Had there been a different bug in the code, it may have resulted in a situation where people who rolled dice got compromised private keys, and people without dice got everything right. View quoted note →

If meteors are called *falling stars*, then satelites could be called *running stars*. Or *machine stars* - I like that better.

How many will loose fund due to a forgotten passphrase? Remember, not loosing passphrase is as important as not loosing seed. If you loose it, there is no way to get in.

# next topic: points of failure #bitcoin is your seed in one place only? There is a non zero chance that it will be accidentally lost/destroyed. For the sake of argument, lets suppose the chance that this happens in your lifetime is 1%. You are safe with 99% probability. Now suppose you have 2 copies. You are fucked ONLY when BOTH get lost. That is 1%^2. Now you are safe with 99.99% probability and fucked with 0.01% probability. Pretty good! Issue is that there is also a non zero chance that someone finds a copy and steels funds after. By making 2 copies, we just doubled the chance of someone stealing it. Suppose that there is 1% chance of theft in your lifetime. We are fine only when NEITHER get found. That is 99%^2 That makes 98.01% probability that it is safe and 1.99% probability that it gets stolen. Pretty bad! Is there a better way? YES! Suppose you have a *seed* and a *passphrase*. We saw in the example above that having secrets stored in mutliple locations significantly decreases chance of loss. However, chance of theft got worse in the previous example. But now, with passphrase in the equation, a thief would have to find BOTH seed and the passphrase. Homework: Bob has got 2 identical copies of a seed hidden in different spots. And he has got 2 copies of his passphrase in yet another 2 different spots. That is 4 different secret spots total. In order to retrieve signing keys, he must retrieve one copy of a seed and one copy of a passphrase. What is the chance that he gets fucked by a loss or a theft in his lifetime? (assume same probabilities as in example before)

I saw couple posts suggesting that instead of a hardware wallet, you should just use a computer with linux on it. This is a horrible advice.

Clavicular now looks like he is a son of Robert Breedlove

Pantheon of gods. Yet only those who sail storms, can know which are real.

Flooded with symbols, but silence will tell the truth, when reason deceives.

📻🎶