Topic: Education is the key but knowledge is padlock - page 2. (Read 279 times)

WTF?  so are you telling me that you are unable to store 12/24 words securely to conserve your savings?  Because we're talking about savings, I absolutely don't believe in investing in bitcoin and saving in the bank, if anything, on the contrary.

But if you lose your password or forget your bank account password, you can recover it, but if you accidentally lose your bitcoin password or your private key, you will lose everything. Both have their pros and cons, there is no best when comparing them and both have distinct use cases. Bitcoin is for investment and bank account is for saving.

Remember the popular saying in cryptocurrency, "Do Your Own Research"? Yes. Take note of the word "your" not "our". That being said, in the early days of Bitcoin we had a lot of so-called Bitcoin experts who collected huge amounts of money from unsuspecting victims to open buy Bitcoin for them with the promise that they would make a lot of money overnight. They ran away with their money.

I am glad you have learned a valuable lesson. The internet is the best University where you can acquire knowledge and save yourself money, stress and heartache. Newbies should always take the counsel of so-called Bitcoin experts with a grain of salt and do their own research.

Education teaches you how to find knowledge on your own. To show that you are really educated is when you are able to seek out and verify knowledge on your own. Develop the habit of trying to do things on your own and finding out things for yourself. It is also said that you should not just trust people but also try to always verify what they say even if this persons are very close to us, in your case, you trusted without verifying, and it is why you have learnt this very big lesson. Trust less, verify more. I hope that other people will be able to learn from this your experience.

When someone is lack of knowledge on a particular thing it always become a fool.op I may said that you are just after profit at first term that is reason why you are easy scammed.things like this always happen to does who are blinded by the profit they are thinking to make. As for me anything i want invest into, I always need full ideas about it and I pay for whatever I want to learn but I don't give people much way to be in charge my properties.
For proper understanding we always need to go for our own research and that is best way. It may the process of your own research you may able to discover things that even your mentors will forget to discourse with you properly.so personally research is very important in thing we do.

$200 for a wallet address dag it!!! That's a clear evidence that he does not have you in heart he is nuts looking for ways to benefit himself through you. If he truly wanted you to learn about Bitcoin/ crypto then the first thing he should have taught you was supposed to be about security and privacy, like how to keep your wallet safe, what type of wallet should your use, what secret phrase and private keys are and what to do with them and preferably teach you some of the basics on how to identify a scam.

Now that you have learned the lesson although it was costly I'm sure you'll never fall for something like that and if you still know those under his mentorship I'll love you to talk to them about this because I think he's a con artist and he might also be trying to trick those ones as well, make sure you try your possible best to prevent them from experiencing what you once experienced.

That's a costly and valuable lesson learned, and it's great that you took the initiative to research and educate yourself on this experienced.
I'm sorry to hear that you lost money to your friend who was taking advantage of your lack of knowledge about personal passwords and keys to your wallet but I hope this doesn't stop it here your interest in crypto despite making this lesson to improve yourself.

Next time make sure to take extra precautions when it comes to personal passwords and keys, and never share them with anyone, no matter how trustworthy they seem.  It's crucial to always be vigilant and protect your assets.

Read this article, https://bitcoin.org/en, all language was in there that you can easily understand.
Here also in the forum, spend your precious time reading value pinned post topic that seems to educate you well regarding Bitcoin technology.

Exactly, but then this guy's none the wiser years ago (I presume) and is directly and blatantly exploited by his so-called friend in exchange for a few bucks. In any case, I hope this becomes a lesson to OP that no person in this industry is truly trustworthy and you have to always be on the lookout regardless of how trusted the person you are transacting with. And NEVER EVER SHARE YOUR PRIVATE KEYS. They are called private for a reason. You don't share it with anyone, not even your spouse or whoever the fuck you hold dear to your heart. You keep your money to yourself and you keep your investments that way. Also, be careful with clicking links on the internet, every link nowadays from a dubious site is an invitation to getting your wallet drained nowadays.

You should be mindful of the friends you keep. Not everyone should be trusted. How could you have not known about this on time like from the start it was a scam.Private keys from it's name should be known by you and for you only. If you hadn't known ontime, maybe he could have made you invest more funds to your wallet and then take them out little by little. So have you changed the wallet or do you use that same wallet till date? cause last I recall, you can't change your private key. You just have to get a new wallet. What wallet did he open for you?

So your friend opened a wallet for you and therefore knew about your private keys?  My question now is: would you trust yourself to share your bank account passwords with some friends?  Obviously not.  Bitcoin is even better than a bank account because no trader can ever associate your name with the account let alone know your passwords.

I really wants to share this story, 2017 was the first time I heard of cryptocurrency. The person who introduced me to it completed Sappho my knowledge over education. He wants me to learn about bitcoin but at same time he wants to use me to accomplished his purpose. At first he told me to get wallet is $200 which I gave to create a wallet address, this money is not part of my investment you get, and when he finally show me my wallet, he said he's the bitcoin wallet moderator so he will be incharge of the password and keys as a novice I had no choice than to followed up gradually.

Now I invest $2000 dollars for a start and anytime I open it my money was increasing because those was booming season for BTC but after few days I will discovered that my money is not same amount but rather it has reduced than, this keep occurring at same time, I was receiving hash transactions to God knows where.

One day I was led to open google and verify what's all about bitcoin and altcoin, that's I begins to realized password and keys are personal stuffs no matter who opens the account for you, I loss a $1100 to my friend wallet who happened to have been fooling me all this while. He eventually ran away from my range when I discovered what he was doing.

Lesson: No matter who taught you in schools research is the best knowledge. Education is me telling you something but knowledge is you observing by yourself.