What's PSBTs ?
Discussion
Partially Signed Bitcoin Transactions.
Allows you to create a transaction on a device connected to the internet. Transfer it to an air gapped device and sign it then return it to the original device to broadcast.
Do these individuals need to be within proximity? Sounds like it ...
When you say individuals do mean devices? Then Yes. I use my MacBook with Sparrow Wallet to create and broadcast and then a Coldcard Q to sign it. The PSBT is transferred on a MicroSD card between the two.
Sorry I'm probably not explaining it right ... So if this was to happen where someone wanted to try and intercept my so called transaction they would need to be within proximity to my transaction....
And if they are not then they cannot intercept this ..
With PSBTs none of this is happening "over the air" like it does with NFC and Bluetooth so it cannot be intercepted.
I believe its possible with NFC or Bluetooth but I'm sure intercepting the transaction activity is much more complicated than simply being in proximity. I don't know for sure however.
So basically it's unknown.... Because I've heard more so over and over that the individual / S need to be with proximity and that's the point I'm trying to make to most people .... And nobody can state it being true or not ...
With that being said it's just speculation.... 🤔
Yeah potentially. Best to choose the solution with the least amount of speculation though when we are talking about protecting our sats.
I’m sure tech will or is already developed that can be placed in high activity areas that is listening for NFC/Bluetooth data and just farming it.
The issue is that we don’t know if that’s the case, nothing on your device is aware if this is happening, and with that knowledge or lack thereof it’s best not to risk it and take the safest route. That’s what I’m doing at least.
Hey man great conversation 😁 so what is your take on me having the seed phase and the additional word for my security.... Are you saying they can bypass this ? 🤔
It seems like a far shot ....
No this is a solid setup! Just store it very securely, stamp it on metal and memorize it.
Don’t leave state on your Jade. Re-enter your seed every time you need to transact with your wallet. I know it tedious on there to use the scroll wheel to do this but it’s much safer.
Consider moving to a 2 of 3 multisig as your stack grows someday.
Thanks for the insight..
Question: I didn't know I could make it so I need to enter my seed every time I make a transaction in the jade I must have missed this ..
By default Jade should save your seed, and you just need to enter your 6 digit passcode to unlock it.
I believe you have to choose to erase it each time. It’s not required but it’s certainly safer to do so.
From Grok :
Stateless Signing Mode: The person you spoke to might be referring to using the Jade as a stateless signing device, which is an advanced, optional mode. In this configuration, the Jade does not store the seed phrase on the device. Instead, you manually enter the seed phrase (or scan a SeedQR code) each time you start a session to load the wallet temporarily. This mode is typically used for enhanced security in air-gapped setups or for users managing multiple seeds (e.g., in a multisig wallet). Once the session ends (e.g., the device is powered off), the seed is not retained, and you would need to re-enter it for the next session. This is not the default setup and is generally used by advanced users who prioritize air-gapped security over convenience.
That's cool !
Yessir this sounds correct!