Bitcoin increased my mental awareness

[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.

[1714882107]

1714882107

[1714882107]

1714882107

[1714882107]

1714882107

[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.