Quote from: mvdheuvel1983 on October 20, 2023, 02:36:52 PM

As a Bitcoin enthusiast, I want to say briefly that you shouldn't sacrifice simplicity for technicality. You are more likely to lose your bitcoins because of too much technicality than to scammers or hackers. An example of keeping things simple is that instead of storing your Bitcoin in a multi signature wallet that you do not understand how it works or have no experience in setting up, store your Bitcoin in a soft like Electrum wallet where the process of setting up is pretty straight forward. Another example is using simpler and recommended ways to protect your seed phrase instead of some ways that has too much complexities and technicality to it any mistake can result in its loss forever.

In summary, it is more practical to stick with user-friendly options that you understand well than advanced options. Simplicity and a strong foundation of knowledge are your best allies in safeguarding your bitcoin.

I totally agree. Too many Bitcoin users mistake complexity for intelligence in the world of Bitcoin and the crypto-economy as a whole, which changes very quickly. We're not talking about some obscure mathematical theory. These are real assets, and mistakes can cost dearly. Technicalities just for the sake of them can lead to terrible mistakes. You are 100% correct when you say that most people dont need or benefit from the difficulty of a multi-signature wallet. Why do that when there are easier choices like Electrum?

However, lets not stop there. Everything in crypto is based on this one concept. Deeply involving yourself in complex setups might not only add more layers of safety, but also more levels of danger. User-friendly doesnt mean amateur; it means practical. Yes, knowledge is power. But how can simple application of knowledge keep it safe? To do that is to really have power in crypto. Make sure your assets are safe and your methods are easy to understand.