This is why self custody is a hard sell and hard to teach.
Bitcoin safe self custody checklist:
- no single points of failure/loss
- 13th and 25th word passphrases on seeds
- offsite steel backups in surveilled and/or limited access locations
- offsite laminated backups in surveilled and/or limited access locations
- no exposure to password, account control or signing capability loss by storing key material and passwords on internet connected devices or SIM-swappable phones
- no main stack signing capability directly in the home
- redundant cloned signing devices in separate secure locations
- no seed material stored directly in the home
- tamper sealed offsite seed backups
- heavily armed friends and family with rehearsed duress words
- household members who don’t open or unlock doors for unsolicited visitors including law enforcement
- family members aware of firearm locations and trained in their use
- duress wallets with believable balances
- readily available temporary border wallet sweep addresses with encrypted seed backups in multiple cloud storage locations
- encrypted mobile computing solution with transaction building and broadcasting capability
- a hard copy treasure map document that can be found in the event of your death
- an encrypted copy of the treasure map document in cloud storage
- two or more master passwords for key devices and password files, known by the few who may need them, but not until you die and they find/are given the treasure map
- routinely moved main stacks with re-done seed backups and re-done treasure maps. Without making spelling mistakes or sending coins into the void.
- reliable mobile internet access, even if it takes days to establish
- access to power, even if it takes days to establish
- resources for heirs to educate themselves on the tools
- non exchange human resources for converting sats to local currency
- weighing and reacting to the risks of bad actors trying to fuck up the protocol and the asset’s value proposition
- weighing risks of regulatory changes that threaten your savings
- planning alternate living locations that permit transaction of value in BTC.
- navigating tax liability and record keeping requirements to stay out of prison
Easy.
Bitcoin safe self custody checklist:
- no single points of failure/loss
- 13th and 25th word passphrases on seeds
- offsite steel backups in surveilled and/or limited access locations
- offsite laminated backups in surveilled and/or limited access locations
- no exposure to password, account control or signing capability loss by storing key material and passwords on internet connected devices or SIM-swappable phones
- no main stack signing capability directly in the home
- redundant cloned signing devices in separate secure locations
- no seed material stored directly in the home
- tamper sealed offsite seed backups
- heavily armed friends and family with rehearsed duress words
- household members who don’t open or unlock doors for unsolicited visitors including law enforcement
- family members aware of firearm locations and trained in their use
- duress wallets with believable balances
- readily available temporary border wallet sweep addresses with encrypted seed backups in multiple cloud storage locations
- encrypted mobile computing solution with transaction building and broadcasting capability
- a hard copy treasure map document that can be found in the event of your death
- an encrypted copy of the treasure map document in cloud storage
- two or more master passwords for key devices and password files, known by the few who may need them, but not until you die and they find/are given the treasure map
- routinely moved main stacks with re-done seed backups and re-done treasure maps. Without making spelling mistakes or sending coins into the void.
- reliable mobile internet access, even if it takes days to establish
- access to power, even if it takes days to establish
- resources for heirs to educate themselves on the tools
- non exchange human resources for converting sats to local currency
- weighing and reacting to the risks of bad actors trying to fuck up the protocol and the asset’s value proposition
- weighing risks of regulatory changes that threaten your savings
- planning alternate living locations that permit transaction of value in BTC.
- navigating tax liability and record keeping requirements to stay out of prison
Easy.
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