Nostr

516add19... 1y ago

I used to think Bitcoins were a computer file. Like if I had 1 BTC it would be a file on a hard drive that I could send someone. I had no idea about sats or blockchains back then. No wonder I was super confused. Probably got this idea from the news showing people looking through garbage dumps trying to find old hard drives that had their Bitcoin on them.

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Discussion

Uno 1y ago

I used to think there were physical bitcoins lol

Maxim 1y ago

I used to think BTC are really stored inside a hardware wallet 😂

516add19... 1y ago

I thought this less than a year ago. 🤣

I have come a long way.

Maxim 1y ago

Frankly, the way Bitbox and ColdCard advertise their products really makes you think this fancy thing is really there to store a heavy file with something expensive in it 😂

joe 1y ago

Before seeds you did have to backup your .dat file with all your private/public key pairs.

516add19... 1y ago

Then Im even more confused! I rather have the file I think! 🤔

How would they spend their BTC though? They would need to import it into a wallet? Kinda glad I came later, much less confusing now. 🤙

joe 1y ago

Yeah you have to load the file into your bitcoin core and rescan the blockchain for funds. The file was literally a list of all your private keys. More info here: https://en.bitcoin.it/wiki/Wallet

516add19... 1y ago

Do you know if Bitcoin Core still does it this way? Wondering if this method has any pros over seeds.

joe 1y ago

Yes, it's still very similar. I prefer seeds, much easier to backup.

mrecheese 🧀 1y ago

You accidentally an ecash.

516add19... 1y ago

True!