Your Trusted Bitcoin Advisor
(Since 2013)
Your Trusted Bitcoin Advisor
(Since 2013)
My mission is to make Bitcoin as easy to use as Sending and Receiving an Email and as simple to store as using a Safe Deposit Box. I'm here to provide high-quality Bitcoin Concierge Services to select clients while maintaining the highest level of professionalism and ethics.
While spending Bitcoin is straightforward and becomes easier with repetition, Self-Custody presents a nuanced challenge. This isn't primarily due to the intricacies of transactions, but rather the risk of individuals losing touch with the management of their assets over time.
The digital landscape evolves rapidly, with constant updates in industry standards, new security protocols, and hardware firmware enhancements. Even those well-versed in Bitcoin management can find themselves outpaced by these changes.
Over time, one might neglect essential security practices or fail to keep abreast of the latest best practices, This issue of forgetfulness, combined with an ever-changing technological environment, highlights the necessity for continuous education and the potential integration of sophisticated, user-friendly tools designed to simplify self-custody.
Self Custody becomes particularly pertinent for high-net-worth individuals or large investors who might not engage with their Bitcoin holdings frequently. Many such investors opt to delegate the management of their Bitcoin to professional firms. It's imperative to recognize that in most cases, this arrangement involves purchasing a claim on Bitcoin rather than direct ownership of the cryptocurrency's private keys.
It's crucial to understand the distinction between self-custody in situations where one might need to liquidate or transfer their Bitcoin. For example, when relocating internationally, individuals may receive the dollar equivalent of their Bitcoin rather than the Bitcoin itself. And cashing out is not a wise choice especially when exploring legal strategies for minimizing tax liabilities
Understanding and navigating this landscape requires not just initial knowledge but ongoing vigilance and perhaps, the strategic use of both old fashioned, offline human expertise and cutting-edge technology to ensure that one's Bitcoin remains both secure and readily accessible when needed.
Frank Bitcoin
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