{quote} I have never been able to get my head around binance/bitcoin. I will probably miss out on this one. It never made sense to me from day 1 that people would buy it if it weren't backed by a bank, country and so on at least. The lack of an audit trail and the stories about people forgetting their passport/wallet passwords have all simply reinforced my belief that this is dangerous. Since I didn't understand the implementation and the timing of the rise, I am equally uncertain about the fall.
When folks cancel Kanye West and Andrew Tate, they cannot access their money which is 'their' tells me that my money isnt really mine if i dont have total control over it.
Case #2 happened in a country in Africa - i guess Zambia or Ghana back in 2020 or 2021, when the government deduct from its populatiions' bank account a certain % to reimburse national debt.
Not gonna happen with me, cause i didnt sign up for this sh*t.
I kept small % of liquid money in the local bank.
As for forgotten wallet, it is in fact quite dangerous, already lost 2 wallets.
I had my private keys break into 3 parts and engraved them on a piece of metal from 3 different jewel shops.
To avoid hacking, kept all my money related is in a different device and secured email address, to make sure no one get their hand init.
I dont know anything about coding/programming and type of hacking, so easiest and safest way to eliminate risk of being hacked, is to keep them all in a different device.
More time in the market, does not mean you trade better!
