPanther]

...All day long!

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

...And I keep repeating all the steps, again and again...

...All day long!

Isn't this tiring? Repeating and thinking stuff all day long?  and wouldn't this be a waste of time instead of doing something beneficial you are stuck wondering if your method of securing your bitcoin is right?  Why do it by yourself, you can always find instruction that can safely secure your wallet in one go.  If you happen to do it correctly, it won't produce any new problem unless you have problem trusting proven instructions and has tendency to doubt everything you do, I think yo better consult a psychiatrist/psychologist.

[AmoreJaz]

Isn't this tiring? Repeating and thinking stuff all day long?  and wouldn't this be a waste of time instead of doing something beneficial you are stuck wondering if your method of securing your bitcoin is right?  Why do it by yourself, you can always find instruction that can safely secure your wallet in one go.  If you happen to do it correctly, it won't produce any new problem unless you have problem trusting proven instructions and has tendency to doubt everything you do, I think yo better consult a psychiatrist/psychologist.

indeed! that would be stressful. if you feel you have done it correctly already, then stop. you can only do so much to protect your wallet. just make sure you are not pressing some unknown links or installing apps over the net that will make you vulnerable to attacks. but hey, with so many things happening around us, it is understandable that some are paranoid with the possibilities of getting screwed up.

[Stella Mese]

indeed we have to be careful in storing our assets in our wallets, but in my opinion, we shouldn't get stressed thinking about it, and also sometimes being too careful too, will cause depression so that the mind becomes stressed, in my opinion it's normal. because investing in bitcoin and crypto is definitely risky, and most importantly. don't put all of our wealth in bitcoin and crypto, because we won't know in the future.

[Hispo]

I believe Bitcoin is not supposed to specifically increase our mental awareness, but rather our financial, liberty and privacy awareness.
Sincerely, OP. I get you feel enthusiasm for Bitcoin and this interesting ecosystem, but if you feel this market is making you feel too stressed or hyperactive, I would kindly recommend you to reduce your exposition to Bitcoin or get some help to deal with any negative effect this "mental awareness" is having on you.

I am not trying to be rude or anything, it is just that one cannot properly partake in this market and enjoy the ride if health is compromised somehow.

Edit: Also, please avoid gambling, just in case.

[Iranus]

indeed we have to be careful in storing our assets in our wallets, but in my opinion, we shouldn't get stressed thinking about it, and also sometimes being too careful too, will cause depression so that the mind becomes stressed, in my opinion it's normal. because investing in bitcoin and crypto is definitely risky, and most importantly. don't put all of our wealth in bitcoin and crypto, because we won't know in the future.

How can we earn more bitcoins every day? That is the real problem that we should think about every day. Storing the private key is not a problem or too hard, the OP is making it hard on himself and spending too much time on it. Let's keep it like other significant assets, I'm sure everyone has secrets and important assets, and we always know how to keep them safe. Bitcoin too, it's not hard to store, and let's not stress about it.

[mk4]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

Take note that this isn't necessarily the best strategy. While you avoid losing all your coins in one go, it increases the chances of you losing your funds partially.

[Plaguedeath]

Huh? If Bitcoin make you think all day long, it mean Bitcoin is destroying your life since your entire day activities wouldn't good enough.

I would sell all of my coins if I never feel safe with Bitcoin and I didn't sleep well, the most important thing you need in this world is health, not money.

As long as I hold my coins on hardware wallet and already spread my backup in many places, I feel almost 100% safe since there's no way for anyone can hack my coins.

Holding in centralized exchange doesn't safe, although it's more easier to access your coins, but when the exchange got hacked, there's no way to prevent it happen.

[boyptc]

It's good and bad to think of that you've repeating steps again and again. The good thing about it is you're always thinking of your coins safety so you always remember on what you must do.

The bad thing is that, someone may get exhausted by repetitive actions. But I get to see why your topic is like that, it raises your attention on how you must act and how to keep your bitcoins properly and safely.

Spreading your bitcoin in different wallets is good but if you're aware on how to keep your coins properly, owning a hardware wallet and it all there could be enough for you.

[Poker Player]

Well, we already have another thread praising bitcoin or bitcointalk, which if I were wrongheaded I would say is an attempt at merit fishing.

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

Take note that this isn't necessarily the best strategy. While you avoid losing all your coins in one go, it increases the chances of you losing your funds partially.

What do you think it is worse? It's clear to me.

On the other hand, I only see sense in it if you have enough liquidity.  If you have 0.05 Bitcoin I think it's bullshit, and even more if you are going to have it in HW, which is how you should, because you are going to spend 20-30% of your holdings in custody.

Then you would have to take into account other things, for example, you will have physically remote places to hide them, right? I wouldn't see the point of having your holdings distributed in 3 wallets but hidden in the same house, even in 3 different places, because you would have a high risk of being robbed with a 5 wrench attack.

[mk4]

What do you think it is worse? It's clear to me.

On the other hand, I only see sense in it if you have enough liquidity.  If you have 0.05 Bitcoin I think it's bullshit, and even more if you are going to have it in HW, which is how you should, because you are going to spend 20-30% of your holdings in custody.

Then you would have to take into account other things, for example, you will have physically remote places to hide them, right? I wouldn't see the point of having your holdings distributed in 3 wallets but hidden in the same house, even in 3 different places, because you would have a high risk of being robbed with a 5 wrench attack.

I don't necessarily think it's worse, it's just not 'better'. Personally, I'd slightly advocate more towards Shamir's secret sharing scheme instead.

But yea, this is one of those things that's mostly going to be subjective.

[8rch7]

In any investment, mentality is the most important thing, we must prepare mentally of steel so that we are not easily affected emotionally when investing or trading, considering that something that is affected emotionally will not last long, we don't even need to worry if we already have the knowledge to do so. jump into the world of cryptocurrency, continue to invest or trade bitcoin but we should never leave other investments,

[headingnorth]

The learning curve is always stressful and tough at first for any activity that is worth learning.
But as time goes by and you gain more experience doing it, it becomes more easy.

Imagine how tough it is for the process of learning to be a pilot, or a doctor, a firefighter, going through boot camp and basic training in the army. Almost anything in life there is a learning curve. But after you go through the hard training, as you absorb all the knowledge of what you learned and gaining more experience it starts to become second nature and eventually you can do it like a pro almost without thinking.

[davis196]

Just stay poor. This way you won't be thinking 24/7 about where to store your wealth and how to protect it. I'm joking.
Bitcoin isn't as easy as storing fiat money in the bank. That's why Bitcoin is fascinating. We have to choose the hard path in life, because the easy path is the way to hell. Putting all your trust and money in a centralized entity seems like a dumb thing to do, but in reality, this is the norm.
Overthinking too much about small and insignificant details is a sign of insecurity(or maybe obsessing compulsive disorder). I kinda have OCD, when it comes to money. I'm too afraid to lose the money in my pocket, that's why I check them way too often.
If I had 10 cold wallets, I would check them every day to make sure that the BTC aren't missing.

[pooya87]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

The only time I see using more than one wallet beneficial is if the other wallets serve different purposes. For example you could split your funds into "long term storage", "day to day spending", "trading". Each one needs a different type of wallet, for example the long term storage needs a solid cold storage while day to day spending can be done using a mobile wallet and for trading a hot wallet and the custodial wallet exchange accounts could be used. Obviously backup of the cold storage is the most important one that needs extra care.

[xSkylarx]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

This method really needs effort and if you can do it then it is good as other said that don't put your eggs in one  basket which is true that is why putting it to other wallet or if you can diverse this then it is good. I know that this is best method but i am not practicing it meaning i just very cautious in a very steps. Hacker can easily hack you but if you are aware you can prevent it

[Aanuoluwatofunmi]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

The process is straight forward and simple, the security to your asset lies in your capacity to get them secured, you have the full control to how you wanted to have your bitcoin, which where and what exchange to use, how you handles it determines the results you get concerning your privacy, but you cannot know all these without undergoing a rigorous learning ground to have a good understanding of the types of wallets, exchanges, and the right coin to invest on, if you're very well aquatinted to bitcoin in general and make discovery if this platform then i will say you're lucky enough because you're already on the right path to doing it right.

[stompix]

...All day long!
~
...And I keep repeating all the steps, again and again...
...All day long!

I don't know about others but this doesn't sound like mental awareness to me and more like self inflicted torture!
Why would you do this over and over and over again, the moment you have secured your wallets you don't need to go through the same steps of securing the keys for every coin from your add to your stash. You just send them to one of your already-created wallets and that's it.
Creating a new pack of cold wallets for every batch of coins you acquire will at some point end with a misplacement.

Take note that this isn't necessarily the best strategy. While you avoid losing all your coins in one go, it increases the chances of you losing your funds partially.

If I were to lose one of my wallets probably the first thing I would say is Thank You God I didn't put all my coins in this one!  
If you follow the same procedure for all of them the risks of losing one is almost the same as losing your single wallet, but I agree that if you start experimenting with 100 methods and 100 places and you try more and more weird and untested ways some will definitely fail.

[Dr.Bitcoin_Strange]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

The number 1 makes me remember the saying that goes, "Never put all your eggs in one basket." IMO, you are right about splitting your assets into different wallets. The reason I agree with you is because when you have your assets in one wallet, you always have to go online while spending your bitcoin, which can expose your wallet to threats, but when you have your bitcoin in different wallets, you only have to regularly use one each time you spend, which means less risk.

But on a second thought, I also think there is no need to split the asset into different wallets if you are sure you can safely secure your asset in a hardware wallet and keep your phrase in a safe place. If you are going to be holding your assets for a long time without having to spend them too often, then there is no need to split them into different wallets. Considering the type of wallet to use, the forum recommends an electrum or hardware  wallet as the safest.

Just like the local currency, when you have a small amount of money in a bank account, you sometimes feel less concerned about it because the money is just small, but once you have a huge amount of money in the bank, like $50,000,000, then it becomes a concern to you, often having your subconscious remind you, "Hope your money is safe in the bank," lol.. that's also how it is for Bitcoin. You become too concerned about your security when you have a huge amount of $$$ in Bitcoin but not only that, one must learn to protect their asset, either small or huge.

[indah rezqi]

>snip
1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

After the FTX case and all the chaos of centralized exchanges then I think anyone should consider these tips as well:

Reminder: do not keep your money in online accounts

Ideally, you should keep as large a percentage as possible of your crypto assets in a wallet where only you control the private keys. Electrum for Android or desktops is one good option. For iOS, there's BlueWallet. If you have a large variety of different crypto assets that you need to store, there's Unstoppable wallet. If you have never used your own trustless wallet before, using a mobile app is probably safer than using a desktop app. An even safer option, which you should definitely consider if you have a lot of crypto assets, is to use a hardware wallet such as Trezor or Ledger.

Unless you can choose a few recommended wallet, then you should consider not keeping your assets on the exchange for an amount you cannot afford to lose. Of course for certain amount you can keep it on the exchange, but for long term investment then you need to consider wallet that you have complete control over. Have self-custody for your assets, it's much safer for your goals in the long term.

[Yatsan]

>snip
1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

After the FTX case and all the chaos of centralized exchanges then I think anyone should consider these tips as well:

Reminder: do not keep your money in online accounts

Ideally, you should keep as large a percentage as possible of your crypto assets in a wallet where only you control the private keys. Electrum for Android or desktops is one good option. For iOS, there's BlueWallet. If you have a large variety of different crypto assets that you need to store, there's Unstoppable wallet. If you have never used your own trustless wallet before, using a mobile app is probably safer than using a desktop app. An even safer option, which you should definitely consider if you have a lot of crypto assets, is to use a hardware wallet such as Trezor or Ledger.

Unless you can choose a few recommended wallet, then you should consider not keeping your assets on the exchange for an amount you cannot afford to lose. Of course for certain amount you can keep it on the exchange, but for long term investment then you need to consider wallet that you have complete control over. Have self-custody for your assets, it's much safer for your goals in the long term.

I think it is time to end the drama about the issue concerning FTX. For sure many of us are aware of the risk of putting your assets on exchangers but still, people still continue such habbit. But I won't force them not to do so 'coz they might be trusting their exchanger that much. If we would look back to past, scams were on projects and rarely with exchangers. To my awareness, it is only FTX which became careless of their funds which yield to irreponsibility and collapse but that does not conclude that every exchanger would also do so. Indeed there is the slightest tendency, but generalizing will just result to FUD and bigger problems.

Going back with the topic, indeed this technology would make you aware of things, mentally. From planning, controlling oneself with actions, to speculating. But I doubt that is only due to this technology. It is applicable to lmost everything, it is just more emphasized on this blockchain because volatility is too high.

[Die_empty]

indeed we have to be careful in storing our assets in our wallets, but in my opinion, we shouldn't get stressed thinking about it, and also sometimes being too careful too, will cause depression so that the mind becomes stressed, in my opinion it's normal. because investing in bitcoin and crypto is definitely risky, and most importantly. don't put all of our wealth in bitcoin and crypto, because we won't know in the future.

One key advantage of a decentralized wallet is that it gives your total control over your coins. But this freedom comes with responsibility because the safety of your funds solely depends on you. Using bitcoin would make you mentally alert which gives you the uncommon ability to pay attention to details. Missing a single number or alphabet can cause loss of funds, therefore bitcoiners are very vigilant.

Keeping funds in different wallets is not a bad idea because of some uncertainty. Losing all your fund would be more painful than losing some. Also, just like a fiat account where you have a fixed deposit, current, and savings account, each of them serves different purposes. One might have different wallets serving different functions.

[Hypnosis00]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

...And I keep repeating all the steps, again and again...

Perhaps, it was necessary and a must to do in order to avoid tragic losses that commonly happen to beginners. If we all have that kind of idea, I guess only a fool person can be lost their money and lose control of their wallet.

Something I missed during my early days here but good thing I have not had bad experiences with it. But even if we do all of these things, we can't still be confident nor we can assure 100% secured from any hack attacks. Might be lucky if we are not their target but we never know in the future. But the idea of not using a single wallet to store our funds really makes sense this time since hackers are also getting smarter.

[lovesmayfamilis]

It's like paranoia . OP, if you're a neat person, you just need to have a hardware wallet and save your seed phrase properly. I don't understand why there is so much fuss. But this applies to neat people who know and understand what they do on the Internet, what they say, and also how they can store something.
Cultivate order in your whole life. No need to fuss and think a lot. Sometimes it's harmful. The habit of accuracy, although it has been said many times, is the most basic rule.

[Ucy]

...All day long!

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

...And I keep repeating all the steps, again and again...

...All day long!

Better to ask or search to see if there are trustworthy services that can safely automate everything for you till you receive your private/secret keys... and then decide whether to write them on fire/corrosion-resistant metals and bury/store them in safe places where you can easily remember you store them, and where you alone can access them.
Good services will gurantee you control of your funds/assets/values  before, during or after using their services . That means they will allow only you access to your keys which you alone can use to access your assets from any safe wallet that operates according to the Bitcoin principles of decentralization, transparency, censorship resistant, immutablity, privacy-friendly/anonymity-friendly, good rules, Community-driven consensus, etc. Good wallets will also gurantee you access to their services to safely carry out your lawful/good transactions. And they will adhere to the good Bitcoin Principles, as violating any of the principle weakens the security of the entire network and your assets.

[Frankolala]

OP you are thinking too much about the safety of your investment, which is making you to repeat those processes over and over again. Get your mind off your investment and think of how to get yourself a hardware wallet,you you have up to 0.5btc and above.

This is not good for your health, free your mind and have fun,it is simple as long as you are using a noncustodial wallet and you have done these steps once,its enough to keep your investment save. Too much thinking can lead to poor health condition.

[ethereumhunter]

That's what you have to do if you want to make sure your wallet is safe and no one will ever know how many bitcoins you have. And if we have found a way to store the assets and money we have properly, we don't need to repeat those activities. You really have to make sure that everything is under your control so that no problems can occur in the future. That's the point of always learning to protect your wallet because that's where you keep all your money.

[bittraffic]

Is someone you think going to rob you? No one is taking it unless you keep announcing you have money in BTC.
Don't stress yourself with just wallet backup and making it safe. You end up in a mental institution with that.  

I was thinking of being aware of what is happening to banks, governments, and other markets crashing while BTC remains calmer now. Not aware of just keeping private keys as private.

[Vampobit]

After all this time, I think Bitcoin has caused me more anxiety than fun and safety. I hate to say that, I start thinking oddly and insanely.

I will abstain from all that stuff. I will keep my wallets exactly as they are. I will not  change anything at all! And I will stop thinking about it! If I can't stop thinking about it, I will have to leave Bitcoin behind and change my positions... Unfortunately!

I know many people will laugh, but it does affect my mental health... I don't know what went wrong... But something did go wrong in the process!

[Odusko]

indeed we have to be careful in storing our assets in our wallets, but in my opinion, we shouldn't get stressed thinking about it, and also sometimes being too careful too, will cause depression so that the mind becomes stressed, in my opinion, it's normal. because investing in bitcoin and crypto is definitely risky, and most importantly. don't put all of our wealth in bitcoin and crypto, because we won't know in the future.

The first and most important lesson to learn is to know how to secure your wallets and conveniently exchange them without any risk of restriction or draining from either authority or scammers.
Bitcoin is all about security and privacy and while we are at that, we are absolutely responsible for the security and usage of our coins.
Learning wallet security and how to protect our digital wealth is very important if we want to have a financially stable and secure financial journey.

[cydrix]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

Mental awareness to Financial Discipline. This time of pandemic really opened my eyes to become literate when it comes to money. I totally agree with using different wallets but I prefer using hardware wallet if you really want to be safe. Using many wallets are sometimes confusing if you don't organize it very well. Having a secured wallet is peaceful since you are confident tht no one can access your wallet and drain you money out.

Is someone you think going to rob you? No one is taking it unless you keep announcing you have money in BTC.
Don't stress yourself with just wallet backup and making it safe. You end up in a mental institution with that. 

Having private or lowkey life will make robbers away. Don't show anything on social media for just flexing because you're risking you wallet in that situation. Stop risking your identity for fame.

[crunck]

indeed we have to be careful in storing our assets in our wallets, but in my opinion, we shouldn't get stressed thinking about it, and also sometimes being too careful too, will cause depression so that the mind becomes stressed, in my opinion, it's normal. because investing in bitcoin and crypto is definitely risky, and most importantly. don't put all of our wealth in bitcoin and crypto, because we won't know in the future.

The first and most important lesson to learn is to know how to secure your wallets and conveniently exchange them without any risk of restriction or draining from either authority or scammers.
Bitcoin is all about security and privacy and while we are at that, we are absolutely responsible for the security and usage of our coins.
Learning wallet security and how to protect our digital wealth is very important if we want to have a financially stable and secure financial journey.

Bitcoin security should be a priority, but that doesn't mean you have to spend all day with it figuring out how to secure it in different ways. Sometimes there's no need to be overly suspicious or make things more serious. Storing the private key is just like we try to store other important data, not too difficult. Make time for other things instead of spinning it all day, it won't make your life any better.

[Vampobit]

Having private or lowkey life will make robbers away. Don't show anything on social media for just flexing because you're risking you wallet in that situation. Stop risking your identity for fame.

I have no social media! None at all! However, as I said before, I became obsessed with all that. I need some time off.

[GreatArkansas]

3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.
(....)

You must be careful here also, sometimes it's very dangerous if you have multiple backups that are stored in different places because sometimes you will forget and may be found by other people and try to open them and steal all of your funds.
It's ok as long as you are aware that you have a backup stored somewhere else and you are positive that it's safe there.

[Leviathan.007]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

That's good to see bitcoin helped people increase their knowledge even in other fields. However, for example, this one is very much general not it's not just about bitcoin or any other asset. You may already hear people saying don't put all the eggs in one basket so if you made a mistake and lose some part of your money you will still have other parts of the assets in other safe places, it's nice to see you learned that from holding bitcoin but you could even learn it before entering this market.

[doomloop]

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

You love how BTC makes you think? How come when it looks like you are stressing yourself too much but this is something that I can relate. It's like the more BTC we hold the more we will overthink and get paranoid. I know this is wrong so I am just trying to be calm. You should too. If you know that you already done the right practice of storing your Bitcoins then you will be just fine. A few background on how I store/diversify my BTC, crypto, and fiat.

Basically, I only use 3 digital wallets. I don't download much because I think it will now be hard to manage my coins. 1 of these wallets is custodial and the other is non-crypto. So I only put most of my BTC in one wallet and I only have 1 private keys to keep.

[KingsDen]

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

You love how BTC makes you think? How come when it looks like you are stressing yourself too much but this is something that I can relate. It's like the more BTC we hold the more we will overthink and get paranoid. I know this is wrong so I am just trying to be calm. You should too. If you know that you already done the right practice of storing your Bitcoins then you will be just fine. A few background on how I store/diversify my BTC, crypto, and fiat.

I can rightly relate what you are saying. According to what the topic creator insinuated in the topic, it therefore means that the more bitcoin he owns the more restless and the more he's stressed in order to secure his bitcoin. I don't think it should be as difficult as he portrayed, a very simple and well-defined practice as yours could be okay to handle your bitcoin savings.

Personally, as he said that bitcoin made him think wiser, myself it is this forum that increased my mental awareness and not bitcoin per say.

[so98nn]

I am not sure if it has that kind of awareness or not but I have surely changed many things in my routine. This includes safe guarding of my private keys, keeping good eye on my ledger and old smartphone where I am keeping all keys, phrases and everything.

That does not seem to be mental awareness but it’s actual awareness associated with the security of our finances.

By the way keeping too much eye on our keys can also lead to burdened work. These are our savings, they must be kept with few copies only. Too much copies could be harmful.

[Deddyhoku]

One or two hardware wallets with paper backups is more than enough to feel save in crypto

[RealMalatesta]

It's like paranoia . OP, if you're a neat person, you just need to have a hardware wallet and save your seed phrase properly. I don't understand why there is so much fuss. But this applies to neat people who know and understand what they do on the Internet, what they say, and also how they can store something.
Cultivate order in your whole life. No need to fuss and think a lot. Sometimes it's harmful. The habit of accuracy, although it has been said many times, is the most basic rule.

It's really not that much of a trouble to do it, but it's also a lot of trouble not understanding how everything really works. I know plenty of people who do not buy bitcoin because they do not trust how they could store them, and I tell them about ledger nano wallets, and they say they would fear buying it, like literally the first step.

They are not entirely sure about buying it by giving fiat and getting crypto, they think they would give fiat and get nothing in return. If you lack confidence and trust that much to not even be sure about buying bitcoins then you shouldn't be in this market at all, you should staying away from it as much as you possibly can.

[molsewid]

...All day long!

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

...And I keep repeating all the steps, again and again...

...All day long!

Bitcoin teaches you financial literacy as well I think. Since I started to know crypto, I also started to secure all my accounts like tightened my passwords, avoiding some website that can harm my device, clicking some links and other things. Many people losing their money and assets because of these things what I mean is, since I started to earn in crypto I am now aware on how things works in web and also bitcoin and other crypto teaches me to diversify my fufns in order for me to sleep peacefully knowing that if I can't avoid losses there will still some asset that will not be move.

[Davidvictorson]

What the OP has mentioned resonates with me. My involvement in the cryptocurrency space has increased my sense of cyber and personal security. I am now more suspicious of any link, email, or website that looks a certain way or requests certain information. As a matter of fact, if an individual asks me too many personal questions about my bitcoin, I become highly suspicious of the person. Even now, my backup has a backup.

[tygeade]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.

That's good to see bitcoin helped people increase their knowledge even in other fields. However, for example, this one is very much general not it's not just about bitcoin or any other asset. You may already hear people saying don't put all the eggs in one basket so if you made a mistake and lose some part of your money you will still have other parts of the assets in other safe places, it's nice to see you learned that from holding bitcoin but you could even learn it before entering this market.

That's right, if you do something like lets say an ordinary investment on stocks, this has been done for many years so far and that's why it is not really a shocking result. However, if we are talking about putting all of your stock investments into just one broker and they make a mistake then all of your money would be gone. Which means you should be able to put them into different brokers just in case.

This is why I believe that we shouldn't be really focusing on anything like that for a while longer. I believe that we should be putting it in different wallets and one of them should be a ledger nano because that's a  good cold wallet it really helps out a lot.

[Fara Chan]

...And I keep repeating all the steps, again and again...

...All day long!

This is tiring work, isn't it? you keep repeating it all the time and keep thinking about it, isn't this a waste of time, in the meantime you have to find a safe way to store your assets, on the other hand you still doubt your deposit method, actually if you do the right thing, we I think you will know how effective the work you have done and isn't this not going to cause new problems if you really do it well.

but this is indeed a stressful job, but you just need strong anticipation in keeping your wallet safe.

[jrrsparkles]

...All day long!

I love how Bitcoin makes me think... all day long!

I have to admit, that after all, I think the whole point is to try to find the sweet spot. But for everything you do, you will always find yourself a new problem to cope with.

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet. But then you don't know what types of wallets to use.
2. You find what wallets to use. But then you must decide which wallet will hold the keys to the address with the majority of your money.
3. Then, you realise you must have backups for all your wallets. But how many backups and what types of backups.
4. You make the backups for each wallet. But then you must find where to store the backups.
5. You find a place to store the backups. But then you are not sure if the backups are safe.

...And I keep repeating all the steps, again and again...

...All day long!

1. You can keep the limit at two unless you have 500K or more amount worth of crypto currencies and just split the amount in hardware wallet which is safe and convenient than others.
2. Hardware wallet = secured even with infected device, paper wallet= ultimate safety, non custodial light weight wallet like electrum = for everyday use.
3. You should have atleast one backup of private keys for each wallet and it should be in physical form.
4. anywhere not accessible by other than you.
5. Repeat 4, then you can feel safe.

[klidex]

What the OP has mentioned resonates with me. My involvement in the cryptocurrency space has increased my sense of cyber and personal security. I am now more suspicious of any link, email, or website that looks a certain way or requests certain information. As a matter of fact, if an individual asks me too many personal questions about my bitcoin, I become highly suspicious of the person. Even now, my backup has a backup.

Vigilance and caution must always be prioritized in engaging in the cryptocurrency industry because many acts of fraud or theft by hacking are carried out on websites or certain scam links.
Don't let carelessness open a scam website make you lose all the assets that you have collected and stored.
Conceal information about your assets so that no one else knows that you have Bitcoin crypto investment assets especially because they could have bad intentions towards you. We also don't know someone's intentions and what someone will do if they find out we have a lot of crypto assets .
Maybe there are a lot of new investors out there who say that they have adopted a lot of crypto and Bitcoin, but they don't think about what impact they have, saying all that can threaten the security of their own investment assets.

[mindrust]

Bitcoin has that kind of effect on the human brain indeed. That is because bitcoin makes you think. It makes you think about the financial system, how the elites are ripping off the poor, the world hunger, poverty, low wages and the most importantly... the gold standard.

They more you think the more your brain muscles work. The more your muscles work, the bigger they get. Bigger, harder and last longer.

I think in the future some smart scientist will come up with a bitcoin pill and overtake viagra.

[johnsaributua]

it's the simple thing that comes out of the blue. but I think for bitcoin it's pretty strong. and I think the choice of wallets is quite a lot. including the bitcoincore wallet. what worries you is not because it is difficult and easy to find bitcoin but more than that the bitcoin we have is very valuable even if it's just a few satoshis. if you want to do research you can store it at cex like binance etc. which has security complete enough (otp) indeed there is nothing safer in the crypto world,but I prefer to withdraw some % for fiat or other cex..I don't like non-custodial with vulnerabilities that can be created by dusting or whatever it is. bitcoincore in my opinion is quite strong.

[Pmalek]

if you want to do research you can store it at cex like binance etc. which has security complete enough (otp) indeed there is nothing safer in the crypto world...

What kind of research is that? That's terrible advice. Exchanges should not be used for holding your coins. They are not wallets. How many more hundreds and billions of dollars worth of crypto need to be lost before people realize that? 

I don't like non-custodial with vulnerabilities that can be created by dusting or whatever it is. bitcoincore in my opinion is quite strong.

Dusting as in dust attacks or what are you talking about? That's not a vulnerability. Good wallets allow you to freeze coins and never spend the dust if you don't want to. Bitcoin Core is a non-custodial wallet that can be dust-attacked. You don't like non-custodial wallets, but you have a good opinion of one of the most popular wallets in this category. 

[crwth]

Mental awareness, as in you are continuously thinking you would be able to think about a different thing and focus and focus more doing the same thing, and not being able to decide what to do? Maybe you are just aware that you need to do those kinds of stuff to become secure with your assets, and mental awareness is different.

I hope you don’t do it continuously anymore because it just means you are paranoid and unable to feel secure with what you have. Once you have set up the right SECURITY, you can think about a different thing and focus on another thing.

[SOKO-DEKE]

1. You must split your coins in 2-3 wallets, to avoid losing all your coins if they are all in one wallet.

Storing your coins in more than one wallet doesn't give guarantee that your coins are well secured despite using non custodial wallets, but all depends on how you provide your non custodial wallet with strong securities, by keeping your private key and seed phrase safely. If you keep your found in different wallet and does wallets is no well secured you can lost all your funds also. All i know is that provide your wallet with strong securities and your found will be safe always.

5. You find a place to store the backups. But then you are not sure if the backups are safe.

Yes, it is true that we store our backups and we are not sure that if the backups are safe due to where we store them, but you can be  90% sure if you store them in ways, and that is why they use to advise us to always hide it privately where it will hard for any to find it expect you and who tell about it.

[Raflesia]

I actually don't even have many thoughts like that, just follow the flow that I previously created here comfortably, but there have been some changes, at least if you look at the experience that I have gotten from myself and others, namely staying consistent in doing something, if it's DCA, then focus there if you trade then you also have to focus on your trading and of course keeping a lock is one that I have emphasized especially for the past few months because indeed for now there are even more people losing their wallets and whatever it is that causes them to get very messy.

[danadc]

I have been learning about bitcoin for a few years, and the truth is that I have also felt that I have more understanding of world economic movements and my forte is not the economy, my forte is the environment and all the care for animals, but I also see that bitcoin can help raise awareness of the environment and can also help raise awareness about animal care, so that there is no more abuse and since it is almost unrelated to these things, bitcoin represents money and Many things can be fixed with money, it's not happy, but it's close to being happy.

[n0ne]

I have been learning about bitcoin for a few years, and the truth is that I have also felt that I have more understanding of world economic movements and my forte is not the economy, my forte is the environment and all the care for animals, but I also see that bitcoin can help raise awareness of the environment and can also help raise awareness about animal care, so that there is no more abuse and since it is almost unrelated to these things, bitcoin represents money and Many things can be fixed with money, it's not happy, but it's close to being happy.

Meanwhile the mining process which is the backbone to the bitcoin network is mentioned as a big pollutant. Only through learning we can understand the reality and it is a must to spread the truth about it, because there are people who are highly concerned about the environment and for that reason they never prefer using these kind of technology dependent things.

[CryptounityCUT]

Isn't this tiring? Repeating and thinking stuff all day long?  and wouldn't this be a waste of time instead of doing something beneficial you are stuck wondering if your method of securing your bitcoin is right?  Why do it by yourself, you can always find instruction that can safely secure your wallet in one go.  If you happen to do it correctly, it won't produce any new problem unless you have problem trusting proven instructions and has tendency to doubt everything you do, I think yo better consult a psychiatrist/psychologist.

indeed! that would be stressful. if you feel you have done it correctly already, then stop. you can only do so much to protect your wallet. just make sure you are not pressing some unknown links or installing apps over the net that will make you vulnerable to attacks. but hey, with so many things happening around us, it is understandable that some are paranoid with the possibilities of getting screwed up.

I agree. Interesting about bitcoin is that it is so safe that only you can make mistakes do be scammed. Dont talk to anyone like "yeah i own a lot of bitcoins", don't push necessary links and so on and you will be just fine.

[Chrlie95]

Dealing with the crypto market is challenging for its volatility and unpredictability. I only invest what I can afford to lose and try to have a well-thought-out strategy in place to manage my investments. I also take breaks if I start feeling stressed or overwhelmed. Also, it is important to diversify the investments and not put all the money into crypto, as it is important to have a balanced portfolio.