Nostr Web Client

After tens of books on #bitcoin , self custody my keys and completely out of all the shitcoins, I have a new goal before the upcoming halving (which in my opinion could easily become a once in a 4 year holiday!)

-Learn to UTXO my transactions

-Learn to multi sig my keys

-Start running a #bitcoin node

Does anyone can suggest a good place to start?

zariOne 2y ago

Before you ask questions about #bitcoin, you have to acquire a hunger for questions about money.

The crash of the monetary system may be gradual though, it may not be the “then suddenly”, but there are people which see it just a bit earlier than others and are willing to wait and accumulate

And as long as you think that “experts manage my wealth” is a viable strategy, you will boil the in this pot of inflation ever without realizing it 🐸

Replying to

Jor

It depends on where you’re sending from.

The transaction fees vary based on the demand at any given time.

Mempool.space is my favourite resource for checking fees.

But yes if you’re sending out of a wallet like Exodus you have to double check to see what they’re charging you. It’s best to send bitcoin when fees are low.

zariOne 2y ago

Will definitely check Mempool.space

Thank you 🙏

zariOne 2y ago

What percentage of the actual payment you make is going to fees when buying bitcoin?

Asking because my last purchase ripped me off

Replying to

corndalorian

It’s all fun and games until you realize banks have an on/off switch for your money and society is trending toward cashless.

zariOne 2y ago

Wait until you realize the banks don’t have any money in the first place

Replying to

Lyn Alden

Decentralization is rarely appreciated by those who sit at or near the center of the system.

Instead, it tends to be appreciated by those at the periphery of the system, as well as those who do sit near the center but can still see things from their perspective.

zariOne 2y ago

100 pages into you book and I just can’t get enough! It’s the slowest I’ve ever read and the most times I closed the book to reflect on it so far

Thank you for that

Replying to

🐉AT ₿01

The creation of memes does not significantly burn calories.

zariOne 2y ago

You don’t know that

Replying to

rqzer0

It's like having 3 locks on a door and you need at least 2 keys to open it. This means you can either hold all 3 keys yourself in different locations or have different people hold different keys.

zariOne 2y ago

Is that something I can create to any wallet or just specific ones?

Lets say I use ledger (ignoring all the controversy around it for a moment) can I make a multisig for my wallet?

Replying to

Jor

I think of it like cheques in the legacy system.

Most organizations require two signatures on a check. Owners, finance team, board of directors, etc.

This is meant to reduce fraud risk and eliminate the single point of failure.

Cheques cannot be written and payments cannot be made without having two signatures on the cheque.

With multi sig, this provides the same function only for bitcoin. So you can’t move any bitcoin out of the wallet unless you have two signatures.

It’s a great set up for advanced users and organizations.

There are better ways of eliminating the single point of failure for people who are newer to bitcoin.

zariOne 2y ago

Is that means that I share my keys with someone else I trust? Just a part of it? Do we need to be both present for any action I would like to take?

zariOne 2y ago

Can someone explain MultiSig to me like I am a noCoiner?

#bitcoin #nostr #asknostr

zariOne 2y ago

It usually goes like this:

-saying I don’t care about bitcoin

-arguing I heard bitcoin is a scam

-screaming bitcoin is useless

-arguing bitcoin will be stopped

-saying bitcoin has no value

-whispering bitcoin has its benefits

-thinking bitcoin could actually work

This is a one way street, every man takes his own road to check those points, but there is no way back as soon as you realize what bitcoin trully is

#bitcoin

zariOne 2y ago

Beautiful sunsets are beautiful

zariOne 2y ago

Bought 500k of freshly baked sats, at price $44200-ish. Paid $250, fees shows to be 217393 sats

Those numbers don’t add up, what am I missing. Going on a boat trip to think it through…

Replying to

ĐaꝞꭵꞧuꞩ.₿ 🟠

No way to enforce it.

zariOne 2y ago

Isn’t every wallet is traceable? What nt the wallet companies collaborate with the IS if under pressure?

Replying to

zariOne

But cant they enforce it?

Where can I store my BTC so it would be truly safe? Coldcard? Ledger? Trezor?

As of now I have not a single wallet I can truly trust that wont collaborate with the government under pressure

zariOne 2y ago

Talking as a non tech savy individual

Replying to

Entropy

Nothing is stopping them in theory.

In practice I would say that they realize that such an act is unenforceable and highlights how powerless they are to stop the protocol. It's better for them to capture and undermine it's usage than enact a ban that they can't enforce and will rile up the wrong kind of people.

zariOne 2y ago

But cant they enforce it?

Where can I store my BTC so it would be truly safe? Coldcard? Ledger? Trezor?

As of now I have not a single wallet I can truly trust that wont collaborate with the government under pressure