Topic: Knowledge is the New Gold - page 3. (Read 318 times)

Then knowledge is not a Gold but is power. Gold is an asset while knowledge is to solve problem therefore you have to restructure your topic again to suit the story because I didn't see any gold in the story but all about solving problems with knowledge gotten. And that is one the cardinal points in this forum as well. You are here to learn and to contribute, solve problem and educate. And the person that got the knowledge freely from you used it to make money, then he is not good person because if you learn something free then you are to teach others free. This has reminded me in the Holy Bible story that, Jesus saved a debtor and he went to asked another man that ow him seriously. And the Bible recorded very bad attitude.

Personally I don't like Trustwallet from the onset even when I have not known wallet like that because of it cumbersome nature to use. And I will not advise anyone to use it. Well it is not good to save your seed phrase in the phone because if you misplaced your phone and someone picked your phone and has access to the phone then your coins are gone. And it is not also good to save it in your email and other online drives but if you save it in a flashdrive, hard drive and memory card, and I think is save because those devices are not connected to any external devices and it is when you want to use the seed phrase you plug it to you phone or computer to take the seed phrase and use it. And as for your apprentice, he has violated the law of "freely taken, freely given". Now when he comes again to asked you something, what will you do? His attitude is not a good example to the person he helped because the other person will also collect the 30% from another person and that is how corruption starts. This is bad behavior to the society. Thanks for helping him.

People lose more of their assets to ignorance or a lack of knowledge about the crypto space than to scammers and hackers. Even if there was no risk of a bad guy getting a hold of his phone and stealing his already screenshot seed phrase, what if the phone becomes broken and the data lost, what becomes of the screenshotted seed phrase saved in his gallery assuming he didn't back up his photos to the cloud(which is another terrible way to store your seed phrase). He loses his assets forever.

Also, screenhots should not be allowed on crypto wallet apps. These wallet apps developers are indirectly promoting this reckless behaviour.

Something interesting happened over the weekend and I think it’s worth sharing. A friend of mine reached out to me that he was having some problems with his Trust wallet. According to him, he received some bitcoins days ago through his trust wallet address and even though the transaction was confirmed on the blockchain, the bitcoins did not reflect on his wallet balance so there was no way he could move the bitcoins. I suggested he download Electrum and import his seed phrase to Electrum. He told me that wouldn’t be a problem since he had his seed phrase saved as a photo in his phone. This took me by surprise because he isn’t a newbie to Bitcoin. He’s been a p2p trader for about three years and still did not know the danger of saving one’s seed phrase online. I explained to him the consequences of storing his seed phrase online and advised him not to use that wallet anymore. His only defense was that Trust wallet allowed him to screenshot his keys so it shouldn’t be that bad.

Anyway, he successfully imported his seed phrase to Electrum and was able to move his bitcoins with less fee. What’s fascinating about the story is this. I got a text from him this morning that someone has a similar problem with his wallet and he needs my guidance once again to help this person. He then told he charged 30% of the bitcoins as his fee. I laughed because I thought he was joking. But he wasn’t. He’s actually thinking of making a business out of this. Turns out that people will pay for things they can do by themselves if they had the right knowledge.