Hey Bitcoiners Choose Simplicity Over Complex Technicalities

[Fatunad]

As a Bitcoin enthusiast, I want to say briefly that you shouldn't sacrifice simplicity for technicality. You are more likely to lose your bitcoins because of too much technicality than to scammers or hackers. An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward. Another example is using simpler and recommended ways to protect your seed phrase instead of some ways that has too much complexities and technicality to it any mistake can result in its loss forever.

In summary, it is more practical to stick with user-friendly options that you understand well than advanced options. Simplicity and a strong foundation of knowledge are your best allies in safeguarding your bitcoin.

You wouldn't really be that so dumb on diving in without having that sufficient knowledge on things on which it is really that impossible for someone who do make things without even thinking on what it is,specially if we do talk about storing our bitcoin then it would really be just that normal on human instinct or behavior that we do need to research up first before making further step. There might be some those dumb people who do carelessly making out some actions without thinking up first but majority of us would really be that mindful about the actions that we are making since we are basically be dealing up with the money that we are really that tending to store for long term. Technicalities about storage about your Bitcoin isnt really that too much to comprehend even if you arent that tech savy or does have that high knowledge about digital things but having making use of your own common sense should really be that enough for you to determine on which thing is really that viable for it to be done and what things should really be that be avoided.

Its impossible that you cant really be able to distinguish which thing that best for you but of course there would be people who would really be making actions which arent even that
worth or right on doing so and this would really be resulting on losing up their precious coins.

[Egii Nna]

I would say it depends. If you have 0.001 bitcoin, then it's not worth a lot of technicalities, nor a multi-signature. On the other hand, if you have 100 bitcoin and you don't care about the technical aspects and you don't have systems like multisignature to protect your wealth, you are simply a fool with money.

It doesn’t matter if you have small amounts of bitcoin or a larger amount of bitcoin; that will determine whether you should use a multi-signature to safeguard your coins. No matter the amount of your coins, they need protection and security. Someone with 0.00001 bitcoin today can have 100bitcoin tomorrow. Do you mean that is the time when he or she will start safeguarding his or her wallet? No, because no matter how many coins you have, you need to protect them because they are worth money.

As a Bitcoin enthusiast, I want to say briefly that you shouldn't sacrifice simplicity for technicality. You are more likely to lose your bitcoins because of too much technicality than to scammers or hackers. An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward. Another example is using simpler and recommended ways to protect your seed phrase instead of some ways that has too much complexities and technicality to it any mistake can result in its loss forever.

What I understand here is that you have just been lazy, because if your account is not safeguarded, hackers will have access to it without lots of stress. When you think you are following simplicity, you are just being too lazy to learn.
That is why educating people to purchase or invest in bitcoin is not enough; it is also important to encourage them to engage in classes and research that will help them understand bitcoin and its technical aspects. You can purchase bitcoin, but it is of no use to you if you don’t know how to safeguard it because you might lose it due to your ignorance and think that bitcoin is just a scam. So let's protect our bitcoin and learn more about the technical aspects of bitcoin. It will help you a lot.

[The Cryptovator]

I am not getting what you want to express, actually. If you are afraid to store your cryptocurrency in multisign wallets, then we can simply use hardware wallets. It's actually called simplicity but secured. Electrum isn't an advisable wallet for storing large amounts there. We have seen how fake upgrades drive lost wallet access. So it won't be a secure way to store crypto. Simplicity always won't bring the best for you. Hardware or a cold wallet is the best way to avoid complex technicalities. Just be more realistic and learn the proper things related to storing your bitcoin. Because an unsafe store won't be an ideal simplicity procedure.

[letteredhub]

An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward.

It is worth knowing that wallet like Electrum can be used for multisig setup.

To learn about bitcoin wallet is not what is hard. I prefer multisig than single signature wallet on online devices. It is safer.

using a multisig wallet is something that increases the level of security of wallet and funds but it can turn out to be a disaster for an individual, a newbie who for sake of wanting to level up his wallet security chose to make use of multisig wallet Just to later encounter the technicalities involved and making a mistake that could cost him his funds eventually. If I have so much money to protect that much I'll simple make use of a hardware wallet if am not comfortable with using a single signature wallet.

[serjent05]

One must have a basic knowledge of the functionality of a wallet.  I do not think that multi-sig is that complex since there are already lots of tutorials on how it can be done online.  Besides there are other available tools that can simplify storing Bitcoin like hardware wallets, storing private keys in a fire, water, and rust-proof box.  I don't think this kind of security is too complex for non-technical people. 

[OgNasty]

There are always choices in how to store one’s Bitcoin and I would even suggest people choosing more than one method. For many users it is a tightrope of how to store your coins though. They want simplicity without someone being able to get their private key from a sticky note on their monitor, but also don’t want to mess something up and lose all their coins.

[Cryptomultiplier]

There is so much wisdom in this post and its simple presentation sure buttresses the point you, OP has made.

I would like to use a good example of the difference between Binance and Bitget. While the Binance features are more easier to understand and navigate for beginners and intermidiate users, Bitget offers a rather complex navigational features with the inclusion of AI bots to assist professional or big long time merchant traders.

Same goes for wallets, it is good to use a simple wallet that wouldn't require much looking after to secure it, because the phrase 'not your keys, not your coins,' means  if a user loses or forgets their seed phrase, the coins will remain lost without any claim or access to it.

[Z-tight]

Inventing your own method of security isn't recommended, such as obscuring your seed phrase backup or importing the same wallet into different devices, things like these would only mean you'll either lock yourself out of your funds or lose it another way. But it is great to learn how to use recommended methods of protecting your funds, even if they may be a little bit complicated to you, methods such as setting up an airgapped wallet, extending your seed phrase with a passphrase, running your own node or Electrum server, etc, you must know what you are doing before implementing these solutions, but it is recommended you learn how to implement them for better security and privacy.

[jeraldskie11]

If you don't have enough knowledge on that, you should take a pause. We must exercise caution because money is involved. Others believe that multisig is more secure than a single signature wallet since it requires more than one signature to confirm a transaction. As I previously stated, it is only applicable to people who have sufficient knowledge of it. Personally, I prefer a one signature wallet because it is far more efficient. The only thing more important to me as a secure wallet is an open-source, non-custodial wallet like electrum.

[lionheart78]

We are talking about security here, meaning we are looking for complex systems so that hackers will be having a hard time cracking our security.  There is nothing weight more than having a complex system that makes hackers doubt their hacking skills but of course, but of course, the option to choose is from the users themselves.  I prefer this kind of complex system when implementing security.  I bet those who are in the right mind have recorded the step-by-step and all important things in applying this complicated system. Only lazy and overconfident will fail to record important details when setting up a complicated security.

If one has huge funds in the wallet address, I bet he will even hire experts to teach him how to securely store his funds. 

It will be another story if we only intend the address to be our hot wallet for spending and transactions.  Still security shouldn't be overlook in this scenario.

[taufik123]

Sacrificing simplicity for technicality will it look bad?
It even depends on how a Bitcoin enthusiast learns the complex and technical stuff.

Bitcoin enthusiasts should certainly know what steps to take, learning the technicalities to support the ever-evolving technology and innovation.

Don't let simplicity be the reason for not being able to learn technical things.
I also like simplicity because it's not too complicated.
But when you are able to level up and learn the technical ones, you will have more knowledge.

And the example you gave about storing Bitcoin in software like Electrum is not easy at all for beginners who don't know anything.
It requires precision and technical knowledge as well.

Storing Bitcoin on a multi-signature device is just an extension of storing on software like Electrum.

[Husires]

Stick to the bare minimum, which is to use a good wallet, in an airgapped device or burn an operating system to flash and create the seed, extract the public key and track your coins from that key.
There are not many complications in this plan and a person with limited knowledge should have the ability to perform such numbers.
A multi-signature wallet is necessary for situations such as a war, a dam collapse, or a hurricane. Then you will think of alternative plans or multiple options if the specific disaster occurs, and creating such a wallet requires only two or three hours of your time to learn and 15 minutes to implement.

[icalical]

As a Bitcoin enthusiast, I want to say briefly that you shouldn't sacrifice simplicity for technicality.

You missed the most important aspect of this topics, Security. I do agree that I tend to choose wallet which more simple, but I wouldn't sacrifice the Security.

You are more likely to lose your bitcoins because of too much technicality than to scammers or hackers. An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward.

There is a solution if you don't want to learn the complex technicality, and that is Hardware Wallet. It's very straight forward, you invest your money to protect your fund with better security. If you don't want to invest your money at least you should invest your time to learn more about the security so you can minimize the possibility of your fund get stolen.

Don't get me wrong, I also simple Electrum wallet, and sometimes even Exchange wallet, but only on the case that I need the fund to be quickly transferred or exchanged. But for the fund that you hodl, hadrware wallet is the way.

[kryptqnick]

I agree that simplicity is important, but perhaps to a certain point. The op mentions Electrum as a simple wallet, and while I agree with that, I believe that there are people who find Electrum more difficult than, say, popular exchanges. And exchanges, of course, use that point, an example of which is the famous phrase by the CEO of Binance that 99% of people who hold cryptos on their on will lose the money. I don't agree with that, I think people are capable of responsible self-custody and don't need exchanges to store their coins (they may need exchanges for trading or to exchange coins occasionally, but that's a different matter).

[tjtonmoy]

If you want to have the best, you will have to learn the best. There is no other way around it. Doing anything that you don't understand is a foolish decision but if you don't do anything, you won't learn anything. So in order to safeguard our privacy, our assets and our security we need to learn it no matter what. I don't think it is too much complicated. Yeah, it is true you won't understand it at a single glance, but that's the thing with everything. You never know until you try it. And the more you try, the better you become.

The thing you adore the most, won't you keep it safe? You can keep your Bitcoin in a software wallet for the time being until you learn the complex thing. And when you learn it, it is not as complex as you think. For instance when we were in first grade things were difficult. As we move to the second grade what we learned in the first grade becomes easier. Everything happens the same way. When you learn it, it becomes easier.

If you have the time to invest and learn then don't be lazy. You could have saved all of your assets if you had only to spare some of your time to learn the complex thing. Don't chicken out on learning. Knowledge is everything.

[Stepstowealth]

In summary, it is more practical to stick with user-friendly options that you understand well than advanced options. Simplicity and a strong foundation of knowledge are your best allies in safeguarding your bitcoin.

Simplicity especially when you are not used to technicalities will save you from a lot of stress and heartache that you may cause for yourself from trying something you are not used to. Simple safety steps can also be very effective if practiced correctly. You can choose technicalities if you are good with technical things and simply have an understanding for them, technicalities will be easy for you. I have heard simple cases of people who have tried to make their access password to their simple devices very complex and ended up forgetting it, do not things that you are not used to especially now that money is involved.

[FinneysTrueVision]

As a Bitcoin enthusiast, I want to say briefly that you shouldn't sacrifice simplicity for technicality. You are more likely to lose your bitcoins because of too much technicality than to scammers or hackers. An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward. Another example is using simpler and recommended ways to protect your seed phrase instead of some ways that has too much complexities and technicality to it any mistake can result in its loss forever.

In summary, it is more practical to stick with user-friendly options that you understand well than advanced options. Simplicity and a strong foundation of knowledge are your best allies in safeguarding your bitcoin.

Electrum has the option to create a multisig wallet but I get the point you're trying to make. A single signature wallet is sufficient for most people. A standard Electrum wallet is a practical choice for beginners. Multisig and Shamir backups require a higher degree of responsibility but if someone has the technical understanding they should not be discouraged from considering options that may provide better security.

[taufik123]

-snip-
I have heard simple cases of people who have tried to make their access password to their simple devices very complex and ended up forgetting it, do not things that you are not used to especially now that money is involved.

That's an example of people being too paranoid about security being too simple.
Even though if something simple is well maintained and without any mistakes from the user it will also remain safe.

But some people who already understand the security used, make it a little complicated and technical it is their own responsibility.

Creating a new layer of security that is difficult for anyone to penetrate.
It involves a lot of effort to keep it safe and don't be too stupid to do technical things but don't fully understand what you're doing.

[Traderbtcc]

As a Bitcoin enthusiast, I want to say briefly that you shouldn't sacrifice simplicity for technicality. You are more likely to lose your bitcoins because of too much technicality than to scammers or hackers. An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward. Another example is using simpler and recommended ways to protect your seed phrase instead of some ways that has too much complexities and technicality to it any mistake can result in its loss forever.

In summary, it is more practical to stick with user-friendly options that you understand well than advanced options. Simplicity and a strong foundation of knowledge are your best allies in safeguarding your bitcoin.

You're absolutely right! Keeping things simple is important, but with all the hacks and scams happening lately, it's crucial to be cautious. That's why many people opt for multi-signature setups or storing their coins on exchanges like Binance. However, in my opinion, using a Ledger is a wise choice. It's one of the safest and easiest ways to secure your coins, especially if multi-signature is too technical for some. Stay safe and secured

[AmoreJaz]

You're absolutely right! Keeping things simple is important, but with all the hacks and scams happening lately, it's crucial to be cautious. That's why many people opt for multi-signature setups or storing their coins on exchanges like Binance. However, in my opinion, using a Ledger is a wise choice. It's one of the safest and easiest ways to secure your coins, especially if multi-signature is too technical for some. Stay safe and secured

do remember that it is never a smart idea storing your coins in exchanges. you have no control with your funds here. just go for electrum if you want a simple one. and once you learn more things, that's when you can move to other solid and secure options like ledger.
electrum for me is more than enough if you have no big funds to store with. just make sure you are very careful in every transaction that you make and not fall from the bait of these scammers.