Post
Topic
Board Bitcoin Discussion
Re: What was your first impression of how Bitcoin works?
by
Alone055
on 04/09/2025, 16:27:18 UTC
Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

It took me some time before I realized or understood how Bitcoin really worked, because when I first came to know about it, I was simply curious and shocked at the same time, thinking that a currency could have such a high value even though its value was very low back then, but still higher than any currency that I had ever known. For the few months when I was a beginner, I didn't even know anything about non-custodial wallets, and I was using web wallets or custodial wallets at first. And later, I came to know about non-custodial wallets and how we are not in actual control of our funds when they are stored in a custodial wallet.

So, you learn things slowly over time if you have an interest for it, after spending some time in the industry, if you are constantly involved, and you love gathering knowledge and understanding how things work, it wouldn't take you long, especially nowadays when there are so many resources for people to learn from, and so many forums and places for discussions.

You are right for saying that it's person's own responsibility to take care of their security. If you don't bother understanding everything properly and lose money, it's your own fault.