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gladstein · 8w

Initial reflections on the Coldcard catastrophe, the bitcoin-only approach, and financial freedom: 1) Many people, me included, trusted and recommended Coldcard more than we should have. Especially a...

digga 🇩🇪 @digga 1785811749

You don't defeat fiat by deleting your own wealth. Many Bitcoin maximalists reject the idea of diversification. This is the real issue.

digga 🇩🇪 @digga · 8w

For a long time, many warned Bitcoiners and crypto communities not to put all their eggs in one basket. Yet, these warnings were often disregarded, laughed at, or dismissed as the words of clueless idiots. It was claimed that diversification wasn’t necessary for Bitcoin. That Show more

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theSeattleUnfreeze · 8w

I think you're conflating two kinds of concentration risk: asset concentration (what most investors think of), and security/threat model concentration. What just went down with Coldcard is like having your life savings with a single bank. Then it turns out that bank was far less secure than they cl...