R/Bitcoin: I am terrified to move my BTC \ stacker news ~bitcoin

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R/Bitcoin: I am terrified to move my BTC

289 sats \ 38 comments \ @User21000000 7 Feb bitcoin_beginners

I am terrified to move my BTC

Hello fellow BTC pro’s

I want to start out by saying I am sorry for this post. I have somewhere between .5-1 BTC sitting on an exchange. I’ve been DCA’ing for several years now. And I am absolutely terrified to move it off the exchange.

I know I need to do it. I see the constant comments about supply shock and the rapid removal from BTC from exchanges. I know mine isn’t safe where it is.

The problem is, I’m so scared to move it. I work in tech, and I’m still not comfortable moving it. Then to top it all off, I have the memory of a fish. I’m scared I’ll lose my keys.. even though I do have several backup plans for those.

Does anyone have any advice on how to get over this initial fear? I just can’t be the only one who feels this way…

Anyone who also faced this same issue want to share what worked to make you comfortable doing this?

Anyone who DM’s me is going to get blocked. I read this sub like the morning paper and I’m overly cautious of being scammed (outside of my BTC staying on the exchange)🤡

(OP on reddit. I will post a link to original post to show them what SN has to say!)

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127 sats \ 1 reply \ @Aardvark 7 Feb

I would start by moving a very small amount. The first time was scary for me because I thought i was going to screw up and lose it.

0 sats \ 0 replies \ @User21000000 OP 7 Feb

Yes great way to start. I did the same moved a small amount and then moved the rest

21 sats \ 0 replies \ @IamSINGLE 7 Feb

I move my BTC off exchange on a regular basis, I don't know why people get scared when they can start with very low amounts (for lack of confidence).

I also doubt that some people would make such idiotic posts intentionally.

128 sats \ 12 replies \ @DarthCoin 7 Feb

I don't know what to do, to cry or to laugh at this incredible idiotic post. Are these people jabbed? Is really so hard to make a bitcoin tx? Or people are dumbing down?

This shows the biggest problem in the world right now: individual responsibility. This is the example like the guy from BTC conference, they do not want to be responsible for their own actions.

21 sats \ 0 replies \ @flat24 17h

This publication reminds me of something that a hacker said that they exhibited in a direct @lunaticoin a while ago, but I remember bad was the direct 2140 ** "Hello, I'm your kyc" ** **

To summarize the story they expose a hacker who is dedicated to stealing people 👥 like that of publication, people with a lot of money in Bitcoin within an exchange. 🤦 People who are not able to do self -ocustody.

And the hacker says the following, and it is a phrase that is really present and recorded.

He said

"We dedicate ourselves to stealing these people, because in the world there are people who have Bitcoin and do not deserve to have it, because someone who has a lot of bitcoin and lets him take care of a third party, does not deserve to have it"

21 sats \ 0 replies \ @kepford 20h

This shows the biggest problem in the world right now: individual responsibility.

Amen! This indeed is a massive problem.

21 sats \ 0 replies \ @Aardvark 7 Feb

He's willing to pay 5% for a company to own 100% of his bitcoin. 🤣

0 sats \ 3 replies \ @itsrealfake 11h

on the one hand Darth, I want you to show some compassion

on the other hand, the post reads like the author collects figurines

5 sats \ 2 replies \ @DarthCoin 11h

Idiots will never have my compassion. You show compassion for somebody that is trying to prove his proof of work, not idiocy. This world is fucked up EXACTLY because of so many idiots in it.

0 sats \ 1 reply \ @itsrealfake 11h

show respect to people who are proving their work.

compassion is for the weak, unfortunate, and especially the feeble minded.

this post is coming to us from the land of liberal tears and late adoption. author is on the high-dive and you're calling him a pantywaste for having gotten himself up the steps in the first place.

yah, he shouldn't be scared of falling, he should grab his balls by the horns and read your guides.

and maybe he is a pantywaste, but he's not an idiot. he's frightened of taking the red pill.

5 sats \ 0 replies \ @DarthCoin 11h

0 sats \ 4 replies \ @User21000000 OP 7 Feb

I guess this is how big the knowledge gap is

0 sats \ 3 replies \ @DarthCoin 7 Feb

no. One thing is lack of knowledge and another thing is idiocy. Don't tell me that after years of accumulating BTC in a exchange that guy NEVER ever had the minimal curiosity to watch a damn video tutorial or read a guide. How much could take to watch a tutorial? 5 min? In several years ? Even if you dedicate only 5min/day, in 1 year you will have 30 hours of study of Bitcoin. In fucking 30hours you can learn a lot.

Come on don't throw me that bullshit. The guy is a total idiot that do not deserve Bitcoin. Bitcoin is Proof of Work. You must proof your work done in order to get bitcoin. He did none.

Bitcoin is not for the weak, only for the brave.

0 sats \ 2 replies \ @kepford 22h

They work in tech... This post sounds very pathetic to me. Install a few wallets and experement. Move a small amount. The problem is not knowledge with this person. It's their attitude.

7 sats \ 1 reply \ @User21000000 OP 22h

Very possible they are just playing the reddit game trying to get bulk engagement

0 sats \ 0 replies \ @kepford 22h

Thought crossed my mind. That happens often.

reply on another page

9 sats \ 1 reply \ @south_korea_ln 23h

(OP on reddit. I will post a link to original post to show them what SN has to say!)

You haven't been blocked yet my Reddit admins for linking to SN?

100 sats \ 0 replies \ @User21000000 OP 22h

Not yet . Trying to save some people over there

9 sats \ 6 replies \ @expatriotic 23h

I would recommend NOT moving off exchange.

Sell it back to them!!

Then take the proceeds and buy on bisq for UNDER market value for NON KYC bitcoins...

https://expatriotic.me/bisq

As for the fear, it just takes practice.

I'd recommend a redundant approach.

Open a wallet, then put that seed phrase on paper in a few places. Now that seed lives in AT LEAST 3 places hopefully, the wallet being one. BUT yet, no one can spend it with the seed phrase alone, because you SHOULD put a passphrase (think of it as a 13th word) and store that in your password manager (don't worry if it's online, it can't help a hacker if they don't ALSO have the 12 words you've sprinkled around).

Wallets like Sparrow Wallet for desktop and Ashigaru for android allow you to set up a wallet with 12 words and a passphrase (make it strong! 4+ random words) and don't rely on memory for anything.

https://expatriotic.me/acquiring

0 sats \ 5 replies \ @oliverweiss 23h

Sell it back to them!!

Why? Selling Bitcoin would be likely subject to taxes. Well depending where they live.

I would just send BTC through the LN to a cold wallet.

20 sats \ 4 replies \ @expatriotic 21h

Riiiiiiight. Don't sell now. Wait until one bitcoin is 10 million dollars in your cold storage. You want to buy something, but wait!! the exchange you used gave over the information about the 1 bitcoin you have and want their cut. They track the bitcoin. Oh! They can't find it because you coin joined and moved to lightning?? Okay then we'll assume you sold it all, now pay up.

Anyway, owning up to owning bitcoin is bad opsec... Exchanges are honey pots of information. Those lists get on dark markets. Get those sats OFF exchanges, but not by sending them, sell it back to them for denyability and then buy it properly.

https://nokyconly.com

0 sats \ 3 replies \ @oliverweiss 16h

First of all, the stacker wants to withdraw not sell. Secondly, if you pay your taxes based on assumptions of your tax office, then perhaps it is time to change your residence?

0 sats \ 2 replies \ @expatriotic 16h

Yes but withdrawing to avoid taxes is dumb... Because they still know you own it. What'd I miss... Tell me you didn't read this without telling me you didn't read this - https://nokyconly.com/

Also, I linked https://expatriotic.me/acquiring which is plenty detailed about wallets to use.

It's my recommendation for someone in the OPs position to sell back... Sorry if you don't agree. I've explained my position. Not gonna waste more time with you if you don't understand. I've got guides to write.

240 sats \ 1 reply \ @oliverweiss 15h

Oh, right, you are @expatriotic, the guy who writes guides. My apologies.

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10 sats \ 0 replies \ @dingding541 7 Feb

Europe has introduced the travel rule meaning if you want to move btc from exchange to non custodial wallet, you have to 'prove' it's your wallet by sending a nominal amount of sats to exchange and then after acceptance, they'll allow you to move it. Firstly the data scraping/knowledge/security issue and also reusing addresses. Another bureaucratic mess from the suits

10 sats \ 2 replies \ @dough 23h

Longest 10 mins of my life. Worth it though. Send test txs

9 sats \ 0 replies \ @nichro 18h

Checking every single address character, and once more backwards just to be safe

0 sats \ 0 replies \ @User21000000 OP 22h

I felt that

0 sats \ 0 replies \ @Signal312 10h

Wow, you folks are harsh!! I think this guy's experience is extremely common. There's wonderful information and tools out there, widely scattered in an ocean of FUD, scams and lies.

It can take a long time to understand.

0 sats \ 0 replies \ @itsrealfake 11h

you're going to want UTXOs of a variety of sizes.

send some small ones first.

at today's conversion, 100,000 SATs is about $100... so figure that's the size bill you're gonna be breaking in the future if you spend your bitcoin somewhere

0 sats \ 0 replies \ @gregtonoski 15h

The fear is normal. Get used to it. Tools are little intuitive and mistakes are commonplace. Don't rush, test, backup and share your experience to build knowledge and better tools.

0 sats \ 0 replies \ @TheBTCManual 15h

Lol newsflash we all are shit scared of moving out Bitcoin but the alternative of losing it is worse.

I guess some were lucky that moving half a bitty or more was chump change when we got started so you didn't worry about it back then, but now moving even 0.01 I'm sweating bullets lol

While that first confirmation wait is dreadful, the relief that washes over you once you hit 6 confirmations is eurphoric, you gotta take the highs with the lows

0 sats \ 0 replies \ @ChrisS 18h

Op, Go back to fiat. Bitcoin is not for you! If you cannot take responsibility for writing 24 words down and remembering and/Or backing them up then bitcoin is not for you?

0 sats \ 0 replies \ @iguano 21h

find yourself a hardware wallet check https://trezor.io/ is harder to lose your coin using a hardware wallet.

0 sats \ 2 replies \ @ama 7 Feb

You can start practicing on testnet or regnet, where coins don't have any value and you don't lose anything if you make a mistake. And once you fell confortable handling wallets and transactions, you can safely move your money out of the honeypot.

And yes, I was worried at the beginning, as well. Probably everyone does. You need to practice to gain confidence.

0 sats \ 1 reply \ @User21000000 OP 7 Feb

That’s a good suggestion

0 sats \ 0 replies \ @oliverweiss 23h

Or use ten bucks for a shitcoin and do this with this coin. There are endless options.