Bitcoin knows rules, not rulers.
A bitcoin education site
🫂 Welcome to Bitcoin Knows
Embarking on the journey to understand Bitcoin can be both exciting and transformative. This platform is designed to provide you with clear, essential insights into the world of Bitcoin, its significance, and its potential impact on our financial future.
🧠 Understanding Bitcoin
At its core, Bitcoin is a decentralized digital currency that introduces the concept of digital scarcity. Unlike traditional currencies, which can be printed at will, Bitcoin's supply is capped at 21 million, ensuring its rarity and value preservation. This scarcity is a fundamental shift in how we perceive and interact with money.
💡 Why Bitcoin Matters
In today's financial landscape, many individuals face challenges due to centralized monetary policies and inflation. Bitcoin offers an alternative—a system where you have full control over your assets without relying on intermediaries. It's more than just a currency; it's a movement towards financial sovereignty and inclusivity.
⚔️ Building Resilience
Bitcoin's design makes it antifragile, meaning it becomes stronger in the face of challenges. Its decentralized network is maintained by nodes—individuals like you running Bitcoin software—ensuring security and resilience. By participating, you contribute to a robust financial system that's resistant to centralized failures.
🚀 Join the Community
Whether you're a skeptic, a newcomer, or someone seeking deeper understanding, this resource is here to support your exploration. Dive into curated articles, engage with thought-provoking content, and discover how Bitcoin is redefining the concept of money in the digital age.
Unit 1: What problem does bitcoin solve?
➡️ Bitcoin: The Escape from Monetary Manipulation
For centuries, inflation has been used as a hidden tax—an invisible force that erodes wealth without consent. It allows governments to fund war, ineffective programs, and unsustainable policies without direct taxation.
"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
— John Maynard Keynes
"Inflation is taxation without legislation."
— Milton Friedman
As money loses its ability to store value, individuals become more dependent on the financial system. Wages stagnate, savings are drained, and economic instability follows. Inflation is not just an economic phenomenon—it is a tool of control.
"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation."
— Vladimir Lenin
Bitcoin offers an alternative. With a fixed supply of 21 million coins, Bitcoin eliminates the possibility of monetary debasement. Its issuance is mathematically programmed, not dictated by political agendas or central banks.
"The fact that new coins are produced means the money supply increases by a planned amount, but this does not necessarily result in inflation. If the supply of money increases at the same rate that the number of people using it increases, prices remain stable."
— Satoshi Nakamoto
🤔 The Problems Bitcoin Solves
📉 1. Inflation & Currency Debasement
Governments devalue currency by printing more money, reducing individual purchasing power. Bitcoin restores scarcity to money—no one can arbitrarily increase its supply.
💸 2. Unchecked Government Spending
Fiat money allows governments to finance endless war, inefficiency, and debt accumulation. Bitcoin’s decentralized, hard money principles prevent manipulation for political gain.
👀 3. Financial Privacy & Sovereignty
Banks demand personal information and impose restrictions on how money is used. Bitcoin is permissionless and censorship-resistant, allowing individuals to transact freely without reliance on centralized intermediaries.
Bitcoin is not just another form of money—it is an exit from a broken system, a return to sound money principles, and a path to financial sovereignty.
✅ Fix the Money, Fix the World.
Recommended videos:
Recommended articles:
Recommended book:
Unit 2: Debunking bitcoin myths and misconceptions:
Bitcoin disrupts the status quo, and with that comes fear, uncertainty, and doubt (FUD)—often spread by those who misunderstand it or stand to lose power. Let’s separate fact from fiction.
1️⃣ “Bitcoin Is Too Volatile to Be Money”
✅ Truth: All new assets experience volatility as they establish market value. Bitcoin’s volatility is decreasing over time, while fiat silently loses purchasing power through inflation.
2️⃣ “Bitcoin Is Used for Crime & Ransomware”
✅ Truth: Less than 1% of Bitcoin transactions are illicit—compared to trillions laundered through banks. Bitcoin’s transparent ledger makes it a terrible tool for criminals. Cash and offshore banking remain the preferred choice.
3️⃣ “Bitcoin Is Just for Gambling & Speculation”
✅ Truth: Bitcoin is used globally for saving, remittances, and escaping oppressive regimes. Fiat is also used for speculation, but no one suggests banning the stock market or dollars.
4️⃣ “Bitcoin Is Bad for the Environment”
✅ Truth: Bitcoin mining incentivizes renewable energy, capturing wasted power that would otherwise go unused. Traditional banking, gold mining, and military spending consume far more energy.
5️⃣ “Bitcoin Will Be Banned”
✅ Truth: Bitcoin cannot be banned—only restricted. Countries that tried (China, Nigeria) only drove adoption underground. Just like encryption and the internet, Bitcoin is here to stay.
"It's hard to imagine the Internet getting segmented airtight. It would have to be a country deliberately and totally cutting itself off from the rest of the world."
— Satoshi Nakamoto
6️⃣ “Bitcoin Is a Ponzi Scheme”
✅ Truth: Bitcoin has no central authority, no promised returns, and no reliance on new investors. The real Ponzi scheme? Fiat currency, backed by endless debt and government manipulation.
7️⃣ “Bitcoin Has No Intrinsic Value”
✅ Truth: Bitcoin’s value comes from scarcity, decentralization, and censorship resistance—just like gold. Meanwhile, fiat has no intrinsic value beyond government decree.
"Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment."
— Ludwig von Mises
8️⃣ “Quantum Computing Will Break Bitcoin”
✅ Truth: Quantum computers are nowhere near breaking Bitcoin’s cryptography. Even if they advance, Bitcoin can be upgraded long before it becomes an issue.
9️⃣ “Government Control Over Money Makes Society Safer”
✅ Truth: Government control over money has historically led to financial censorship, wealth confiscation, and economic manipulation.
Freezing bank accounts for political reasons (Canada’s 2022 trucker protests).
Hyperinflation caused by reckless money printing (Venezuela, Zimbabwe).
Weaponization of the global financial system (U.S. sanctions, IMF policies).
Bitcoin ensures no government can arbitrarily freeze assets, debase money, or restrict financial participation. True safety comes from financial independence, not centralized control.
"Governments are good at cutting off the heads of centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."
— Satoshi Nakamoto
🔟 “I’m Too Late to Bitcoin”
✅ Truth: You are not too late. Bitcoin adoption is still in its early stages—less than 2% of the world owns Bitcoin, and institutional adoption has barely begun.
Owning even a fraction of a Bitcoin (sats) is meaningful.
Bitcoin’s global monetary role is still developing.
Most people today still don’t understand it—early adopters have an advantage.
The best time to buy Bitcoin was ten years ago. The second-best time is now.
1️⃣1️⃣ “Bitcoin Is Not Backed by Anything”
✅ Truth: Bitcoin is backed by the most reliable economic forces—mathematics, decentralization, and energy. Unlike fiat, which is backed by government promises and military force, Bitcoin is secured by:
Proof-of-Work (PoW): Energy expenditure ensures its network security.
Scarcity: A fixed supply of 21 million coins, unlike infinite fiat printing.
Decentralization: No single entity controls Bitcoin.
Global Consensus: Bitcoin’s value is determined by the free market, not a central authority.
Fiat is “backed” by central banks, which can debase its value overnight. Gold is backed by physical properties and demand. Bitcoin is backed by mathematical certainty, network security, and trustless verification.
1️⃣2️⃣ “Bitcoin Can’t Scale (or Be Used for Payments)”
✅ Truth: Bitcoin’s base layer is intentionally optimized for security and decentralization, not speed—but this does not mean it cannot scale.
Lightning Network: Bitcoin’s second-layer solution enables instant, nearly free transactions, allowing it to scale to billions of users.
On-Chain Settlements: Bitcoin acts as a global settlement network, similar to how central banks settle transactions, while layers like Lightning handle day-to-day payments.
Historical Precedent: The internet, email, and telephony all scaled through layered architecture, not by making the base layer do everything.
Bitcoin is following the same proven model of technological scaling. The banking system settles transactions in batches, and Bitcoin does the same—but without the need for trusted third parties.
Scaling does not mean compromising security. Bitcoin scales in layers, just like every transformative technology before it.
1️⃣3️⃣ “Bitcoin Is Too Slow”
✅ Truth: Bitcoin is slow by design—and that’s a good thing.
The base layer prioritizes security and decentralization over speed, just like gold does in the physical world.
The Lightning Network enables instant payments, solving speed concerns while preserving Bitcoin’s integrity.
Comparing Bitcoin’s speed to Visa ignores the difference between a base-layer monetary network and a high-throughput payments system.
Bitcoin doesn’t need to be fast—it needs to be final.
By prioritizing security and decentralization, Bitcoin ensures it cannot be changed or corrupted, which is what gives it long-term value. Payments are handled by layered solutions (just like cash, credit cards, and wire transfers settle on different layers in traditional finance).
1️⃣4️⃣ “Bitcoin Competes With the Dollar (or Other National Currencies)”
✅ Truth: Bitcoin doesn’t compete with national currencies—it competes with monetary debasement and financial control.
Bitcoin is not here to replace the dollar immediately but to provide an alternative to inflationary policies.
Just as gold coexisted with fiat for centuries, Bitcoin serves as a parallel system for those seeking financial sovereignty.
Countries with weak currencies (Argentina, Lebanon, Nigeria) are already seeing grassroots Bitcoin adoption as an escape from hyperinflation and capital controls.
💡 Perspective: Bitcoin is a lifeline for those in collapsing monetary systems and a hedge for those in stable ones. It doesn’t have to replace the dollar to be valuable.
1️⃣5️⃣ “Bitcoin’s Fixed Supply Is a Flaw—It Needs Inflation to Work”
✅ Truth: The idea that money must be inflationary is a Keynesian economic assumption—not a universal truth.
Gold worked as money for thousands of years with minimal inflation.
Deflationary assets (like Bitcoin) encourage saving, not reckless spending, which leads to long-term capital formation and prosperity.
A fixed supply means Bitcoin cannot be manipulated for political or economic agendas, ensuring fair monetary policy for all participants.
💡 Perspective: The economy doesn’t need inflation to grow—productivity and innovation drive real economic progress, not money printing.
1️⃣6️⃣ “Bitcoin Is Just Another Tech Fad”
✅ Truth: Bitcoin is not a startup, an app, or a tech trend—it’s a fundamental rethinking of money.
Every year, Bitcoin survives and strengthens, proving it is not just a passing trend.
Bitcoin has outlasted thousands of altcoins, government bans, media attacks, and bear markets, yet it continues to gain adoption.
The internet, personal computing, and encryption all faced early skepticism—Bitcoin is following the same adoption curve.
💡 Perspective: If Bitcoin were just a fad, it wouldn’t still be here, stronger than ever, after 15 years of relentless attacks.
1️⃣7️⃣ “Bitcoin’s Code Can Be Changed to Increase the Supply”
✅ Truth: Bitcoin’s 21 million cap is enforced by economic consensus, not just code.
Any attempt to increase Bitcoin’s supply would be rejected by the majority of users and nodes.
Unlike fiat money, Bitcoin is secured by free-market incentives, not government decree.
If anyone forks Bitcoin to increase the supply, the original hard-capped Bitcoin will retain value, while the forked version would become worthless.
💡 Perspective: Changing Bitcoin’s supply would destroy its entire purpose—no rational Bitcoin holder would ever support it.
1️⃣8️⃣ “Central Bank Digital Currencies (CBDCs) Will Replace Bitcoin”
✅ Truth: CBDCs and Bitcoin are not competitors—they are opposites.
CBDCs are centralized, programmable money controlled by governments—they offer less privacy and financial freedom.
Bitcoin is decentralized, permissionless, and resistant to censorship—it protects financial autonomy.
A CBDC is just another form of fiat, subject to the same inflation, debt, and policy manipulation issues that Bitcoin was created to solve.
💡 Perspective: Governments will push CBDCs to maintain control, but people will adopt Bitcoin to preserve their financial sovereignty.
🛡️ Conclusion: Bitcoin Is Resilient
Bitcoin is not an experiment—it is a monetary revolution. It has survived attacks from governments, banks, media, and skeptics, yet it continues to grow. Why? Because it solves real problems.
Like the printing press, the internet, and encryption, Bitcoin cannot be uninvented. No matter how much opposition it faces, its decentralization ensures survival.
Bitcoin is not just about fixing money—it’s about securing financial freedom for future generations.
"If there must be trouble, let it be in my day, that my child may have peace."
— Thomas Paine
Bitcoin represents personal sovereignty, protection against inflation, and an escape from a failing financial system. It is not perfect, but its continued survival proves its necessity.
Recommended articles:
Unit 3: The allure of altcoins; why bitcoin stands alone:
Bitcoin is often grouped with thousands of cryptocurrencies, but this is a false comparison. Bitcoin is a one-time breakthrough in trustless value transfer, while most altcoins are speculative investments, scams, or centralized projects disguised as decentralized money.
“Bitcoin’s solution is to use a peer-to-peer network to check for double-spending. The network works like a distributed timestamp server, stamping the first transaction to spend a coin.”
— Satoshi Nakamoto
Bitcoin solved digital scarcity and decentralized value transfer—something that had never been done before. Altcoins claim to improve Bitcoin on some metric (speed, block size, privacy, mining accessibility, etc.), but these trade-offs always come at the cost of decentralization, security, or censorship resistance.
“I don't believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network.”
— Satoshi Nakamoto
Altcoins sacrifice security for speed, decentralization for control, and immutability for governance. Thus far, no other project has been able to replicate Bitcoin’s trustless design, its global decentralization, and its permissionless final settlement layer.
🔍 Why Altcoins Fail as Money
1️⃣ There Are No Free Lunches – Everything Has Trade-Offs
✅ Bitcoin prioritizes decentralization and security.
❌ Altcoins optimize for speed, cost, or features at the expense of trustlessness.
💡 Example:
Larger blocks (e.g., Bitcoin Cash, BSV) make it harder for individuals to run full nodes, leading to centralization.
Proof-of-Stake (Ethereum) shifts power to those who already own the most coins, reinforcing wealth inequality.
“More private” coins (Monero, Zcash) often lack auditability, leading to security flaws.
🔹 Bitcoin was engineered to be secure, decentralized, and permissionless—everything else is a compromise.
2️⃣ Most Altcoins Are Securities & Centralized Scams
✅ Bitcoin was fairly launched with no pre-mine or insiders.
❌ Most altcoins are pre-mined, enriching founders and early investors at the expense of retail buyers.
💡 Example:
Ethereum’s initial supply was pre-mined, meaning insiders got an unfair advantage.
Solana, XRP, and countless others are controlled by small teams that print new tokens at will.
Most altcoins are marketed as “the next Bitcoin” to lure in greedy investors, only to trend to zero against Bitcoin over time.
🔹 If a project has a founder, marketing team, or insider allocation, it’s a security—not decentralized money.
3️⃣ Altcoins Ride Bitcoin’s Success & Collapse Without It
✅ Bitcoin leads the market—altcoins are dragged along but eventually bleed against BTC.
❌ Altcoins temporarily pump during speculative bubbles but collapse once the hype fades.
💡 Example:
Every bull cycle, thousands of altcoins are created, only to die out once the market crashes.
Bitcoin dominance rises over time as speculative mania fades and investors return to sound money.
🔹 Bitcoin is a long-term savings vehicle. Altcoins are short-term gambling schemes.
4️⃣ Bitcoin’s Network Effects Are Unmatched
✅ Bitcoin has the strongest network, security, and adoption.
❌ Altcoins struggle with liquidity, adoption, and decentralization.
💡 Example:
No other cryptocurrency has achieved Bitcoin’s level of decentralization, mining security, and regulatory clarity.
Most altcoins are thinly traded and rely on centralized exchanges for liquidity.
Bitcoin has global regulatory recognition as a commodity, while altcoins face legal scrutiny as securities.
🔹 Bitcoin’s dominance is not accidental—it is the only digital asset designed to last.
🚨 The “Cheap Coin” Illusion & Unit Bias
Newcomers often fall for unit bias—thinking owning 1,000 of a cheap coin is better than owning 0.01 BTC. This is a mental trap:
🚫 "Why buy 0.01 BTC when I can buy millions of Dogecoin?"
✅ Answer: Because the number of units doesn’t matter—only the total market value and security of the network do.
Bitcoin is not expensive—altcoins are just worthless.
🛡️ Conclusion: There Is No Second Best
Many altcoins claim to be "the next Bitcoin", but Bitcoin is a one-time invention—like the internet itself.
“There is no second best.”
— Michael Saylor
Most altcoins are vehicles for speculation and insider enrichment, not serious alternatives to Bitcoin.
💡 Ask yourself:
Does this coin solve a real problem Bitcoin doesn’t?
Does it offer true decentralization, security, and immutability?
Or is it just another hype-driven investment scheme?
The answer, almost always, is that Bitcoin already does what’s needed.
🚀 Altcoins compete with each other. Bitcoin competes with central banks.Altcoins are distractions. Bitcoin is the revolution.
Recommended articles:
Unit 4: bitcoin's origin story:
Bitcoin did not appear out of nowhere. It was the culmination of decades of research and experimentation by cryptographers, mathematicians, and computer scientists—a movement known as the Cypherpunks.
For years, these pioneers had been trying to create trustless digital money, free from government control and centralized banks. The challenge was daunting: How do you create money that exists purely in digital form, yet cannot be copied, censored, or manipulated?
"Writing a description for this thing for general audiences is bloody hard. There's nothing to relate it to."
— Satoshi Nakamoto
Bitcoin was the first and only solution that succeeded where all others failed.
🌍 The Cypherpunk Roots – A Fight for Privacy & Freedom
The Cypherpunk movement began in the 1990s, driven by a core belief: that privacy is essential for a free society. These pioneers saw how governments and corporations were moving toward mass surveillance, financial control, and digital authoritarianism.
"None are so hopelessly enslaved than those who falsely believe they are free."
— Johann Wolfgang Von Goethe
They worked on cryptographic tools like PGP (Pretty Good Privacy), anonymous remailers, and encrypted messaging, believing that strong encryption was the only way to protect individual freedoms in the digital age.
One of their biggest ambitions? A form of money that could exist outside government control.
💡 Early Attempts at Digital Money
Before Bitcoin, several attempts were made to create trustless, digital cash:
DigiCash (David Chaum, 1989) – A cryptographic money system, but it required trust in a central company.
Hashcash (Adam Back, 1997) – Introduced Proof-of-Work to prevent spam but wasn’t designed for money.
b-money (Wei Dai, 1998) – Proposed decentralized digital currency but lacked a working model.
Bit Gold (Nick Szabo, 1998) – The closest predecessor to Bitcoin, but it relied on a trusted party.
Each attempt had a fatal flaw—they either required trust in a central entity, or they lacked a way to prevent double-spending without a trusted third party.
"If I have seen further, it is by standing on the shoulders of giants."
— Isaac Newton
Satoshi Nakamoto built upon these ideas and introduced something new:
A decentralized ledger (blockchain) to record transactions transparently.
Proof-of-Work (PoW) to secure the network without trust in a central authority.
A fixed supply (21 million BTC) to prevent inflation or monetary manipulation.
This was the missing piece—a truly trustless system that no one could control, change, or counterfeit.
⚡ The Genesis Block: Bitcoin Is Born
On January 3, 2009, Satoshi Nakamoto mined the first Bitcoin block—the Genesis Block. Embedded inside was a message:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
It was a clear statement—Bitcoin was created in response to the failures of the financial system.
Unlike fiat currency, which is printed at will, Bitcoin was designed to be scarce, verifiable, and resistant to political manipulation.
🕵️ Who Was Satoshi Nakamoto?
To this day, Satoshi Nakamoto’s identity remains unknown. He, she, or they disappeared in 2011, handing over Bitcoin’s development to the open-source community.
"To be left alone is the most precious thing one can ask of the modern world."
— Anthony Burgess
Some believe Satoshi was an individual genius; others think it was a group of cryptographers. What matters is that Bitcoin was released without a central leader, company, or foundation—ensuring it remains truly decentralized.
"I don't know why people are so keen to put the details of their private life in public; they forget that invisibility is a superpower."
— Banksy
Satoshi’s final act of brilliance was disappearing—leaving Bitcoin to the world, without a figurehead to control or corrupt it.
🛡️ Conclusion: A One-Time Discovery
Bitcoin wasn’t just another tech innovation—it was a monetary revolution decades in the making. It solved the hardest problem in digital trust and created the first truly scarce digital asset.
Unlike fiat money, which is printed recklessly…
Unlike altcoins, which are centralized experiments…
Unlike failed digital cash attempts before it…
Bitcoin is the only digital money that cannot be controlled.
Recommended videos:
Recommended articles:
The Right to Read: A Dystopian Short Story by Richard Stallman
A Declaration of the Independence of Cyberspace by John Perry Barlow
Cyberspace, Crypto Anarchy and Pushing the Limits by Tim May
For a more technical overview of bitcoin's origins and the problems it has solved in computer science, please visit: The Satoshi Nakamoto Institute.
For more technical overview of bitcoin's inner-workings: Understanding the Technical Side of Bitcoin by Pierre Rochard
Another beautifully written article by Der Gigi on the origins of bitcoin can be found here: Magic Internet Money
Unit 5: How do I get started?
Entering the world of Bitcoin can feel overwhelming, but it doesn’t have to be. Getting "off zero" is the most important step—you don’t need to know everything right away.
“A journey of a thousand miles begins with a single step.”
— Lao Tzu
Bitcoin is about personal responsibility, and the key to protecting your wealth is self-custody—holding your own private keys. The goal is to use Bitcoin as savings and secure it properly so that no third party can take it from you.
"It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self-fulfilling prophecy."
— Satoshi Nakamoto
This guide simplifies the process so you can start safely.
🔑 Step 1: Download a Bitcoin Wallet & Secure Your Private Key
1️⃣ Download a Bitcoin Wallet
Choose a mobile wallet to start. Recommended options: Green by Blockstream, BlueWallet (Bitcoin-only mode).
The wallet will generate 12-24 random words—this is your private key (seed phrase).
2️⃣ Understand the Difference: Private Key vs. Public Key
✅ Your private key (or seed phrase) is NOT your public key (or address).
Your public key (or Bitcoin address) is safe to share—this is what people use to send you Bitcoin.
Your private key must remain secret—it is only used to recover your wallet if you lose access.
Most wallets have user-friendly interfaces that allow access using a PIN or password, meaning you rarely need to interact with the private key itself.
🚨 Think of it like email:
Public key = your email address (safe to share).
Private key = your email password (never share).
3️⃣ Secure Your Private Key
✅ DO
Write down the words on paper.
Store them safely (in a fireproof safe or hidden location).
Laminating or etching them on steel adds protection.
Tell your spouse or trusted heir where they are stored.
🚫 DO NOT
Store them digitally (not on your phone, computer, cloud, or notes app).
Take a photo or screenshot.
Share them with anyone.
“Life is really simple, but we insist on making it complicated.”
— Confucius
Your private key = your Bitcoin. If you lose it, you lose access. If someone else gets it, they can steal your Bitcoin with no way to recover it.
“Blocks contain a history of the bitcoin addresses that a coin has been transferred to.”
— Satoshi Nakamoto
Bitcoin transactions are etched into an immutable, public ledger, verifying ownership without needing a trusted third party.
💰 Step 2: Buy Bitcoin & Start Saving (DCA Strategy)
Best exchanges for beginners:
✅ Strike & Cash App (simple and beginner-friendly)
✅ River (trusted Bitcoin-only exchange)
💡 KYC vs. Non-KYC Bitcoin
Buying on exchanges requires ID verification (KYC: Know Your Customer).
Government & blockchain analytics firms can track KYC Bitcoin.
For ultimate privacy, buy Bitcoin peer-to-peer (P2P): Robosats, Peach, HodlHodl.
🔄 Dollar Cost Averaging (DCA)
Instead of trying to time the market, simply buy Bitcoin regularly (weekly or monthly) and hold. This reduces stress and removes emotion from investing.
🔹 Bitcoin is savings, not a trade. Stack sats & hold long term.
“New transactions are broadcast to all nodes.”
— Satoshi Nakamoto
Every Bitcoin transaction is verified by a decentralized network, ensuring no single entity can alter or block your transaction.
🛡️ Step 3: Take Custody – “Not Your Keys, Not Your Coins”
⚠️ Leaving Bitcoin on an exchange is dangerous.
Exchanges get hacked, go bankrupt, or freeze withdrawals (FTX, Mt. Gox, Binance, etc.).
Bitcoin was created to eliminate trust in third parties.
✅ Move your Bitcoin to your own wallet as soon as possible.
Bitcoin was invented so you could "be your own bank." Trusting an intermediary is the fastest way to lose it.
"The advantage of letting Bitcoin download and verify the blocks is that you do not have to trust the person you're downloading them from."
— Satoshi Nakamoto
By running your own Bitcoin wallet (or even a Bitcoin node), you ensure your transactions are verified independently, removing the need to trust any institution.
💡 Try a Test Transaction for Confidence
Before moving a large amount of Bitcoin from an exchange to your wallet, first send a small amount (e.g., $5 worth). This helps:
Ensure you copied the address correctly.
Prove to yourself that you can move Bitcoin.
Build confidence in using your wallet.
🚫 Best Practice: Copy/Paste Bitcoin Addresses
Do NOT write down Bitcoin addresses manually—mistakes are irreversible.
Always copy/paste addresses from your wallet interface.
For extra security, double-check the first and last few characters before sending.
🔒 Step 4: Upgrade to a Hardware Wallet (Cold Storage)
Once you’ve accumulated a meaningful amount, secure it with a hardware wallet.
✅ Why?
Completely offline (immune to hacks).
More secure than mobile wallets.
Adds extra layers of protection.
🔹 Recommended Bitcoin-only hardware wallets:
Coldcard (air-gapped security, best for advanced users).
Blockstream Jade (great balance of security & ease).
Bitkey (by Block) (designed for beginners with strong security).
Seedsigner (DIY, open-source option for maximum privacy).
💡 Best practices:
Use a passphrase for extra security.
Keep your backup seed phrase safe.
Never type your private key on a computer or phone.
Bitcoin security is a lifelong practice—take it seriously.
🌍 Step 5: Run a Bitcoin Node – Verify, Don’t Trust
To achieve true financial sovereignty, consider running your own Bitcoin node. A node allows you to:
✅ Verify transactions independently—you don’t have to trust third parties.
✅ Improve privacy by broadcasting your transactions yourself.
✅ Enforce Bitcoin’s rules—ensuring you are using real Bitcoin, not a forked or manipulated version.
🔹 Recommended software for running a node:
Bitcoin Core – The standard, most widely used Bitcoin node software.
Bitcoin Knots – A version of Bitcoin Core with additional features for power users.
💡 How to run a node:
Easiest method: Download Bitcoin Core and let it sync the entire blockchain (~500GB).
Hardware option: Use a dedicated device like a Raspberry Pi or an old laptop.
Advanced: Run a node on an SSD for faster performance (recommended).
"Once a transaction is hashed into a link that's a few links back in the chain, it is firmly etched into the global history."
— Satoshi Nakamoto
Running a node ensures you’re verifying Bitcoin transactions yourself—not relying on anyone else to tell you what Bitcoin is.
🛡️ Conclusion: Take the First Step, Keep It Simple
Bitcoin is about personal sovereignty and financial freedom. Getting started is easier than you think—just take the first step.
“The enemy of good is perfect.”
Bitcoin doesn’t require perfection. Just start, secure your keys, and learn as you go.
“Once a transaction is hashed into a link that's a few links back in the chain, it is firmly etched into the global history.”
— Satoshi Nakamoto
Every Bitcoin transaction is permanently recorded, ensuring a provable, immutable financial history that no government or bank can erase.
Recommended videos:
Recommended wallets:
Recommended exchanges
Unit 6: Other resources for a deeper dive:
“But I don’t want to go among mad people,” Alice remarked.
“Oh, you can’t help that,” said the Cat: “we’re all mad here. I’m mad. You’re mad.”
“How do you know I’m mad?” said Alice.
“You must be,” said the Cat, “or you wouldn’t have come here.” - Alice in Wonderland
I recommend the following video series with Michael Saylor from the "What is Money?" Show by Robert Breedlove:
Websites:
Podcasts:
Youtube Channels:
Courses:
Books:
Interesting site with books recommended by well-known bitcoiners: Bitcoiner Books
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