Jack has been telling us for a long time to get our Bitcoin off the exchanges and into our own hard wallet.

Jack is very simply saying ...BUY BITCOIN ....but get it off the exchange pronto and into your own custody [hard wallet]

So - once you transfer your money to an exchange [any exchange] and buy bitcoin - you must get it off that exchange and transfer your bitcoin to your own personal hard wallet of choice.

Personally we use ledger but there are many others.

There are all kinds of excellent youtube videos that walk you through it.

It isn't hard - only a little scary the first time .....but very, very doable.

I was an extreme newbie and petrified the first time. I transferred $10.00 at first.

not your keys - not your bitcoin.

If your bitcoin is on an exchange it is leveraged - it is not secure - why take a chance?

 

I hope no question is a stupid question.

The first line of your answer sort of answers my question.
I said "sort of" because I have never seen warning where the caveat was that even if you have your bitcoins in a hard walet, some exchange or exchanges made you sign agreement where they are allowed access to your bitcoins.

I do not have bitcoins.
I have GBTC.
What do you say to that? @caroline ?

=======================

 

I can't speak for Jack, but I have never heard him tell anyone not to buy BTC even at its most recent peak.

Don't use exchanges that ask you to do stupid shit or claim they can provide yield.

To date SWAN is the most straight forward with a buy only business model.

 

Once you move YOUR bitcoin off the exchange where you purchased it - they have totally NO access.

Jan - I just got a notification that Swan Bitcoin is having an online workshop 101.
It is an introduction to cold storage, why it is an important part of your journey, how it works and how Swan makes it easy for you.

Jan - why don't you join Swan and buy $100.00 worth of bitcoin and take the journey.

Maybe the word "keys" confuses you? I know I didn't really understand that. I used to think that there really were keys - duh!
I suppose at one time I thought there was actual coins in an actual wallet - like the wallet in your pocket! double DUH!

Your keys are actually a series of words = a password - maybe 12 words -that you need to unlock your hard wallet to access your bitcoin that are on the blockchain

No one has access to this list of words unless you give it to them or you leave them hanging around.

You would make several copies and store them where they are safe.

Now days there are metal cases etc. etc. that you hammer your "words" into and then they are safer.

Is this explanation rubbish? I could try again.

I was so dumb at all of this but I was desperate to buy bitcoin .....

It is still heart stopping when I need to transfer BTC off my exchange ...but I just really take my time and sweat buckets ...and then heave a huge sigh of relief when it ends up in my wallet.

Don't misunderstand - you have to get the addresses right ...if you don't you can kiss your bitcoin goodbye!

 

You can lead people to water but you not force them to drink it

 

https://twitter.com/caprioleio/status/1598668866984493059

 

LTH-NUPL - Glassnode Academy

 

I love this graph ....makes it so clear that bitcoin has always been on an upward trajectory with little tiny hiccups every now and then.
I need to make sure we live long enough to see it all unfold ...........

 

https://youtube.com/clip/Ugkx2DOpxb4e0JG3UqmfcuKLfAIiB55CWXTZ

Blackstone Real Estate Fund Rekt?

 

Been telling you RE is headed for the abyss.

 

But this company is gigantic right?
Wouldn't this cause world wide shockwaves? and enormous devastation?

 

So glad I listened and took action.

 

Yes it is.

 

No, it will cause opportunity because the asset will change hands

 

No surprise - clubhouse, other private rooms, live events -> I already spent all of what I had on BTC "investments". Since then, I simply no longer have had the discretionary finances to purchase more "content".

 

If you own BTC you'll be fine

 

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my pleasure.

 

https://twitter.com/DocumentingBTC/status/1613984252873347090