One of the friends that I got onto Bitcoin lost his phone and he never saved his seed phrase. It's just gone now.
Yesterday another friend got a new phone and was angry with me and he didn't have access to his wallet. Today he messaged me saying that he had found his backup. I just helped him restore the wallet.
I hope he learned his lesson.
Long story short, I don't think I'm never going to onboard anyone onto Bitcoin again. People just tend to lose their shit; and don't say that it's a contribution to the scarcity.
Login to reply
Replies (12)
Key Manager in Passport fixes this.
https://docs.foundation.xyz/passport/passport-menu/settings/extensions/#key-manager
Key Manager fixes this.
https://docs.foundation.xyz/passport/passport-menu/settings/extensions/#key-manager
nostr:nevent1qqs8w32l9qkysxm2jz29nak5mtxs9rdf7pltpntjxxtexkcnk74n4agppemhxue69uhkummn9ekx7mp0qgsda6t4rqrhszqfzazsz4zpj5ads9xz9482a2axn93ctg7hms73j8srqsqqqqqpcyu8fc
Maybe start them off nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en and let River hold it until he learns how to self custody. Also Bitkey has a noob proof solution nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m . Also nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle Strike can onboard and educate your friends. Keep going!
Seedless backups are they way to go for noobs. For small amounts check Envoy wallet. For larger amounts check Bitkey.
Love it and I understand Passport is user friendly; still not ideal for these buddies I mentioned lol
Like the ones that use email?
No kyc only
No, the idea is that you use Key Manager on your Passport to give them keys. Then when they lose their backup, you can recover for them.
Question: The passport now lets you generate an nsec based on the stored Seedphrase.
Many people already have an nsec (not based on the seedphrase in the passport). Will there ever be an option to store an nsec (not based on the seedphrase) in the key manager on the passport? I would like to save my nsec just like my precious sats but don’t feel like creating a new nsec based on the seedphrase in my device and needing to rebuild my network with the new nsec. Would be great if we can manually store one or more nsec in the device.
I understand now! That is a neat feature!
Agreed. Will push for that as I know it's useful.
🆒
😎💜