How People Lose Their Bitcoin \ stacker news ~bitcoin

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How People Lose Their Bitcoin odysee.com/@TraderUniversity:a/how-people-lose-their-bitcoin:1?r=8T2xqWjtafHWYGxQBSsrbw1wQPm7sWRq

354 sats \ 9 comments \ @Undisciplined 9 Sep bitcoin_beginners

From Matthew Kratter's Bitcoin University

Video Description

In this video, I discuss the most common ways that people lose their Bitcoin, by leaving them on an exchange, accidentally sending them to a scammer, or sharing their recovery seed with a scammer.

I also discuss different cold storage solutions from single sig, to single sig plus a passphrase, to multisig.

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150 sats \ 1 reply \ @TheMorningStar 9 Sep

There was a link of the same video on youtube earlier without any description like you gave here. I didn't open that but after this description I can't hold me from watching it. Thanks!

31 sats \ 0 replies \ @Undisciplined OP 9 Sep

Thanks, I didn't see that other post, but it's good practice to include a description.

40 sats \ 1 reply \ @BTCLNAT 9 Sep

The saddest thing is not that it happened, but rather that it continues to happen. When I started, I was always warned that my seed phrase should not be given to ANYONE, I forgot the warning, I made a mistake and in a wallet error I wrote to supposedly support, they asked me for the seed phrase and puff. Thank God, it was shit coins, and I considered it an investment in education.

But unfortunately today people continue to fall for it despite all the knowledge there is. But it is good that you continue to educate people. Success in your educational projects as always.

0 sats \ 0 replies \ @Undisciplined OP 9 Sep

This is the downside of decentralized digital money. There's no official guide to how to use it correctly and no corrective mechanism, so people muddle through and make costly mistakes.

71 sats \ 1 reply \ @bitalion 9 Sep

It is a shame that many bitcoins have been lost due to these problems, the scams that are becoming more and more sophisticated and on the other hand the self-custody of the funds, which entails an enormous responsibility. Losing your seed phrase, or the passphrase, are things that threaten the very adoption of bitcoin technology.

0 sats \ 0 replies \ @Undisciplined OP 9 Sep

I completely agree. We will definitely need some further developments before most people can safely use bitcoin. It might even be that most people never do more than hold custodial bitcoin and use L2's for transactions.

107 sats \ 2 replies \ @grayruby 9 Sep

He forgot, joining stacker sports NFL survivor pool and picking the Bengals week one.

41 sats \ 1 reply \ @Undisciplined OP 9 Sep

That would have been pretty catastrophic.

56 sats \ 0 replies \ @grayruby 9 Sep

Kittle is out and Deebo is back in. Although I think this is going to be a Kittle game, I need to go for the hail mary here down by 60 points. Need a monster game from Brock, Deebo and the D to even get to respectable range.