STORE

Haunting-Student-756

BTC doesn’t care what u think. Tick tock next blocks. PEOPLE WHO CHOOSE FIAT AS A STORE OF VALUE WE CALL THEM POOR

Realistic-Jelly8133

If you are choosing a multisig setup, you probably have a significant amount of Bitcoin that would be catastrophic to lose. If that's the case, invest in your security and just order the 3rd hardware wallet. You are complicating your setup and risking a lot by wiping one of the private keys to rely on the seed phrase alone. If you do decide to do a multisig setup, you absolutely must know what you are doing since there are some extra steps that could result in loss of Bitcoin. The most important one is: YOU MUST SAVE THE XPUBS OF ALL THE KEYS AND STORE THEM IN MULTIPLE LOCATIONS. Having a quorum of private keys is not enough to sign a valid Bitcoin transaction. You need the xpubs of ALL the keys. Sparrow or electrum does this under the hood for you, but if you need to restore the wallet, you will need ALL the xpubs to restore it

yekcowrebbaj

So basically your only argument for Dogecoin is that it is an extra volatile money substitute? You realize that “money” is defined by three qualities- medium of exchange, as a unit of counting, and STORE OF VALUE- which in theory means it does not depreciate. Currency was/is traditionally a store of value until the US Government introduced quantitative easing. Cryptocurrency, specifically Bitcoin, was created to combat unlimited inflation fiat and you have simply replaced it with a picture of a dog. There is nothing revolutionary about how you’re approaching macroeconomics and by saying you don’t want Doge to act as stable store of value you’re essentially saying you don’t want it to be actually used as currency. There is nothing good about a dollar that can swing 20% in a day, has unlimited inflation, and won’t even be close to the current inflation rate of the dollar until like 2075 or something if the model even ends up working like they want.

Frogolocalypse

> SO VOLATILE CAN NOT BE A STORE OF VALUE. I started buying bitcoin at $400. How am I doing? Objectively.

vovouenas

man, just do your research on what a store of value actually is. This is not about who’s an expert or not on reddit. This is about education. Something SO VOLATILE CAN NOT BE A STORE OF VALUE. It is as simple as that. If it worked for you, that’s amazing! It doesn’t make it a store of value, STILL. As simple as that.

NoisePollutioner

Highly upvoted comments like this concern me. Bitcoin's competition is clearly NOT the USD or any other fiat. Bitcoin's competition is true STORE OF VALUE assets, including gold, but most importantly stocks. Stocks are, by far, the most common vehicle for storing value over long time horizons. Almost everyone buys them to fund their retirement, which is often decades away. People who point out how much better Bitcoin is than shitty fiat are missing the point. It's a strawman. Yes we know how much the USD and other fiat sucks for long term value storage. But that's not the question. The question is this: #Why is Bitcoin a better long term store of value than stocks, bonds, and real estate?

ztsmart

Hi >If Bitcoin has “no intrinsic value”; what exactly is the “intrinsic value” of gold. Bitcoin has intrinsic value. I think utility is a better less ambiguous word for what people seem to mean by this--as nothing is "intrinsic" if it is isolated. Bitcoin's utility is the same utility of money. Money allows economic coordination across people and space but most importantly across time. A society with money is more productive than one without money because productive people can accumulate economic AND STORE IT over time. Without money they cannot do this. And Bitcoin is the best money. So Bitcoin's utility is that it increases economic efficacy, allows lower time preference and increases productivity. Gold and fiat (including Bitcoin, which is also fiat) do this as well, but Bitcoin does it better than all other monies.

am-i-a-peepee

Not really bitcoin, but the fact that people are too stupid to understand and have a hard time grasping what it is. IT’S A DIGITAL CURRENCY THAT OPERATES ON A DECENTRALIZED NETWORK CALLED BLOCKCHAIN THAT ALLOWS FOR PEER TO PEER TRANSACTIONS WITHOUT THE NEED FOR INTERMEDIARIES LIKE BANKS, AND ITS SCARCITY IS ENFORCED BY ITS CODE, MAKING IT A STORE OF VALUE AKIN TO DIGITAL GOLD. All summed up in one sentence and these dumb mfs still won’t get it.

Sensitive-Ad-5479

apple took it off the app store. but SPARROW DOES NOT HAVE AN APP ON THE APP STORE. it had the same logo and name, once i put my seed phrase in my real sparrow account got swept. lost a full bitcoin as you can see in that address at the top

StatisticalMan

Yes and OP has likely seen this hundreds of times. Everyone who gets burned like this gets burned because they try to outsmart themselves. Anything online and digital has so many magnitudes higher attack surface than an analog offline only seed (i.e written on paper or metal only). Many many many magnitudes higher. It is just a massive increase in risk. With crypto it only takes one mistake, one lapse, one malware and it will be gone instantly. DO NOT STORE YOUR SEED PHRASE IN ELECTRONIC FORM. NOT IN AN EMAIL. NOT IN A PASSWORD MANAGER. NOT IN A TEXT FILE. NOT IN AN ENCRYPTED TEXT FILE. NOT IN A PHOTO. DO NOT STORE YOUR SEED PHRASE IN ELECTRONIC FORM. Use a hardware wallet. Get in the habit of only storing your seed phrase offline in analog form and only entering it directly into the hardware wallet. Never enter the seed phrase into any app or website even if you are "sure" it is legit. Doing all of that creates a very powerful mental and physical firewall. The attack surface decreases by many orders of magnitude.

cienfuegos__

I'm sorry to hear it, but it can't be said any clearer: DO NOT STORE YOUR SEED PHRASE ELECTRONICALLY. You stored it in your email and thats what was compromised.

JnyQest

Everyone who has been screaming cycle cycle cycle is a 12 year old at best... lol... the past will never be the future again... if BTC IS A STORE OF VALUE.. buy when you can... hold for as long as you can...

SadGuru-

**WHAT IS BITCOIN -** https://youtu.be/IQHLpdWvyK4?si=TlPHlAR69AaJ9qDB In simple terms - https://youtu.be/41JCpzvnn_0?si=xf6OKidct1gx47iU **BITCOIN MINING -** https://youtu.be/BODyqM-V71E?si=pICeVFnLQ8NB1FDS **BITCOIN HALVING -** https://youtu.be/Ye9ckbN_lqc?si=T1V3w0FjdD_XbAox https://youtu.be/rT3szqSykVU?si=KYRvRAmiOw29YOsu https://youtu.be/OVCIhBEqgNE?si=BM3KXb425vZcnOAl **WHY BITCOIN AND WHY NOT ALTCOINS -** https://youtu.be/dO486Gfw9ds?si=CnMO6QVMHukuyGZV **NOT YOUR KEYS, NOT YOUR SATS -** https://youtu.be/opCOevmJAko?si=639clpoZ5EZTpPtf **HOW TO SELF CUSTODY -** https://youtu.be/z3n1uZrNvXo?si=_hJnOWFwQMuOu89K **STORE AND USE BITCOIN -** https://youtube.com/playlist?list=PLPQwGV1aLnTtAmzmz6uVE0kTKXtaGX1zY&si=J4hbumJ1uWWwkNwQ **BITCOIN TRANSACTION FEES -** https://youtu.be/GN6PmCqFikw?si=DQomg4JmDvPBt6Xw **CAN BITCOIN BE HACKED/BANNED -** https://youtu.be/AdqGXeCmit4?si=7P3e6xxN7SvLAPim **51% ATTACK -** https://youtu.be/ncPyMUfNyVM?si=cYz22NYhmh5JykY5 **OTHER RESOURCES -** https://youtu.be/5JDrK7sP3gA?si=yZ6OU5hhK4yf7Fer https://youtu.be/MMPxSdT013M?si=7DXQA5T2Cy0dbJ6p https://youtu.be/_0NOJhTy4MQ?si=s5sfLQUuCo7b9Ghe https://youtu.be/Vfq7LNDCdNQ?si=aq5Vn7Gu0zoD-qk6 https://cointelegraph.com/news/bitcoin-only-buy-and-hold-investment-strategy-outperforms-altcoins-over-the-long-term-analysis-shows https://blockworks.co/news/can-blockchains-beat-bitcoin-security https://bitcoin.org/bitcoin.pdf The Bitcoin Standard: The Decentralized Alternative to Central Banking (Book)

OlderAndWiserThanYou

> the purpose of Bitcoin doesn't change whatever the price of Bitcoin Ah what? This Bitcoin's (BTC) purpose is STORE OF VALUE, so the price does seem to matter. BTC now just the hooker at a frat party. There's no "deeper meaning" here. That's now elsewhere, if anywhere at all.

Remarkable-Lock7949

I'd say read up on how wallets work, and make some good decisions about how to STORE the cryptocurrency. It's stored in a digital wallet, and online wallet services that you can log into or exchanges aren't always the most secure place to store it. Remember that cryptocurrency transactions (sends and receives) are not reversible and it only takes 1 successful "send" that was malicious for you to lose all of it. Make sure whatever wallet you choose - YOU are in control of, and that you encrypt it and ONLY you or your husband have access to the encryption keys. Make sure it's backed up in a safe location where you won't lose it, and NO ONE but you two have access to it. There's so many crypto scam posts on here, spend some time reading about how it all works, and you're good.

Constant-Ad-4172

Bitcoin will keep on rising. It is a STORE OF VALUE. Get rid of your debt, then come back to Bitcoin. Wish you the best bro 🙏🏻

Constant-Ad-4172

In a short period of time, yes, BTC is quite volatile. But if we are talking long term, say 5-10 years, It performs MUCH better than gold and is a better investment. The way you have set up your portfolio is quite good. You are maximizing profits yet remaining safe and not exposing yourself to too much risk. Nothing wrong with liking shiny things. I like em too! But when talking about assets and money, you shouldn’t take into account their visual properties. Visual properties have nothing to do with STORE OF VALUE and therefore this post. This is what many people in this comment section don’t understand.

Constant-Ad-4172

1. I never said it has no uses. 2. I said it is not a good STORE OF VALUE compared to bitcoin. 3. Follow the discussion. You are making the same exact point as others. 4. I love fast cars. I wouldn’t use them as a STORE OF VALUE tho. 5. A gold watch has value that is assigned to it by its owner. But this is not the value I’m talking about. 6. I’m not back tracking. You’re not understanding my point.

Constant-Ad-4172

You’re still not getting it sir. Like I said, gold has many uses and might even have many more in the future. But this does NOT make it a good STORE OF VALUE. Bitcoin does a better job at being a store of value which is very important for our economy to work. Bitcoin in itself has no value at all, but in a large community when used as a store of value, it is perfect. It does an amazing job of storing value across time and space.

enterusername34

Invest in yourself so that you become valuable and useful to the people around you. You are the asset. Any extra money you make you put into bitcoin to STORE your value. If you have no value, you have no bitcoin. There is no free lunch.

Left-Paper-4074

BTC IS A STORE OF WEALTH! Similar to Gold but better If you spend btc daily you’ll be like The Imfamous Pizza guy with no Lambo hookers or Beer!

benjaminchodroff

This is the way. Don't look back - you're still early. Make sure you invest in a hardware wallet and STORE YOUR SEED PHRASE OFFLINE IN A SECURE LOCATION. Also, ensure you use a password manager such as Bitwarden with unique and strong passwords for all your accounts and enable 2FA TOTP for everything. \*\*DO NOT PUT YOUR SEED PHRASE IN THE PASSWORD MANAGER\*\* don't share it with anyone, but do document a succession plan for a loved one. Other than that, enjoy the ride. Welcome aboard.

insanescv

k. repeat with me. electronic STORE of VALUE. that is what btc is. n00bs always tryna make things their not.

BackgroundPangolin42

This a STORE of value. Not a short term thing. I funnel all of my earnings into bitcoin and just forget about it. It’s a hell of a lot better than keeping it in fiat and watching it lose value.

maynardstaint

Completely incorrect. Btc is a speculative asset. It has lost 90% of its value multiple times. THATS NOT A STORE OF VALUE. That is a wildly volatile speculative asset.

Dazzling_Marzipan474

Read The Bitcoin Standard. People try to overcomplicate things. It's just MONEY that is decentralized and a STORE OF VALUE. As opposed to fiat CURRENCY which DEPRECIATES and is greatly manipulated with hidden taxes called inflation.

Beginning_Emu_845

WHY STORE IT ON A COMPUTER! EVERY APP/ WEBSITE SAYS WRITE IT DOWN, NOT ON A COMPUTER OR PHONE. Sorry to see another one lose a lot. like in real life do not take a handful of cash outside in the open, for everyone to see... well he did just that, and got mugged.

LatinumGirlOnRisa

if it's true, if he's not a scammer himself who's been playing the long game [because, he might have fans/a following/defenders but how was it confirmed he really lost 50k worth of crypto?? because that is a COMMON scam as well because grifters know there's always a segment of the community who will believevthem..ALWAYS.. and many grifters are *very* convincing over the long term & they also know how to create convincing files to make it LOOK like funds went out so their defenders can have 'proof.' some of them have also done this repeatedly, even without changing their public name..but definitely there are name changers, too but who don't actually always change their appearance! and that guy, he's supposed to be an *experienced* crypto influencer?? and no doubt he DOES have defenders, believers who will donate to his cause which scammers count on. because there are always such people who are not careful, are susceptible to the cult mentality and they will always *lose their minds* whenever there are even reasonable concerns about their favorite coin or influencer.😐 but otherwise?? that kind of cautionary tale is EXACTLY WHY the SECURITY STANDARD IS to NEVER STORE YOUR SEEDS, PRIVATE KEYS in DIGITAL/ELECTRONIC FORM ever!!🙄 but this guy did exactly that?

CorruptedCube

Not fully agree, but I do agree that people need to realise that they should own their coins. STORE YOUR COINS ON A WALLET.

Umpire_State_Bldg

Then: **WARNING**: DO NOT STORE BITCOIN ON OTHER PEOPLE'S EQUIPMENT. *Not your keys, not your Bitcoin.*

Boddis

God damn, not safe in CEX wallet, not safe in Hot Wallets, Cold Wallets not safe anymore. WHERE CAN I STORE MY CRYPTO WITHOUT THE FEAR OF BEING RIPPED OFF

petragta

It’s Zeus on THE APP’STORE ?

BitcoinSavesUs

This is the worst arguement ever. Bitcoin does not STORE energy. It uses it, lots of it.........A battery stores energy, I can get the energy back out. Stop it with this comparison.

clue5tick

I clicked on the link. The Title of the YouTube video is: *THE VALUE OF THIS CRYPTO GROWS IN YOUR WALLET EVERY HOUR!!! THIS ALTCOIN IS THE REAL STORE OF VALUE!* It's the Crypto Bastard one-karma Army, posting their shitcoins.

TracerWG

RAAAAAAAH IM NOT JUST BUYING A GAME IM BUYING THE WHOLE STORE! MOONS TO THE... wait a minute...

HavocMMA

settling a transaction doesn't necessarily entail the delivery of the product or the service for currency. It requires the seller of the good/service to hold money, not a promissory note to value, or a trinket that can be exchanged for money in the market (like a cigarette) using prison or POW camps are not good examples because they are very specific contexts, where holding wealth is less important than currency= in prison your future is secured, in a fucked up way, but day to day you are still precarious. anyone sane in prison is thinking in terms of cash, not cigarette wealth. cigarettes are simply a way of coping day to day. cigarettes are currency, they facilitate transactional activity but DO NOT STORE WEALTH. by their very nature, cigarettes can be inflated (they are mass produced and anyone can roll one) you put up with currency, but you are only satisfied when you receive money, because currency per se could lose its value, not be accepted. money will always increase in value I can accept monopoly money, if I can redeem it right away for legal tender, but I want to get rid of it asap, because its an inherently worthless token. what horrified me is the realisation that we are trading promissory notes, and not money, thus no transactions truly get settled: we are simply trading IOUs for actual things of value. if something obtains its value from something else, its known as a derivative product. we are essentially forced to trade derivatives products that used to be proxy of gold, silver, money essentially, then the underlying asset was removed, and now we are basing a whole economy on worthless derivative tokens you could argue that because sellers are not being paid with actual money, but promises to money that can never get redeemed, we are essentially scamming productivity out of people, and the way it all works is that we get scammed ourselves in return when we sell our services

LifeReboot___

No, unless there's a REAL SAFE WAY TO LET AVERAGE PEOPLE STORE THEIR CRYPTO THAT REQUIRES NO TRUST.

tied_laces

Crypto wallets DO NOT STORE CRYPTO. They store keys. They are a convenience to the seed phrase which should be kept safe If you lose the phone, you just restore the wallet. Crypto always sits on the blockchain

Striker37

I use LastPass’s emergency access feature and told a close friend how to request access. In LastPass I have instructions on how to find my seed phrases, which are hammered into a titanium plate in my house somewhere. NEVER STORE YOUR SEED PHRASE ONLINE Even in an encrypted password manager.

forlotto

I surely ain't in this to buy something that everyone else is buying at the moment its a finite "STORE OF VALUE" its not important to me that the volume is low really at the moment that is subject to change I simply like the new mobile wallet and the ease of use.

fatlever2

> Are all these clowns destroying their ledgers really this oblivious to how computers work? Do you not understand the whole point of hardware wallets? Do you not understand the new vectors of attack this opens up? The entire point of the hardware wallet is complete isolation of your private keys in the hardware wallet itself. - The private keys NEVER leave the hardware wallet, they only sign the transaction - EVEN if the hardware wallet is stolen, the private keys are encrypted so the thief won't have access to YOUR private keys NOW: - pay us $$$ and we can STORE your private keys for you in the cloud. - YES, the keys are no longer isolated and only stored in your hardware wallet but in encrypted shard across multiple *"trusted"* parties - Hacks of emails and social engineering are real. New vector of attack possible where hacker can access your accounts, personal information and may retrieve your private keys to accounts impersonating you - A large percentage of of the high profile hacks are done by insiders. New vector of attack possible where insiders at ledger and/or third party employees collaborate to steal your private keys which they would have access to

meparadis

So people use third party softwares to stock their password and gets mad because their passwords got hacked? Alright.... The MOST BASIC THING with self-custody is to NEVER TELL or NEVER STORE YOUR PASSWORDS ONLINE. Simple as that. Ledger offered a third party to store your passwords, only if you want.

East-Performer7586

1. STORE OF VALUE 2. Lightening network

comfyggs

Wtf are you talking about LOL. APP STORE?! 🙃🤣

grndslm

Since you're referring to security.... 2 of 2 requires you to STORE two separate seeds (*each* in 2 or ideally 3 separate locations, in case someone intentionally or accidentally uncovers / removes / discards just 1 seed plate) which makes the likelihood of a thief recovering both seeds non-zero. Whereas with a user-generated, non-dictionary passphrase added to one seed that is stored in 3+ locations..... absolutely NOBODY can recover the funds other than myself, even if they find my seed plate. My key exists only in my mind and is something I will never forget, unlike a grouping of 24 random words. Can I remember 24 random words that are given to me by another entity or application? Sure! But will I undoubtedly remember them all, exactly, in the exact order, say, 3 years from now?! I'm not going to risk it!! Bad security practice, IMHO. Passphrase of my choosing > an EXTRA set of 24 random words that I *also* have to store in multiple locations, entirely separate from the first set of 24 words.

gorillalifter47

Great comment! Just to piggyback on this, I would stress that the whole process is very easy. I put it off for so long thinking the whole idea of setting up a hardware wallet and moving crypto around would be a really complicated and stressful process. The whole thing (including setting it up, sending a test transaction, factory resetting the whole thing and setting it up again to see that my BTC was still there) took maybe an hour, and most of that time was because I was doing everything slowly and carefully to make sure it was right. I reckon if I had to go through the process again now that I am more confident it would barely take half an hour. Just MAKE SURE YOU WRITE DOWN YOUR SEED PHRASE CORRECTLY AND STORE IT SOMEWHERE SAFE! If you lose your hardware wallet or it stops working but have the seed phrase you are fine.

BouchWick

I wrote two papers with my seed phrase. One I kept at a safe spot at home the other one I kept in a safe in a bank. NEVER EVER STORE IT ON PC

FairBlamer

>How is sitting on a pile of risk-free cash and earning a return off of it good for the economy? You are straw-manning. Look up that term please if you don't know what it means. Let me be very clear. YOU are the one who is assuming that all of society will just collectively decide to DO NOTHING because they will stupidly believe that the value of their bitcoin will GO UP FOREVER without doing any work. I AM THE ONE explaining to you that this is NOT what society will do, because it DOESN'T MAKE SENSE. Just take a MINUTE to think clearly about this please. It's not hard. If you have to choose between EATING FOOD or HOLDING BITCOIN, which one will you choose? This isn't hard. >No one presently wants to even spend their bitcoin because everyone assume it will moon, or you bought it and are sitting on it at a fiat loss. If no one is spending it now, what incentive is there for merchants to even accept it? Yes. Key word: PRESENTLY. Please read the essay I recommended above, as it directly addresses this question. It's also just a great read! You will probably enjoy it. >Thus, they are able to bid up housing units while leaving everyone else behind. Yes, you're on the right path here. But now stop and ask yourself: WHY? Why do they bid up housing units, specifically? What is it about houses that interests them? We already established they have no interest in actually LIVING in those houses. They just buy them. So why? Is it just for fun? What makes them want HOUSES SPECIFICALLY? This is the point. Houses are scarce. Houses therefore have a MONETARY characteristic that other things don't. So what is really happening is that these rich people CANNOT rely on their MONEY to protect their wealth because it LACKS the MONETARY characteristic of storing value over time. Therefore, they MONETIZE other assets that are NOT MONETARY ASSETS but which have this MONETARY quality of protecting wealth over time. Therefore, they are turning houses into money. We do not want houses to be money. It is bad that rich people feel the need to use houses as money. Do you understand why that is bad? Houses are things people need to live in. Wouldn't it be great if people DIDN'T need to hoard houses because their MONEY already has the quality of storing value over time? >You're investing your money into cash producing assets. This requires actual effort both on your part to identify good investments and the underlying business. If you loan your money to someone, you are assuming they will be able to generate future cash flows to pay you back. If I can earn a return off holding cash, that incentive to loan my money out is gone. You're so close! It's not that your incentive to loan money is GONE. Wrong. It's that you now NEED an incentive to loan your money. Previously, under a fiat system with artificial inflation, you have an incentive BY DEFAULT because your money LOSES value over time automatically. Therefore, your money is actually not a store of value. It does not STORE the VALUE that you have already generated for society. Instead, it erases it. So, with fiat, you have an incentive to TAKE HIGH RISK and go GAMBLE away your savings on random pointless things. Your incentive is to MONETIZE precious resources that people NEED to survive. Under a sound money system, people will still loan money to each other. (Check the thousand year+ history of the gold standard.) The difference is that they won't gamble it on STUPID CRAP. They will realize that in order to loan their money out, they better get a good return on that money to justify parting with their hard earned savings. That is not a bad thing. It means intelligent investing, not pointless gambling and rampant shitcoinery.

jwz9904

print it on a metal plate and store it out of sight. ​ DO NOT STORE IT ON A DIGITAL FILE.

XCaliber_ATCC

Put all your fiat into a [reliable] stablecoin. Transfer said stablecoin fully to cold wallet (NEVER STORE ON EXCHANGE). Transfer little by little to an exchange and convert back to fiat based on however much fiat you’re allowed to withdraw to your bank based on time/amount constraints. Continue transferring stables to CEX and converting to fiat before sending to bank over the course of X amount of time until you get all your money. This is the way.

Spartan3123

Yeah I have multiple, if your house burns down and you have one at work you can create a new wallet and transfer the funds. DO NOT STORE YOUR SEED ONLINE. I also have uninitialized ones to transfer the funds to

Glad_Investigatorr

I will like to share my vision about this, which is : Bitcoin being the first that drops when a crisis appears is due to the fact that lots of people still don’t understand his main scope, which is STORE OF VALUE. Because people don’t understand it and they are still addicted to make instantly tons of cash, they treat it as a gamble and most of them lose their money and cry on the internet. Yes, it’s trash if you don’t understand it and as long as you still refer to it in cash (FIAT), you didn’t understand it. 1 BTC = 1 BTC

jesuzombieapocalypse

Yea, ngl seeing all the “I got scammed because I was lazy, don’t let this happen to you” posts on this sub definitely had a big role in me buying my cold wallet… although an unsettling amount of those posts were “I took a picture of my key and kept it on my cloud, how did I get hacked!?” Like damn, I feel for you but ffs DO NOT STORE YOUR KEYS DIGITALLY!!!

MiceAreTiny

This is very stupid. Do not ever let your seed phrase touch a computer or the internet. You are using an international cloud hosting service, for gods sake... It would be safer to put your seed phrase on a post it note on your desktop screen. I repeat: Do not ever let your seed phrase touch the internet. yada, yada, yada, it is encrypted... Get your coins to a new address generated from a new seed. Write the seed down ON PAPER WITH A PEN, and store that. Or carve it in metal for higher durability. DO NOT STORE YOUR SEEDS ONLINE.

MsVxxen

Not at all. Just what is happening-and not what happened once upon a cherry picked time period (yours evidently), in an irrelevant time frame. Pull up a chart and see. Stores of value STORE VALUE. *Bitcoin is a highly speculative asset, not a "store of value".* Stores of value NEVER lose 70% of value in a year, NOR do they run negative year after year. Inconvenient Truths to the hopium hodlrs.

C_J_King

Seriously… I think captions could easily be different. It’s a STORE OF VALUE It’s INFLATION PROTECTION Look at EL SALVADOR! All the while, slowly becoming the lonely man on the hill. Hell, even Michael Saylor is selling. Bitcoin is the Netscape of blockchain.

yolo_brick_bowl

Get a trezor. Generate a seed. Stamp in metal. Use the seed like your bitcoin account name and create a 25th word in a password manager like lastpass. Use the new 25th word based private key for storing your funds. NEVER STORE THE METAL KEYWORDS AND THE 25TH WORD IN THE SAME PLACE. That's it. You can have backups of both. Just never together. Never stored in a way where they could be put together. Anyone can see your metal keywords. Won't matter without the password (25th word). Someone else could see the 25th word. Wouldn't matter without the metal seed words. Store one physically and the other virtually. You're good to go.

PNW4LYFE

Metamask is an important tool for connecting to web3. But, it is not a hardware wallet. DO NOT ATTEMPT TO COLD STORE ETH OR ERC-20 TOKENS THERE. Literally the antithesis of what you were asking in this post.

Brief-Access-1846

They’re not doing anyone a disservice. You think of currency as a medium of exchange only, but you’re forgetting the 2 other properties of money: unit of account, and most importantly, STORE OF VALUE. I work and spend my time to earn money. That money represents my hard work. I want to save that for the future, not be destroyed by inflation or expiration. I earned it, why would it expire? And there is no disservice. People can still invest. Bitcoin doesn't replace investments. Bitcoin is savings, it’s a different thing. Bitcoin doesn’t provide cash flow, like a solid investment. Bitcoin just is, you can use it, you can hodl it. And if you find a worthy investment, you’ll give your bitcoin to generate more of it in the future. But creating a sucky money just so people invest in anything, creates all those risks and scams we’ve see the last 50 years, with Bernie Madoff as an example and the subprime mortgage crisis of 08 as the cherry on top.

ocearizona

You can safely buy crypto. Just use the exchange for what it is meant for. To BUY, not "TO STORE".

Plane_Baby

The exchange or third-party is taking your money. They do not show that transaction on chain For example, if you purchase Bitcoin or an altcoin on Coinbase, you will see on the Coinbase exchange that you have X dollar amount of BTC or X token. Remember, you are seeing this on their internal database, in your account. In In reality, queen beds did not have to purchase any Bitcoin or altcoins. As long as they show it to you on their account, which means, Coinbase owes you X amount of Bitcoin or altcoins. As long as you stay in the platform, (meaning not sell or transfer to a wallet or off the platform) Coinbase basically is giving you an IOU. "I owe OP x amount of dollars or coins, depending on what you want to redeem in the future." If you leave your money on Coinbase or a random exchange, they are able to use your money to lend out for yield, operational cost, and other things. This process is similar to the banks. Go back and look at history with gold and how banks used to store gold for its customers. There were constant runs on the bank, meaning people would go to redeem their gold, but to only find out the bank did not have enough. **Side note on lending** Companies like Blockfi, SALT, and Nexo, to just name a few are examples of lending services. What many of them do is take a customers crypto, which is sent onchain, meaning from customer's wallet to the company. The company will then send money to the customer and give them a portion of what the crypto is worth. The company is able to rehypothecate (lend it out to others, trade it, make fractional reserves, basically play around with) it in different ways to make money. This is where a majority of the risk comes in. Many of the companies lend the crypto to organizations such as Three Arrows Capital, as an example, they would basically gamble it away by trading it on leverage. Thus, you rest losing the crypto that you lend it to these lending companies. **Onchain transactions** The reason people say not your keys, not your crypto is related to my example above with Coinbase or any exchange, You were not receiving anything with the exception of a promise to redeem your money for crypto or Bitcoin in the future. You must go back to Coinbase or to the exchange before you can touch your crypto or Bitcoin. However, let's say that you purchased X amount of Bitcoin on Coinbase, they will credit your account for X amount of bitcoin. You transfer that Bitcoin to your hard wallet, at this point, a transaction will be made on chain. You Will be able to see on the Bitcoin ledger Bitcoin moving from Coinbase wallet to your Bitcoin wallet. That will be the only time you will see it on chain. >You're the only one with keys/seed phrase< Once you set up your wallet, you will be given a seed phrase, normally 12 to 24 words. This will be your private keys. NEVER SHARE THEM WITH ANYONE. NEVER STORE THEM ONLINE. There are both public and private keys. Your public keys will help Coinbase or any exchange be able to send money to your wallet location. Mostly, whenever you see a QR code asking for crypto or Bitcoin (on scam YouTube videos) That is the public key.

bootstr8

Reddit spends a week telling everyone "COLD STORE" then is surprised when lenders start tapering withdrawals because they're lending your crypto to make yield.

Double-LR

Yes the hole entire point of HW is that it is only a tool to access your funds. Your coins are not actually on the device, they never will be. Recovery is the entire purpose of a hardware wallet. I have a T1 and it is easy to use. Make sure you pick a wallet that supports your coins whatever they are. Most good wallets support a lot but check to make sure so you can actually use it. It will take you five minutes to set it up, 15 minutes to write your seed down and check it and 5 minutes to move your coins depending on how many you types you have to move. NEVER TYPE YOUR SEED IN A PC OR ANYWHERE. NEVER SHARE SEED. DONT STORE SEED DIGITALLY EVER ANYWHERE. TEST TRANSACTION PROCESS WITH SMALL AMOUNT FIRST. BE YOUR OWN BANK. It really is easier than it seems. Read the FAQ here in the sub to learn more. DYOR AND LEARN!

jesuzombieapocalypse

Also on the subject of keys, I see way too many “I got scammed” and “I lost my keys” posts here with people saying they took a pic of their key and kept it on their cloud. DON’T STORE YOUR KEYS DIGITALLY Paper, or if you’re hardcore etch it on a metal plate yourself, but whatever you do, don’t take a digital picture of it (I guess Polaroid’s ok lol). I don’t even let me keys in sight of a camera even if I’m not taking a picture just in case. If you store that picture and your files get compromised one way or another, you’re screwed.

Wrong-Level-5308

Create a bitcoin paper wallet, send all your bitcoin in there, make 5 copies of the paper DO NOT STORE ANY DIGITALLY and put them all in plastic spread in some places you know you are in constantly, a few places in your home and maybe one hidden deep in your car That's how I go about storing my Ethereum and Angelblock and other NFTs, basically anything working on ETH i have that paper wallet

Burrito_Loyalist

I don’t get why people get upset over Apple’s cut. It’s the APPLE STORE.

m1DiatA2xy

I know how to solve the problem and if you want the solution I want some Doge as payment. Just kidding. I'm so funny right? ALL YOU HAVE TO DO IS UNINSTALL THE APP AND REINSTALL IT FROM THE PLAY STORE OR APP STORE. Just happened to me and that's how I solved it.

Accomplished_Ad_6708

Yea I don't know what you're talking about. If you have your ear to the ground and can tell where markets are headed (gaming and metaverse/meme coin/new private sale projects) you are VERY likely to find a 100x crypto. What it comes down to is your tech savvy and due diligence skills. Listen, I'm a BTC maxi myself. I believe Bitcoin is the future. All others pale in comparison to its simplicity and genius. But some humans do not have the ability to buy an entire BTC and even if they just bought a few sats, in 5 years they may get 15x if they're lucky. There ARE opportunities to 100-1000x your bags elsewhere. So stop telling people there aren't. I always recommend to the altcoin degen (myself included) to take profits and STORE your wealth in BTC. Best way to avoid taxes.

CBJ_TechGov

There are two types of bitcoin, (1) on-chain bitcoin, and (2) off-chain bitcoin. Presently, it appears that exchanges, like Coinbase, are engaging in the practice of selling non-existent bitcoin (i.e., off-chain bitcoin). What that means is that Coinbase does not have a real, on-chain bitcoin (i.e., a bitcoin on the blockchain) in Coinbase's on-chain wallet to back all their customers bitcoin positions. This practice effectively increases the supply of bitcoin on the market and gives exchanges massive control over market price. I pulled the Coinbase Q2 2022 FORM 10-Q and did a bit of analytics and it appears that Coinbase customers have been sold around 2,000,000 off-chain bitcoin. If accurate, that is huge. In fact, I believe the above practice is the precise reason bitcoin price has dropped so drastically over the past year. This is a big deal and must be addressed. However, the anarchist in the bitcoin community will never ask for the government to intervene and require exchanges to back off-chain bitcoin positions with actual on-chain bitcoin on a 1 to 1 basis. If this problem is not addressed, bitcoin will no longer be a safe place to store value. Don't forget, bitcoin is ONLY a STORE OF VALUE.

JohnMaddn

I'm a btc owner but holy fucking lol, wake the fuck up **IT'S NEITHER AN INFLATION HEDGE...** **NOR A STORE OF VALUE...** ***IT'S A FUCKING PEER-TO-PEER ELECTRONIC CASH SYSTEM.***

Castr0-

You maybe missed some classes about marketing. Giving away for free something is a way to keep people in. See EPIC GAME STORE example.

Tall_Run_2814

NEVER STORE YOUR SEED ON AN ELECTRONIC DEVICE. The entire purpose of a Ledger is that it is air-gapped meaning it is disconnected from the internet. The second you type your seed into an electronic device you're compromised. Buy a fireproof safe and store your seed in it.

natedVulnerability

The paper "money" is a currency. Gold & Silver is money. The difference between currency and money is that the money is a STORE OF VALUE (for a long period of time/ centuries). The currency is subject to inflation & deflation, so it changes its value over time.

SecretCryptoAcct69

But where will he put them? Will they fit in the back of his car? A storage locker? WHERE TO STORE ALL THAT COIN??

Miserable_Motor2196

I'll just leave this right here... #Amp $amp #token #spend #spedn #ANY #crypto #cryptocurrency #cryptocurrencies AT THE #STORE #the #future #is #now #flexa #agnostic #digital #payments #PoweredByAmp #PayWithFlexa

NegativeKarmaProfile

Market dynamics are the same Blockchain has so many uses Bitcoin is STORE OF VALUE haven’t you read Satoshi’s paper?

Apprehensive_Total28

no you were in early on a speculative asset A store of value, should STORE your value.. especially during economic downturns

RancherosIndustries

Why do I need a hardware wallet? The way I understood is, my wallet is just an address and a password. I do not STORE anything there. The blockchain documents all transactions and determines how much BTC has been sent to that address.

cryptoboosie

Alt coin was made to take your Bitcoin. Bitcoin was made to take your Fiat. The real STORE OF VALUE, is the knowledge of knowing when to jump ship to ship.

Castr0-

I think that one thing i can take my hat off is EPIC STORE is doing something. Offering games, Improving the store, adopting crypto. I just hope this come for the best of crypto games because is a area that could bring more people into crypto and adoption.

stikonas

This has something to do with Trusting Trust attack. See original paper by Ken Thomson: [https://www.cs.cmu.edu/\~rdriley/487/papers/Thompson\_1984\_ReflectionsonTrustingTrust.pdf](https://www.cs.cmu.edu/~rdriley/487/papers/Thompson_1984_ReflectionsonTrustingTrust.pdf) I.e. let's say you want to run bitcoin. How do you (or even bitcoin developer) know that it's not malicious. First we have to check it's source code and see if there is anything evil there. But even if everything looks fine, computers do not run human code (e.g. written in C or some other language). You need to run your source code past a bunch of tools including compiler. So then the question is how do you trust your bitcoin binary. Maybe your C compiler injected something evil into it. Well, you can look at compiler's source code but then again, you actually run compiler binary and not compiler source code. Maybe your compiler binary tries to detect that it is compiling the compiler and backdoors it. That way backdoor will only be present in binary code and never in source code. You can solve this by bootstrapping. I.e. build everything from as small binary seed as possible. Hopefully small enough that human can go over it and check it manually. **stage0-posix** is a project that starts with 357 byte hex0 binary and 757 byte kaem binary. kaem is a trivial shell, so it can run other commands. hex0 language is basically well commented machine code that can look like `# :_start ; (0x8048054)` `58 # POP_EAX ; Get the number of arguments` `5B # POP_EBX ; Get the program name` `5B # POP_EBX ; Get the actual input name` `B9 00000000 # LOADI32_ECX %0 ; prepare read_only` `BA 00000000 # LOADI32_EDX %0 ; Extra sure` `B8 05000000 # LOADI32_EAX %5 ; the syscall number for open()` `CD80 # INT_80 ; Now open that damn file` `A3 55810408 # STORE32_Absolute32_eax &fin ; Preserve the file pointer we were given` So hex0 converts this type of code into machine code (by stripping out comments and combining hex letters into single byte, e.g. "58" becomes byte with value 0x58). Then it goes on to build more advanced tools, hex1, hex2 and finally a simple macro assembler M0. The next stage is cc\_x86 compiler which is a subset of C compiler written in assembly. Finally stage0-posix builds M2-Planet (subset of C compiler written in C). Finally stage0-posix builds a few useful tools like untar. ungz and sha256sum. **live-bootstrap** builds on top of stage0-posix and keeps building stuff until we reach GNU C compiler and beyond. You can find the components that it builds here [https://github.com/fosslinux/live-bootstrap/blob/master/parts.rst](https://github.com/fosslinux/live-bootstrap/blob/master/parts.rst) All binaries are built reproducibly and always have identical hashes. Now this excludes Trusting Trust type backdoors not just in compiler but also in other tools such as shell, build systems, and other utilities. Except for the OS kernel. Both stage0-posix and live-bootstrap need Linux kernel to run on. So there might still be hidden binary backdoor in the kernel. live-bootstrap rebuilds linux kernel from source at some point in the sequence but it still needs one to begin bootstrapping. Here comes **builder-hex0** project that was recently announced and it is a very small (but also very slow and limited) x86 kernel written in hex0 language and stage0-posix can run on top of it. However, builder-hex0 can only run stage0-posix and can't go much further in bootstrap chain. So right now Linux kernel can not be build via builder-hex0 and Linux kernel still has to be trusted not to include binary backdoors. Still it's a start of kernel bootstrapping even if it's not complete (as the original post might be implying).

1entreprenewer

Jesus. So many things wrong with this. DO NOT STORE YOUR Bitcoin ON EXCHANGEZ. USE A NEW ADDRESS EACH TRANSACTION USE LIGHTNING. In summary, set up a Bitcoin Lightning node and set up a BTCPAY install with POS module and an iPad or something. Then people can actually pay and it’s secure and non custodial.

PrestigiousSuspect31

I don’t understand why people use economics to satisfy the value argument of crypto. Crypto has value through the energy it took to create it, which is electricity. This physics example provides the proof. Work= force X distance Force- electricity Distance- difficulty in Algorithm. Where Economics brings value to an ecosystem that has chosen said currency. Currency, itself CANNOT BE A STORE OF VALUE. Money is a store of value. Sorry for the tangent 😂 Physics brings value back to money so why in the world aren’t we using crypto.

ThrowRA7757

"Anything else follows the BTC price anyway" My point exactly. Why the fuck won't people accept that we all must flock to btc and save it and let the alt coin die off begin!! THE OG MUST BE IN EVERY STORE, EVERY WALLET, BEFORE OTHERS CAN FOLLOW

LovingSweetCattleAss

Make an account at an exchange with your email address and a solid password. Not sure where you are but it might be that you have to identify yourself with combinations of an ID and pictures of yourself holding a code. I am from the EU and I had to do that. After that you can usually buy BTC with your creditcard directly. Be aware of a couple of things: exchanges ask a fee for buying something with creditcard and could do so for withdrawal. And for each transaction you pay mining fees. There also might be a minimum withdrawal amount. I usually use Coinbase because they have very low withdrawal fee, the only thing is that the price I pay for BTC is a bit higher, but the price for using my creditcard is about normal. Maybe others have more info there. For storage I use EXODUS wallet - they have some good resources with info on how to use it. Coinbureau has some movies about wallets with links to the websites at YouTube Most importantly: MAKE SURE YOU HAVE THE CORRECT WEBSITE AND NOT AN IMPERSONATOR IF YOU GET A HARDWARE WALLET DO NOT BUY IT USED NEVER GIVE ANYBODY YOUR SEED PHRASE. ALWAYS STORE YOUR SEED PHRASE IN A SECURE LOCATION It won't hurt if you store it at multiple locarions

Still_Lobster_8428

You realise the point I'm making is for your 2FA seed key..... Not the 12 word seed key for the actual wallet.... Regardless, you first have to write them down SOMEWHERE when you 1st create the wallet (or 2FA). Where and how you store them past that point is entirely up to each person.... Or do these people expect that no one sets up a wallet or 2FA until you first order a metal plate and you stamp it as your setting up the wallet.... (literally no one has ever done that). Everyone sets up the wallet, writes down the seed key, THEN orders a metal plate kit and stamps it at a later date. What most people forget to record is the seed key for their 2FA code (as OP it seems is about to learn the importance of...) Personally, I have 3 notebooks with my seed keys and another 3 notebooks with my 2FA seed keys. 1 copy of each is stored in a fireproof vault, 1 copy of each triple vac sealed placed in a metal box and incased in 4 foot of concrete, the other 2 notebooks are my working copy. I create new wallets to interact with any new DEX or dapp..... I'd be punching metal plates relentlessly if that was the only option I used! Most of those wallets are throw away anyway once whatever it was interacting with has been proven to not be a scam/phishing, it will be moved to interacting with 1 of the 5 core wallets I have. Wallets a free and easy to make.... I never understood this fixation in Crypto of people only having 1! If you connect to a dodgie dapp.... There goes all the fund's you decided to hold in a single wallet! Diversification is key to reducing risk from a single attack vector! That's the whole point of crypto.... WE are our own bank and security and risk reduction are our own responsibility! Sure, punch your wallet seed keys and 2FA seed keys to metal! The point is STORE THEM SOMEHOW so that on the off chance you loose your phone say.... You can set back up your Authenticator on a new device by typing in your 2FA seed keys!

Miserable_Motor2196

This is the way #flexahq $amp token #Amp $amp #token #spend #spedn #ANY #crypto #cryptocurrency #cryptocurrencies AT THE #STORE #the #future #is #now #flexa #agnostic #digital #payments

Miserable_Motor2196

#Amp $amp #token #spend #spedn #ANY #crypto #cryptocurrency #cryptocurrencies AT THE #STORE #the #future #is #now #flexa #agnostic #digital #payments

Miserable_Motor2196

#Amp $amp #token #spend #spedn #ANY #crypto #cryptocurrency #cryptocurrencies AT THE #STORE #the #future #is #now #flexa #agnostic #digital #payments

TheBronx172

DO NOT STORE CRYPTO ON EXCHANGES, please invest about $150 in a ledger. As far as ETH if you are on the East Coast wait until about 2AM fees are low you can also check when is the best time and it shows average of Fees. That BTC if you could wait until you get a Wallet, cold wallet and move it there prices are dipping so this helps a little as well, wait for volatility to go down. I personally don’t leave any purchases on an exchange longer than 72 hours or my neck starts itching!! Good Luck Hodler

grndslm

https://www.nicehash.com/blog/post/what-is-ergo-(erg)-coin By coinbase, I mean the block rewards... Not the company. Funny that looking at that link, it appears that it you STORE your "money" on ERGO for a few years, the code will start to refund your "unused money" right back to themselves. This OBVIOUSLY makes it *not* a store of value.

ANGELINA__JOLIE

trust wallet i for shitcoins. ONLY AND ONLY STORE BITCOIN IN A BITCOIN ONLY WALLET. UNLESS ITS HDWARE WALLET

SomeBrokeChump

You can spend BTC over the Lightning Network. Basically; BTC -> $ -> GROCERY STORE as Jack Mallers demonstrates in the video below. https://www.youtube.com/watch?v=YTqCs6RY9O4&t=16s He just spent BTC from his self custodial Lightning Network integrated Bitcoin wallet.

Ghant_

In case anyone is curious >KYC: Kraken Binance Bitfinex >Non KYC: LocalMonero Morphtoken Bisq Kucoin Tradeogre Crypto ATMs see: kycnot.me >Mining archive.is/TWOah HOW TO STORE MONERO? >Desktop Official Gui/Cli My Monero Exodus Feather >Mobile IOS: Cakewallet Android: Monerujo

mycupacoffee

It's not about WHERE you buy Algo from, it's where you STORE it

Raikaru

You do realize a store of value isn't supposed to go up greatly in value? That's the whole point of it being a STORE of value

Vipu2

BTC drops a bit: GOLD IS STORE OF VALUE!!! BTC goes up 100%: All media quiet BTC drops a bit: GOLD IS STORE OF VALUE!!! BTC goes up 100%: All media quiet BTC drops a bit: GOLD IS STORE OF VALUE!!! BTC goes up 100%: All media quiet

Fat_thor_irl

OMGURRD CRYPTO COULD STORE MONEY & STUFFS, BANKS BAD MAN!!!5! Meanwhile those poor bastards are getting bombed and shot at while the world just watches.

Nozomilk

A replicated Bitcoin isn’t real bitcoin. I don’t think you know how forks work. You can’t send it to any Bitcoin address and claim it as “Bitcoin”. People are comparing BTC to Gold not because BTC is an element, people are comparing it to gold because it is a STORE OF VALUE. Or a HEDGE against inflation.

SkepticalDreams

Most people don't care about "decentralization" and "faster TPS" and whatever other altcoins try to offer. The main problem that we all need to fix is STORE OF VALUE because our savings keep melting away with INFLATION and other factors. Bitcoin is king when it comes to SOV. I believe that 99.99% of altcoins will be rendered obsolete by Central Bank Stable Coins. These stables coins will be used for daily transactions and "faster TPS" and whatever other BS altcoin creators try to upsell you on. And say 99.99% instead of 100% because we may still have niche users looking for privacy or other features. Fortunately, CBSC's can never replace BTC as SOV and neither can any other altcoins. I see a future where people save in Bitcoin, transact with CBSC's, and gamble with altcoins hoping for a moonshot. Why would I gravitate to \[insert altcoin here\] when I can transact with a stable coin, backed by my government? Sure governments are NOT trustworthy, but neither is your team of coin creators. I would't care about my government's stable coin being affected by inflation, because I wouldn't hold it long enough to matter.