Subnostr

Since we’re back at $42K again today, it reminded me of the wild story of MtGox, the infamous exchange that was riddled with scandal and ultimately collapsed in early 2014.

In 2011, its founder Mark Karpeles tried to prove its solvency by moving exactly 424242.42424242 BTC, worth $5.5 million at the time, which would be $17.7 billion today.

It was a zero-fee transaction. 🤯

Charlie Crown 2y ago

Hey what’s your setup recommendation for a jade?

Trying to decide between setting it up as a signing device (keys do not persist) and setting it up airgapped with QRs (using Blockstream’s virtual secure element).

Also, should BIP39 be common practice?

Reply to this note

Please Login to reply.

Discussion

The Daniel 🖖 2y ago

Yes on BIP39 unless you really want to geek out on building your own entropy. You could end up making a mistake somewhere and that could be a disaster. I’ve never used it as just a signing device, but I don’t have any concerns about its physical security.

Charlie Crown 2y ago

So should I use it with the green wallet app over Bluetooth? Or do you think airgapped with QRs is better?

Tradeoff is I would need to scan multiple QRs every time to make a transaction. What do you think of storing the seed as a QR?

The Daniel 🖖 2y ago

Bluetooth, yes. I wouldn’t want to store the seed phrase QR somewhere that has to be frequently accessed.

Charlie Crown 2y ago

Wow I did not expect that recommendation.

Will definitely take it into account. If you had a jade and a Coldcard, how would you take advantage of both?

Charlie Crown 2y ago

Some argue that a passphrase is just a 2 of 2 with a single point of failure.

What are your thoughts?