An asset that can't be stolen

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Avatar for francis105d1
1 year ago

My mother was an old school woman, and from what I can remember, she always tried to give sound advice, the advice you should expect from every mother in the world because they are mothers. I will dedicate his article to them and honor their memory by remembering the sound advice she once gave me; she told me that no one could steal what you learn.

When she was alive, cryptos didn't exist, not even close, let alone she didn't even know English. Still, she knew that there were people who wanted your effort and not theirs in this world, and she knew that the government was one of the thieves looking for your hard-earned money. She knew that you need something that others can't take away from you in life. And it was not only my mom that knew that it was, in a way, an old-world common sense thing to know.

I am sure your grandfather and grandmother told you that same thing when you were young, so older adults knew that people were trying to get what is rightfully yours, yet generations seemed to know nothing about this danger. The government hasn't made a mass confiscation event just yet, or it is getting better so that the population doesn't get it.

Because of the way or current monetary system works, I guess the government doesn't need to steal your gold any longer; they know that in the next money supply increase and decrease money supply you will end up losing everything you accumulated, and you won't say anything because you will think it was just a market condition when in reality it is all by design and whatever else you managed to get they will take as capital gains taxes or some other kind of tax with a different name.

Now politicians want even more money out of you. In the last proposal, politicians want around 40% of your money, and some rumors say that the new money called cryptocurrencies should be taxed at 80%. I don't know about you, but at some point, someone is gonna have to say sorry, but I won't comply because I hold no such thing. I am sorry, uncle Sam but I hold zero value for you to tax me. And your uncle will tell you that your aunt in the exchange told him you do have some satoshis somewhere.

Well, at some point, you will have to get better at hiding your wealth because governments around the world are doing a bad job at keeping the money supply low. Every other government is printing money and giving bailouts here and there.

Older adults knew the importance of having something no one knew or had something which could not be removed from their hands in the past that something was gold. They also knew that they need it money hidden away at their house to spend it whenever they saw fit, not when a banker saw fit, it is just that in those days, we didn't have computers and the internet. Still, the primary knowledge to understand such a fundamental necessary was here already for a very long time, not to mention older adults like to save on gold and silver, and much of the third world save on gold, by the way.

But now we have Bitcoin Cash, which is better than gold, money hidden in the house, and it is a knowledge that you can take to your grave if you wish. Because governments are seeking to steal your satoshis from online wallets, custodian wallets, and hardware wallets. The only place left for us is to save our private keys directly in our brains.

Memorizing a private key will be hard, but memorizing 12 seed words will be a lot easier, so remember, if you want to have an extra layer of privacy, start the process of memorizing your keys, and this is indeed a process because you must make sure you don't forget your words, in my case I am in the process of doing that, I have been for the last year, just memorizing my words without sending any money to it, restoring my wallet every three months or so. So far, I still remember my words every time, but I will wait until it is essential to use such a wallet.

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1 year ago

Comments

That is quite an interesting memory experiment. Gives me the idea to pick twelve words that make some sense to me for then using them as a wallet.

While I experienced lately how the browser wallet used by Noise did tolerate a typo, while the bitcoin.com wallet did not. It did not accept a seed word that was not in it's dictionary.

So picking 12 words need to involve such dictionary if I want the comfort of such wallet.

$ 0.03
1 year ago

You must be careful with brain wallets, because they can be hack, if they are easy to remember, so it is better to just memorize a regular 24 seed phrase.

$ 0.01
1 year ago

An asset that can't be stolen. KNOWLEDGE. It's actually one of our asset that nobody can stole that from us. By the way, thumbs up for your article.

$ 0.04
1 year ago

The idea is that what is in your brain can't be stolen, and as such Bitcoin Cash as just words can be safe in your brain. The seed phrase is just words, knowledge of a private key is knowledge something that could only exist in your brain cells.

$ 0.00
1 year ago

It's true politicians want to have control on us financially. That's good you are trying to memorize your key words.

$ 0.03
1 year ago

Memorize your 24 phrases, and jump the fence, that is a good get away plan

$ 0.00
1 year ago