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64 sats \ 21 replies \ @JesseJames 10 Aug \ on: Should I Connect My Hardware Wallet To My Full Node? bitcoin_beginners
Why do you think you need/should to do that? What's the primary reason?
I don't have one. I am really curious to see if anyone thinks it's a good idea.
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I see,. I would setup a new full (or light) node just for that and play with it, learn and experiment. Nothing wrong with that.
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Since the manufacturer offered the option, I assumed, perhaps wrongly, that there is some use case/user interest?
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Which manufacturer?
Umbrell?
Start 9?
My node?
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I meant the wallet manufacturer.
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If you don't connect it to your own node, it means you are connecting to their node and they can see your balances and IP address. It's terrible for privacy.
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Got it
I am going to send this to a friend who is very knowledgeable about this topic
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You have real world friends who are bitcoiners? I'm jealous!
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They don’t use SN so I have to forward them stories.
Here is what he said and asked:
If the comparison is between using public nodes elsewhere and using your own node, it's by definition a better option.
When you're broadcasting to or receiving info from your own node, the assumption from your side remains that the node is untrusted.
I think maybe the discussion you reference above is conflating cold wallet's security model with privacy-enhancing aspects of having one's own node.
I think your question is missing something: "connect" you mean to use a HW for a LN node funding source or just a "cold" wallet using a full node to broadcast a tx made with it?
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I wasn't referring to LN use at all. I always considered it bad security practice for my node to be attached to a cold wallet, nor do I see a purpose. Yesterday while messing around with a cold wallet's settings I saw the option "connect to your node", and wondered why anyone would do that. I figured I would make it a question as a learning opportunity. I liked your prior answer.
It seems unnecessary to me as a funding source for my lightning node. I would just fund my node through a hot wallet in that case.
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I would just fund my node through a hot wallet in that case.
Yes that would be the "cache level" from my guide. With a medium amount of sats, only enough for your needs.
I see many users using all their stash in one place and doing from there all sort of things. Wrong. Dispersing the stash is the best method, also a protection anti-theft (see this recent story)
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Terrible story! We all should read @Natalia's recent post for general op sec.
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Staying humble is an important aspect.
One guy told in a group chat that in Sweden, thieves go to meetups to see who to rob and then go to their houses and try to steal the bitcoins.
It is very important to have in place some plausible deniability methods, playing dumb if you are threaten with a wrench or something.
For me personally is simple: I will never give up the access to my stash, no matter what. And thieves knows that if you die, they will get nothing, so will always try to intimidate you. Always stand your ground.
Using decoy wallets is a good method. Also the covenants or time_lock option could be a good protection. You can setup a wallet that the funds cannot be moved to any other address only to a specific one. so if the thief is trying to move them, will have a nice surprise, funds are coming back to you (another wallet set).
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Important advice. The risk will probably only increase as the years go by.
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Yes indeed, this is a real concern and new users that do not learn how to manage properly their wallets will be hit very easily by bad guys.
Yes, years ago I was also one of those wearing all the time a BTC shirt or a visible sign (even on my car). But now I prefer to just be almost invisible, a humble guy, without any ostentation, sometimes almost looking as a poor guy.
If some people that already know me as a bitcoiner ask me about my stash my always answer is that I lost it, now I have only few sats. Playing the "poor guy" card is the best.
In the end not the govs are the biggest enemy, but the bad guys looking for quick hit.