Highlights from the Sovereign Individual, written in 1997, that feel highly prescient.

Secure elements and hardware wallets

Why are secure elements used in Hardware Wallets?

Plain and simple for UX.

If your encryption depends on a numerical PIN of a few digits you are screwed.

The secure element adds a layer of encryption so that in case you can extract the seed from the chip you can not attack it by brute force.

If you use a sufficiently strong passphrase or if hardware wallets allow you to enter a password for encryption, there would be no need for secure elements, it's all about UX.

On the other hand, in cryptography you should never trust. Secure elements are a black box, and by contract you can't even publish their vulnerabilities. What's the point of using encryption if you're trusting a third party? that's useless.

It is true that there are solutions like coldcard where two secure elements are used so you don't have to trust them, but I still think it's stupid, I don't care about the UX, I want my bitcoins to be safe.

When you understand this, you realize how stupid the hardware wallet industry is.

Want a blockcklock but not for the ridiculous price? Check this out. You can get regular updates on the BTC price, blockheight, and a halving countdown from this cool looking device.

I also haven't found a solution for who should do the dirty work

What is the dollar backed by?

Loans

To people

For houses and cars and businesses and government spending

New dollars created and backed by these obligations to pay

You and I are the reserve asset that underpins the system

The dollar is backed by you and me promising to work and pay

Literal slave money

The Slavery Standard

How many red flags can you spot in this one post? 😬

Hi, im new

Ein ganz normaler Tag im #Bitcoin   Hotel♥️

Proof of work Selfies im Aufzug😂💪

Do you remember these times when you where younger with only little cash available and you had this one thing you calculated every expense in?

For me it was Kebabs, which where 2,50€ at this time. So spending 25€ on something was like ten kebabs, which make you really think about whether it’s worth ten kebabs.

We should do this with zaps today. A Starbucks coffee is easily 1.000 precious 21-zaps that make a lot of people smile. Consider this the next time you want to buy an overpriced coffee or something similar ☺️

Let’s make ⚡️’s the standard 💜

When will people figure out?!

What is the advantage of monero, over bitcoin which has passed through a mixer? The right to privacy is important, but is there any real advantage to Monero?

Have you heard of this innovative new consensus mechanism called Proof of Wait?

🤦

nostr.band