79
Duvel
793b77b208bf4feab1a9f3050a2f7a5167b0db2c9e801e74a4d19b8747a40614
Bitcoin Education
Replying to Avatar daniele

Say hello to Nstart, Nostr's onbarding tool!

Nstart aims to guide new users to Nostr offering a easy and no-nonsense onboarding wizard, with useful hints about the protocol and some really exclusive features:

- Easy local backup of your nsec or ncryptsec

- Email yourself your ncryptsec, as additional backup location

- Create a multi-signer bunker URL for Nostr Connect (more info below)

- Auto follow the contacts list of some old and trusted Nostr users

- Customize of contact suggestions, useful for onboarding friends & family

Try Nstart live at https://start.njump.me or watch the video below to understand how it works.

A note about the multi-signer bunker. This is really cool stuff made by nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6, that uses FROST to split your nsec in 3 (or more) and distribute each shard to an independent trusted remote signer. This will give you a bunker code that you can use to log in to many web, mobile and desktop apps without exposing your nsec. If you ever lose your bunker code, if the signers vanish from Earth, and it stops working, or if it gets stolen by a malware virus, you can use your nsec to create a new one and invalidate the old one.

More info and source code: https://github.com/dtonon/nstart

Enjoy it and send back any feedback!

https://chronicle.dtonon.com/77b9a397cbbcd63f3bfc78ff2b2c0607e4ffa698a1fad33ab4736593c8ad4f90.mp4

Fantastic tool! I'm going to use this one to onboard newcomers to nostr.

Some very small feedback:

- On the first page KYC is mentioned. I don't think everyone knows this term. Perhaps show a short explanation.

- Showing the label optional for the fields bio and website makes it more clear immediately whats required or only put required for the name field

- Instead of a brief presentation, which for me was unclear, perhaps use something like "a bio in max x char" or "a short bio" e.g.

Build a network of people you trust, transact with bitcoin and cash in-person and exclude the financial system completely. One step at a time.

Definitely. Next step is to not use a bank or payment service provider at all, and transact in-person with cash with people your trust.

Build a network of people you trust and buy/sell your bitcoin.

I frequently have to use Hal's quote for people that believe technology is evil and is only good for controlling us.

Lately I have seen content creators coming into nostr. Working together, trying out experiments would be a win-win for all of you.

Also onboarding people to nostr would also help.

Doing podcasts would be interesting for the audience and brings sats for you :-)

That is a really interesting table. Thank you for sharing.

Bitcoin allows you to use digital money as cash.

- Andreas Antonopoulos

Replying to Avatar BitcoinBrabant

The practice of withdrawing your bitcoin from exchanges on January 3rd is rooted in several significant reasons, often encapsulated under the event known as "Proof of Keys Day." Here are the key rationales:

1. **Security and Ownership**: The core principle of "Not your keys, not your coins" emphasizes that if you do not control the private keys to your bitcoin, you do not truly own it. Exchanges hold these keys, which means you're trusting a third party with your assets. Withdrawing your bitcoin to a personal wallet where you control the keys mitigates risks associated with exchange hacks, mismanagement, or insolvency. This day serves as a reminder to take back control of your assets.

2. **Verification of Exchange Solvency**: January 3rd, which coincides with the anniversary of the genesis block of Bitcoin, is used as a day to test the solvency of exchanges. By withdrawing funds en masse, users can check if exchanges can fulfill all withdrawal requests, exposing any potential issues with fractional reserve practices where exchanges might not have 1:1 backing for all deposited cryptocurrencies.

3. **Promoting Decentralization**: Bitcoin was created to promote decentralization and reduce reliance on centralized institutions like banks or, in this context, exchanges. By withdrawing your bitcoin, you're actively participating in the philosophy of Bitcoin by decentralizing your holdings and not leaving your digital assets in centralized custody.

4. **Historical Precedents**: There have been numerous instances where exchanges have either gone bankrupt, been hacked, or failed to return users' funds. January 3rd serves as a practical reminder to avoid such fates by securing your assets in personal storage. Events like the FTX collapse underscore the risks of keeping substantial amounts of cryptocurrency on exchanges.

5. **Educational and Community Engagement**: This annual event also acts as an educational opportunity for newer users to learn about the importance of self-custody and how to manage their own wallets securely. It fosters community engagement by encouraging discussions on the importance of personal responsibility in cryptocurrency ownership.

6. **Anticipation of Regulatory Actions**: There's a concern among some Bitcoin advocates that future regulatory actions might restrict the ability to withdraw cryptocurrencies from exchanges to private wallets. Withdrawing on this day can be seen as a proactive measure against potential future restrictions.

By participating in Proof of Keys Day, Bitcoin holders are not only securing their own assets but are also collectively contributing to the robustness and integrity of the Bitcoin network. Remember, while this day highlights the importance of these actions, the principles behind it apply year-round for secure cryptocurrency management.

Thanks for reminding me. Trace Mayer should return, go to Nostr and spread the word again.

Speaking of exchanges:

https://obtaining-selling-bitcoin.netlify.app/#why-move-bitcoin-from-crypto-exchange

I think because the term money is different for everyone. Because nobody living has ever experienced a gold standard and they only have seen inflation, they probably think money is not for saving, but spending. You want to save, you need to invest. That is probably their mindset.

Replying to Avatar Bitman

#POK

Definitely, that is why I wrote this list of reasons why to withdraw "your" bitcoin asap:

https://obtaining-selling-bitcoin.netlify.app/#why-move-bitcoin-from-crypto-exchange

Replying to Avatar Mike Rama

Thoughts on why I might not see certain responses on nostr:npub12vkcxr0luzwp8e673v29eqjhrr7p9vqq8asav85swaepclllj09sylpugg but I do on nostr:npub18m76awca3y37hkvuneavuw6pjj4525fw90necxmadrvjg0sdy6qsngq955 ?

Just started exploring multiple clients to see the different UX.

Example: I only see this reply on Damus but not primal

Thanks for the tip. I'm going to watch that event..