Gr

Great video. I saw the fall as an opportunity because I wasn't holding any BTC. I am currently buying a little at a time in coinbase...unless there is another better platform someone would like to suggest.

 

Just make sure you pull it of the exchange into cold storage

 

Yield is important for fiat currencies that are being diluted. Yield isn't needed for scarce monetary assets like BTC. Yield opportunities are just risk opportunities.

 

Can you point me in the direction of how I would do that? To take it from coinbase and where to store it.

 

you will need to get a cold storage wallet like Trezor or ledger ...and there are many others.
there are lots and lots of youtube stuff to help you.
when you have your own wallet you alone hold the keys.

that is why the saying .....not your keys - not your bitcoin!

 

The cold storage.
What is it?
Is it the same place for ALL OF THE companies that sell the Bitcoin around the world?
If not, how safe is cold storage?
How could we figure which Bitcoin trading company is run by Ponzi or Madoff?
I think that each separate company has its own storage,
plus,
some (if not all) of them make you sign to agree that they use your cold storage for their trading.
/
////

 

Technically BTC is never on any storage device. It’s all on the blockchain. Your keys to your BTC are on the device. I feel most comfortable with the BTC that I personally hold keys to. Cold storage on trezor or ledger is good. There are YouTube videos of how to do this once you purchase the device.

I do have some in cold storage in an IRA in which I do not hold the keys to. It makes me nervous. It a question I still have for jack. Should I still prioritize my BTC investments in ROTH IRA for tax benefits, or should I be adding to my personal cold wallet because of 3rd party liability. It does make me nervous that government could seize assets or change laws for IRA’s.

Would it be easier for government or other entity to seize btc with multisig with a company like unchained than on own wallet?

 

I would buy off a safer exchange like swan if you might store your BTC on exchange while you figure out cold storage.

 

Bitcoin, not blockchain. Bitcoin, not crypto. Bitcoin, not distributed ledger technology. Bitcoin, not DeFi. Bitcoin, not Web3. Bitcoin, not CBDCs. Bitcoin, not yield farming. Bitcoin, not centralized neo-banks that sell you fractional-reserve paper bitcoin. Bitcoin exclusively with regulation

 

https://www.lopp.net/bitcoin-information.html

Jameson Lopp has a lot of info. There are multiple ways of 'storing' your BTC. Soft wallet (phone wallet, cold storage wallet, multisig storage e.g. Unchained), running a node. It's not really a wallet but a secure way of accessing your BTC on the blockchain.

 

great explanation Gavin

 

I cant tell you how many people I have sent Lopp and BTC Sessions way over the last 6 months. I'm not sure why there is inertia present.