Quote from: jlanzago on January 31, 2018, 05:45:20 PM

I don't agree with some, would add:

a - NEVER leave any bitcoin / crypto on exchanges. Store them only in wallets where you control your private keys. If you hold large amounts, it is wise to invest in a hard wallet.

b - ALWAYS backup your passphrase / security phrase / passwords / private keys, and have them offline or encrypted.

Copy that, I would be re editing my post to improve its effectiveness and to help the newbies avoid losing profit.

Quote from: OgNasty on January 31, 2018, 07:39:57 PM

#2 should really be replaced with something along the lines of, If you dont have ownership of your private keys, you dont own Bitcoin.

Storing coins on exchanges should never be advised.

Okay, i will be just adding those as a note in number 2.

Quote from: TheySeeMeHodlingTheyHatin on January 31, 2018, 05:52:08 PM

2. ONLY store in hardware wallets.

2. Storing in hardware wallet is the best option we have although for us who have only small amount of bitcoin in hand, storing in hardware wallet would just cause us to spend much. But i will put it as a note to #2 to store on hardware wallet if you are dealing with large amount of bitcoin.

Quote from: TheySeeMeHodlingTheyHatin on January 31, 2018, 05:52:08 PM

3. DONT SELL (CHECK COMMANDMENT NUMBER 10)

Right now, bitcoin is fluctuating too much that is why for now it is the most effective way, to buy and sell. But on other hand holding would be a better idea for long terms.

Quote from: TheySeeMeHodlingTheyHatin on January 31, 2018, 05:52:08 PM

7. Buying different crypto currencies DOES NOT diversify your portfolio. They are the same class of assets.

I was planning to change this also once i get some suggestion of better replacement for this.

Quote from: DannyHamilton on January 31, 2018, 07:43:53 PM

Quote from: OgNasty on January 31, 2018, 07:39:57 PM

#2 should really be replaced with something along the lines of, If you dont have ownership of your private keys, you dont own Bitcoin.

Storing coins on exchanges should never be advised.

Also, it is impossible to keep all these commandments.

If I follow #3 (sell high), then I break and #10 (HODL), and vice versa.

And #7 has nothing to do with Bitcoin! Why would you recommend that someone diversify into scams? If they are going to diversify, then they should think about precious metals or other commodities, or securities (stocks), or bonds. Moving form Bitcoin to other cryptocurrencies is NOT diversification.

I remove the idea of storing on exchange, The reason of adding the sell on high is because of too much fluctuation lately, I can just remove this later if it is not effective. And the #10 is for long term.
If you can give a better suggestions and contribution, we can change or replace the #7.