Last week we saw an interesting conversation between the Twitter crypto community and Peter Schiff, a known anti-bitcoin loyalist. Apparently he lost access to his bitcoin wallet, presumably funds received by donation.
Previously he stated more than once that he was planning to hold Bitcoin until it died. Had he only took the necessary precautions that this new currency needs then his bitcoin would have been an excellent store of value.
Next month we’ll write an article about multi signature wallets and how these can help you keep your money safe.
We need to keep the following things in mind:
Our private keys are our most valuable possession.
We need to protect against: hardware failure, malicious actors that want your bitcoin, losing access to a private key because of external factors.
Since we’re getting the ability to be our own bank and are in full control we also need to take responsibility to learn and educate ourselves.
Get your subscription now and make sure you are going to be ready!