There was this post I came across today while scrolling through
reddit, this person lost 2 bitcoin after 8 years of stacking. Frankly speaking, what touched me was not even the amount this person lost, but the sentence he made
"it is not about finishing the race first, at this point, i just want to finish" that line stayed in my head.
Ah, another victim of Coldcard. 2
BTC is a significant loss, especially considering its potential future value.
Here on Bitcointalk we are more focus on discussing about bitcoin in terms of price, cycle, ETFs, adoption, and numbers going up, meanwhile, behind every wallet there is a real person who have spent years making sacrifices to accumulate bitcoin.
This is the typical path for most (small)
BTC-investors. Or do you think every
BTC-investor throws money around left and right and buys bitcoin with their spare cash?
And there was a part in the post where he said that bitcoin gave him peace of mind because they had inflation, a weak currency and financial uncertainty, And this made him to see bitcoin as form of protection, and not a get rich quick scheme or investment.
Bitcoin can be considered an alternative pension fund.
This is where things got serious, this dude was not only questioning his security set up, he even questioned his belief in bitcoin itself, and this made me think of something we rarely discuss here on bitcointalk which am going to leave you guys with this question.
That means this users conviction in bitcoin was weak. The fact that a Coldcard was compromised doesn't mean bitcoin is a bad investment. Instead of blaming bitcoin for the failure and the shattering of his dream of future prosperity, he should have taken some precautions himself. For instance, he kept all his bitcoin holdings in one place. Had he never heard of diversifying risk?
The weak despair and give up. The strong analyze past mistakes to prevent them from happening again and take steps to rectify them.
People let their guard down and placed their full trust in a single manufacturer, forgetting the fundamental principle of owning bitcoin: total personal responsibility for one's assets.
Incidentally, that Reddit user mentions bitcoin-ETFs, claiming he should have invested in those instead. This is clear proof that bitcoin isn't for him. Id say he is a classic customer of the traditional banking system; his place is keeping his money in a bank account (where the bank, not he, handles any problems that might arise).
When people lose their bitcoin investment what exactly do they lose? because it is not only money.
As I understand it, for him, this was ultimately money wrapped in the hope of a financially secure future.
