Hey #plebchain & #bitcoin #asknostr

SELF CUSTODY/HARDWARE WALLET QUESTION :

I have my own DIY cold storage solution. But I’m realizing that friends & family don’t have the same tech knowledge, time, or inclination to work out a similar solution for themselves.

So I’m wondering about suggesting a hardware wallet for them. The Coldcard q so far is my favorite that I’ve researched. My main hesitation is the fact that you’re ordering hardware that has been specifically created to store #bitcoin. Seems like a wide target. I’m sure Coldcard tries hard to defend against this. Sealed bags, different sourced parts, etc. How big of a security risk is a Coldcard?

Any thoughts? 🙏

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I’ll look that up. Part of it is my time is limited too. And building anything for them is going to be tricky. This is why the ready made hardware wallet is so tempting.

Thoughts on Coldcard vulnerabilities?

There’s several vendors who sell prebuilt seedsigner

My coldcard mk3 is no longer getting updates because mk4 became the hot shit. Now with the Q, the mk4 will soon be collecting dust.

Same with blockstreams jade plus being the death of the old jade.

The nostr:npub17tyke9lkgxd98ruyeul6wt3pj3s9uxzgp9hxu5tsenjmweue6sqq4y3mgl has been there all along, still updating, innovating, with no extra purchase needed. It’s by plebs for plebs.

To me it sounds like the people around you would benefit from someone having one.

Cool, thanks for that. I’ll look into that. Yea, hadn’t considered obsolescence as a problem. 🤔

Get your friend a blockstream jade and thats it. If not build a seedsigner 🤷🏽‍♀️

Trezor has Bitcoin only firmware for their HW wallets and it has been setting up standarts in the space.

Most user friendly.

Longest track record.

The industry standard.

The pioneers of HW wallets.

If you do decide to go with trezor, please use my link to their shop, I get commission as an affiliate so I can zap you guys on here with it. :)

www.cryptowolf.ca

ICE COLD STORAGE

Man, many thanks to you for a generous zap.

For someone who doesn't have the time and patience yet to DIY, a fit for purpose solution is the best you can do.

A lazy DIY has too many foot guns. Even if you follow instructions, there will never be enough warning signs for what you should NOT do.

Most people not down the rabbit hole are not thinking about government or systemic risks.

1. They are still slaves and think that NOT rocking the boat is good rather than thinking that rocking the boat is their right.

2. They are not ready to yolo in with everything they have, they will only put in as much as they can afford to lose because they accept that they don't want to do the work to not lose it.

3. They are also ready to place blame on anyone but themselves when it inevitably happens and they're rooting for it. Even if they don't say it, they think it subconsciously.

For as long as it doesn't happen and they start to see and feel the benefits, then they will start to join the team and put in the effort to enable themselves to go all in.

Agreed. SO, thoughts on bes solution for such a person? Again, coldcard q is my favorite choice so far. Thoughts?

Yeah, cold card is cool. But honestly, only you can answer your question, I can only show you the options I've explored:

1. Cold card is cool, not used the Q, but could appear complex and scary.

2. Bitkey is the most friendly but you are putting a lot of trust in Block to not go bankrupt. If they do, you may not technically lose your money, but you now HAVE to learn technical stuff to get it and you need to find another wallet solution.

3. Seed signer is a great option IMO. Its biggest benefit is that it steps aside and makes it clear what is important. You can say it 100x but people will never learn that the hardware wallet is not your keys. It is a SECONDARY copy of your keys (even though it is often the source too). Your physical backup is your primary. Seed signer is by far my favourite and I think most people don't struggle with it. They just need to be willing to be humble and take a little time to learn.

Thank you so much for all that. I hadn’t seen the bitkey. Was interested to learn about that but, yea, honestly makes me nervous giving so much trust over to Block. It gives me dry heaves to think about not having any keys to memorize or be able to know. Dependent upon a server, phone app, and hardware piece: 🤢.

Seed signer is neat. Still too techie for the people I have in mind. I’d have to put it all together for them.

Cold card is seaming like the best option even though I don’t like the idea of someone else building the thing. I’m gonna write the company and ask what their safety protocols are on that concern. Even though the Q seems complex, I think its a good trade off with independence and hand holding. 🤷‍♂️

Makes me appreciative that: A) I’m a nerd/techie/bitcoiner/psychopath who researches my own self custody and can implement it for myself.

And B) makes me concerned that as bitcoin adoption increases, what the hell are the masses gonna do!? Most people are just gonna put their bitcoin into their Wells Fargo account. 😬 yikes.

Take care & stay well.

My today seems to have been a day dedicated to this topic. This evening my mate told me that "bitcoin needs to get easier"... I might have bitten his head off.

All the memes come to mind: "I discovered bitcoin and I'm here to fix it", "you don't change bitcoin, it changes you" and "you get Bitcoin at the price you deserve".

The issue is that we are pushing bitcoin, and with good intentions too, but it isn't self motivated. The moment you are self motivated, I've seen and heard about tradesmen and computer illiterate people learning how to run a bitcoin node and operate the CLI (although that part is already easier).

I think many will custody their bitcoin to banks, and there will be rugs. Those rugs will be downplayed, they'll be socialised, people will accept it, but I am hopeful that it won't last long.

People need to be motivated to understand bitcoin and the best motivation is when the money is dogshit and all of your neighbors are using bitcoin and doing better than you.

That might be too late for you and your family from YOUR perspective, but it happens when it happens. You may set them up with a cold-card and they make all the mistakes because they're operating with one eye closed, taking shortcuts so they can get on with what they think is more important to them.

Look, we can do our best to prepare people and nudge the timeline, but we can't make people care about something they don't think is worth their time and effort.

I'm still positive because adoption is happening and fiat is failing and people are waking. I genuinely believe that people are not instinctually sheep, we are instinctually copycats and social beings. We don't want free hand outs because we're greedy and lazy, it's because everyone else has it, and it's normal to want it.

I believe if everyone around you is taking responsibility for themselves, you'll want to do it too. Right now, when someone sees you doing well, they'll want that too, but they won't want to do the work, no one else is doing work, doing work is not "normal". When you tell someone about something, they might dismiss you or ignore you, but when they keep hearing it from different people, they change their attitude.

We, Bitcoiners, are tiny in a vast of people, but we are growing and I'm positive about it. Last meme: "everyone who starts to understand our broken system becomes a doomer and has a bleak outlook, bitcoiners are positive because we see the solution and we use that positivity to build hope and advance the solution."

Totally agree. And I was so proud when I presented my Bro with the options ‘coldcard or more involved but independent DIY cold storage’ and he chose the DIY. I truly hope we are entering the new age of the Sovereign Individual. Thanks again for your thoughts. 🙏

The Bitkey is easy to use, good to recommend as someone's first hardware wallet. The Coldcard Q is great but I'm not sure I'd recommend it to friends and family.

I'm not a fan of DIY hardware wallets in general, IMO they're not as secure as a purpose built device.

DIY done right is rock solid. But none of the people I have in mind can adequately understand or have the skills to implement a good DIY. Thanks for your thoughts, I’ll look up the bitkey. 🙏