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Thanks for the info, if I where to show them a balance directly it would be on a dedicated wallet with just the amount they need.
Also i'm planning to recicle an old laptop as a air-gapped PC with Tails and Electrum.
Thanks for the guide, I see it works with SeedSigner too, it's pretty cool. I have a raspberry pi so I might try it out.
If I would need to have a proof from somebody else about having that amount, I will always ask to sign a message from that address.
I will never trust any screenshot from a wallet. That is NOT proof.
The only proof is Bitcoin Blockchain.
That's a point of view I didn't consider at first, I just imagined this to be just in person, of course don't trust, verify. 😎
Scenario, you ask me to show my balance:
I can show you a wallet, in person, fine. But no details about which address / UTXo etc, just a stupid screen.
But then after that I go and move the funds to another wallet.
So you will not have anymore the real proof of the address and also option to track to see if I still have the balance in that specific address.
So you can give me whatever I want based on your wrong assumption that I still have that balance.
Also another aspect... IMPORTANT!
Let's say will send you the BTC from that balance...
But then after you go, I will make a RBF/CPFP on that tx and push it with a higher fee to another address of mine. You will not receive the BTC because you didn't wait for 6 confirmations and you have bad assumptions that I have that balance for you.
You just have been scammed.
Remember this aspects.
If you do an onchain tx ALWAYS wait for 6 confirmations.
About showing the amount, given your security concerns I could probably go with a temporary wallet where I just move in the said amount from other wallets and then move them back the originals or to other wallets.
I'm aware of the 6 confirmations of a tx, but wouldn't it be fine to go with Lightning payments in case one need a faster feedback?
LN payments always should be the 1st option. But if the amount is higher, let's say 0.5 or 1BTC, I would go for onchain tx.
Indeed, LN payments are instant settlement. Once are done, there's no way back.
I see, maybe renting a small apartment would be around 0.01~ BTC? That would be fine in LN.
😂😂😂😂 Yes.
You have to consider this:
- if you want instant settlement, use LN, even if you use it in small chunks.
- if you do not want instant settlement and you could wait for final confirmation, then is OK onchain, but do not use onchain for small amounts (smaller than 100k sats I would not do onchain).
So if you need to pay rent, let's say 0.01BTC, is OK to pay it onchain. The landlord then will consider it done, when will have 6 confirmations and also can wait for them, even that can take 1 day. Is not a big deal. He can see that is a pending tx and your intentions are good. In this case yes, there's a bit of trust, because if you try to scam him, he could come back to you and say "hey your payments was cancelled, pls can you do it again?"
I thought it was another scenario with a stranger that sells you some product online or something.
Never show to somebody your private balance. No matter what.
If you really want show a screen balance, use a decoy testnet.
If is a serious situation when you really have to prove the stake, then use as I said, sign a message from that address, so you prove you are the rightful owner of that address.
Then they can check on eny block explorer the balance of that address.
here is a full guide how to use Electrum and sign a message from a specific address
https://armantheparman.com/electrum/