reply on: I need to stop buying wallets \ stacker news ~bitcoin

21 sats \ 12 replies \ @DarthCoin 30 Mar \ parent \ on: I need to stop buying wallets bitcoin

I mean that meanwhile some others are buying a lot of HW, I will stack more sats, not buying them. There are many methods to secure your wallets, without any expensive HW. But yes, require some basic knowledge of software and simple steps to do.

Yeah people love to buy these fancy toys, to feel more secure and create complicated multisigs for what? To keep 1BTC or not even that?

Multisig with multiple HW is necessary only when you a big company with multiple people accessing the company funds. But for a single user is over-complicating things for absolutely nothing.

Example here:

Please take the BTC if you can.

21 sats \ 0 replies \ @oliverweiss 30 Mar

Understand. Thanks.

10 sats \ 5 replies \ @Zathras 30 Mar

"Require some basic knowledge of software". How did that work out for Luke? A basic offline single purpose signing device can help a lot of people not shoot themselves in the foot. They can still do it, but it helps lower the chances.

42 sats \ 4 replies \ @DarthCoin 30 Mar

Luke is a really bad example for this.

We still don't have the certainty that everything he said is true. Maybe was just a way to make "a boating accident"...
Devs like that usually do mistakes
Just because he's a bitcoin dev, that doesn't mean he cannot do stupid things or the methods are not good.

As I show that simple example with steganography. Try to take the BTC if you can. But Luke not even that he did... he kept all his (supposedly) BTC in just one place. As I recommended: use the 3 levels stash. And each level will have multiple wallets.

Please read the guide I linked above.

10 sats \ 3 replies \ @Zathras 31 Mar

I think steganography is awesome, but using a hardware wallet is a much more straightforward standardized process. Walking normy friends through steganography seems like too heavy a lift.

20 sats \ 1 reply \ @DarthCoin 31 Mar

Sure. I am not saying that normies should use my methods. Every user can use whatever method they are comfortable with. I only wanted to point out that not only a HW is safe. I see this trend pushed everywhere and new users think that is the only way.

21 sats \ 0 replies \ @Zathras 31 Mar

Totally fair.

21 sats \ 0 replies \ @Zathras 31 Mar

Thanks for the guide by the way. Book marked.

0 sats \ 1 reply \ @_error 1 Apr

Hey @DarthCoin

I managed to extract the sats from the cat picture 😁

Can I keep it?

0 sats \ 0 replies \ @DarthCoin 1 Apr

sure

0 sats \ 2 replies \ @badabing 31 Mar

What do you propose for people securing considerable sums? For instance, wealthy people wanting to put some of their money in bitcoin and take self custody of it without too much compromises in terms of security? Do you think self/collab custody with hw wallets makes sense for them?

20 sats \ 1 reply \ @DarthCoin 31 Mar

Is not about the amount. Is about the user capabilities and knowledge how to use wallets and software. I explained in this guide all stages of how to level your stash in 3levels. https://darth-coin.github.io/beginner/be-your-own-bank-en.html

0 sats \ 0 replies \ @badabing 31 Mar

Ok, put it this way: newbies that want to acquire 5-10 bitcoin but don't have the skills to do so. What would you propose them as a solution that is secure but user friendly (not a lot of technical skills needed).

Would you propose them a singlesig or multisig? Would you advise them to make wallets on Tails USBs or to buy hw wallets from different vendors?

Would your advice be the same for 100 bitcoin?