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0 sats \ 3 replies \ @vSats OP 5 Aug \ parent \ on: Returning to the Bitcoin Community After a Long Journey bitcoin_beginners
The hack of Mt. Gox was the trigger, but the amount of btc I had in the exchange wasn't that much. So it was not the whole reason.
I started into buying bitcoin for its ability to move funds without relying on a third party (banking), but of course I need it to be secure. When I found out that Mt. Gox was hacked, I wasn't assured that the btc is secured. So, I moved on to different ways to move my funds. I realize now, I blamed the whole btc ecosystem for a single party mistake, but I guess I was none the wiser.
Does it make sense?
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In 2015, I worked for a bank until 2017 . I realized how fragile it was. People in the banking industry can know so much about you, and your information actually for sale. And not mentioned the normalized/institutionalized scams and frauds happening....
That is when I started to look at bitcoin again, and I left it there. Self custody this time.
Last year, I checked my Multibit Wallet, downloaded the blockchain, and my btc still there, all safe and sound. So I started catching up again. Installed electrum, moved my btc to the new wallet.
And this year when I got my Mt. Gox balance back, I bought a cold storage device and moved 80% of my btc there. I use the 20% as my learning fund, some sats went to LN so I can sign up here and bought my first post.
Tried some DeFi, using Wrapped BTC and Avee, but it's all complicated, so I'm just gonna hold and DCA for now.