15 sats \ 3 replies \ @CoSatoshi 26 Apr \ on: Something about Bitcoin that scares me security
It's a 3-tiered solution:
- Wallet: a hot wallet on your phone/device where you keep your 'spending' BTC (ie; CashApp, Strike)
- Safe: Single sig cold wallet where you store your longer term coins (ie; Jade, ColdCard, Seed Signer, + Sparrow)
- Vault: Multi sig cold wallet where you store you long-long term coins (ie; Unchained)
If this is your setup, just like the scenario you proposed, a blunt-force attack can only realistically steal what's in your 'wallet.' Additionally, you can setup your 'safe' and 'vault' with passphrases and decoy accounts just to be extra cautious.
No, I don't believe so. So long as you have your seed, you can always restore back into the device under a different config, or a different device entirely. Actually, now that I think about it I believe you can still access the device without the QR even if you set it up that way. I may be wrong on that, I'll have to double-check...
Update: resolved -- turns out the VM on the server ran out of memory. Simple reboot fixed the issue facepalm
As Kratter said, we're in a race against time to prevent a war over the matter. Only when enough people are onboarded and integrated into owning and using Bitcoin in their daily lives does the government face a huge obstacle in making Bitcoin usage untenable. If that threshold is not breached soon, we may see some very dark times ahead.
I possess a strong technical background in software development, DevSecOps, and cloud-native infrastructure, among other areas.
I've been thinking about starting up something similar here in the US. Could use someone with knowledge in this area. Let's keep in touch!
Ah yes, this was a while back. I still don't know if there is an update there, perhaps to can fill me in. Essentially, someone claims to have found a serious vulnerability, but we still don't know exactly what it is? Maybe I got that wrong. Anyway, for this post I'm specifically thinking of something more recent in which a dev stated that he was quitting LN and focusing elsewhere. I believe it was a different L2 like Ark. Does that sound familiar?
It was a quasi-Bitcoiner. Someone very much on the libertarian/Austrian side political/economically, but has an ETH node, too. I'd say he's 80% maxi, 20% crypto-bro. 100% anti-fiat. Oh interesting, didn't know and hadn't heard that before about WBTC. He didn't mention that in our brief discussion...
Yeah, this is what perplexes me: LN works, so I don't understand the reasoning leading to someone saying it has 'failed.' It works, it's relatively decentralized (compared to any other payment rail on Earth, at least), it's fast, and it's cheap. I'm just trying to understand the logic.
I agree with you, totally. With this particular individual, I didn't really get a solid chance to pick his brain, and I don't know when I'll have the opportunity again to do so. Just trying to figure out on what basis one would even possibly make the claim that it has "failed."
Wondering if he wants to compete with CashApp/Block, et al... that's what it sounds like he's going for here.
121 sats \ 0 replies \ @CoSatoshi OP 26 Oct 2023 \ parent \ on: Need Help with Hidden/Decoy Wallets bitcoin
Good call! I love this concept and I can't believe I didn't know about it for so long.