Wenze on nostr

Recent Notes

Agreed. I think it leads to lost keys and ultimately inaccessible corn. Collaborative companies like Casa have a role on that space, but multi-sig as a whole is difficult for your average user to do r...

Wenze @SatsVault 1728221483

So what do you see as a solution for the average user then? If they can't manage a key then single-sig is out of the questions. Leave it on exchanges?

GrumpyGardener · 99w

I think a hardware wallet with a secret passphrase is the best self custody solution for most. Jade is excellent for this. They need their device and a pin. Same set up asost bank accounts... You have your debit card and your pin. And it's not about managing a single key, it's about managing multi...

catcher · 99w

I don't believe multisig and mass adoption go hand in hand:)

Wenze @SatsVault 1728221405

I don't believe that the base layer will be used for mass adoption. I do think that the ones that er using the base layer will have significant amounts of purchasing power that it warrants a proper security model such as multisig.
Also, multisig configurations have come a long way and are now much easier to set-up, especially with collaborative custody models.

I would rather have less people using Bitcoin and properly securing it then a lot staying with exchanges or getting lost due to security mismanagement.

Let's see what the developers can bring us in the coming years/decades to improve custody solutions :).

GrumpyGardener · 99w

I agree with all that.

Deleted Account · 99w

Maybe I’m naive But if no one knows you own Bitcoin And you have it in cold storage and your seed is secure What’s the problem?

Wenze @SatsVault 1728221181

How do you know your seed is secure? What about inheritance?

Deleted Account · 99w

Maybe I’m naive but if I stamp my seed on titanium and bury it in my backyard then tell no one isn’t that secure?

JMK ₿⚡️ · 99w

Welcome

Wenze @SatsVault 1728221138

Thanks!

🍊💊⚡️🌽 · 99w

Welcome fren!

Wenze @SatsVault 1728221127

Thanks!

bing · 99w

But wait, how does my family access my Bitcoin if I die suddenly?

Wenze @SatsVault 1728137389

Almost impossible without involving a 3rd party, unless the family are Bitcoiners as well.

That’s why I either set clients up with collaborative multisig or with @nunchuk_io HoneyBadger

HODL · 99w

You’re not a Bitcoiner until you… Buy Bitcoin. But then you’re like wait, I need to get these coins off the exchange. So you get a hardware wallet. But then you’re like wait, this is a ...

Wenze @SatsVault 1728137282

The problem, in my opinion, is that most people stop at or before ‘So you use a passphrase’ which leaves them vulnerable to the most likely SPOF scenarios.

That’s why we do it the other way around, start with collaborative multisig. If they want to learn more and be fully self sovereign later then go for it! But at least your bitcoin is more likely to be secure in the phase prefacing that then when you start all the way at the top of your list.

1🤙1

Deleted Account · 99w

Maybe I’m naive But if no one knows you own Bitcoin And you have it in cold storage and your seed is secure What’s the problem?

catcher · 99w

I think you can actually stop right before multisig, but you need to squeeze transactions somewhere and lightning node

Wenze @SatsVault 1728137078

Why? I think the problem is exactly that people stop just before that!

catcher · 99w

I don't believe multisig and mass adoption go hand in hand:)

Wenze

@SatsVault 1728108381

Hi! I'm Wenze, and I've been lurking on and off on NOSTR since February '23, so I figured it’s time for an introduction #Introductions.

I came here from the Bitcoin world. Just like with Bitcoin, I initially came for NGU but stayed for the revolution. Similarly, I was a Bitcoin Twitter user, but now I'm here for freedom to go up!

A little about me:
My wife and I have a 1.5-year-old, and in my spare time, I enjoy hiking, skiing, music and reading fantasy books. Currently, my favorite authors are Brandon Sanderson and John Gwynne. I’m very passionate about Bitcoin and spend a lot of time in the space. I work as an adviser at https://www.thebitcoinadviser.com/ and run my own consulting company on self-custody, https://satsvault.eu/. As a Bitcoiner with a technical background (physics), I’m such a fan of the whitepaper that I’ve launched https://bitcoinwhitepaper.eu/, the only place in Europe where you can purchase a steel version of the Bitcoin whitepaper!

I’m here to connect with like-minded individuals, but I’m also interested in connecting with people who have different passions, such as the carnivore diet, photography, nature, music, and more. Feel free to reach out!

@Relai 🇨🇭 @CODL STORAGE