Bitcoin will make you not sleep at night thinking about access to wallet. If it will be all what you have, you will lose it.
You have to get physical assets, land, not Bitcoin.
Buy Mars land while its still cheap!
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My net worth just 5x in half a year. I sleep like a baby. Helps to actually do some research and make a plan how to secure the wallet.
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Like with every data, some unauthorized people may find access to it. Have to be carefull. Especially when you have a lot.
Multi sig :wesmart:
N of M signatures required to transact
Best of luck getting control of big multi sig wallets, also known as an N of M wallet
Even if I knew how to do it I’d never steal money off people like this.
A) It’s wrong; and, B) There are some really dodgy types who have their money in Bitcoin now and I’ve no wish to bring me or my family into contact with people like this.
Another good reason, IMHO, not to have anything to do with it.
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It’s not super hard. You just have to get a hardware wallet and follow the steps when you actually use it to sign a transaction. That takes care of all this attack vectors.
Also helps to not have windows.
@Nana_Skalski did you get hacked?
People from the future looking back at those comments will have a blast. It’s a bit like the letters from people blaming the inventor of cars for providing criminals a means for fast escape.
I hope you don’t use a car for your family’s sake though.
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Hmmmm.
Actually, for what it’s worth, we use a combination of pedal cycles and public transport.
It’s an environmental thing. You might understand … or not.
I’m sure people in the arid future of humanity will have a real < ahem > ‘laugh’ looking back at what a superb invention the petrol engine was and how it was such a good idea to burn fossil fuels for decades.
Or maybe they won’t.
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I do actually. I never even learned to drive a car because of that exact reason.
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It still stands that its gonna get shut up tighter than a gnat’s chuff once the biggest boys are in a concrete place.
Sure, enjoy it now, but the rest of us have very good reason not to want this being a thing.
- Use multi-sig wallets (N:M wallets) so you can split the keys to N of M (also keep keys separate and air gapped, you can be very creative in access to these keys)
- Use Linux (with LUKS and KeepassXC)
- Don’t correlate addresses to a wallet by transactions, use separate distinct addresses for purposes (coin control features), each address is a public (the address) priv key pair, even if you use HD key generation, underneath it’s individual pub/priv keypairs and you can also be creative if you use HD key generation with the seed, you can also deviate from it underneath with unique pub/priv key pairs outside the HD key derivation function (so the HD key seed won’t be able to generate a matching pub/priv key pair match), HD key generation is a convenience feature (a derivation function to generate many pub address/priv key pairs) , underneath it’s still the same individual address/priv key pairings (this is how you can import individual addresses into a core wallet from an SPV wallet), they’re stored in your wallet.dat and also individually exportable or in bulk for re-importing. This is why you have to back it up every new key generation (creating a new address for example) if not using the HD key generation as the public (address) / priv key pairings will not be derivable (which can happen if you are managing a core wallet via importing key pairs)
- Keep amounts low per address (see point 3)
Best of luck getting control of that lot
PS: They’ve been brute forcing address key pairs since day 1, they scraped empty the easy prey brain wallets years ago, they still have not got access to Satoshi’s fortune (and no, it’s not CW), they have computers trying to crack addresses 24/7 as we speak
Apart from multisig I’m doing all of that. I’m using a hardware wallet with specter-desktop on a dedicated node on a raspberry pi, the keys or the seed never touch an online device. Desktop has always been Linux.
I don’t think that multisig would add a lot more security in my case, just a lot more possible ways to lose access.
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Yeah I don’t think so 
I have never actually heard a reason that holds any water. But feel free to elaborate.
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Why not?
I dont think there’s ever been a human development where once the top dogs have their position secured they tolerate anyone else following the same path.
What makes you feel optimistic about this aspect of human nature other than you are able to work it now?
I mean, I dont think there’s anything to compell you to help others follow the same path of gold, is there?
Obviously there will be heavy resistance as Bitcoin is a direct threat to the people in power that sit on the means of creating any amount of money out of thin air for themselves and their friends, constantly inflating the supply to basically move wealth from the general population to themselves without them even noticing. But even they are not powerful enough to stop the revolution in the financial sector Bitcoin is about to unleash.
The current financial system is a complete mess, a patchwork of legacy systems, glued together with layers up on layers over the decades. With countless parties monopolizing and gate-keeping access to various parts. Bitcoin on the other hand is completely permission-less, extremely efficient ( L2 transaction has instant global finality in milliseconds ), completely decentralized and censorship resistant.
It’s like everyone suddenly has access to the banking backend system, but one that is extremely more powerful, completely digital, completely programmable and open source. The amount of innovation this will bring to the financial sector will be insane. Bitcoin is to the legacy financial sector what the internet is to print media.
Obviously some countries will try to fight it, maybe even ban it. But others will not. There are already countries that are outspoken pro-crypto, like the one I’m residing in, where instead of bans they regulate the space to allow for companies to use the technology without fear of getting their business model crushed by a ban.
So the people in power will have to decide: Do we ban Bitcoin or cryptocurrency to retain power, which is the equivalent of banning the internet, severely crippling the development of our financial system and see the brain power drained to other countries that will take over global leadership. Or are we regulating it, maybe even favorably to get those brains that help us stay on the forefront of technology, so our country stays rich and we don’t die poor.
Now you
Contrary to popular belief, the SEC (US regime) has NO power to ban it since it is outside their legal remit, in other words outside their regulatory function. They only have the power to regulate companies and offerings not the underlaying asset.
Though remember they did confiscate gold in the past, and other countries did prohibit purchasing of it.
Anyway, when push comes to shove, the people won’t hand over.
Gold is special to them, it is MONEY (also subject to CGT and movement exemptions in other places,. because, IT’s MONEY).
Countries CONTROL movement of CURRENCY as it is a LIABILITY to the CENTRAL BANK BALANCE SHEET.
Remember, they issue currency by holding assets (debt obligations issued to you and me on loans by commercial banks backed by some collateral you hold and give them right to claim on default).
Currency is an asset (short term) to YOU, but a liability to the central bank (see balance sheet)
Currency used to be a CERTIFICATE of CLAIM for metals. Not any more.
End of the day, CURRENCY is a means to control you, also a convience method of exchange. What you really want is MONEY and that on this planet until something changes, is GOLD (and some other precious metals). But currency lost it’s real value and is now just fiat. There’s a reason why big money doesn’t hold cash for long, they also are loading up on property amongst other assets, including gold.
Guess whom is buying farmland in the US en masses? Yup Billy Goat and co.
I would hand it over, but that recent boating accident…
Right, so why wouldnt they launch a media offensive to “educate” the rest of ys about how this computer thing we dont understand is bad and that we should all be fir whatever regulations they put in place to protect their own operations? Are none of these people mining too? Seems unlikely they arent.
Providing the accepting of this form of payment isnt suddenly regulated? Or something along those lines. Im asking these things for a better understanding btw.
Except they dont. There is a barrier of at least understanding, if not infrastructure thats fairly easy for those who dont want it to manipulate, as far as I can see. As well as for those who do make money from it to prevent others from following suit.
Plus if everyone can make tgeir own money, and it was accessible to everyone, wont that cause inflation?
But that is my point. Once those who can profit of it do so, what do they have to gain by letting others do it too?
I mean this is independent of any nationalistic arguement. The action of generating it requires a certain level of living, education and understanding. My prediction is that the rest of us will simply switch from one bunch of overlords to another, and withput physicality to it, removing even more of tge ability to do anything about it than the little we currently have.
FOMO into it, buy high, sell low.
They constantly do. All the FUD you hear about money laundering, financing terrorism and criminals, the usual ■■■■ you get from governments that want public support for a policy that is actually against the interest of the people or where no actual arguments are found.
It’s all public, so it would be obvious if there is some big mining no one knows where they are from.
Yes, regulating this kind of thing is absolutely needed and obviously that will happen. Censor ship resistance is meant in the sense that there is no bank that can just cut myself of from my coins or not allow transacting them to someone else on the blockchain. If I hold the keys I actually own them and no one can stop me spending them or taking them away from me.
No, that is not what I mean. Not everyone needs access to it, but everyone has access to the technology. As a normal user you probably don’t care. If you want to run your own financial business you totally do and then you can just use it. Or if you are a power user and don’t want to rely on any bank because you think they are all run by criminals, you totally can too.
That is like saying “if everyone has access to network hardware, browsers and webservers, can’t they run their own internet?”. Yeah, they can, but how much worth is it if no one participates in your “internet”.
What I mean with access to the technology is not to run your own blockchain, but access to the global Bitcoin blockchain that runs with this software. You can’t just create your own coins there.
Bitcoin is permission less. No one can block your access to it. In the legacy system they can, with Bitcoin by design they can’t.
It depends a bit if it actually becomes a currency. Your fiat money currently loses ~4-20% per year in purchasing power because of the money printer. If people switch to bitcoin it would appreciate 200% per year on average instead. I mean it will not always be this insanely high, but it will never be inflationary. But I think people will notice when their hard earned money not just loses value.
And since a lot of the middleman get cut out, business owners will absolutely notice it as all the horrible fees are gone.
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