pull down to refresh
5 sats \ 0 replies \ @LibreLoya 31 Jan 2022
The only way for NgU to work is for people to hold their keys.
reply
5 sats \ 0 replies \ @cryptocoin 31 Jan 2022
Example of what gets GhostofStoney worked up:
Celsius now holds over 135,000 $BTC
#9304
reply
2 sats \ 12 replies \ @thrown 31 Jan 2022
Knowing my luck, it would be a far greater risk for me to hold it myself. Too many opportunities to fuck up lol
reply
0 sats \ 11 replies \ @cointastical OP 31 Jan 2022
You can lead a horse to water, ...
reply
5 sats \ 10 replies \ @thrown 31 Jan 2022
you can give a horse a keypair, but you can’t make them not lose it…
reply
0 sats \ 9 replies \ @cointastical OP 31 Jan 2022
ngmi
reply
2 sats \ 8 replies \ @thrown 31 Jan 2022
bitcoiners be like if you don’t have your own ISP, solar electrical grid, well water, butcher barn, and 5 acres of crops… ngmi
reply
1 sat \ 7 replies \ @cointastical OP 31 Jan 2022
I use a number of custodial services. For example, my SN wallet is custodial.
If the amount in it exceeded $10 or whatever, I might transfer most of that balance to something that isn't as easily compromised (e.g., get my twitter account, you got my SN balance ... by simply logging in to SN using it and withdrawing).
I use BlueWallet as my LN wallet. I might have a balance up to $50 or $100 there, before I might transfer to something that isn't as risky to carry around.
But for stacking larger amounts, there's no way I'm letting Kraken, or whomever, sit on those. Do I trust Kraken? More than I do most other exchanges, for example, but an exchange is not the right place for holding my bitcoin.
ColdCard, or some other hardware wallet (with secure seed storage) is the right method -- at least for any amounts I might wish to secure. And for larger amounts, there are vault methods with multisig and such.
There's literally no good reason to leave funds on an exchange beyond what's going to be used for trading in the immediate term (e.g., number of hours, or maybe a few days).
And there's sooooo much history proving to us that leaving bitcoin with a custodian, or lending it out, or leveraging it, ... are great ways to reduce your bitcoin holdings down to near zero.
reply
5 sats \ 6 replies \ @thrown 31 Jan 2022
Correct me if i'm wrong, but is this like putting money in a mattress? I personally know two dudes that got their precious metal stolen this way. One guy beat to a pulp as well.
Sounds kinda like the arguments against nuclear power. Because of Chernobyl we have to ban it all. Seems like the more legitimate exchanges are becoming more legitimate all the time. Eg. https://www.gemini.com/legal/user-agreement#section-digital-asset-insurance
reply
20 sats \ 4 replies \ @hodlstack 2 Feb 2022 freebie
I’m surprised that anyone into Bitcoin enough to be on SN doesn’t actually own their own Bitcoin.
Once you understand the implications,,you MUST hold your own keys to rest easy.
Even the now-shitcoiner antonopolous knows “not your keys not your coins”
view replies
0 sats \ 0 replies \ @cointastical OP 31 Jan 2022
-
Plausible deniability. Trezor has had this for a long time.
-
Multisig. 2 of 3 using Electrum, for example, has been relatively simple and available for over a half decade now. You can't divulge what you do not possess (the second key).
Now we have things like Coinkite's TapSigner, making multisig even easier.
reply on another page
0 sats \ 0 replies \ @cointastical OP 2 Feb 2022
This has good info:
https://notyourkeys.org
reply
0 sats \ 3 replies \ @cointastical OP 2 Feb 2022
It's a simple rule.
Not your keys? Not your bitcoin
reply
0 sats \ 2 replies \ @cointastical OP 15 Feb 2022
The Canadian bank account confiscations have got Stoney repeating himself:
reply
0 sats \ 1 reply \ @cointastical OP 19 Feb 2022
Stated a bit more diplomatically, ...
reply
0 sats \ 0 replies \ @cointastical OP 19 Feb 2022
For those in the back who might not have heard Stoney earlier:
reply