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2024-09-26 10:58:44

Clint Quint on Nostr: What was your biggest #bitcoin blunder that didn't involve selling it? Mine was a ...

What was your biggest #bitcoin blunder that didn't involve selling it?

Mine was a double-whammy:

1. Mining directly to a hardware wallet, creating hundreds of tiny UTXOs, because I thought sending my rewards to the same address would amalgamate them.

2. Panicking when I understood what I’d done and consolidating the UTXOs during a period of high TX fees because I thought they were only going to get higher. Cost me hundreds of dollars in fees.

Education is everything. I’d heard about UTXOs but didn’t know what they were or how bitcoin worked.

I’m the type of person who doesn’t read the Ikea instructions. If bitcoin has taught me one thing, it’s not to mess with stuff before you understand it.

#asknostr

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