Topic: Knowledge is the New Gold (Read 794 times)

Knowledge is important as money is, we can use our knowledge to get want we want and we can also use money to purchase what we want. But the both of them works hand in hand, people follows money and people also needs knowledge to use the money that they have if not the money won't stay long.
Crypto currency is not like fiat and one needs knowledge and money to own it, without money one can't buy Bitcoin unless he works and gets paid with Bitcoin and the person also needs knowledge to secure the Bitcoin that he's holding because that Bitcoin has a lot of potential to add more value in time coming. If the person doesn't have knowledge about Bitcoin he will sell it and use the money to do something else.

I agree with you. Knowledge is powerful and can help to solve many problems. If someone is thinking to pay for solving those problems so it is okay to charge. We pay people for their services whenever we need any help so helping with crypto is a service too. Just because some information is free online does not mean it is wrong to charge for it. If people do not want to do their own research that is okay. If they are thinking to pay for help that is fair trade.

Gold and knowledge, I would kindly preferred both because they're important for our existence. This world is a cruel one and the earlier we realized to accumulate the necessary points for ourselves and not entangled or get mixed up with the system. Knowledge is power and can be easily noticeable for those individuals that have stand firm and ready to outrun the big phase.

Very well said OP. Knowledge is power and with that power we can solve many problems.
If someone is willing to pay you for solving those problems then you shouldn't mind charging them for it.
Besides that, we pay many people for their services and providing crypto solutions can be as good as a service.
This knowledge is available for free on the internet and if people don't want to do their due diligence then charging them for it isn't something wrong.

Ignorance can be deadly, and in this century, it's no excuse. We see people get scammed because they lack prior knowledge of the tricks scammers use. If they were informed, they wouldn't fall for it. Knowledge is power, just like in ancient times when GPS wasn't available. Whoever held the map or compass and knew how to read it led the way.

Knowledge helps to build authority, boosts confidence, eliminates low self-esteem, and prevents belittlement. When you possess knowledge, you become the privileged one. Indeed, knowledge is gold to those who hold it.

We can acquire knowledge by studying, staying up-to-date, and asking questions when we're unsure, instead of keeping quiet due to fear of appearing dull or feeling ashamed.

Knowledge is more than gold, because if you have gold you can not have everything but with knowledge you have everything.it will give you wealth even gold good health and a good life.cause knowledge gives you the wisdom to invest to take good decisions but if you lack knowledge you can not achieve things even gold it self will be far from you.so I agree knowledge is gold but is still more than gold.even the bible says my people perish because of lack of knowledge.so without knowledge you are perished.

Knowledge is the best thing one can ever acquire in life,we should all try to spare our times and try to read more about the things we don't know because what we don't know are there to always stand as a stumbling  block to our success. It is knowledge that makes us move from one level to the other because where there is no knowledge,it seems you are walking in darkness and so on,so to attain the new gold,we must seek knowledge and understanding because it is the principal thing.

Knowledge of course comes from learning but here it basically means that knowledge is as valuable as gold. Just as we value gold a lot, so a wise man is compared to gold, which is preferred by all. Knowledge is the companion of a human being at any stage human needs knowledge so knowledge is the most important thing. With knowledge you can plan both good and bad, so the value of knowledge in our life is immense, for which people have compared knowledge to gold.

Most people are just too adamant to follow proper measures until they become victims of a severe scam and lose their funds until then will they take corrections. Risk like this are not worth it but definitely his going to bear the full risk and self blame if something is to happen. Funny how you didn't charge him but getting to his own time of helping someone he is now charging for it, knowledge rules.

I don't understand why a  crypto enthusiast with up to three year of experience would still make such mistake of taking screenshot of his seed phrase. Could it be that he learnt and unlearned the basics? The basic of cryptocurrency is one of the most essential knowledge that we must have as crypto enthusiasts because every other knowledge should agree with the basic knowledge, and becoming that careless with his seed phrase either means he must have skipped some basic knowledge or its a choice for him to have ignored that and take full risk.

Oyess op's friend was so courageous to charge because of the knowledge he has

Knowledge is the one way you get to place value we’re value really belongs. How do you get to value gold if you don’t know it is a gold. To just anyone, gold is just one piece of shiny rock but, it takes knowledge to tell you what that is and why it’s so pricy, also develops a method to check/verify.

Knowledge have led people to do unspeakable things to themselves because they didn’t know any better and have somebody tell them. It could be a very dangerous weapon in the minds of the wrong person.
Knowledge got the world this far and it’s been the gear that moves the world since, how can you not have it or strive to have it.

That’s why, there is no sense in one having to assume to know all or know so much to be enough. It’s never enough with knowledge and learning, there is always room for improvement and updating an information after it’s gone through certain steps to be regarded as a theory or fact until disputed.

It is more than gold, much more than that because you can not earn more gold but if you can learn, you can get more knowledge which will help you to earn more money from your jobs, business and you can use it to purchase more gold.

The simple progress example is to prove that knowledge is key to success in life. You can get knowledge from official educational places like colleges, universities but you can gain it officially from online resources, free courses which are existing more than ever before. The Internet growth gives us a best chance ever to learn free, and if we want to learn, we can do it even we don't have money to go to schools, colleges, universities.

An example about Bitcoin, you can learn it free with https://learnmeabitcoin.com/

Knowledge comes from learning which they said that learning never ends, and shouldn't be compared to gold, the importance of knowledge can not be overemphasize, it requires knowledge to make a good plans in life, knowledge gives the courage to venture in to the unknown out if curiosity., It gives boldness, authority power, and good direction.

It will be profitable if everyone can have the knowledge before taking any decisions in life, because once you have the knowledge of cryptocurrency and other things, I think it will be easy for anyone to achieve what him or her want to achieve in life. When other Carry power and position without knowledge, it will not make such people to succeed long in that power and position, but if they decide to apply knowledge to power and position, then you will begin to see such people making progress in anything they are doing in that particular environment. Yes, if that knowledge is there , you can turn to a millionaire if you continue applying the knowledge to purchase Bitcoin in the bearish season and trade in the bullish season, you can achieve massive income.

Seeking knowledge is one of the most important aspects in the crypto world, especially when it comes to storing assets in a wallet. So the pursuit of knowledge should become our habit as this will give us knowledge about the crypto world and enable us to achieve success in the crypto world. Knowledge also allows us to gain more information about the crypto world so that we can get involved in the crypto community or even help overcome challenges when we invest or trade.

Moreover, the importance of knowledge in this very complicated world of crypto can completely change the way we trade, making us productive traders. Knowledge is power and knowledge allows us to analyze what is in front of us so that we do not make the wrong decisions in trading and when choosing a crypto wallet.

I also agree with you, knowledge is an intellectual asset, because knowledge will never be lost and with knowledge we can dig deeper into the world of crypto so that we can minimize losses and be consistent in seeking profits.

It is our responsibility to protect our resources. You have to choose how you protect your assets ie how you keep your cryptos safe in your crypto wallet is your responsibility.

Yes like you I read a lot in this thread about people losing access to their wallets due to hacking. Basically they are failing to keep their wallet seed phrase in a proper safe place due to which people's wallets are getting stolen or hacked. Many people also want to memorize their wallet seeds without writing them down properly which I have seen here. Maybe it can be one of the biggest mistakes because we can never memorize them we can forget them anytime which can cause danger for us later.

One thing we should always remember about the security of our wallets is that Not your Key Not your Coin.

Many people even those who have used crypto for long time do not know risks of keeping their crypto on exchanges. I am also thankful for this forum which taught me that not all wallets are safe because I read many threads about this. If I did not learn this I would have thought all wallets were the same and put my crypto at risk. Learning is very valuable because it helps us make good choices and keeps our assets safe I am still in learning phase and this will never ens. It is important to understand how to keep our crypto safe and take control of our digital assets. Because we are listening many news about hacking day by day. So we should keep safe our assets.

They can be taught about that risk but they ignored it and use centralized exchange accounts as their personal wallets. These accounts can be used to store their bitcoin or cryptocurrency but it is not safe. They are not given wallet seed phrase or private keys and they don't have control of their cryptocurrency.

Will their money be safely or lost, it depends on security and trust of that centralized exchange. They as users don't control on any business operation of a centralized exchange.

Reminder: do not keep your money in online accounts
Exchange graveyard
Hacked exchanges since 2011

Since the Stone Age, humans have used knowledge to survive, so as long as humans exist, knowledge is a very important tool for humans to survive, including in the world of bitcoin and crypto

knowledge without courage is empty and vice versa, but OP's friend has proven how important knowledge in bitcoin and crypto

Many people out there still don't know the danger of keeping their asset in exchange,  even people that have been into crypto for a very longtime arr very comfortable in keeping bitcoin in exchange.  I'm so glad for the forum, if not here I'll also think that every wallet is the same and I won't know the risk of just dealing with exchange wallet.  Honestly is a gold, because when you have knowledge it will only bring more value to you.

If you're speaking about the market in general, looking for the disadvantages or advantages are a waste of time because most of the altcoin are typically the same. They move the same, have similar marketing and mostly built with intention to make their founders rich. Bitcoin on the other hand wasn't built with the intention of enriching the founders but the believers. Altcoins are a gamble and they all depends on Bitcoin for success. As Bitcoin is talking a hit, the entire market is feeling it in all sectors no one is excluded. Knowing that altcoins needs Bitcoin is knowledge and that's golden in the Industry because It'll affect the way you go about your investment. It'll save you from losses that would had happened if you decide to trust altcoins more than Bitcoin.

Knowledge in what you're involved in is golden, if you don't have the knowledge that you can determine your fee price that you'll like to pay for your transaction to confirm, you'll be giving away free money to the miners. Some people don't know how to adjust their transactions fee when sending out a transaction and if you're using a wallet that doesn't allow you to do that then that's a clue that you're using the wrong wallet.  There are other things that you should have knowledge on and  as you engage on the forum, you'll be coming across them, one after the other.

What a nice story and the ending part is what summarized why we should learn so we don't have to pay for little thing that could have helped us to save some bucks. Since everyone of us have different ways we think about the use of wallet for transactions. I do that really know why someone would have to screenshot their seed phrase on their phone and they are not even scared what will happen if they eventually lost the phone to someone else who could go through the get to know about the seed phrase. Our safety is what matters in the cryptocurrency market and we ought to seek it first by all means so we don't have to loss fund.

Many people are adamant of taken screenshots of their seed phrases with their phone and even me I was literally doing same thing before I saw a thread in this beginner and help section that discussed about the risks associated with taken screenshots of one's seed phrases as every picture that is being taken can be sent to Google cloud and it will be visible to others over there so immediately I opened another wallet address and did an offline backup of my seed phrases on electrum wallet and also saved it in my diary and notepad in my phone.


At some time in our lives, most of us have paid for something we later discovered it was so simple and easy when we gained the knowledge so it is a normal thing. There's a statement that is always common within the area I reside and it is that something that you don't know is bigger than you until you know it, so if you do something for others out of your freewill and they decide to transfer same knowledge to others and receive a compensation in form of money I don't see anything bad there.

based on my own understanding concerning people who lose their cryptocurrency based on their mistake I stand to blend them because cryptocurrency is all about researching continuously because if you don't research in cryptocurrency you will end up investing when it's not proper for you to invest that is why many people have to advocate time to learn the consequences and the benefits of cryptocurrency before they start to the investment but people currently does not look at the advantages and disadvantages of cryptocurrency before they go into it because there are not after learning but there are after profit from the investment so that is one of the things that makes them to lose from their investment in cryptocurrency especially in Bitcoin

That statement is figurative, that is metaphor if I want to be precise.  It does not mean that knowledge is the solid metal found beneath the earth or the aspect of it being treaded in the FX market,  what it simply mean is that knowledge has become something of treasure which has high worth. I agree with that statement completely because money and affluence are just product of knowledge.  Even things natural resources such as crude oil, solid minerals, fertile land and water require knowledge to put them to good use and without knowledge,  they cannot be harnessed. 

We are now in an age where technology is making impact. We now have Artificial Intelligence, super computers, machine learning, nanotechnology and many other innovation whose common denominator is knowledge.  Indeed knowledge is the new gold.

I want to say knowledge is a powerful tool that can dig/earn gold & not the gold itself. Its a intellectual asset. And once one learn that knowledge that can't be lost/theft like physical gold and remain with him forever. So one can keep digging sea of gold with his knowledge power.

It is very important to be aware and stay organized.  Hard earned money if we can't catch the fraud of a fraudster then our earning is in vain because the fraudsters will cheat us and steal all our money and wealth. Knowledge is always valuable, many would argue that the time spent on education should be invested in business or other activities. But I am different because whatever time it takes me to get an education, I am definitely gaining enough knowledge and this knowledge will help me throughout my life.

There are still many people in the village who are being cheated regularly. 
Many times fraudsters use mobile banking agents to call customers and ask for customer account PIN number and other information. Those who can catch this fraud but do not share the account information with those fraudsters but those who do not know about this but easily give their account password and other information to the fraudsters. Here lies the difference between a wise man and a fool.

The person who said, knowledge is the key to success didn't made a mistake, the truth is the person who paid 30% from his Bitcoin didn't know to import seed phrase from truest wallet to electrum because he has no technical knowledge about wallets. But it will be more better if the person pay attention to what the dude is doing so that he will be able to do it by himself next time or might help someone that has a similar issues. It helps to be knowledgeable about the things we do because it reduces expenses, just like the he dude who paid someone to import seed phrase.

It's a metaphor, and that being said, Knowledge is gold. Knowledge can be an asset. Asset is a useful or valuable thing to a person, so that makes knowledge and asset to an extent.
It's just like the saying "Oil is the new gold" or "bitcoin is the new gold". They don't mean them literally, but figuratively. Knowledge can be power, but only to an extent.


I remember some time last year where I read an post on Reddit that said "the ability to screenshots your wallet recovery phrase needs to go away". It doesn't make any sense to have the screenshot of your seen phrase on your phone.
It's funny because there are a lot of things OG traders do that will get you so surprised, it makes you ask questions like "how can somebody so smart, yet so foolish". I've seen this happen to 2 people I know. They've been trading bitcoin way before I owned my first bitcoin, one somehow allowed another person to know where his seed phrase is and lost all his coin in his wallet, while the other keep a huge amount of money ($80k+) on Binance and his account got frozen because Binance wallet received stolen bitcoins.

I wasn't experienced in bitcoin at all when these things happen,, but now that I am to an extent, I always ask myself why people who have had so much experience can be so naive. And till now, there are more people like them.

Ignorance and lack of knowledge lead these people to be scammed and have their hard-earned assets stolen. Any beginner can access many audio, visual, and written sources for free without paying someone for his assistance as a service fee.  ^{[Bitcointalk is a living example]}

If the person who asked him for help did not have good intentions. He could exploit his lack of experience and knowledge to steal his bitcoins and hack his devices after the victim sends his seed phrases/private key or downloads suspicious wallets and the like based on the instructions he received. In the story you mentioned, OP, I believe many beginners have acted recklessly and trusted strangers, and they have certainly paid a high price now. So Yes, all beginners must educate themselves with the correct knowledge and learning because every problem has a solution without relying on one person. They need to avoid laziness, and investing only after they are well-informed about everything is better.

That's right, newbie traders and investors need to memorize this line because we often see them venturing into the market without gaining any knowledge beforehand and then complaining that they have lost their capital in cryptocurrencies and blaming the market for it when it's their own mistake for not trying to learn anything about the market before getting in it.

We can't expect to achieve high feats without acquiring enough knowledge about the things we are willing to do because it doesn't work this way. You can't become a doctor if you don't study about it otherwise you wouldn't know what to do, so the same thing applies to everything you do in life, whether it's a profession or something you do for fun, to be able to do it effectively, you need knowledge. Of course, you need experience as well, but that comes later.

Yeah, screenshot is another risk that can lead someone to get scammed because if a stranger gets access to the phone gallery, definitely if he wishes to steal the owner of the phone's crypto assets, he will easily do that because the seed phrase is already with him and he already knows that unless he doesn't know anything about it, so you are right, crypto app developers should set it up because it will really help people. Although screenshots should not be a means of saving or hiding the seed phrase, the best way is to write them down on a sheet of paper and hide them somewhere outside the phone because I believe the phone can be lost or stolen. 

If knowledge is to be qualified a gold, then it is not new, because there nothing to be compared with it. Knowledge has been a corner stone since human existence...
Knowledge is power. Just imagine the confidence your friend has to charge on that regard.

Moreover, he charged for his recently gained knowledge. 30%, which can be cents or millions, depending on the "client's" balance (more cents than millions, I guess) but still a lot in relative terms. And I don't think he has the knowledge to give advice: what of the other person lost his money because of a bad decision made because of him? You have to know your limits and be a little responsible...

There are people that knows and know they have knowledge, and there are people that are ignorant, but claim to know whereas they don't but worst among all are those that knows but are not aware of the knowledge they've got or can't make use of it rather, those are people that fall under the category you just mentioned, they're the ones that would pay people to do what they could easily do.

 I consider those set of people worst cause they have the knowledge already but are too lazy or should I say not very confident enough to perform simple task and would rather waste money in paying people to do what they already have knowledge about, something they themselves could use in earning money from the ignorant ones that claim to know.

 That's why I agree with the OP, but I'll prefer to say knowledge is power, instead of saying knowledge is the new Gold like she specified. Someone that’s knowledgeable and understand what they know very well can't be cheated or taken advantage of and won't spend unnecessarily like the ignorant ones or those who are too lazy to make use of the knowledge they've got.

Just like your topic, knowledge is gold, and that is why there are rich, and poor, illiterate a d the educated, Wise a d the foolish, all these disparities are resulting from the difference in how much knowledge we have and have been exposed to, sometimes in other to get these knowledge, we go as far as paying for them because they are not such that we can just get anywhere and from any one, a d if not for this story go have shared here on the forum, I don't have a good idea about this and would definitely get to lay too if I were in their shoes, I would pay to have this Information and next time I will do the whole thing myself because I have the information and will not have to pay them again.ita up on knowledge as this that a few do go to open up an academy and start teaching people how well to make use of the opportunity they get until they are able to make money off it .

One thing that is very important is that we have to know the procedure of things very well before we make an attempt because if you follow a system of brag you will not achieve anything and the a pride will not allow you to understand what you are supposed to understand when you bring down yourself that is what some people does not know before here nobody is a encyclopedian of knowledge and the nobody is island of knowledge so you have to follow things sequentially or bring yourself down to achieve what you want, or else you will be distracted to learn.

That's right, that is why we have phones, laptop and other accessories for us to be able to do research and it's also good to be educated in terms like this, so that we will able to read and write and know what we are doing because if we don't have any knowledge or doesn't know how to do research or ask questions online concerning what we don't understand or get confused at, we might fall a victim in the hands of scammers because it's not only having the knowledge but also being educated and be also be open to learn from other people and do more of research as well

No doubt, Knowledge is gold,as well as information is power.They do say if you aren't informed,you are deformed.I believe it is information who led you here,and when here,it is that same information that will make you know the things you didn't know before when you get here.
The knowledge we have about a particular thing is what make us professional in that thing.
This is the reason why before we start anything like trading or any other thing we do in life,we should try to seek some knowledge about that particular thing so we'll be equiped with the tools of it before venturing into it.

Absolutely right knowledge is always the key to success because without knowledge in this crypto space one would just end up losing his/her assets everytime time because once you are knowledgeable on anything you are doing you we see that you will be able to manage our assets and over come any obstacle that would comes your way during your investment because although investment without knowledge is really equal to zero.

this reminds me of my first year in the university. I wasn't knowledgeable enough to know that I could do all my processing including payment of my school fees all by myself and had to go to a cafe to pay my school fees for me. As normal, they charged me huge for it but ignorance wouldn't allow me think of the charge. I learnt about it in my second year in school and started doing all my stuff with my school but as usual, all freshers lacked that basic knowledge and we had to make a business out of it and run there school fees processing for them while we charge them less than what the cafe guys will charge them and life goes on.

Knowledge is power and with time you discover that most of the things you're paying for are things you can literally do all by yourself but you've got to give credit to those that have the skill and pay them for thier service. The alternative and better way of doing this is to pay for someone to teach you how some of this little things works so you wouldn't have to keep paying Everytime you're in need of such service.

Knowledge is very important and you have knowledge then you will be superior and that is one of the reasons they tell people to choose knowledge even before even investing we know what it takes to start making profit not only in cryptocurrency but generally even if it is business you need to still do your fundings before even the start up. There should be plans for every thing. And with the kind of devices we have now it has made everything very easy for us to get information we can have access to all the information we need from the internet. There is nothing new anymore you can even pick some ideas from the internet. And even have solutions to some of the challenges faced when doing business or even investing, you can make reference, we don’t know how powerful knowledge can be.

This is why philosophers say Knowledge is power -- Hobbs.
Knowledge is virtue--Socrates.  No matter how small the knowledge is, it will come in handy someday. Even a little knowledge can save you from big danger. And knowledge is essential to protect your assets in cryptocurrency. Thanks OP for sharing this educational story.

So much i learned from the story you shared but i focus my attention on these key points. Every knowledge is not little even if we learned how to tie a know it could be useful to someone someday. I have been in an environment in my country where people pay to create a Gmail account so that they can right tertiary exams since it is highly required. And that is how i made much money from hundreds of people. What we don't know is greater than us no matter how little it is. Thanks for sharing this OP.

We have power to either boost our confidence and that's where knowledge comes in. We can have accessible requirements to invest but without knowledge, that's merely like making heavy losses because you have no clue about the space. What can we do without adaption of knowledge? It's very important we watch our steps and always find means to stay true to ourselves and gaining strong grounds in the system.

You are totally correct, that is why it's very essential to have the knowledge and the understanding of crypto and the wallets as well because without any knowledge of what we are doing, we might likely be doing things in a wrong way and can be harmful to us.

Crypto is not something we can just pop in like that without having the concept of it first and having the knowledge of it will be of more help to us.

Knowledge is the precipice on which civilizations were built and have come to exist. It is power but it is the application of knowledge that we know that is called wisdom and it is the hand that wields the sword of knowledge.
The Holy book would even say, in Proverbs 4:7-9 from the King James Version (KJV),
"Wisdom is the principal thing; therefore get wisdom: And with all thy getting get understanding. Exalt her, and she shall promote thee: She shall bring thee to honour, when thou dost embrace her."

Bitcoin is a wise choice and anyone who knows and understands as much as apply the knowledge to making good returns from it, will rank among the wisest of their time and we know that wealth is a result of personal growth and value.

Knowledge is something that is very important in life. With knowledge we can live more advanced and it is a necessity at this time, at least we keep up with current technological advances and with the knowledge we have, we can make life easier in this digital era.

Of course, knowledge is the supreme power by which we pass on everything.  Without knowledge, we are entirely immobilized.  Knowledge is needed to move forward in every sector of life.  We do various things with expertise.  The one who recharges more has higher knowledge.  In the world of cryptocurrencies, the most knowledgeable are those researching them for a long time.  If we have technical knowledge, we can do something.  For this reason, it is the source of all power.

Knowledge is power, without knowledge man is weak. Knowledge means having theoretical and practical knowledge about a subject. Those of us who work on this forum or in the crypto space must be wise. Because if you want to work on this forum or invest in any cryptocurrency token then you need to be experienced or knowledgeable about that.
Knowledge is needed in all areas of life.
OP you mentioned your friend saved the trust wallet seed phrase as a photo I wonder how he did that? (Currently that is not possible). There are many wallets whose seed phrase cannot be stored in photo form. There are many people who cannot save the face of their wallet properly due to lack of adequate knowledge due to which they get cheated in many ways and even lose the funds in their wallet.

Of course knowledge is required in all aspects of life, more especially in this crypto space because if you don't have the knowledge about how crypto investment works, definitely you will keep experiencing lose in the market all the time. but with the help of knowledge we can be able to understand how crypto investment works, and also the strategy to take when making investment so as to avoid experiencing lose in the market

Knowledge is power and as a matter of fact we need more knowledge to succeed each days as we journey along in the cryptocurrency space, alot comes onboard each day and we need to keep updating our knowledge banks to meet up with such demands.


Seems that knowledge is the most important thing even much more important than having the finances, because finances without knowledge will equal to zero on the long run since an unknowledgeable fellow can't control or secure his asset properly.

Every year information and knowledge develops rapidly, sometimes without a teacher we can learn more by self-teaching and without waiting a long time we can master something we want to master, the important thing is there is a desire and intention to learn. Talking about information cannot be separated from the name technologist, currently people's goal in mastering technology is to be able to gain profits in the form of money through various sources of technology, currently there are things from YouTube, blogs, fonts and I myself am currently more interested in Bitcointalk because You can part time, you don't have to stay up late every night to do this work, the important thing is to be consistent and confident in everything you do, if this intention and belief are combined, everything will be successful. After posting, we also have to look for more references from other friends' writings to add to our scientific knowledge.

I once worked as a technician in a mobile phone company before I became the manager. I would have to clear someone's phone memory, fix minor issues and charge for them. Some of these are what the people can do for themselves, but they lacked the confidence to do so. So, since their mind has already concluded that they cannot do it, it will look as if their brains are formatted not to understand anything again. When you have the knowledge, you will not know how important it is until you see someone else monitizing it.

This is what I always say about knowledge which is knowledge is power. Even in the game I played years ago which also show a saying before I can start to play which is the same "knowledge is power". I kind of like the idea of your friend when he ask the person to pay him 30% of bitcoin as his fee for doing it which I have done the same thing myself although it was something else (not crypto related) which I earned money by doing things that I know which the person ask me to do it didn't know.

Knowledge is profitable, which you can see it with your friend you helped to recovered his coins and he has learned some thing positive from you also that will add more profits to him when he solve some issues like this in the future.

 I guess many people are still storing their seeds phrase on their phone despite some stories about some people that lost their phone that carry all their wallets that contain millions of dollars because they feel storing the seeds phrase on their phone is more convince for them than writing them down.

Whoops! The fee might be big that he had paid for just moving his bitcoin, the bigger the holdings he has on the same side he had to pay the fee. Well interesting or sad thing is that as you are saying/aforementioned that he wanted to start a business with that amount he had paid in the form of a fee. Sometimes these things happen uncausally at the undesired/unwanted time but what we can do although we should save our seed phrase our keys offline somewhere at secure place.

Well, I am still confused about the story you shared I mean did he receive the amount from an unknown address? If that so it can be a dusk attack as which in a result his full amount could be compromised by this attack. He did well as he transferred his amount to another wallet but the seed phrase is still the same. This is all I am asking as I did not get your sayings well and if it was a dust attack so I said all these things accordingly.

Was he waiting for this photo to leak onto the Internet from his phone?

I hope he figured out, just in case, to create a new seed phrase (in no case saving it in the photo) to the BTC-address of which he moved the contents of the old wallet.

There are 2 solutions here:
- either spend time searching for knowledge and learning, but save money.
- or spend money on those who spent time searching for knowledge and learning, thereby saving your time.

Depending on the situation (on excess time or money), the choice of solution will be different.

In your story, you focus on something completely different, but your friend still needs to learn a lot before making a business out of knowledge. I left a couple of comments about this a little higher

Don't forget to remind your friend that he owes you "30% of the bitcoins as his fee" for your past help. Well, this should be quite fair by his standards.

You're absolutely right, is just like during examination period if you're this lazy type that does not take his/her studies serous probably at the end of the semester you won't make it up, why those who where busy studying will come out with flying colors, the same thing applicable in the crypto space, you need to take your time to study very well before looking out to any other things. However in terms of crypto trading knowledge is considered as one of the tribute, if you don't have the knowledge there's no way you're going to know what to do, in the process of thinking on what to do probably you might end up in the hands of scammers.

You lose your funds in the hands of scammers because of laziness. What is the point when you know that bitcoin deals with knowledge? Instead of doing your own research, you will always wait for someone else to tell you what to do with your funds. That definitely shows you are just waiting to get the profit in a simple way without more stress from having knowledge. 
 
Because scammers always have hope in the weak and the lazy ones, because those are people that they will find simple to convince, even the scammers scam you with knowledge. That's why it’s been said that knowledge is the key because no scammer is illiterate, and they mostly focus on those that are not ready to learn just to use them and get their profile, so to me, I can say bitcoin is not in any way controversial. 


Normally, when you want to engage in bitcoin trading or bitcoin investment, you need to have another source of income. That is why it is always encouraged to invest the money that you can afford to lose. Because if you don’t have another source that will sustain you even after a loss in trading, you will definitely suffer a lot, and all this is included when we are talking about knowledge. 

So being a trader doesn’t only mean you have to depend on professionals in trading; you are always required to get knowledge through adequate research and recovery that will help you go a long way to survive in the trading space; if not, you will surely regret it.

We need help because we're still growing and there's no limit for one to stop asking for help. Knowledge is consider the first tributes to be in possession of as a trader, learn to keep things roughly tightly and ensure everything comes with different grades. Bitcoin is important for the existence of cryptocurrency and we have investors that doesn't give any concrete information about the project because they have other assets that's doing the up and long runs for them so they're not affected by the huge pumps and heavy dump.

There is nothing controversial about Bitcoin, it is people who fail to understand what Bitcoin is, and all they want is to somehow make money from it, thus their mistakes has nothing to do with Bitcoin. People with knowledge about Bitcoin would not use trust wallet to keep their coins, they would use open source wallets.
Trust wallet is a non custodial wallet, but it is closed source and it is not advisable to use it to keep your Bitcoins.

That might be your opinion on the Op but that might not be true and if you are saying that people are selling their knowledge is the New Gold. Then that has been on ground from the onset of the world. It was an ignorant that made Eve to buy the idea of the devil the serpent, that was also a Gold for him. Then you as person you don't know anything and that is why you are going to school to learn and education is not free, you must pay for tuition fee to acquire the knowledge. And if you would have known then you wouldn't go to school to acquire knowledge so calling knowledge as the new Gold is contradicting your whole philosophy because if it is Gold as you agreed, then it has been like that from the beginning.

And I said, I don't really like what the guy did and probably because it against my philosophy. And in my philosophy if someone taught me free then I will also teach others free. And I think the Holy Bible also started it clearly about the debtor.

People charge you for what you don't know and that is the reason they feed. There is this saying that what you don't know is bigger than you. If actually he or she knows how to do it, it would not require someone to ask for a certain amount of %30. What you just saw was a common thing compeard to some people. Some people may even do it an still steal your prase after doing the work you want them to do for you they will go behind and use it to hack your Wallet. Thats why I always advise anybody that want to go into cryptocurrency, to learn the basics things about Bitcoin before starting to invest. Because Bitcoin is a controversial something that needs to study very well otherwise you end up loosing alot of funds from scammers when you want help from them.

At a point in our life, we pay for things we later discover that it is so easy and simple but because we don't have any knowledge about it makes us to make some sacrifices in other to know it. This is to let us understand that knowledge is money and it is good to acquire knowledge because no knowledge is wasted. I also remember a time when I was new into binance so each time a want to sell my coin I do pay someone to sell my coin on p2p trading, a day came and I said I must learn how to perform this p2p trading then I started making researches both on Google and YouTube, the funny part was that the first day i tried making the trade myself I was watching the step by step on YouTube and after every step i will also go and check the next step till i was able to perform the operation. I was so happy that day and after subsequent trials I was able to do it perfectly and now it's very simple for me as compared to when I had no knowledge of it. I now teach newbies even for free and a lot of them even finds it difficult to comprehend the process so that is how it is. My theory is always that whatever thing someone helps me to do, no matter how long it takes I must learn to do it.

I can't condemn the actions of the guy which you helped by teaching him what to do since his having issues with his trust wallet but I consider it an entrepreneurship skill, entrepreneurs are opportunist and since you have have the knowledge with you but not making money out of it, as an entrepreneur your friend took the opportunity to make some cool cash from other guys who will be facing such issues. It's a very good idea to make money out of your knowledge.

In the world today knowledge is the key to success, but the knowledge has to be the right knowledge, one you begin to have good knowledge about something you could make a good living out of it by just educating others on your own little knowledge.

Perhaps the statement or title of this thread is a philosophical statement, it doesn't not really need to be connected to what is in the content but it's all related.

Knowledge is New Gold, practically means that knowledge is beginning to become valued or it's increasing with value now, hence people are beginning to pay for little knowledge which they lack . It also means knowledge is becoming source of income or a store of value like gold, if you invest in knowledge it could pay you good profit just as investing golds and the profit for knowledge is likely the 30% of BTC which the guy is about to cut out if the person who lacks the knowledge. Perhaps one need to read the content of the post to truly understand what is meant by knowledge is New Gold

I think it is only a stupid thinker who will pretend to know what he doesn't know because it will only take a matter of time before the foolishness will cost him a great loss. When it comes to crypto related issues, is very difficult for a newbie or a person without knowledge to brag about what they know nothing about because a simple answer will expose the ignorance of the person and his ego will be brought down or the bragging will lead such person to loss since he has refused to get knowledge that he doesn't have. Growth comes with a lot of sacrifices and getting knowledge is the sacrifice you pay to get the knowledge that can help you to grow here and anywhere else.

Yeah that's the perfect sentence and also the perfect example to back it off. The way you have written it is fantastic. Knowledge is the most important thing after the skills in the world of trading and without it one may suffer alot.In the example you mentioned if you wouldn't have given him the advice he would have struggled alot while transfering them.

This struggle will lead to the journey of search on different social media platforms and after trying so many techniques and ways you'll be successful.This success is not guaranteed you may lose certain assets while trying different techniques so it is better to have a deep knowledge or be with someone who could help you with it.

This is why when newbies come on the platform newly they are always advised to focus more on getting the knowledge and not rushing to make Post and start Merit hunting which at the end of the day they end up without knowing the basics and the needed knowledge the should get to help their career in the crypto space be a success rather they want to quickly earn merits and rank up. There has been no time that gaining knowledge has been a waste or has been not useful, every knowledge at every point gets to be useful one day but you just have to keep learning because learning never ends, there's always something new to learn at every stage and not to ever think you have gone above knowledge.

The knowledge you have at some point will equate your earnings because there are some knowledge you will have and you will be paid heavily to share and yourself will actually not get such knowledge for free you have got to pay for it too at some point and that's why it's not freely given out but in this forum you get to see some very vital knowledge and you get them for free so let's always try to utilize this opportunity of learning as we can actually earn from such knowledge in the nearest future.

I believe it's fantastic to help individuals and educate them on how to use Bitcoin responsibly. And it's critical to ensure that individuals get the knowledge they need to make sound financial decisions. On another topic, I believe it's fascinating that your friend's experience emphasizes the trade-off between convenience and security when it comes to cryptocurrency, because many individuals prefer to access their cryptocurrency via a mobile app such as Trust wallet. However, as your friend's tale demonstrates, there are hazards involved with such strategy, which individuals should seriously consider before making any decisions.

Most people underrate what it entails to have knowledge,  in our today's society, he who has knowledge has silver and gold in his arms, but not everyone has the ability to use it to acquire wealth, most people give it out for free, and they are struggling financially in real life, so it all depends on the persons involved.

I knew all lot of people that are knowledgeable about this crypto industry we found ourselves, that had practically used it to change their financial level, and they have benefited a lot from the knowledge they possess, so it's true that knowledge is worth more than silver and gold in today's society.

How did you get your bitcoins back? I don’t recommend anyone use closed source wallets. Electrum and Blue wallet are both good bitcoin wallets. Unstoppable wallet is also good for those who have a diverse portfolio of altcoins and bitcoin.

That wasn’t always the case. Trust wallet allowed users to screenshot their seed phrase in the past, they only made it impossible to screenshot one’s seed phrase a few years ago.   

This is really appropriate.
Knowledge, is a very important thing, when we come into contact with anything, especially in the crypto space. We can't just rely on luck, patience, the success of friends, or participation in certain VIP members. However, without knowledge, it will not be successful enough to be optimal. Knowledge is not limited, even as we get deeper into it, we will feel that there are more and more things we don't understand.

Meanwhile, in the crypto world, knowledge is very important, at least as an initial understanding of crypto, about the risks, how to prepare, how to manage it and so on. This will definitely be quite easy if you look at it, but it's still not that easy.

If we have sufficient knowledge, and if we continue to explore it, then our opportunities for investment in crypto will become longer and more numerous.

What is also very important is that it is not only about the money we have for investment and also high hopes for taking profits. but deeper than that. And with this, in fact, a person does not need to be arrogant and greedy, because they understand that crypto is risky and something unexpected might happen.

If you act to know too much when you do not know enough, you have hindered your chances of knowing better. The smartest person in the room is not always the loudest, the smartest is the person who keeps calm so they can learn more from other people when they talk. Knowledge can only be gotten from listening or from reading, and if you are too loud that you never listen, you will never learn and gain knowledge. If you think you know too much that you cannot read too, you will also not be able to gain knowledge. To gain knowledge, you need to be willing to listen, and to read.

There's one thing we need to be careful in when it comes to acquisition of knowledge, we shouldn't make pretense in it in such a way that when we lack the knowledge, we claim we have the knowledge, we are not deceiving anyone than ourself, its not also what we should brag or boast about because we want to impress others and depress some, afterall, the learning process is a continuous one, what we know today might have been outdated by tomorrow and if we don't learn, we cant grow and improve.

Indeed, this usually happens to rich people who are too lazy to use their brains, how could it not be for something as simple as writing an email, they order someone and pay them. but it's good that at least you can make money just by giving step by stem import seeds to electrum lol, it sounds funny in cases like this, but people like this are true. the cause is laziness in looking for something and wanting instant things.

He must have used a second phone to take the picture because you can't take a screenshot of your seed phrase using the same phone.



Personally one of the things I learnt here over the years is to verify every information before applying it for my works, yes the source of your information may be right but you may need to make a little research to find out if what you were told is just as it sounds so that you don't end up regretting later when it turns out the opposite side. NO knowledge is a waste but when it comes to cryptocurrency related information, there are certain things you don't even discuss with people even the things you get from people should not be applied without proper research, investigation and conclusion else regret will be the had I know.

. Every knowledge have a source and it will need to verify if that source is legitime and accurate so that knowledge can use anytime . Anyways nowadays are too many fake information so like what you said it's will need to search more and once we got our answer then that's the time we use that knowledge. Knowledge is gold if a person are knowledgeable then that is his/her treasure that no one can steal but it is shareable.

it is true that knowledge is the new gold in modern times like today. because with the increasing development of technology and the increasing variety of innovations, especially in the crypto world, people need to update their knowledge, so that they can save more or prevent something detrimental from happening to them.

but even though knowledge is quite important, verifying it is also no less important. because there is too much wrong information everywhere, that's why people also need to ask or verify this knowledge, so that it won't harm them.

I'm glad to know that. As they say, "Knowledge is power," and I think that joining this forum has been incredibly beneficial because it has allowed us to connect and share ideas with one other. We are really fortunate to be here. I didn't think I needed to when I initially joined the forum, but the more time I spend here, the more I learn. You've just given me another idea on how to earn money on my own. 😃

This reminds me of a brother who had a crypto wallet on his phone and one day the phone fell and stopped working, and he took the phone to a repairer, two bad things happened and I confused him to get the repairer arrested.

1. The repairer told him that the phone couldn't work again and that he should get a new phone.

2. He got a new phone and imported his recovery seed and all his crypto was gone.

This case turned into a police case and since the law agents don't even understand how a crypto wallet works I was there and I shed light into the darkness, it turned out that the repairer stole the crypto assets and sold them all for Fiat, he was granted a bail after he sent all the money back and he also paid some fine too.

Sometimes, some things will happen and that's not because of your own mistakes but because you can't control what's about to happen, all we can do is be prepared for any possibility.

I think this issue is very common with trust wallet, this is an issue that Is beyond explanation which I think keeping bitcoin in trust wallet is not safe anymore. I have same experience like this sometime ago that I thought I have lost my bitcoin,  after I was able to get my bitcoin back it was the end if me making use of trust wallet to store Bitcoin. Experience like this can never happen in a non custodial wallet,  if a wallet keeps doing mysterious things that one can't explanation I think it will be too risky to be so relaxed using such wallet for storing bitcoin. Their are good wallets one can look up to for storing bitcoin.

Don't forget learner's are Earners and that's same principle he applied here while aside having this knowledge your friend is also good in entrepreneurship

Base on Op post her friend has been a p2p trader for about 3 years now and you should be aware also that Trust Wallet didn't start with this feature with time this feature and others were added to Trust Wallet to make it secure.

I think this might be his first crypto wallet he created and this is why it's also advisable not to use the first wallet you created as a newbie to store your funds especially since one might be lacking in knowledge in effectively keeping the wallet secured and if any person having malicious intention has access to something like this then their coins are gone no matter how knowledgeable such a person may be now.

Coming from someone who is a big user of Trust Wallet, I believe that Trust Wallet will never allow you to take screenshots of your seed, how did he do it? On a rooted phone or a second phone? Because these are the only possible ways that I know.

Anyway, he have already messed up big time, he must abandon that crypto wallet and get another and never must he take screenshot of the recovery seed ever again, our smartphones are not really ours, because the company that make the phone has their ways.

Either its Google phone or Huawei, they have their ways of getting information on phones and also some applications we install on smartphones are not 100% reliable, some will steal your data without you knowing, recovery seeds are always safe offline, writing them down in a book is ever a more safer practice.

Knowledge is gold, power and priceless, without it people are vulnerable and lost, so it's important to seek diligently for it, otherwise the person might never get effective results, although it's not easy to be knowledgeable in every areas of life, but it's important to have basic knowledge of your interests in life. A crypto investor must research and know the basic concepts of the crypto space, fundamental knowledge about wallets and how to guide against scams and hacks.

Your experience from your friend that charged another person money to fix a problem that the person ought to know, shows that people without knowledge will always pay price for their ignorance.

Your friend is a real businessman, lol. I believe you should also get a share of every business deal he makes by helping people with their wallets since you were the one who initially taught him how. Well, that being said, knowledge truly is power. It's another reason why I would advise anyone on this forum to be grateful for the opportunity to be here, all for free. I've gained so much knowledge on this forum, more than ever before. Many people are often surprised by how much I know about wallets and cryptocurrency, even though they haven't seen me trade before.

As for your friend storing his seed phrase as a photo, that's the worst idea, even worse than saving it online, which is also incorrect. I think most people, out of ignorance or lack of knowledge, don't really understand how to keep their funds safe. Trust Wallet isn't advisable as it's very unsafe. Most wallets don't allow you to take screenshots of your seed phrase, but he actually did, which is surprising. When it comes to the security of our funds, we should prioritize it as Bitcoiners and avoid anything that could risk losing our funds.

Your friend took a screenshot of his wallet seed and uses a closed source wallet like Trust. Unfortunately, most traders come from a purely economic background and do not want to learn the basics. Their only argument is that since I did not lose my money, this means that I am safe, so stopping using a closed source wallet like Trust is only necessary. Such as not saving the wallet seed digitally or in an unencrypted version, such as taking a screenshot of it.
If the wallet is well programmed, it will most likely not allow him to take a screenshot.

Screenshot and store it as an image for back up, it is risky. Advise your friend to read.

How to back up a seed phrase?

I did not see you mention anything about the following step.

Your friend should abandon that wallet, and use a new wallet because there is no way to know that wallet was compromised or not. In worst case, there are some people got access to that wallet backup but they just didn't take any action. If your friend fund that wallet with big valued bitcoin, maybe the hacker will take action.

This is why it's said that education is a blessing because a well-educated person would learn all these things before they get involved. I can't imagine buying Bitcoin or using it if I don't have any knowledge about how I can keep it and how other similar things work around it and that is because I'm educated and I know I can learn everything if I do some research because nothing is hard to learn if you know how to read and understand stuff.

So as I was saying, education is a blessing. Just like how your friend charged the person 30% of the amount for getting his work done, you can't imagine how people would be ready to pay you money for doing things that are nothing at all. A person once asked me to check why he isn't able to make phone calls with his mobile phone, when I checked, he had some option disabled in the network settings and I corrected it, he asked me how much I would charge for that. I said it's nothing, you don't need to pay me for this, but I was shocked to see that and it also made me realize how powerful knowledge and education can be.

We need more education about digital security.

There are still so many unaware of the risks of storing seed phrases online, underscoring the knowledge gap that exists even among those who are involved in this space. This technology can provide us with incredible opportunities, but it also comes with its own set of challenges that we must be prepared to navigate.

Even though the information needed to solve the problem was freely available, people were willing to pay for someone else’s knowledge and experience. It only means that in our information-rich world, the ability to effectively use and apply information is just as valuable, if not more so, than the information itself.

That’s not a good enough reason convince someone that they should not use a particular bitcoin wallet. To be honest, Trust wallet is easy to use. However, I do not like Trust wallet because it is closed source and because of its affiliation with Binance. If feels as if I’m storing my bitcoins in a centralized exchange.

He’s not my apprentice. I was very happy to help a friend in need and expected him to do the same for someone else but it didn’t take him long to start exploiting people’s ignorance for personal gain. There is so much information available on the internet yet it seems like the world is getting dumber every day or is it that people have become so lazy to do anything for themselves. This new venture of his will not be successful if these bitcoin investors had a decent knowledge about bitcoin wallets and blockchain.

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.