hello #nostr, here goes another #bitcoin bounty. Whatever I think is best answer gets 20.000 sats zap directly today.
Let me know why this is a bad idea:
Let's say I want to create a digital recovery of my wallet, in case physical backup is lost, found or destroyed.
Here is a setup I came up with:
0. Create a single sig BIP39 Mnemonic (24 words) with a Passphrase (strong, +12 characters & mixed )
1. Write on paper. Separate into two parts (e.g. 11 / 13 words)
2. Encrypt each of the two parts with AES-256 encryption, using your Passphrase as key to decrypt (like Samurai wallet did)
*Method: Write from paper into an encryption tool separately each of the two and do it offline on a open source encryption app, then erase it completely afterwards before you go online with that device.
3. Store each of the encrypted parts separately in four or more different email clients /clouds /chats, but never leave the two of them on a single client. I thought of clients that use strong encryption as a 2nd layer of protection, like tutanota, protonmail,, element, session, signal ... why 4 or more? well if you are not trusting that any of these centralized company servers will live forever then you better diversify the risk of being locked out of your files forever. You could also store them locally, but that just defeats the purpose of them being globally accessible, not relying on a physical location or material that can be damaged/destroyed/found by unwanted.
Thanks to all for your time.
Its fun to fantasize. My authism runs strong these days lol so I wanted to get a good counterpoint to my assumption. This is a problem I thought about alot
fluterbus
fluterbus@nostrich.cc
npub1vjkh...t55k
What a time to be alive. We are live through the bifurcation of society. On one side we have a dying artificial construct of a legacy monetary system, rapidly turning into a dystopian nightmare in order to perpuate itself; on the other, we have a bright future enabled by the best money ever created: #Bitcoin, which will bring a Second Renaissance in all foundational fields of the society that embraces it: technology, science, health, commerce, culture, morals, belonging, faith, space exploration, are just some examples. The game theory is playing out well for the incumbent, as it attacks, among its many other atributes, one of the strongest forces and human emotions: Greed. This simple fact is already showing important cracks in the legacy systems ranks, which is not to be ignored: The Spot ETF approvals, e.g., which we now know happened against the will of the bureaucratic class (SEC & Co.). You may think its just a strategy to be able to kickoff a EO6102, but here lays the nuclear option that this may be another attack that will backfire right back at them. Once you taste the sweet pumps, that will inevitably come, this does something to you, ESPECIALLY when you belong to the most greedy bastardian class that have inhabited this planet: Wallstreet and The Fiat Banking Cartel
Notes (7)
ok I got a #bitcoin bounty, I'll zap directly 10.000 sats to the first best answer to this question:
When you create a wallet of, lets say 12 word seed, and ad a passphrase to it, what happens really in the background?
I'm not a programmer, but I'd like to see the real thing in the workings when this happens, if you know what I mean. I know that you create a whole new wallet by adding the passphrase, but what happens with the code? what does the Bitcoin software do when one generates a seed + passphrase.
the answer can also be a good explanatory video or article.
Thanks for your time ! Btw you can verify my history that I always pay when promised
ok lets start using #nostr for real now!
I've been addicted to twitter for the last year & I finally woke up to the fact after being banned for a day by the algo for "suspicious activity" and/or "spamming", when in reality I was denouncing spam from some shitcoiner bot accounts that crowded my posts.
same as with #bitcoin, you have to get burned on the stove to wake up & move your ass.
Also, twitter is crowded by wannabe influencers & that feels like less signal
hey #bitcoin community a friend is constantly giving me sh*t bc of quantum computers being able to crack a bitcoin seed and I can't explain this technically.
So, I want to create a 100k prize to the best answer to beat this debate. You can get this by zap or directly to your lightning or onchain wallet !
Thanks to all for reading
npub1vz0jduezztuqkuc5u4uvrqjrkr044fhs70utafet20azgcaywndsfj56eq
https://m.youtube.com/watch?v=7zq2BES6ZA8
damn what a great report ! may be your best until now.
In this chapter of "Fiat Ruins Everything", by Jimmy Song, and connecting this to what Saifedean Ammous always puts attention to: that 'Division of Labour' is the backbone of a capitalist free market economy, which results in prosperity and progress for a civilization.
It suddently "clicked" to me:
in a fiat economy, the incessant need of "re-investing" your capital in order to protect it from constant depreciation severely attacks the Division of Labour, as you have to
1. divest/dilute your attention and split your specialization efforts from your current endeavor/career, or 2. even worse, you have to outsource your financial decisions to a so called advisor/broker/family office with all the risk, fees and unproductive capital allocations that occur bc of this.
By itself, this is a regressive force for society, without even taking into account what continuous cyclical market crashes do to so many once productive actors of the economy and some of them never recovering.
hey #nostr #bitcoin fam one question: who are the best bitcoin video creator in the space?