I think it's friends who do that it follows all these rules of the United
States government but at the same time there's a darker side of that happen if
one day the United States government says well that guy's a criminal I'm
taking his Bitcoin and it's all at corn base what a base we'll give you your
your Bitcoin now so it wasn't really your Bitcoin was it but if you control
your Bitcoin on your tresor and the united states government says you're a
criminal one day they can't take it from they cannot take it from you
but when it's on a third party it's very very easy for them to take it from you
especially one like coinbase which totally obeys then and they and that's
what you signed up for with come join base it's that coin basis fall it's not
it's your personal responsibility there but I mean it's a risk there there's
also I'm telling you not to take that risk and get it off of coinbase in all
those third parties also when you're hurt
where this is you know I've got all sorts of little little tips here when
you're watching some of our videos they'll be advertisements on YouTube
before our videos we do not endorse those advertisers I don't know the
advertisements that YouTube puts up before my videos they just put up
advertise do not listen do not listen to those advertisements do some of those
advertisers could be scams okay seriously there was the bit connect some
people we'd like a big connect is doing advertisers before your video and that
was like a straight up well it it was a straight up it ended up being epoxy so
when even if you hear legitimate like eat or eat or oh does a lot of
advertisement sign any one vent you know don't that doesn't mean they're kosher
people if they're before and if there before your favorite content producers
video so so be very careful with people that are pushing themselves out there in
the advertising realm and again I I I tell people to stay away from the words
trading and mind if don't try to be a trader or a miner it really complicates
things a lot alright another reason you don't want to be a trader and a way to
lose Bitcoin it's it's today is that last thing to pay your taxes
States if you were a traitor and you were buying and selling let's say on
coinbase like many times over you bought your soul ID you bought your soul those
are all recorded and again it's not coin basis bought it's not your exchanges
fault that's what you signed up for they're reporting it to the IRS so there
are a lot of people who have it's really complex to do your taxes that way hey
does you have all these little transactions you have to report if
you're just holding you wouldn't have to worry about that but not only that some
people make huge profits and there's all sorts of complexities to it so in order
to pay their taxes and to sell their Bitcoin now we're sad it starts up the
whole process again so next year they have to report that on their taxes that
they made a certain profit or a loss and everything so again a reason you don't
want to get into the trading game is because eventually you're gonna have to
pay taxes on it and you might have to SAP lose even more Bitcoin to pay those
taxes and so that's not a good that's not a cycle to get into I mentioned all
coins before I I mentioned not to invest in your friends projects lending people
asked me what lending platform is the best lending platform out there I want
to get a return on my Bitcoin I want to you know give it to this lending
platform and then they're going to give me interest on my Bitcoin no don't do
that what's stopping the lending platform from going out of business and
just stealing all your Bitcoin I mean again that's you know for and for a 1%
return and then usually the reply I'll get is well for Bitcoin to be in real
currency you're gonna be able to have to lend it out and have interest rates on
it okay don't worry about that in the future for now these are third is giving
your Bitcoin to a third party that's all it is it's just a fancy way of saying
that and hoping and give it back to you with a return so avoid avoid that I said
avoid icos private key and passphrase compromise
okay then I've talked about crypto dividends
before a lot of you have heard about all of these Forks from Bitcoin every
we come out some of them you're like well how do I even get this beat Bitcoin
diamond let's call it be diamond how do I even get this and it's not easy but
don't be tempted just because there's no easy way to get it if someone pops up
and say hey I have an easy way to get your a bead diamond now never give your
passphrase to them never give your private key to them never give them
personal information that's most likely more than likely it is a scam hold on to
that thing for dear life that's that's the easiest way because your Bitcoin
when you mistakenly think you've stumbled upon a site that's gonna give
you that free crypto dividend that's gonna split that free crip their
dividend for you if you just enter in your treasure recovery you see that's do
not do it ask someone first make sure other just
don't do it at all just do not do it you just being paranoid in this space is it
is a good thing just being taking your time is a very
good thing it benefits you in the long term okay we talked about story don't
store any coins anywhere unless you control your private key here's another
one let's say you do have a coin base account okay or any type of
cryptocurrency even if you have a trading account out there and you get an
email from that third party that you're affiliated with you're you already have
an account with that third party and it says hey we've done some updates here
click on this link so you can come to our site and you know check out the
terms of conditions have changed don't click on that link and you're like why
did the company just emailed it to me they just email it might not be that
company I get fake coin based emails all the time all the time they there are
people out there it just send out millions and millions of fake coin based
emails to anyone and they know they're gonna stumble upon someone has a coin
base account eventually and you click on it you enter some you might maybe they
say hey you know enter your password to get into coinbase take to log in now to
get did the new update and you'll do it they'd also may go in the coin
they start buying and selling and it's horrible what can happen and so and then
you're gonna say well heaven if it is a real coinbase email how do I get a real
email for quantity should I click on it no no you shouldn't again better safe
than sorry the information that they're telling you to click on if you just log
in the regular way you usually log in you're gonna get there eventually so I
don't click on any link see any root in any crypto currency related email same
thing with Twitter accounts out there don't don't click on any Twitter links
from trusted sources from your friends even because they might have gotten
hacked or they might have got fooled into sharing a fake like a fake charlie
lead tweet or someone that you think is reliable be very be very careful with
this diff so many you might have a favorite Twitter personality right now
there are so many scams out there involving Twitter and social media
people imitating your favorite personality just to trick you into
giving away your private login or private key information and again when
we're talking about Twitter and when we're talking about the troll boxes
boxes on exchanges there's some really lowlife type of people to hang out at
these places and they do a certain type of gratification that I cannot
understand by spreading fear uncertainty and doubt they will just scream over and
over then bitcoins going down to 5,000 bitcoins
going down to 4,000 somehow sell now and if they do it long enough and if you see
it often enough it's gonna bring you down you got to be able to avoid these
type of people if you see someone that you identify as a troll that's it block
them get out of there spear of influence okay and sometimes people can be
legitimate at first and then they can just totally troll on you so try to you
know I'm not saying you know there's many sides to every story well you guys
can tell a positive person from a negative person avoid the negativity out
there because for some reason just like a lot of negative people out there and
some of them are straight-up crazy people that are just stick jollies out
of it and they really are they love social media
how they that's how they get their social contact they don't they don't
come out to real they would never say it to your face
they would never try to find you to your face but again for those that you don't
know fear uncertainty and death that's a term you're gonna hear a lot and
something that you should be familiar with if you are in the cryptocurrency
space and it's not as you know there's gonna be all these one of the traders
out there - they're gonna try to tempt you into trading and they're gonna say
well you see I I sold it twenty thousand and I bought back at five thousand it's
so easy to do you just sell high buy low and I did it well most likely
those people are like okay they're talking a big game now that the prices
going down it is not that easy and so don't just because the guy is talking a
big game about what a great trader he is on the Internet where you will never
meet him you might not even be a guy for all you know he's probably not that the
picture that you see there don't believe it's not that easy and again that guy's
not paid does he talk about the taxes he paid he didn't pay taxes was really
didn't happen but maybe if you did have these probably not even paying taxes on
it should be real careful about that and remember we all do make mistakes
so we're learn from your mistakes just don't rely on others but if you do make
a mistake where you sent your bitcoin to a bean cache address then okay get back
off from me don't abandon Bitcoin don't don't say oh it's not for me this
personal responsibility coin it's not I want to go back to the banks I want to
be part of the herd and just live my regular life and get my big-screen TV no
don't let a bit bad things happen in cryptocurrency everybody gets scammed I
mean a lot of people get stands don't let it turn you off - cryptocurrency it
is the wild ball of West right now so if you that's another way to lose your
Bitcoin well you're like oh well I made a mistake I'm out of this game I'm
selling out now cashing out you're gonna regret it in
the long run this is a just such an exciting it's a it's always exciting for
me I mean but uh you just got to think about the bigger picture this is just a
total change in the way we see money and if you ever get down remember that or if
you ever get down watch my channel people say it really reassures them a
lot and stuff in when when the price is going down all right avoid buzzwords
there's so many people out there I'd like to throw around these smart
contract you know Joey get by my crypto currencies a smart contract type of
cryptocurrency there's all sorts of other words that are complex if you do
not fully understand what buzzwords are talking about and by the way sometimes
they don't even understand the buzzwords they're using and they're just totally
making them up just avoid those people keep it simple let me tell you let me
tell you a word that I like to use uncomplicated well well they can't take
your Bitcoin away from you that's really all you got to remember there you don't
have to worry about these magical altcoins that are gonna be able to solve
every aspect of your life that are gonna be able to I don't know turn your car
into a house magically and then they'll do a rocket ship I mean the things you
hear you know they're gonna all be able to do one day just don't get caught up
into that madness of these fancy pods words I mean when I was in South Africa
at the cryptocurrency I can't conference I mean at times
people are just talking smart contract this smart contract dad I'm like do you
really need smart contracts right now I mean why can't we just like talk about
store of value and how you know the bank Belen's aren't in Bitcoin I mean that
that's best for me is the basic type of thing so don't get tempted away from
Bitcoin by some of this big talk out there speaking about Africa Africa is
like like so in the cryptocurrency space everyone was like Africa's the future
there's so much potential in Africa and I agree but how about if you meet
someone it's like hey dude Africa's the future I need five Bitcoin we're gonna
start this awesome project in Africa of all places you know it's the future it's
gonna be huge pain we're gonna start the first Bitcoin exchange in Somalia it is
it's gonna be a moneymaker you got it again don't get tempted by these future
trends that are not even close to happening yet again you're giving away
your Bitcoin to something that seems like you're gonna be the freakin hero
you're gonna be able to virtue signal all your friends that you see in Africa
or whatever no don't fall for those things people do Hut I know it sounds
glamorous and awesome and you're gonna be famous strive not to be framed famous
in Bitcoin strive to be your boring grandmother with a savings account and
in the long run you'll be happier you will be I mean it's a bitcoin is a
newfangled uh newfangled savings account uh I'm sure my grandma would love to get
into it if she understood it you know thank thank god you're able to
understand this whole miss level alright what else do we have we talked about the
fake Twitter accounts never get fooled by that stuff here and never hurts to uh
if you do have a tresor already you'd get another one have multiple storage
devices just in case something catastrophic happened to your tresor and
your recovery seed yeah you know you had some Bitcoin on another device at the
same time sometimes just to have a backup Tresor if you if something went
wrong with your Tresor and you have your recovery seed you could always put that
recovery seed on another Tresor and just start all over so why not have that
backup already so I think that's about all you should pound that like button if
you're a blessing my video right now if this is on video now on that like button
think long-term I'm and have a strong hand I think I
explain what having a strong hand is there's a lot of temptation out there
don't don't get tempted in the down times to sell and the the down times are
the time so you have to prove that you're here here for the long run
there's lots of opportunity now always be in motion reach out to the trusted
personalities they're always very willing to talk so
yeah that's about it I will answer all of your questions of sure about anything
it doesn't have to be about how to hold on to your Bitcoin yes you do have to
and say that Bitcoin on each one if you use one when you try to use that
recovery to do that on to a tray so if it already has something or a blank
blank there's actually other laudable to get it you can actually use that
recovery seat on some other other ways there are other ways you're good at
reservoir treszura dot IO there frequently asked
questions can explain you how to take your recovery seed and recover your
bighorn like on a completely different on the computer if you want to do that
too but I wouldn't recommend doing that but the treasure back a frequently asked
questions that is a good that's they answer a lot of questions on that one of
the questions I get asked about Tresor is well how about if it goes out of
business I mean what happens then yeah again there there are third parties out
there then you'll be able to continue everything out but that is a frequently
that's something I get asked and they actually answer it as they're frequently
asked questions section he was first back there
have you moved here bitcoins to say what addresses great question so obviously I
had a bit of Bitcoin before the segment change happen now when when when it
happened it was actually expensive to move it them the man pool was filled up
so I did not move it at that time now remember I travel around the world so I
don't I don't take my treasure with me because I had a TSA experience once I
could give a whole speech about that but I did have my treasure with me not a
good idea and but anyway I didn't move it I did not move our you have segment
addresses I moved a some but not all now again if you're a long-term holder what
you're your legacy address it's gonna work still it's not a it's not a problem
but if you're a person does move their Bitcoin every once in a
while yeah moving it to a Segway address is gonna ensure that if you want to move
it in the future to another segment address that the transaction is
definitely cheap so I have not moved all of mine yet for those reasons I'm not
around my trends or very often but and it was expensive when it was when that
option first came out there but uh yeah you could do it you should do it a lot
of people encourage it I I'm not rushing myself to do it you doing this do you
not know that you do I like Leger Nano all right so that's my second favorite
now this is now I'm gonna give you an honest answer about this so again I
encounter a lot of people who use both and there's two other there's um what
are the other ones called uh did yet the digital bit box which I think and then
keep keep ki I don't like that because the got one of the guys involved with
that was involved with promoting be cash I would say so I said to throat I said
the boycott voorhees Erik Voorhees and shape-shift you don't have to do that
you don't have to be as hardcore as me or he was behind to it he supported to X
also some of you don't even what I'm talking about
but okay let's do so it's it's generally accepted though that traceur and Leger
nano are the best but I have had people and recently there was a problem with
legend anime they didn't there was a problem with actually storing your beat
cache on there that freaks some people out it look like they didn't have as
much beat - as they should and even though I'm not a big I'm not a be cache
fan I had D cache because I got it for free and I would have had like a heart
attack if I seemed like oh my god I don't have any big cash what the heck
happened here so treszura has been known to add ruin
treszura's had issues they immediately addressed they send out a press release
it's taking care of it wasn't even a big problem the other problem I've heard is
I've had clients of mine people I've been associated with because I do crypto
consultations and I help people set up a trace or they've had some complexities
with their ledger nanos just scary incidences that I haven't heard
about what reservoir so that makes me favor the trans war over the ledger
nagging now I'm not saying anybody lost anything on their ledger nan-oh I would
never spread rumors like that but there might have been some scary moments a few
people had that would have freaked the living on anything out of me with the
ledger nano that I had not heard about with the treasurer so that's my that's
my that's an opinion that's from my experience
I'm not saying ledger nanos a bad product but I I for the Trafford the
Tresor and again I'm associated with a guy crypto HW wallet calm he's like a
third party seller of these devices he's totally trustworthy do and so he sells
ledger nanos and stuff and so I've had an affiliate code with him so I'm sure
I've benefitted from people buying ledger nano I do have it affiliate code
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