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Northwest Arkansas Bitcoin
NWABitcoin@BitcoinNostr.com
npub1wqpv...fvyy
Growing a bitcoin community in Northwest Arkansas. Send us a DM or email hello@nwabtc.org
We are hosting Hardware 101 feat. Blockstream Jade this Saturday, October 5, at 11:00 am at the Fayetteville Public Library! We'll improve our stack security, build our community and have a good time doing it. Additional details can be found in the usual places; NOSTR feed, Meet Up page, Telegram chat and X. See y'all there! -Northwest Arkansas Bitcoin View quoted note →
"A hardware wallet is a special type of bitcoin wallet which stores the user's private keys in a secure hardware device. They have major advantages over standard software wallets: A. Private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext B. Immune to computer viruses that steal from software wallets can be used securely and interactively, private keys never need to touch potentially-vulnerable software C. Much of the time, the software is open source, allowing a user to validate the entire operation of the device."
"I don't believe we shall ever have good money again before we take it out of the hands of government. We can't take it violently. All we can do is by some sly, roundabout way introduce something they can't stop" - Friedrich Hayek, 05-01-1984
Upcoming workshop! Join us October 5, 2024 for a hardware wallet workshop feat. Jade by @Blockstream We will: - Overview hardware wallets - Unique characteristics of Jade - Set up your own Jade - receive and send bitcoin with Jade - Answer questions
#Bitcoin requires persistence. Persistently - Stack sats - Improve security - Improve privacy - Practice back ups - Reevaluate threat model - Contribute to the network - Try new tools - Spend and replace
"A thought experiment regarding the no-KYC ‘premium’ If you ever sell KYC bitcoin, depending on your jurisdiction, you will likely pay around 20% of your gain in Capital Gains Tax (or equivalent VAT/GST obligations). If you buy a 1 BTC at $10,000 and sell at $20,000, you are liable to pay around $2000 in taxes. If you bought that same 1 BTC with a 4% premium over the $10,000 spot price you would have paid $10,400 for the same amount of sats and the only person who knows you own them is your trade counterparty. You are still required to pay Capital Gains Tax (or equivalent), but it’s highly unlikely that your trade counterparty is subject to KYC information obligations."