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5 sats \ 0 replies \ @BitcoinHandsOn 22 Jul \ parent \ on: OnRamp guy says self-custody is the reason mass adoption hasn't happened bitcoin
- Every single concept, with self custody bitcoin, is new. From even the idea of digital scarcity, to seed phrases, to the block chain - it's all new. And the explanations/tutorials are out there, but very scattered.
- Lots of people - the majority, I think - are just very bad with tech. Even just learning new software is a barrier.
The more convinced you are that bitcoin is the answer, the more you're willing to push through barriers, and self custody bitcoin.
But if you're a lot less convinced, it just seems like far too much work and risk.
I think we're far from a world where the majority of people who "own" bitcoin, have it in self custody.
Even people like me - I'm not dumb, and I'm good at research - can have issues with self-custody. Those people that say it's straightforward are either dreaming, or can't put themselves in other people's shoes.
That's why I wrote the book Bitcoin, Hands-On. It's a step by step guide to learning the most necessary technical basics of holding your own bitcoin, one easy exercise at a time.
If anyone wants to take a look at it without purchasing a copy, feel free to email me (feedback@bitcoinhandson.com) and I'll send you a pdf link.
There was also that post just in the past week or so, that was very good - I can't find it now, but it was about - just having POTENTIAL competition prevents monopoly. And the analogy was made with the amount of people doing self-custody bitcoin.
The more there are, the less government will be able to control it.
Yes, I'm thinking about maybe creating 2 versions - one self-taught, and the other a classroom taught version, with slide deck, etc.
Thinking also about open sourcing it - just putting up on github, as well as Amazon.
But there's no getting around it - you still have to market, and not just a little bit - a lot. Products that aren't marketed - even though they may be free - never get any traction. Nobody ever hears about them.
Or, as I just heard yesterday - if I kick the bucket, my wife needs to deal with it, and she'd have no idea how to deal with self-custody bitcoin.
Yeah, they're the ones that are (sometimes) kind of interested.
But also sometimes they're in the "why bother" camp.
I think the only thing I'll give up on is doing anything like an in-person workshop, especially putting a lot of work into trying to promote it.
I'll try to figure out some new ideas. One thing I'm thinking of is somehow open-sourcing it - putting it on github or something. I don't need to make a ton of money on it, I just need enough to motivate me to continue to work on it.
But of course, just putting something on github isn't much use, people also need to look for it there. 2 people so far have told me I need to post on Instagram. Hmm...
Ha! Love it.
I'm no Andreas Antonopoulous, but it's definitely making me think I need to try something different...
No kidding, Zeus? I tried that (it's been a while now) and had endless issues. I was using it for Lightning.
There was always a way forward, if you do the research and hang out in the forums and ask questions. But it was very tricky, at least back then.
So, now it's much better? Is this mainly for bitcoin, or lightning?
Another corollary to this concept, of "when holding your own bitcoin is looked upon as being as important as driving, people will learn", is this:
Some people (perhaps many) will NOT learn. Just like they can't learn to drive. Or can't learn a foreign language.
I went to a neighborhood pool, which happened to be empty, and just floated in the sun, hat over eyes. In a pool you don't get hot, and the sun feels so good - and is so good for you.
MoreBirths is interesting to follow - https://xcancel.com/morebirths?lang=en
Here's one thing he says works, at least in Mongolia - better status for mothers. And it's mostly free, too.
If you're looking for a set of straightforward step-by-step exercises, check out my book Bitcoin, Hands-On! 28 “learn by doing” exercises to master the basics of managing your own Bitcoin, including wallets, transactions, and self custody
It doesn't deal with hardware wallets, I find them to be just a distraction until you really understand the fundamentals of seed phrases/private keys, transactions, etc. Not to mention that hardware wallets are all so different and change constantly.
I've helped a number of people through the exercises. The most motivated ones tend to be older people, whose kids are pushing them to learn and invest.
Anyone that wants a free pdf, email me at feedback@BitcoinHandsOn.com. And feel free to share with friends.
Here's the table of contents:
Introduction 1
Exercise 1: Install Sparrow Bitcoin Wallet 5
Exercise 2: Create wallet in Sparrow—Alice 8
Exercise 3: Buy Bitcoin 12
Exercise 4: Receive bitcoin into your Alice wallet 16
Exercise 5: Recover your Alice wallet 21
Exercise 6: Create wallet Bob 23
Exercise 7: Your first send—transfer bitcoin from Alice to Bob 25
Exercise 8: Review the Alice to Bob transaction 28
Exercise 9: Explore the Settings window of the Alice wallet 31
Exercise 10: Create watch only wallet based on Alice 34
Exercise 11: Explore the Alice Watch Only wallet 36
Exercise 12: Receive bitcoin via a watch only wallet 38
Exercise 13: Use the Alice Watch Only wallet to send a transaction 40
Exercise 14: Create wallet Bob Legacy Script Type 42
Exercise 15: Create wallet Alice With Passphrase 45
Exercise 16: Review some transactions 48
Exercise 17: Send bitcoin from Alice to Bob—review fees 52
Exercise 18: Bitcoin fees—what you pay, and why 54
Exercise 19: Install Blue Wallet and create the Carol wallet 58
Exercise 20: Send bitcoin from Bob in Sparrow to Carol in Blue Wallet 61
Exercise 21: Send bitcoin from your exchange to Blue Wallet Carol 63
Exercise 22: Import the Alice wallet to Blue Wallet via the public key 65
Exercise 23: Import the Alice wallet to Blue Wallet via the descriptor 67
Exercise 24: Set up password protection on Blue Wallet 68
Exercise 25: Recover the Bob wallet in Blue Wallet 70
Exercise 26: Send all bitcoin from the Bob Recovery wallet in Blue Wallet to Alice in Sparrow 73
Exercise 27: Bonus—use Blockstream wallet 75
Exercise 28: Clearing practice wallets and creating a long-term wallet 78
Final notes and next steps 80
Resources 89
Think first about how you'd market it. That's extremely important.
Would you put it on Amazon? Would you use Amazon ads (very expensive, maybe not worth it). Or would you just sell it on your own, and find other ways to market?
If you just want to sell some ebooks, you could consider http://Gumroad.com, or maybe https://www.lemonsqueezy.com. All payment processing, etc, would be taken care of with these 2 companies.
If you need a website, and you're new at this, you could do worse than trying something simple yourself, like https://carrd.co/.
A lot of the anti-family propaganda out there IS, I believe, fiat related. Don't have kids because:
- the climate crisis is ending the world (that whole climate hysteria is very much fiat related)
- career is the most important thing (you need to keep on working to keep the fiat machine running).
- women especially - don't worry about having kids, your 20's is a great time to focus on career, your 30's is when you can maybe start thinking about kids (if you even want to - climate crisis, remember?)