I get so annoyed when people ask me about strategic reserves and cycle tops and when to sell etc
I have no idea and I don't give a shit
Just once i would love a question about how to setup a node or how to improve their self custody setup
Discussion
Where’s the best place to learn how to setup my own bitcoin node?
I have a new Jade hardware wallet I haven’t set up yet - where should I look to set it up as a multisig wallet?
nostr:nprofile1qqspnzgrfett3asxcuj0gksje6z2zxzpvgd27uvz58m9vsuqh8zzw6cpr9mhxw309a382emdv9hzumt8w4ujumn9wsargwp58qq3vamnwvaz7tmzv46xztnwdaehgunfdshxxctdqydhwumn8ghj7en9v4j8xtnwdaehgu3wvfskuep0w3hku7gpewmsc YouTube channel is a great resource to get started on this
But basically download sparrow wallet, create a new wallet, select multisig then add your signing devices
+1
Thanks!
Here's the link
There's a walk though on YouTube.
so what are your thoughts about the SBR and the top for this cycle?
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Preach it.
Exactly, but most people still see Bitcoin as an investment instead of an asset. I got a node myself and there is not one person who asked me how it works.
They thinking too hard about it. Just stack sats and you'll be fine.
I have the vast majority of my stack on a Trezor. Been stacking from multiple sources since 2016. Have a cold card now. Any advice for consolidating/moving custody to the cold card? Tried using Sparrow but got nervous I was going to screw something up
Do a couple of small transactions to get comfortable.
Send yourself two transactions from trezor to coldcard/sparrow, then consolidate it on sparrow. Fees are low right now it's a good time to experiment.
This is the way. A few small tests and track what you do and how. It’s not that difficult once you’ve done it a few times. I did exactly this.
I highly recommend trying an old cellphone + ian coleman, or jade. Please study this shit before getting to do anything. Bitcoin Self custody is just like electricity, many have died not knowing how to use it properly.
how can i improve self custody setup? let's say a trezor safe 3 and a metal backup. trezor uses SLIP39 now.
have a coldcard but like how easy the trezor is in case I pass unexpectedly
One metal backup isn't enough. Many hurricane victims learned this the hard way. Multiple backups across vast geographies.
Practice recovery with your loved ones so they are fully comfortable with the process, but maybe with a separate wallet with fewer funds
Thanks. How vast of a geography you talking here? No family out of state and I hardly travel.
Imagine your stack is 100x more valuable, because it probably will be one day.
Your family will travel to recover it in that case.
For me personally I have a backup on the East Coast and west coast
okay, bank boxes or is there some other service i'm not thinking about? buried in a state park haha? what about say, a bitcoin 6102?
appreciate you taking the time to answer by the way. nobody AFK to talk about bitcoin with and I've been thinking about it a lot lately.
Yep bank box but make sure you are also using a passphrase that's not backed up in there. Don't want a banker stealing your shit
It's not what I use, but it's a good option for sure
do you store the passphrase? i had considered memorizing one with the wife but the possibility we both pass I'd want my kids to get it and they're too young to understand this or rely on to memorize it now. recorded in a separate location?
i'll zap you some sats for your thoughts once I get my lightning stuff figured out.
Yes I think you should also backup your passphrase, memory is not reliable enough to store your life savings. Just make sure you never back it up in the same place as your seed.
nostr:nprofile1qqsw9n8heusyq0el9f99tveg7r0rhcu9tznatuekxt764m78ymqu36cpz4mhxue69uhkvun9deejuat50phjummwv5hsz8rhwden5te0wfjkccte9e3xjarrda5kuurpwf4jucm0d5hsz9thwden5te0wfjkccte9e6hg7r09ehkuef0avzrjf what do you think about storing 2 out of 3 keys of a multisig in a very remote location (relative's home)? I figure without the wallet descriptor the likelihood of compromise would be very low.
I think this is the more optimal setup, giving close family members individual keys then if you die they can get the descriptor from your estate
Would you ever make a watch only wallet with your cold storage Bitcoin.
hey, what computers do you recommend for a starter node and for a super node with lightning channels and routing
Routing nodes should be on the cloud imo
Starter node for home use grab something used, old and cheap - doesn't need much compute at all
RaspberryPi that sh*t
OP recommend a simple piece of hardware that I can use to run a node at home.
-will it do sats and BTC on one device?
-what of I want a Nostr node, do I need a second device?
-will I be able to mine enough to cover electricity costs in Alberta?
i'll have more questions
Node is different than mining. Mining is an extremely competitive business I don't recommend it, maybe you can just get a bitaxe to go down that rabbit hole and learn a bit.
Nostr relays really should be run in the cloud
You can run a Bitcoin node on your current computer, just install Bitcoin core on it
so what does a BTC node do then? transactions?
"shut up and buy bitcoin"
we're selling?
Number go up technology is powerful! Those annoying you are still living in fiat world treating Bitcoin as their new hot stock.
Once you have a single sig wallet set up can you add a passphrase at any time? What about adding multi-sig?