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GM everyone

In addition to yesterdays level up, I still have a few questions about #sparrowwallet

I’m curious, why should I prefer Sparrow wallet over, lets say, Ledger Live for instance? I know I can import my ledger nano S into Sparrow, but that seems like an extra step for doing the same thing? With the addition whirlpool and so ofc.

So Sparrow is like a different way of checking your funds and doing transactions with it?

Oh and also, once imported. I just choose “open wallet” next time I want to interact with my funds? But I still need my device to actually transfer funds right?

#daretoask #asknostr #gm #pleb #plebchain

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Discussion

SatoRi 2y ago

Good Morning ☕

I can't attest to what Ledger Live is like (I've never used it), but I can give you a few highlights from Sparrow that I like ..

- bitcoin only (I should just stop there for comedic timing .. )

- offline transactions .. create a transaction for broadcast at your convenience

- utxo management .. select which utxos to use whenever you wish to move / use funds

- connection with your own bitcoin node or personal electrum server

- helpful tips and advice on how to manage your funds and use Sparrow

- useful visualisations of transaction inputs / outputs

Hope this helps

🤙🏼

binsky 2y ago

Hey man. Thanks for replying.

-Bitcoin only is one reason why I bought the Jade indeed. But I kept seeing stuff about Sparrow, and I thought I might check it out. But I don’t feel like I truly need it.

-How do these offline transactions work?

-UTXO management is nice tho!

-I’m not planning on getting my own node or server(at least for now).

-I still need to look into the tips and tricks of Sparrow tbh

- I think I’ll like the visualisations of the in-and outputs tho 😁

But like I said, I’m not planning to use that every week tbh.

7Bluerabbits 2y ago

Basically Ledger have lost a lot of trust because -

They’re are not Fully Open Source

There is a possibility they export your private keys🚩🚩🚩🚩 (as not Open Source we really don’t know)

They sometimes force you to upgrade the firmware when using Ledger Live.

They shitcoin big time.

Possibility of regulatory capture

No coin/utxo control (that I’ve seen)

binsky 2y ago

The lack of open source with Ledger is the reason why I switched to #jade indeed. But I didn’t have the time yet to play around with the #blockstream Green yet so I don’t quite know how those two compare. I’ve seen a lot about #sparrow now, people keep praising that cuz you can see the UTXOs and all that, which is nice. So I thought that was the way to go. But I’m not sure if Sparrow will be the way to go for me tbh. Cuz all I really want is a wallet, where I can transfer my funds to every now and then.

Also, I’ve seen that you can create A LOT of adresses inside Sparrow, inside the wallet you imported, thats for privacy reasons I believe?

7Bluerabbits 2y ago

I used the Sparrow / #Ledger combo last night, I think now I’m more used to it, it’s as easy as #LedgerLive / Ledger combo.

Not reusing addresses is always good practice. For example if you combine #KYC and No KYC coins you just KYC your No KYC stash.

I think the good thing about #Sparrow is you can use it for different hardware wallets, so you only need to learn a different interface every time.

I’m at the limits of my knowledge hear, so when I need tutorials I generally brush up by watching nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 tutorial vids.

Chipster 2y ago

Stupid question, but how do you know #sparrow is "safe".

binsky 2y ago

I’m also kinda wondering. But then again. How would you know #green is safe? Or how would you know Ledger Live is safe?

Chipster 2y ago

Well then I guess my question is what makes #sparrow "safer" than ledger live or #green?

7Bluerabbits 2y ago

Sparrow -on its own- used as a hot wallet is no safer than any other hot wallet because the Private Keys are stored on a computer connected to the internet.

Hardware wallets are considered safe(er) .The keys are on the hardware wallet cannot leave the device. Or that’s what we thought. Ledger announced it would be offering 3rd party key storage as a service. After previously denying it was even possible to export them.

Ledger live “could” be exporting the keys, or “could” force a firmware up grade that could export the PKs, but as it’s not Fully Open Source nobody can verify this. Unlike Cold card.

What if the government walked into Ledger head office and mandated exposing all Private Keys ?

Well now we don’t have to use Ledger Live - Sparrow (& others) can interact with Ledger hardware wallet without a forcing firmware upgrade.

(Ledger meets Cold card shootout)

What Bitcoin did - Ledger Recover with Pascal Gauthier, NVK, Matt Odell & Harry Sudock

https://youtu.be/M3VjQUcyZSY?feature=shared

Chipster 2y ago

Let me see if I have this correct regarding Ledger:

I switch from using Ledger Live for my Ledger hardware device to using #sparrow for my Ledger hardware device.

The government kicks down Ledger's corporate office door and says "give me access to this law abiding citizens private keys."

Since I'm now using my Ledger hardware device on #sparrow there is no possible way Ledger's corporate office has my keys?

7Bluerabbits 2y ago

Mostly yes except last bit.

There is no possible way for Ledger/ government to edit the firmware of the Ledger hardware device to make it export your Private Keys (assuming it can’t do that already, we don’t know because not FOSS)

It could be a genius move on behalf of Ledger cos people don’t trust them selves with private keys or the creation of a huge point of centralised failure. I believe the latter b/c if it can be fucked with it will be fucked with by bad actors/ gov.

Bottom line.

Sparrow & Cold card good b/c both are FOSS

Trust no one

Chipster 2y ago

So as I read your response (very grateful thank you and zaps coming your way)...

The safest bet for ANY Ledger user that has become increasingly paranoid and is looking to upgrade the security of their long term savings/HODL stack is to:

1. Get a cold card.

2. Create a new seed phrase w said cold card.

3. Download sparrow.

4. Do not use sparrow as a hot wallet.

5. Only use sparrow to move funds on and off your cold card.

And of course there a varying levels of security within the cold card itself (dice roll, etc.) and varying levels of security regarding how you record your seed phrase (multisig, brain wallet, metal plates, etc.)

Chipster 2y ago

While I have you one last thing since you seem knowledgeable and I'm still a noob:

Do you have any recommendations on a non KYC, non custodial, open source lightning wallet for iPhone?

Currently using wallet of Satoshi but I'm looking to upgrade that too.

7Bluerabbits 2y ago

WoS is great I use it.

I think 🧐Phoenix is custodial & No KYC

7Bluerabbits 2y ago

But KYC comes from the trail of breadcrumbs back to where you bought it from.

Chipster 2y ago

Unless you acquire non KYC bitcoin via Bisq and/or use coin join?