While i spend my days dreaming of future millions, i was thinking, would things become a bit terrifying if we hit a Saylor triple maxi prediction (for those unaware - https://www.youtube.com/watch?v=DOSirw2sZ_s)
if btc was that much, i wonder would I actually feel safe, not only with potentially millions on a ledger, but also if i was paying for things in btc, the data leaks and whatnot?
like i read about people getting kidnapped and bashed or killed because someone said they had btc and think, if btc went triple maxi, the incentive to really come after us is quite high (unless you have it in an etf, which i certainly don't want)
my friend in ukraine for example, gets paid in stable coins and goes to like a change place and just cashes out into local currency , no kyc or anything. while i love the idea of doing this and telling the tax man to suck a dick, i also think, how hard would it be to just get stalked from such a place, or say the guy working there decides to give some bad guys a tip about person x that comes in all the time
like i don't know how the bitcoin family sleeps at night. even if your btc is on different ledgers all over the world, some goon would kill for a lot less.
what do you guys think? are you prepared for a triple maxi future?
This is 100% a question of how much freedom you need in your lifestyle. It doesn't matter if you own $10 worth of BTC or $10 Billion worth of BTC, it's what you show to others that determines the level of freedom you personally experience.
If my current & future stack grows in value to become worth billions I believe I may start spending more than I do now, but no amount of wealth will make me wear gold chains & gucci products, live in a mansion, or drive a lambo around. Those items are like walking around with a billboard above your head screaming "Rob me." They REQUIRE more security in your day-to-day life.
If you want to live like that, you need bodyguards with guns, plain & simple. And who wants to live like that? Not even royalty. They hate the lack of freedom that requires of them. I certainly would too.
So find your chosen level of comfort and prepare the necessary security to maintain that lifestyle safely. Some people are happy being comfortable living in the same house they grew up in until they die. Others need their own jet plane to hit the ski slopes when they get the itch. You do you, just learn to accept that the latter requires guns & thugs to be safe, while the former makes you no more a target than you are now.
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luckily i am very minimalist in life, unlike Indian shirt guy
'Tragically, Phuge’s life was cut short when he was brutally murdered in 2016. He was attacked by 12 assailants with a sickle, swords, knives, and rods, and then bludgeoned to death with large stones near Dighi in Pune.'
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  1. Stay humble. But prepare.
  2. Do a lot boating and kayaking.
  3. 3x5 Multi-sig might be an interesting option as far as making it impossible to move Bitcoin without 3 of 5 signers. This complicates kidnapping greatly.
  4. Defense from goons in general? See rule #1.
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do you think people who visit places like the bitcoin jungle for example could be targeted?
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Is there a way to convey this to potential attackers, pre-attack? That you have a (difficult to spend from) multi-sig setup? Kind of like how some caterpillars convey, with bright colors and stripes, that they taste yucky to birds...
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Every wanna be wrencher must remember that while they're sat there too scared to pull the trigger, there's always the chance the person they decided to walk up on decides they care more for taking an attackers life than "protecting" their own.
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at least we should be able to afford some pretty sick weapons if we moon that hard
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0 sats \ 0 replies \ @OT 13 Sep
If it really goes up that much you'll have money to pay for better security.
Learn the tools now (LN, multisig, best privacy practices etc) just in case.
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The same would happen if you have a lot of fiat money, there are associated risks. It must be clear that bitcoin is not anonymous, it is pseudonymous, so if they manage to associate an address with your identity, they would know about your assets. In the time I have been in bitcoin, I have learned that privacy is something we must protect if we want to go unnoticed, it does not matter if bitcoin goes to the moon, if you keep a low profile and take the appropriate measures to back up your bitcoin you will not have a problem. Be careful if you do KYC or use custodial services, you are at risk.
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I'd say that 95% of (US) bitcoiners mostly use KYC exchanges. Probably more, but I'd feel pretty comfortable saying at least 95%.
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Anyone who uses an exchange to buy or sell bitcoin is probably unaware of the existence of other more private methods for this, or is trading. There are platforms such as HodlHodl, RoboSats, LNP2P, Mostro that allow the exchange of Bitcoin without KYC.
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i feel like for me the next step is mastering non kyc bitcoin, all this time i have been full kyc because it's quick and easy and i didn't really know any better
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Try out Robosats. Watch some videos, start with small amounts, expect some glitches and a little bit of confusion. Perserere. Ask questions (even "dumb beginner" questions) on the telegram channel for Robosats (https://t.me/robosats). People are helpful.
You'll get there.
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Also I think if you posted questions here on stacker.news, you'd get good answers.
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that's exactly what i will be doing, always something new to learn in btc
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what do you guys think? are you prepared for a triple maxi future?
Nope, but working on it every day.
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Embracing bitcoin comes with great responsibility that you as a bitcoiner must accept. This self-responsibility is multi-factorial, and you must learn to deal with each accordingly. Your survival and protection are not exceptions. Perhaps, someday, in a hyperbitcoinize world, we'll get to experience utmost safety of our money and properties, as security personnels will get to paid in bitcoin to serve and protect.
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What about people who have millions today? (In $,€,£)
Maybe it does happen to you, maybe not; have a safe home, have some way to off possible intruders, and maybe carry a knife with you (or a gun, if possible). It's all about being the most difficult target, as it's always been.
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they are targeted in the usual way, home invasion, scams etc, but nobody is trying to kidnap them to get them to call up their broker and transfer their meta stock.
with btc, you have all your work, on a device, in your house which ads a difference risk vector.
that and the blockchain can be analysed, so if you buy a Ferrari with your btc, someone can trace back and monitor the address etc
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If you have a significant amount of bitcoin it would be unwise to have it all on a single device at your house. A multisignature setup would be one possible solution.
As far as someone monitoring the blockchain and seeing how much an address of your has when you spend, this is why it’s important to use a different address for each transaction you recieve. And if you do end up with a large utxo are there are ways to break it into a smaller one so that when you spend it it’s much harder for the recipient of your payment to know how much money you have.
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It's an educated guess at best, stop being so paranoid people...
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If you send someone bitcoin .1 bitcoin from an address that holds .5 bitcoin, they can be 100 percent certain you have .4 btc left.
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That's true, but that would be dumb anyways and kinda deserved then, ain't it?
How about lightning?
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That's true, but that would be dumb anyways and kinda deserved then, ain't it?
And yet that’s what the post/comment is about. Not everyone is aware of how to use bitcoin the best possible way. Instead of calling people “paranoid” and calling them “dumb” lead with the lightning part.
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Remember that time ledger had the brilliant idea that it'd be cool to wear your hardware wallet as a necklace? I'm sure there would be people who'd wear it.
It's no mystery that the blockchain is public, thus, indirectly showing off your stack by spending from your "vault" wouldn't exactly be the smartest of moves to make, just as running around with a stack of 100-$ bills in a clip isn't exactly the smartest of moves to make.
A bit of common sense goes a long way.
i use lightning where i can and for smaller amounts etc, but is the idea that by moving form chain to lightning and then making a payment, a would-be chain watcher would at least find it a lot harder to identify your remaining stack?
bullshit fiat mindset...
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this is not a question of price - it's a question of safety (perceived safety) when you have a valuable asset right there in your home
if one btc is worth a lot more, it changes the incentives of criminals.
a similar argument or question could be posed to someone holding diamonds or gold at home, except in their case, there is no easy way of tracking them via social activities etc
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It doesn't matter for bitcoin. Just play the role of a humble guy and nothing bad could happen. But nowadays people don't know to make the difference between online life (nym) and real life and most of the time the mix up both. And that's why they get fucked.
Also as I said many times: use the 3 levels of stashing: vault, cache, spending. Many noobs are using just one wallet... totally wrong.
https://darth-coin.github.io/beginner/be-your-own-bank-en.html
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