What was your first impression of how Bitcoin works?

[Tinyphilus]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

[Marvelockg]

If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

your first impression does not really matter as such. what matters is the truth about bitcoin and the whole ecosystem which helps protect you from losses of any kind. As a newbie there is going to be so many wrong impression you will have most of which tilt towards an ideal believe about bitcoin that are actually too good to be true. that is a common thing with most investors and forum users but with time, you should learn by going through threads on the forum which will guide you into real fact about bitcoin and not just an impression that is based on some random narrative you got outside.

As for your keys, it is as important as your coin so if you value your coin, you sure want to ensure that you keep your keys as safe and secured as possible.

[joniboini]

Agree with what has been said above. After years on this forum, your first impression is hardly being discussed. At best, people ask that to eventually correct some of your assumptions about crypto, which doesn't have to happen if we're discussing crypto in-depth. Your misleading assumption will get ironed out eventually.

As for your feeling that personal responsibility is important to secure your crypto, that's not wrong. Self-custody is great. Some people dislike it because it feels inconvenient at times, but trust me, you'll accept that trade-off if you know how often people lose money because they trust an exchange yet that exchange got hacked or something else happened to them. 2FA or something isn't a magic tool either. You must understand what they do before you use them.

[Die_empty]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Having used centralised platforms for a long time, it is common to be scared of becoming your own bank. The responsibility of keeping your keys safe from both online and offline threats might be scary. We are used to shifting financial responsibilities to centralised organisations. But as we gain more experience, we realise that it is far safer than keeping money in banks. At first, I thought it was too risky to keep Bitcoin, but lessons on privacy and security have allayed those fears.     

[hero_the_bossman]

You need to adapt to keep things on track.

No matter how much you know or knew, you will always have the ability to know more.

[SilverCryptoBullet]

For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks.

It's your key, it's your bitcoin.
It's not your key, it's not your bitcoin.

Key in this context is Private Key, not Public Key and you only can have your Bitcoin private key if you use custodial wallet aka. self custodial wallet. If you use custodial wallets like centralized exchange accounts, you don't have Bitcoin Private Key.

Bitcoin Q&A: Not your keys, not your coins.
Not your keys, not your coins (Chainsec.io)

For those who have been in the game longer, what was your first impression when you realized how it actually works?

How Bitcoin works is kind of complicated and you must read a book to understand it.
The Bitcoin network.
The blockchain.
What is the Bitcoin network?

Impression, personally Bitcoin blockchain works very well, secure, permissionless and irreversible.

[CryptSafe]

xxxxxxxxx As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Welcome back seems you went on a long-term holiday, but nice you are back. Yes, your wallet and assets are indeed your personal responsibility. While they are under your care, you owe yourself to ensure your personal asset safety because it is up to you to do so, if you lose it, you are liable for your actions, so it would be in your best interest to protect it. I had my own fair share of it all in my early days of bitcoin adoption.

Although I lost some assets as a result of negligence to do the needful, that was in the past, but after that experience, I had a thought in comparison with the bank, like if my money is under their custody, it is protected than being under my custody but the banks are very dirty with their games, and the second thought about it that if I handle my assets with care under my custody, there would be no need to worry about anything as I will be free of all third parties activities including the banks so I had to come up with my own drafted plans on how to go about my own personal asset safety. I took my asset security very seriously, like a personal business, which you would not allow to get liquidated. I was very cautious about my activities online to not click ads and links with malware and things that could cause a security breach on my path. This has kept me safe till this moment as I respond to your OP here.

[Franctoshi]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Firstly, when I heard about Bitcoin 2017, I thought it was another Ponzi scheme, or other form of get rich, I bought some sold off, when the Market crashed same 2017, but later when I realized what Bitcoin is true is, Bitcoin is freedom form of money,  you are your own bank, without any third party involvement, first of its kind, I regretted my decision of selling my Bitcoin that early. Today that Bitcoin would have worth Millions in my local fiat currency.

[Aanuoluwatofunmi]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms.

Bitcointalk is one of its kind and no other.  

As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives.

That is why we needed to be updated, learn more each day to discover the unlearned about bitcoin.

For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks.

This aspect and idea you've got will help you in so many ways in understanding more about the scope of bitcoin, because its disappointing knowing that some are still using bitcoin without having an idea of these aspect.

For those who have been in the game longer, what was your first impression when you realized how it actually works?

I felt it was the best opportunity i could use to make recovery of my long time awaited years of a decentralized economy.

[Tinyphilus]

If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

your first impression does not really matter as such. what matters is the truth about bitcoin and the whole ecosystem which helps protect you from losses of any kind. As a newbie there is going to be so many wrong impression you will have most of which tilt towards an ideal believe about bitcoin that are actually too good to be true. that is a common thing with most investors and forum users but with time, you should learn by going through threads on the forum which will guide you into real fact about bitcoin and not just an impression that is based on some random narrative you got outside.

As for your keys, it is as important as your coin so if you value your coin, you sure want to ensure that you keep your keys as safe and secured as possible.

Yeah, thanks. Makes sense that first impression can be off and more reason why I like this forum cuz people get to share the real side of things. Nonetheless, the keys and coin point hits hard as it really shows how much responsibility is on the individual. For you personally, what was the first 'truth' about Bitcoin that changed the way you saw it?

[FortuneFollower]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Firstly, when I heard about Bitcoin 2017, I thought it was another Ponzi scheme, or other form of get rich, I bought some sold off, when the Market crashed same 2017, but later when I realized what Bitcoin is true is, Bitcoin is freedom form of money,  you are your own bank, without any third party involvement, first of its kind, I regretted my decision of selling my Bitcoin that early. Today that Bitcoin would have worth Millions in my local fiat currency.

Many of us probably made such a mistake at the start, and that's okay: after all, BTC wasn't that known, although we may of know better about it.

Now, we all understand what we need to do.

[Cryptohygenic]

For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

What caught my attention to adopt the use of bitcoin was when I realized the fiats system is devalued as the economy improves which are terms of losts for those holding in the conventional system. Realistically, before the day we realized this fact, it is assumed that we have been holding our funds in the devaluing banking system. The innovation and scripts of bitcoins valuable potentials to feasibly hold our funds with the potentials of increase in values over the long time is what obliged my obligation of adopting bitcoin because, banks is not safe at all.
Like said, the utmost peak of the interests about bitcoin is it decentralizations that users are on the highest authority with their funds.

[Dunamisx]

Now I believe that first impression last long, you can't afford to admit the relevance of bitcoin when on the first approach you had with it was a terrible experience, this may also come as a result of what other's are saying, which is part of what has made some not to be fully engaged in bitcoin because they had earlier bad impression about it being a ponzi schemes and the likes of FUD going online regarding what some may be saying, but as for me, once it can be a legal tender, used as a payment currency, store of value, tracked records of success, secured network and so on, bitcoin remains all I want.

[Arenga pinnata]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

My first impression when I first learned about Bitcoin wasn't really focused on the system itself. Initially, I was attracted by its increasing value and its rapid adoption. Initially, it was owned and traded by a small community, starting from there, but now we can see even large institutions, large companies, and even countries continuing to accumulate Bitcoin. Some countries are even building their own Bitcoin mining farms.

The more I delved into the Bitcoin system, the more I was impressed by how transparent it is through its blockchain and the freedom I felt thanks to its decentralization. This truly gave me peace of mind in safely storing my personal assets. The only obstacle I encountered was the urge to sell my accumulated Bitcoin every time I saw it hit a new ATH. But I held back because my goal wasn't short-term, but long-term.

So, my first impression of Bitcoin after learning about the system was like discovering a hidden gem whose true value could be much higher in the future. I can't even explain my own impression. What's clear is that I'm very interested in continuing to collect it. And maybe I also just realized how convenient a decentralized system is compared to a centralized one.

[Tinyphilus]

Agree with what has been said above. After years on this forum, your first impression is hardly being discussed. At best, people ask that to eventually correct some of your assumptions about crypto, which doesn't have to happen if we're discussing crypto in-depth. Your misleading assumption will get ironed out eventually.

As for your feeling that personal responsibility is important to secure your crypto, that's not wrong. Self-custody is great. Some people dislike it because it feels inconvenient at times, but trust me, you'll accept that trade-off if you know how often people lose money because they trust an exchange yet that exchange got hacked or something else happened to them. 2FA or something isn't a magic tool either. You must understand what they do before you use them.

Makes sense. Have you ever had a personal experience that made you learn not to ever use third parties or you learnt from other people's experiences?

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Having used centralised platforms for a long time, it is common to be scared of becoming your own bank. The responsibility of keeping your keys safe from both online and offline threats might be scary. We are used to shifting financial responsibilities to centralised organisations. But as we gain more experience, we realise that it is far safer than keeping money in banks. At first, I thought it was too risky to keep Bitcoin, but lessons on privacy and security have allayed those fears.      

Thank you. What was the one thing that made you feel secure about it?

[jcojci]

Bitcoin will be my bank. That is my impression. I am amazed I can save my money without banks interfere. But behind that, I need to have responsibility to control and manage my wallet.

I also amazed with Bitcoin price that can increase high and give me the profit. That is why I invest my money in Bitcoin and enjoy the profit. The profit is bigger than the bank interest although I need to wait for some time to see the price increases.

[Tinyphilus]

Impression, personally Bitcoin blockchain works very well, secure, permissionless and irreversible.
[/quote]
Out of secure, permissionless and irreversible which one do you think impacts Bitcoin use the most in the real world?

[Floxynice]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

My first impression of Bitcoin is totally different from what you have here. At least you had a positive view of Bitcoin, I was one of the numerous people who thought Bitcoin was a tool used by criminals to hide their identities. You won't really blame me, the government hated Bitcoin and the bitcoiners I  saw on social media were always flaunting cash and other luxury items like Bitcoin was a get-rich-quick scheme. All those negative thoughts about Bitcoin changed when my boyfriend started his Bitcoin journey and I realised that Bitcoin wasn't a scam after all.

Here I am, deep into Bitcoin, everything doesn't just seem amazing, but beyond my expectations of Bitcoin. The blockchain, it's features, decentralization, volatility and many more. Bitcoin is indeed unique to those who understand it.

[r_victory]

At first, I was apprehensive, not about Bitcoin itself, but about the security concerns I needed to address: keeping my keys safe, transactions irreversible, and constantly vigilant to avoid making mistakes and losing my money. The first year I learned about cryptocurrencies in general, I was hacked, sent a significant amount to the wrong address, and so on. It was difficult to learn this way, but I learned, and today, cryptocurrencies, especially Bitcoin, are part of my daily life.

[Awaklara]

For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

You have a valid view. You yourself control the Bitcoin you own, unlike when you have money in the bank. It sounds safe, but is it really as safe as it sounds? Probably not.
My first impression of Bitcoin was not much different from saving money in the bank. Because initially, I bought it and kept it on the exchange. But with experience and new understanding over time, I learned the right way to store my own Bitcoin. It truly belongs to me and is under my control, just like cash in my wallet.