breaking down bitcoin, custody, what happened with this coldcard incident and why self custody is far from dead.
incredibly dark time but we will prevail.
going live in a few minutes:
https://www.youtube.com/live/QU1nJ4b6Hro?si=kZ1fXzLeAGY--ctF
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Self custody is sovereignty. As Epictetus said, the uncontrolled are slaves. Own your keys.
I find it ironic that the rhetoric around bitcoin only wallet hardware was the one that got hacked. Principle still true, but nothing enforceable.
Guys it's simple
All you need to do is buy 3 hardware devices, each from a different manufacturer, for a multi sig setup
Purchase a LLM subscription to audit and verify the codebase for each of the three wallets
Roll dice 300 times to generate the seeds for each device
Stamp the seed words into metal plates and geographically distribute them to avoid risk of loss, theft, or fire
And ensure when you send bitcoin to the multi sig setup you check all numbers and letters are correct and in the right order to avoid losing funds when sending to the wallet
It's super simple, the future of finance and mass adoption is almost here
Any hint or whiffle of a narrative that "Self-custody is dead now" needs to be slapped and shutted the fuck up like the Satanic psyop it is.
BPI's 3-minute explainer is good for contextualizing the attack and calming down frazzled normie nerves:
Not exactly that. You need to stamp all three xpubs plus the wallet descriptor (which encodes script type, derivation paths, and key ordering) onto at least two of three metal plates besides the seed. Assuming you were implicitly targeting a 2-of-3 quorum setup.
So that's it: multisig is simple, but harder than single-sig because it has more moving parts.
You were on the list of people that have promoted coldcard.
No apologies for recommending something you don't understand and couldn't verify yourself?
You also forgot strong passphrases on each seed. Too bad, funds swipped. Should have self custodied harder and better
Really useful ELI5 style explanation. Worth watching!
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Enjoying this podcast. Could you imagine if every CEO had a long-form podcast like this talking about their industry/ company every week? I bet 90% of CEOs couldn’t do it. You can tell pretty quick over a long-form podcast how intelligent/ honest somebody really is.
I appreciate the honesty and the transparency. Very open source, Bitcoin-like ethos. That’s why I support you by using Strike. Keep up the good work @jack mallers !