Replying to Avatar FiddleHodlHomestead

#asknostr

Hi friends! Question: I have orange-pilled an elderly friend. He has a small business and is interested in creating a btc reserve. Sounds great but I'm a bit concerned about safety: since the business is in his name and has his home address, and since he would probably do it through one of the exchanges, hacks could potentially put him at personal risk.

I could eventually look into multisig for him but I'm not sure that helps keep him safe even if it would protect the btc, and he doesn't have the bandwidth for a complex security set-up.

Any thoughts or recommendations?
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phenixfalconer 5mo ago

I think just starting with a small amount. Learn to hold and transact. As the purchasing power increases he will have the incentive to understand how he needs to protect it. This will come years down the road. Just start stacking

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FiddleHodlHomestead 5mo ago

Thank you! He does have some in a personal stack; it's the business one that I'm more nervous about.