Episode notes
"With multisig, hardware wallets, for me, make less sense for your long-term setup because of the issue of hardware wallets storing a digital copy of your private keys. When you set that hardware wallet up, what's the first thing they have you do? Take out the card that came with the hardware wallet, write down these 12 or 24 words, and store them in a safe place.
Even with a simple multisig, you start to end up having a lot of places where you need to hide things. For a simple 2-of-3, now you need six hiding places: three for the hardware wallets and three for the backups. My argument—and not everybody is going to agree with it, which is totally fine—is that for your long-term cold storage, let the analog, physical copies of your private keys be the ones you worry about securing. Focus on those physical backups, because you are going to have to worry about how you're securing them anyway."
~ Seed
Listen to Chat_167 - Why Your Keys Matter with Seed on Bitcoin Audible, available on all major platforms:
Fountain: https://fountain.fm/episode/afPM32LwtbzpLcqnJXdT
YouTube: https://youtu.be/Tc_Pw1eYSP4
Rumble: https://rumble.com/v79tuv2-chat-167-why-your-keys-matter-with-seed.html
#Bitcoin #BTC #BitcoinCommunity #BitcoinAdoption #BitcoinNetwork #DigitalGold #SoundMoney #TechInnovation #FutureTech #DisruptiveTechnology #BitcoinRevolution #MonetarySovereignty #BitcoinEconomy #LightningNetwork #BitcoinPhilosophy #PeerToPeer #BitcoinMovement #BitcoinFuture #SovereignMoney #BitcoinTechnology #OpenSource #FreedomMoney #BitcoinMining #21Million #SoundMoneyRevolution #FixTheMoney #FinancialFreedom #FutureOfMoney #BitcoinEducation
Even with a simple multisig, you start to end up having a lot of places where you need to hide things. For a simple 2-of-3, now you need six hiding places: three for the hardware wallets and three for the backups. My argument—and not everybody is going to agree with it, which is totally fine—is that for your long-term cold storage, let the analog, physical copies of your private keys be the ones you worry about securing. Focus on those physical backups, because you are going to have to worry about how you're securing them anyway."
~ Seed
Listen to Chat_167 - Why Your Keys Matter with Seed on Bitcoin Audible, available on all major platforms:
Fountain: https://fountain.fm/episode/afPM32LwtbzpLcqnJXdT
YouTube: https://youtu.be/Tc_Pw1eYSP4
Rumble: https://rumble.com/v79tuv2-chat-167-why-your-keys-matter-with-seed.html
#Bitcoin #BTC #BitcoinCommunity #BitcoinAdoption #BitcoinNetwork #DigitalGold #SoundMoney #TechInnovation #FutureTech #DisruptiveTechnology #BitcoinRevolution #MonetarySovereignty #BitcoinEconomy #LightningNetwork #BitcoinPhilosophy #PeerToPeer #BitcoinMovement #BitcoinFuture #SovereignMoney #BitcoinTechnology #OpenSource #FreedomMoney #BitcoinMining #21Million #SoundMoneyRevolution #FixTheMoney #FinancialFreedom #FutureOfMoney #BitcoinEducation
