Coming soon to bitcoin country

👀

Lol sometimes I really miss the bear market

"Golf is deceptively simple and endlessly complicated; it satisfies the soul and frustrates the intellect. It is at the same time rewarding and maddening - and it is without a doubt the greatest game mankind has ever invented." - Arnold Palmer

Bitcoin Magazine

Golf And Bitcoin: The Greatest Games

A golfer’s guide to your bitcoin journey.

That's a really good photo, just sayin' View quoted note →

We wrote a thing on bitcoin and golf 👇

Bitcoin Magazine

Golf And Bitcoin: The Greatest Games

A golfer’s guide to your bitcoin journey.

A reminder from Rovinj, Croatia.

Stuck here with @OpenSecret after trying to swap from ecash to lightning. Already tried reloading from seed phrase. Anyone got an ideas?

Every single one of these involves printing massive amounts of money. BITCOIN FIXES THIS.

The problem with owning real estate is how slow and expensive it is to turn it into bitcoin once you figure out it's going to zero.

BlackRock bent the knee to bitcoin and now we never hear about how terrible bitcoin is for the environment 🤔

Bitcoin passphrase vs. multisig: Which is right for you? Two approaches people often consider to gain additional bitcoin security are a passphrase (a one-word secret) and multisig (secures your bitcoin with multiple keys). Let’s see how these two approaches compare. 👇 Singlesig + passphrase By adding a passphrase to your singlesig wallet, you add a 13th or 25th word of your choosing to your seed phrase, which generates a wholly separate and unique wallet from the default wallet generated without a passphrase. You can create an infinite number of passphrase wallets associated with a single seed phrase backup and hardware wallet. A passphrase adds some protection in that it distributes your risk across three critical items (your device, seed phrase backup, and your passphrase), but it still has a major single point of failure. If your passphrase is ever lost or forgotten, your bitcoin are gone forever because you no longer have the key to the bitcoin wallet. Multisig Multisig is a bitcoin custody model where you construct a wallet using multiple bitcoin keys instead of just one. Multisig is very flexible, allowing wallet developers and even users to set the total number of keys used to construct the wallet (n) and the number of those keys required to spend (m). This creates what’s called an m-of-n quorum. There are practically infinite ways to approach multisig, but the most popular approaches are 2-of-3 (three keys total, with any two keys required to spend) and 3-of-5 (five keys total, with any three needed to spend). Comparing passphrase with multisig: 7 points to consider 1⃣ Convenience - SS + passphrase is more convenient than DIY multisig but similar to collaborative custody multisig 2⃣ Ease of backup - It’s easier to back up a single hardware wallet, a seed phrase, and a passphrase than back up all the keys and seed phrases necessary to properly store your bitcoin in a standard multisig wallet. 3⃣ Availability - To understand the differences between passphrase and multisig for availability of access, you have to consider multiple possible scenarios: singlesig with and without properly secured passphrases, standard multisig, and collaborative custody multisig. Each of these has different availability of access profiles. 4⃣ Transaction costs - Mining fees in periods of low demand for block space are very cheap, leaving this category often irrelevant. However, it remains true that multisig transactions are more expensive than singlesig transactions. Using a passphrase with singlesig doesn’t add anything additional to the mining fee above standard singlesig; the mining fees are directly correlated with the number of keys involved in the transaction. 5⃣ Fault tolerance - Multisig shines against singlesig with a passphrase and singlesig in general when it comes to fault tolerance. That’s because the nature of multisig (and, again, proper key storage and seed phrase backups!) makes it very difficult to lose enough keys (and the necessary wallet configuration information) to lose access to your funds. 6⃣ Resisting attacks - Altogether, multisig has the slight upper hand for attack resistance. In 2-of-3, an attacker would have to physically compromise at least two physical locations without your knowledge and have specific knowledge that the discovered keys are used in multisig and compromise your multisig configuration information. 7⃣ Financial services - Collaborative custody multisig opens the door to financial services done in a trust-minimized way, such as collateralized loans (where three parties can share custody of funds so that all parties have transparency as to the state of the funds on the blockchain). It also uniquely solves for the problem of bitcoin inheritance. Can you add a passphrase to multisig? Yes, you can add passphrases to one or more of the keys used in your multisig m-of-n scheme. But should you? Most bitcoin users set up multisig wallets without passphrases because multisig already eliminates a given hardware wallet or seed phrase as a single point of failure. Adding passphrases can add unnecessary complexity, and unnecessary complexity diminishes security rather than improves it. ===================== Every decision you make regarding bitcoin custody involves trade-offs. Perhaps multisig helps you sleep better at night, but you might have to drive several hours to get to that second key if you want to benefit from geographically-distributed keys. Or maybe you have to wait for your collaborative custody partner to verify your identity to sign with their key. Choosing between singlesig (with or without a passphrase) and multisig isn’t an A or B choice; the answer for you might even be both! Maybe you want to secure the more significant portion of your net worth in a multisig collaborative context for peace of mind while keeping smaller amounts for easy access available in a software wallet on your phone. It’s all about looking at your situation and finding a balance of trade-offs that work best for you and your family or organization. Check out the full post on the Unchained blog 👇

Bitcoin passphrase vs. multisig: Which is right for you? - Unchained

Two popular approaches to bitcoin custody are singlesig with a passphrase and multisig. Let’s see how these two approaches compare.

6 reasons to own bitcoin in retirement 👇 1⃣ Bitcoin helps broaden your asset allocation base - Diversified asset allocation remains a well-conceived strategy for moderating risk. While still in its relative infancy, bitcoin represents an entirely new asset class. Because of this, owning at least some bitcoin, especially due to its distinct properties when compared to other “cryptocurrencies,” provides an opportunity to broaden your asset base and more effectively distribute your overall risk. 2⃣ Bitcoin offers a hedge against inflation and currency debasement - In contrast to fiat currencies, no one can increase the supply and arbitrarily reduce bitcoin’s value. This fact makes bitcoin uniquely scarce among global monetary assets. Ultimately, this scarcity, along with bitcoin’s other monetary properties, should safeguard its purchasing power. As such, owning bitcoin during retirement offers you a hedge against inflation. 3⃣ Bitcoin offers an opportunity for asymmetric returns - Its supply is fixed (there will only ever be 21,000,000 bitcoin), and demand for the asset is growing steadily. As this limited supply collides with increased store-of-value adoption from individuals, institutions, and governments, bitcoin has the potential to dwarf the returns of nearly every competing asset class. 4⃣ Bitcoin offers protection from the risk of long-term bonds - Bitcoin exists in a separate asset class from bonds; it is a bearer instrument that is not exposed to the same money market risks, such as higher interest rates that suppress the value of bonds. 5⃣ Bitcoin offers a potential solution for long-term healthcare risk - Bitcoin’s usefulness as an inflation hedge and its potential for long-term price appreciation make it interesting as an explicitly-dedicated-hedge for this rapidly increasing expense in retirement. 6⃣ Bitcoin offers you individual sovereignty - If you hold bitcoin securely in a wallet you control, no central bank can steal the value of your bitcoin by printing it into oblivion. No CEO can dilute its value by issuing more of its “shares.” Nor can a bank arbitrarily block access to or confiscate your funds. Unlike centralized financial custodians, which can be ordered to freeze or withhold funds on the whims of government or other third-party authorities, bitcoin with keys properly held is resistant to these kinds of overreach. Check out the full article on the Unchained blog 👇

6 reasons to own bitcoin in retirement - Unchained

If you're not growing your assets by the rate of monetary expansion, you're getting poorer.

Where should you store or bitcoin seed phrase backups?? 👇 A good framework for deciding how to store your seed phrases might be to consider the following for yourself or your organization: 🤔Are you using the correct custody model (should you use multisig to eliminate single points of failure)? 🤔What is the current or expected future value of your bitcoin? 🤔What is the safety status of your country/state/city/neighborhood? 🤔What unexpected natural disasters could reasonably put your seed phrases at risk? 🤔Don’t overcomplicate it. Unnecessary complexity is a security threat. You can be your own worst enemy. Each custody model comes with its own set of tradeoffs: 🔸Singlesig - You only have one seed phrase to secure, but if that's compromised, your bitcoin is compromised. 🔸Singlesig + passphrase - With a passphrase, you avoid the risky practice of using just a seed phrase, but it still allows for single points of failure—if your passphrase is lost, so is your bitcoin. 🔸Multisig - Eliminates single points of failure, but requires multiple secure locations for key material. 🔸Shamir’s Secret Sharing Scheme - Resembles multisig by splitting a single key, but requires a single point of failure at creation and spending time. Now let's talk about locations for your seed phrases. Here are a few places you should NOT store them: ❌ Out in the open ❌ A drawer/cupboard/shelf ❌ In a filing cabinet ❌ In your bag ❌ At your workplace, unlocked Here are the best places to store your seed phrases: ✅ Home safe (suitable for SS, SS+passphrase, multisig, SSSS) ✅ A second location on your property (suitable for SS, SS+passphrase, multisig, SSSS) ✅ Safe-deposit box (suitable for multisig, SSSS) ✅ A trusted family member 9 suitable for multisig, SSSS)

FIRE + bitcoin simplified strategy: 🔸Track your expenses and spend intentionally 🔸Use the 4% rule to get a conservative estimate of dollar-denominated bitcoin savings 🔸Set up automated DCA for at least 10% of your net income 🔸Sweep excess dollars to bitcoin when possible

WE ARE JUST GETTING STARTED. Marquette University professor emeritus David Krause describes the Wisconsin pension system's $100 million purchase into a Bitcoin ETF and why the small purchase matters.

Just got beat twice in a row playing Mancala with a 6 year old AMA

Gettin' after it tonight!