0 sats \ 0 replies \ @SirGalahodl OP 22 May 2023 \ parent \ on: Ledger CEO: If you have nothing to hide, you have nothing to fear bitcoin
It is entertaining, I'll give you that.
In his own words: "This is not a real concern because... you only get subpoenaed like this by governments if it's a serious act, like terrorism or drugs, etc etc. It's not true that the average person gets subpoenaed every day."
0 sats \ 0 replies \ @SirGalahodl 17 May 2023 \ parent \ on: Noncustodial way to zap on nostr? nostr
Forgot to mention my BTCPay instance is hosted. Obviously there is some moderate cost involved. It might be possible to make this work on your home node but in order for LNURL to work you need to set up DNS pointing to your server. In my case I didn't want to expose my home network to the world. There are a couple of one-click installers, see https://docs.btcpayserver.org/Deployment/webdeployment/
I set up a BTCPay Server. The latest version supports LNURL, and I also installed the Nostr plugin
When you zap me at sirgalahodl@satstream.me it goes to my non-custodial lightning wallet: https://iris.to/sirgalahodl@satstream.me
10 sats \ 1 reply \ @SirGalahodl 17 May 2023 \ parent \ on: The Subtle Horrors of Ledger Recover bitcoin
Each of those uses a different security model (CC uses a secure element, SeedSigner is stateless, etc). The main difference is that all the hardware devices that you listed are open-source or source-verifiable, while Ledger is closed source, making it impossible to audit the code.
Well, the IRS wants to know about every $600 transaction in your bank account, so there's that...
All things considered bitcoin used with privacy best practices (no address reuse, coinjoin, avoid KYC, etc.) provides much better privacy and tracking prevention than the fiat banking system.
Shamir Secret Sharing: "the secret cannot be revealed unless a quorum of the group acts together to pool their knowledge"
Guess what? The quorum does not include you.
Not only that, this is a KYC service that requires government-issued ID to use.
🚩 Upload your keys to a trusted third party.
🚩 Submit government identification.
This goes against everything the bitcoin community has spent years building.
Might as well save yourself some trouble and use a custodial software wallet.
Then why, why, WHY, if someone wants to dip their toes into Bitcoin, do we tell them to first spend a hundred hours becoming a certified Bitcoin Self Custody Expertâ„¢ before they take the first step and join the network?
Is this the only option? I've never advised a newcomer to do this. Newcomers can download any number of excellent self-custodial wallets, including Phoenix, Breez, Samourai, Sparrow, and many others, and get started in just a few minutes without a trusted third party.
Or, possibly worse, we tell them to write down a seed phrase and self-custody from day one without proper foundational understanding and readiness for the gravity and responsibility of self-custody.
Good gracious me oh no write down 12 words! It sounds like you want your cake and eat it too. The whole point of Bitcoin is to NOT be like your bank who is a custodian.
Anyway a lot of wallets (like Breez) allow you to start receiving funds right away and will remind you later to write down your words.
Your article reads like you are projecting your experience on the incoming bitcoiner: you must spend three-digit number of hours studying bitcoin before you are qualified to self-custody. This is emphatically not the case, and there are so many good tools now that it's not even necessary.
121 sats \ 0 replies \ @SirGalahodl 12 May 2023 \ parent \ on: The Bullish Case for Bitcoin Custodians bitcoin
Swan outsources their custodianship, which is arguably worse.
tl;dr: Human beings are greedy, selfish, and there's always some idiot out there who will try to ruin anything that's good.
Text from screenshot:
If I was evil I work for government Give me 10M$ Bitcoin unusable for months Nobody would know I'd just mint infinite shitcoins on BRC20 Call it "free market" Use the bitcoiner's narrative of censorship resistance, free market and permissionlessness against them.