TheGrinder on Nostr: pulling this out again because now is a good time to manage your swiss bank. ...

pulling this out again because now is a good time to manage your swiss bank.

quoting
nevent1q…3slh

I know that at times like these, jpgs in blocks, insane tx fees, force closures of channels etc, we can get quite easily upset even angry. However, we have to remember that we're our own banks and that you alone are responsible to manage and protect your coins.

This includes accounting for economic events, staying on top of protocol changes and by acting accordingly to minimalize negative impact on your holdings or even prevent any kind of financial loss. This may include closing channels only to open them again a few days later. It may include not transacting on the main-net for several days and it also includes managing your wallets when the cost to do so is in your favour.

If you had a channel force closed or you've been affected in any other way then take it as a viable lesson learned, don't forget about it and consider how to "fix leaks" in how you're managing your wealth as a private bank, your bank.

I'm not saying this to bash on anyone but to make you realise that there will always be economic events affecting Bitcoin in one way or another and you always have to remain vigilant and pay attention to reduce any negative impact such an event can have on your own stack.

#bitcoin #runes #ordinals #opsec