40 sats \ 0 replies \ @pillar 6 Nov \ on: Which game sequel are you awaiting the most? gaming
Half life 3
100%. Scenarios like yours are the exactly the kind of stuff that's hard to predict before hand and can throw you off.
I've found one very important practice is to regularly, on a schedule, sign a transaction from important wallets. It could be weekly, monthly, quarterly. Just gather yourself to go through the process of preparing a consolidation TX within the same wallet and sign it. No need to broadcast it.
This ensures that:
- You actually check the balance periodically.
- You verify keys, HWWs, documents, backups, etc. are still in place.
- You make sure that all the details are fresh on your mind. This is probably the most important reason to me. In my opinion, people underestimate how, despite how deeply familiarized you might be with your setup, time erases everything from your brain. I've seen people not touch a cold wallet for two years and then have a real hard time making it work again despite having designed the setup very carefully and thoughtfully at the start. Making a TX every now and then prevents this brain rot.
@DarthCoin, regarding your idea on rotating UTXOs, I don't think it's a good idea in general. I understand the motivation is similar to the one in general IT security for key rotation.
I personally believe your setup should allow you to be confident nobody has ever managed to take a look at your keys. If your current setup makes you wonder if someone has looked at your keys successfully and you can't tell... I think you need to improve it.
If you have any suspicion at all that they might be compromised, I do believe you should rotate ASAP.
Why do you still keep that legacy wallet? Ask yourself.
Well, I can think of one reason, even if you truly don't intend to use that wallet anymore: someone in the future could send sats to the old wallet. If that happens and you don't have the private keys, you'll pull your hair out.
I have a dream that I've continued over several nights, separated by years. It has probably been 5 or 6 times over the last 5 years. Every time it continues where it left off, and every time it gets more intense.
I believe that, for any given range of time, the printing has a top limit (on the infinite long run, there is no limit).
Western banks and other seigniorage institutions will only print so much in a year. They can't print unlimited amounts in that span, because they are still not Venezuela-grade dumb and greedy.
But within those limits, they will print. It's in their interest to print. Because of what you pointed out: they are looking for the interest on the principal they are creating out of nothing. So, that fiat will be printed to someone, for some reason. When it comes to retail loans, I'm pretty confident they don't give a flying fuck what its usage will be.
The way I see it, if don't take the loan offered to me, they will give it to someone else. So yes, I would agree with you that I'm making the assumption that I'm just using a part of the inevitable to-be-printed pool.
Fiat will be printed. The printing will debase fiat holders.
Any printed fiat can be used to buy Bitcoin, or for anything else.
When it goes to buy and hold Bitcoin, it pushes the BTC/fiat price up. Thus, besides hurting fiat holders, you reward all Bitcoin holders with more purchasing power.
I will never disagree with printing money being an evil thing that worsens the world. But, if it will be printed, I can't think of a better use for it than to make Bitcoin rise.
I also see it as a peculiar implementation of Alinsky's fourth rule of his rules for radicals.
Moral Hazard is definitely an issue. It's just very natural for someone to take their own risks, and very awkward for someone else to have to take them for you. Thus the fraud issue.
Just like we often discuss how in a Bitcoin future, debt is less frequent and people just save up for buying what they need, I could also see how this type of insurance becomes less frequent and people just save and act carefully.
@ek the more stories of yours you write the more it feels like your life is a set of Fear and Loathing in Vegas style situations, but in germany.
All goods have marginally decreasing returns.
For a man with no obligations and a free agenda, wasting a minute costs little.
For a penny less man, 100,000 sats is a treasure.
Are you familiar with rubber ducking @siggy47? I think it could really help you out.
Basically, by explaining the issue you are facing and the things you have tried in extreme detail, there's very high chances you'll spot the issue/solution on your own along the process. It tends to work great for silly mistakes like this one.
That's some rough shit. If I can be honest, I'm amazed at how well you've turned out given your circumstances.
98 sats \ 1 reply \ @pillar 12 Sep \ parent \ on: How many Stackers do you subscribe to? alter_native
Thanks @BlokchainB, you just made me realise you can subscribe to stackers. I had no clue.
Opentimestamps could be a complementary tool to achieve this.
Pattern would be:
- You author the "work", whatever that is.
- You sign it.
- You use opentimestamps to prove the existence of the signature at some point in time.
- You release the "work" out there.
Since you have that proof, and nobody else can provide one earlier than yours, you kind of have a case for having laid your eyes on the "work" before anyone else, which is a strong argument in demonstrating authoring.
From what I've read, intellectual property protection is one of the strong use cases in trad-legal areas for Opentimestamps.