Somebody was friendly enough to post the 8 laws of Bitcoin into the bitcoin subreddit. So we translated it into a blogpost for you:
- Never Discuss Your Bitcoin – Don’t ever disclose the amount of Bitcoin you have with anyone. Ever.
- Not Your Keys, Not Your Bitcoin – If your Bitcoin is not stored safely in your wallet, you do not own it. If you leave Bitcoin on an exchange, you do not own it.
- If It’s Too Good To Be True – Nobody in this world wants to give you free Bitcoin. Nobody wants to double your Bitcoin. Nobody wants to offer you a business opportunity. It’s a scam. It’s a scam. It’s a scam.
- Your Seed Is Your Key – Your 24 word seed gives access to your Bitcoin. Back up your seed and store this in a secret place offline. Anyone that has this seed can take your Bitcoin.
- Double, Triple, Quadruple Check – When sending or receiving Bitcoin, double, triple, and quadruple check that the addresses are correct. One incorrect character can cause you to lose your Bitcoin.
- Check Those Links – Anytime you buy, send, or receive Bitcoin, make sure you have a verified legitimate link, url, or website. There are a lot of scamming websites aimed at taking your Bitcoin.
- Everyone Has An Opinion – Everyone has an opinion on Bitcoin. Take it with a grain of salt. Never listen to one single individual and do your own research.
- Investing – Never invest more than you can stand to lose.