Nostr Web Client

With all this banking drama going on, people are feeling a little worried.

- Can I withdraw my money

- Will my deposit insurance cover my funds

- Do I need to take some out of the bank just in case

Well, ultimately, that's up to you, on what actions have you sleeping soundly at night, but for me, this is what I would do

- Purchase 2 hardware wallets

- Create a 3rd cold storage offline wallet using a VM

- Generate a 2 of 3 multi-sig address using those wallets

- Withdraw your #bitcoin and spend it into a #coinjoin

- Then spend those coins into an OP_HODL address and select a block height in the future, let's say 10 years

Then fall asleep for 10 years, lol or just carry on working and saving, knowing your money is so safe not even you can get to it for a decade.

So what is your setup like? How are you sleeping these days? Do you plan on stepping up your hodl security?

Bobby 2y ago

You really could get by with one signing device in a multisig setup. Just put your keys on cold steel in secure locations.

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Discussion

TheBitcoinManual 2y ago

Yep I am not saying that the be-all and end-all of the security, everyone will choose the setup that works for them. You could easily spin up cold storage on a USB thumb drive or an old computer that you don't connect to the internet at no extra cost to you

HWW are great, but they you are trusting the manufacturer and hoping that there was no tampering before you get it and that the firmware remains reliable and that you use it correctly

Everyones stack will drive them to seek the security measures they're most comfortable with using, all about trade offs

Bobby 2y ago

That’s true. It’s one reason why I like seed signer as an open source signing device.

TheBitcoinManual 2y ago

Big fan of seed signer too, which reminds me I need to get some of the last parts to build one, oh bother lol one of the side projects ive been putting off