trusted third parties are security holes - custodians can rug you without notice - learn how to hold bitcoin yourself - become unruggable 🫡
Discussion
Jamás dejaría bitcoin en los intercambios, es como prestarle tu dinero al banco 🤮
It’s not as hard as people think
Rugs will continue until personal responsibility improves.
Woke up this morning and saw an article on zerohedge about an executive order that Biden put out last year giving the government power to freeze your money. I never saw this report before today and I was surprised that I didn't even care. Before bitcoin I would have scrambled around panicking trying to do something about it. Instead, I just shrugged and went about my day as usual. Becoming unruggable is good for your mental health.
This is a strange one... Normally you're given nothing. But here you're being told to talk to police? And specifically Israeli police... My wonder is... Is this person Israeli or is this related to the war on misinformation?
I don't know if I believe this post or not tbh. Feels off.
On this topic, I am currenlt ticked off at River where I recently opened an account. My plan was to transfer sats I purchased to my Sparrow wallet. Customer support at River told me I need to have an account there for 3 months before I can "apply" to be allowed to withdraw bitcoin. WTF!? I thought River wasn't full of suits but apparently they are. Thankfully I didn't put a ton of fiat into River while I wait 3 months.
Odell, I hold my assets in #ledger x. I don’t feel 💯 percent peace of mind. What you think? 🤔
Any other options?
Ledger is closed source and recently implemented features to - supposedly only with your consent - send the private keys off device. I would rather trust Trezor or BitBox02.
You might find my project helpful: https://walletscrutiny.com/
That means you hold your own keys, so you’re good.
However, Ledger doesn’t have the best reputation in the hardware wallet business.
If you want to upgrade, you could go for a Coldcard by nostr:npub1wu4aye7ll0lnrrg638e90sehzsgpzx5t39t3mwl05aa0d0ap08esdz3vw0 and combine it with Sparrow.
nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 has great tutorials for this.
PS: I’m not nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx , just a dude looking to give some advice where needed ;)
If your Bitcoin can be seized by a single act by the state, you’re doing it wrong.
Great advice.
🫡
there will be no place 2park $hit - except mainnet onchain 😯
Not your keys …
What I tell people is that self custody is the actual point of bitcoin.
Can’t be rugged with OnRamp. Gubment can still rug your ability to use your non KYC stack. Unless we’re all destined to move to El Salvador? Which is a hard ask for those of us with families, communities, churches.
of course you can get rugged by onramp, multisig custodians are better than single sig custodians but they are still trusted third parties that can act maliciously or be pressured by government
UK multisig custodian partner Coincover looks shifty
Perhaps. But that’s what I’ve been trying to sort out with y’all. Obviously self custody first. But do you/we perceive the attack vectors I’m throwing down as valid? If so, then doesn’t it make sense to, at minimum, have a side pot with a multi sig custodian who is aligned in worldview like OnRamp? At least OnRamp acknowledges the need for multi jurisdictional optionality and has critical mass/scale to get ahead of the onslaught. Not everyone is a single coder bro that can simply bail out to El Salvador. The lack of acknowledgement and seeming unwillingness to beat up some of these very real attack vectors is an indictment of our team’s values or perhaps an indication of a naivety about how ugly it’s gonna get when Rome 2.0 starts to burn. I have yet to hear an intelligent rebuttal from anyone. Ape-ing memes aka virtual picketing (90% of nostr) isn’t an intelligent argument that’s going to create converts with conviction. Losing the normie masses loses the war. Feel me?
Did more recon. It’s not OnRamp for now unfortunately. Some of these young dudes are gonna need to get humbled a bit before old money is going to take em serious. Back to pestering uncle nostr:npub1nvxnc8egjlhpqtzrxmav3yk8frf3p7y9wujgwrcgwep2xr77xrvsa0paqn
Meaning...you're right about getting rugged with OnRamp. So then what? MultiSig yourself on ColdCard and take a couple flights? nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
Lol what a loser. I wonder why he holds btc in the first place. Could also own a standard shekel account on any israelian bank.
NGMI.
Not your keys, not your coins. Imagine having your life savings being dangled in front of you like that.
That's messed up man
I cant stand them, face scanning of multiple angles for the "future " of money? No thanks