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nobody 1y ago

Being your own bank is a bit of work. Added a couple Cold Cards to the mix. Task list:

- update firmware on new signing devices

- clone signing devices

- export watch only credentials to mobile app for new address set

- import new wallet to desktop app for monitoring and transactions

- backup new seed phrases on laminated paper copies and steel plates with a punch

- vacuum seal seed backups and steel plates against the elements

- remove seed backups to offsite locations

- encrypt and save wallet recovery files

- check Mempool

- move UTXO’s from old wallets to new addresses to distribute evenly across all devices and ditch Ledger FOREVER

- consolidate UTXO’s on all address sets in preparation for higher fees

I can’t believe that we still have the luxury of doing on-chain consolidation so inexpensively. Our kids won’t believe we once did this in the future.

Ten years from now, block space is going to be like Manhattan real estate.

Act accordingly. Withdraw your sats to cold storage and consolidate your bitties. 🤙🏽

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Discussion

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Holdilocks 1y ago

You must feel good to have that taken care of and the security that comes with it! 🎉

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TBone 1y ago

Owning bitcoin doesn't require zero maintenance. You need to hone your skillset and revisit your security and storage as the value increases. This is a substantial list with a lot of great goals. Well done.

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nobody 1y ago

Yes this list took me 3 hours last night and 4 hours today. All in the life of a bank manager and director of security. But I’ll be sleeping like a baby tonight with all of this done and zero counterparty. It’s wild that these tools exist. And every TX going out to my own node. I love this stuff.

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vinney...axkl 1y ago

Do you have other manufacturer devices mixed in there? Or Coldcard only?

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nobody 1y ago

I’ve mixed it up a bit but this round was aimed at phasing Ledger out of my setup. Ledger swears up and down that their hardware is still safe despite offering Ledger Recover and announcing publicly that they can and will share private keys with authorities in certain circumstances, but I was already choked at them for their lack of diligence at keeping its customers’ account info safe. I’m sure at least 90% of my spam is a result of the one email address data breach they suffered, and one at Gemini. All honeypots

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nobody 1y ago

My butt still tingles every time I broadcast a transaction lol. It’s kind of stimulating doing things that have zero margin for error. I always feel like I should be doing a cleansing ceremony beforehand, like one of the great swordsmiths of fuedal Japan before they would enter their forge each morning. But then I got high.

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vinney...axkl 1y ago

God yes I know EXACTLY what you mean.

It's one of the most terrifying and exhilarating, focus-demanding tasks a (first world) person can do these days.

It feels like your participation in the future hangs in the balance.