This is a thread for random discussions that gets posted everyday at 5am central.
Tell us what you're doing today, ask questions, or vent about your life. Whatever you want, let it rip!
0 sats \ 0 replies \ @chungkingexpress 14 Nov 2022
Question: when a lightning channel is forced closed, do the sats return to the base chain wallet address from where they were originally added from? How does this work?
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0 sats \ 0 replies \ @faithandcredit 14 Nov 2022
It just occured to me that probably nothing spectacular will break in a rising interest environment since people should have learned their lesson in 2008 and not make the same mistakes. But who knows.
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0 sats \ 0 replies \ @faithandcredit 14 Nov 2022
i cant believe how much exposure this FTX is getting in what i consider non crypto media
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239 sats \ 1 reply \ @fiatbad 13 Nov 2022
Why do people think self-custody of Bitcoin is so hard? There are so many good resources like blogs and YouTube videos. Buy a ColdCard, follow along with BTC Sessions on YouTube to get it set up. It's a short weekend project. Just do it.
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366 sats \ 0 replies \ @stranger_in_moscow 13 Nov 2022
bitbox02 is insanely easy. It's not about easy/hard. It's about ignorance + procrastination + the distracted world we live in (we can't spend 2 hours learning something but easily spend that time in one day looking at useless social media)
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438 sats \ 2 replies \ @BlokchainB 13 Nov 2022
Stackers please take time and do bitcoin inheritance planning. I been putting it off for a long time and now I’m realizing how much time and effort will go into the whole process. Take a weekend or two verify backups write plans people can follow so they can recover the sats you stacked.
I got the basics down but every month I’m going take a weekend to go over everything and start training people I trust how to handle bitcoin hard and software.
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150 sats \ 0 replies \ @scampy 14 Nov 2022
Good for you. Inheritance is something that I think a lot of Bitcoiners overlook, and is probably something that doesn't get discussed enough.
There's quite a lot of effort that goes into just the basics. Bitcoiners on SN are technical and familiar with seed phrases, HWWs, multisig, etc. But your average Joe isn't going to know any better and could easily expose his private keys by typing his seed phrase into a malicious copy of Ledger Live or something. Or maybe they move it all into an exchange for "safe keeping" and get rugged. Or maybe they panic sell after a drawdown.
How long does it take your average Bitcoiner to appreciate the risks of shitcoins, exchanges, private key management, etc.? There are so many loss vectors. I should update my inheritance documentation to say something like "read XYZ books and study up on Bitcoin for one year before touching ANYTHING".
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463 sats \ 0 replies \ @jp 13 Nov 2022
Inheritance Plan:
- Hash your seed via Shamir Sharing Scheme
- Place SSS Hash and instructions (with source code) on USB devices
- Distribute USBs to trusted individuals (with individuals who do not know each other)
- Tell friends that, upon request, you have to return the USB (e.g in the event you lose your keys and/or need to recycle new keys). If they do not, they will be banned from the inheritance
- Create a deadman switch that will broadcast an email to seed holders to convene at your place of last known residence exactly 1 month from the message
- Key holders who show up and can present their USB (and can prove the hash) will be eligible for equal parts of bitcoin
Happy to elaborate further on this setup.
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219 sats \ 0 replies \ @siggy47 13 Nov 2022
I'm listening to a Twitter spaces live right now. It's basically a play by play analysis of the unraveling of crypto.com. I can't help listening. It's like listening to a sports event on the radio
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128 sats \ 1 reply \ @kilianbuhn 13 Nov 2022
Historic paper money faking machine 😂😎😎
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0 sats \ 0 replies \ @pony 13 Nov 2022
deutscher?
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388 sats \ 0 replies \ @pitiunited 13 Nov 2022
Making continuous progress in my cabin project 😉 I'm laying down the paneling for at least another few days 🙂
Have a good one!
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219 sats \ 0 replies \ @User21000000 13 Nov 2022
Good day SN community what’s on the agenda today?
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