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20 sats \ 1 reply \ @pajdo 8 Dec \ on: Reminder to Check Your Bitcoin Setups (Seedphrases, Backups, HWWs, Passphrases) bitcoin_beginners
single master seed phrase with BIP-85 for unlimited wallets
The one outlier you can't control here is the peer you trade with, but there are a couple ways to get around this, ex. Revolut's MITM payment link method.
Can you expand on Revolut payment link method, should I use payment links to both send and receive, instead of paying/receiving directly? Is it more private?
- When back in Croatia?
- Will you be adding SEPA Instant?
- Last I used it, spreads were pretty large, will there ever be no spread? As far as I know, Strike, which is coming to Europe very soon, has no spreads anymore, and charges 0.99% instead. Relai has both.
- Do you have plans to release a web version as well? If so, are you hiring frontend engineers 👀
Better to have money unprotected so you know someone is trying to steal from you.... Okay
Unprotected? Do you publicly display your 24 words? 24 words etched on steel is extremely secure.
Some small amount like 100 bucks could potentially save your stack. Standard practice. Also could serve as a decoy wallet, in case of $5 wrench attack. Although I’d put a bit more, to make it believable.
Otherwise somebody theoretically could already have your seed, and has been working on brute forcing your passphrase.
For passphrases I keep all of them in my password manager. Each password let's me have a different wallet for a different purpose. I keep ZERO funds on wallets with no passphrase.
Better to keep some funds on no-passphrase wallet, so you get notified immediately in case of breach, and have enough time to securely transfer your passphrase funds.
I’m waiting for widespread taproot support to switch to multisig. Until then, I’m using single-sig with a 6 word passphrase. Using an airgapped coldcard, seed etched in steel, other wallets derived from master seed using BIP-85.
He does not really understand Bitcoin, all he cares for is bitcoin in an ETF format, and he’s been very vocal about that. He only got into it very recently, and already he’s going around saying ETFs are the one and only reason Bitcoin is where it’s at. And it will only be like a 10-year play for him, he does not see much of a future in it beyond.
He’s also literally telling people there’s no point in building on bitcoin and that we should all just buy into ETFs instead. He doesn’t care about Bitcoin Core, Lightning, Fedimint, all of that is just nerd shit to him, ETF is the only thing that matters.
Been following him for the past few months, but he’s been having more and more absolutely dreadful takes. He’s an elitist and very much out of touch.
Do not trust him, I bet he will turn against it when the bear comes, all he ever experienced in bitcoin is NGU.