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Tweets are not financial advice.
Jul 11, 2023 • 7 tweets • 2 min read
The biggest mistake many Bitcoiners make while they're stacking sats?
Withdrawing their BTC..
To the same address.
Over and over again.
Why is this a problem? How could such a seemingly small thing DRAMATICALLY impact your privacy?
Let's dive in 👇. A quick 🧵
1/5 2/5 Your 1st instinct might have been just to treat #Bitcoin addresses like your email address.
After all, isn't it easier to just use the same #Bitcoin address for all transactions?
Thing is, every Bitcoin transaction is publicly recorded on chain, for everyone's 👀's to see.
Personally, I've been seeing very little coverage as of late on #Lebanon's currency crisis and its relation to #Bitcoin. So figured I'd do some research and share what I learned!
2/ Lebanon's currency crisis has been unfolding for years. The central bank defaulted on its IMF loan for the 1st time ever, revealing they didn't have depositors' assets on hand.
This started a bank run, leading to strict withdrawal limits. 💰📉