Bitcoin Magazine “10 Steps to Self-Sovereignty” Series Partnership ledger We are officially done! Over the past few months, we have covered a variety of topics, from specific guides on how to manage and operate Bitcoin securely and self-sovereignly, to explaining the fundamental properties that make Bitcoin a valuable and functioning asset and network.
Now that the series is over, let’s take a look back at each article and the topics they covered.
Step 1 | Understanding your Bitcoin Key: Bip39 Seed Words
this First Article We’ll explain how to actually manage the seed phrase used to generate private keys, how a seed phrase works under the hood, and how to generate a seed phrase securely. It’s very important that users understand how to properly manage their seed phrases.
This article will provide you with all the basic information you need to know.
Step 2 | Bitcoin has no cap because fiat currencies have no floor: Understanding currency depreciation
of Second article We discuss the dynamics of fiat devaluation and its history in different societies. Understanding the abuse of money printing presses by central banks and fiat authorities of the past is an important step in understanding why Bitcoin’s immutable monetary policy has become so valuable in today’s world.
Step 3 | Things to note about self-custody of Bitcoin
of Next Article We will explain the important milestones and things you need to do correctly when managing your funds in Bitcoin. Self-custody is more than just generating a seed phrase and storing it in a withdrawal. When you manage your own Bitcoin, the responsibility is entirely on you and no one else.
This article explains the important things you need to do when managing your own keys, and how to do it correctly.
Step 4 | Information Security Basics: How to Keep Your Bitcoin Seed Phrase Secure
Generating a seed phrase is the first step in self-care, but over time you need to ensure it remains safe from loss, prying eyes, and thieves. Article 4 We instruct our readers on how to safely store a backup of their seed phrase.
Where to store them, where not to store them, what materials to store them in, and more – this article covers it all.
Step 5 | Fully Noded: The Basics and Benefits of Running a Bitcoin Node
of Article 5 Aside from managing your own private keys, we’re going to explain one of the most important aspects of using Bitcoin: running a node. We’ll explain why running a node is important: after all, the network exists thanks to the various users and companies who run nodes.
We will also explain the direct benefits that users can gain by running a node and validating the blockchain themselves.
Step 6 | Quality Money: After the Halving, Bitcoin Will Become Scarcer Than Gold
of Article 6 Compare Bitcoin to its analog predecessor, gold. This last halving saw Bitcoin’s inflation rate fall below that of the analog store of value champion. Gold has always been a comparison to explain Bitcoin’s properties as money, but in this article we explain why Bitcoin is inherently designed to surpass gold’s value proposition.
Step 7 | Bitcoin Crosses Borders: How Decentralization and Permissionlessness Give It Autonomy Across Political Jurisdictions
Article 7 We analyze why Bitcoin is available worldwide: the network is not centralized in a single jurisdiction and can be accessed from anywhere in the world. This gives Bitcoin a unique value proposition in that it allows you to carry your wealth anywhere in the world.
Step 8 | Bitcoin is built to last: How the network defends against attacks
of Article 8 We highlight why Bitcoin is so robust and resilient to failures and attacks. We analyze the different ways the network could be disrupted or attacked, explaining each scenario in detail and explaining why Bitcoin is likely to survive and continue to function in each one.
It would take a truly catastrophic event to bring down the Bitcoin network.
Step 9 | Living Unbanked: Bitcoin Gives You Ultimate Financial Freedom
of Article 9 We focus on one of Bitcoin’s main value propositions – the ability to spend money under your own control without needing anyone’s permission – and highlight both the benefits of Bitcoin that traditional banking and financial services cannot offer, and the challenges that must be overcome to bring this valuable use to the world.
Step 10 | Run Your Own Sovereign Business
of Final Article Part 1 of this series covers the use of Bitcoin in commerce. Money is traded and, by definition, businesses and service providers must accept money in exchange for goods and services. In this article, we will cover the issues that businesses must consider when accepting Bitcoin as a form of payment and using it as money in the course of running their business.
summary
This series of articles can be a valuable resource for new Bitcoin users who want to enter the Bitcoin world and take full advantage of the sovereignty that Bitcoin offers to those willing to take responsibility for it.
Each article focuses on a single topic, either guiding readers through the steps of storing their coins and ensuring they are ready to store them safely, or providing a comprehensive understanding of Bitcoin’s value proposition in a particular niche.
These two pieces of content are valuable and essential in giving Bitcoin users a solid foundation as they navigate this space, and we hope you gained some valuable insights from reading them.
For more information about Ledger and self-management, please visit: Source: https://www.ledger.com/
