Damus

Recent Notes

Deleted Account · 64w
Great question… I have no answer but it’s given something to chew on indeed…
ODELL · 64w
BITKEY IS STRICTLY BETTER THAN CUSTODIAL WALLETS FOR LONG TERM STORAGE. IT IS JUST AS EASY TO USE IF NOT EASIER. THERE ARE PROBABLY LESS THAN 2 MILLION SELF CUSTODY BITCOIN USERS WITH MORE THAN 10M ...
Zach profile picture
Just bought one for my sister in law and her husband.

Minor detail question - do they need to set a daily limit on the mobile key? Seems like it would be unsafe without it, as it’s a hot wallet without needing to use the hardware.

I want to make it as simple as possible for them but don’t know if I’m introducing complexity by telling them to set a limit.
Guy Swann · 65w
Every “Great Leap Forward” in progress or personal success is an illusion, it’s simply the eventual reveal of thousands of tiny steps forward. Just take a tiny step today, and another tomorrow...
Zach profile picture
This is so true. I’m starting to experience a “great leap forward“ but it doesn’t feel that way to me. It feels like a lot of work in a long time coming.

I’ve been a “entrepreneur“ for the past 10 years, and I’ve had a lot of failures and non-financial successes.

Finally, all those lessons learned are just starting to create financial success too. It’s exciting and feels like an inflection point, but if that’s all you saw…

Similar thing with my health as well, but it’s not quite so dramatic more like a steady step-by-step.
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HODL · 65w
Thought experiment. Option # 1 Let’s say you have 10 bitcoin and we hit 2 million in the next few years. You’re tempted so you sell it for 20 million dollars. After taxes you’re be left ...
Zach profile picture
Random question - what beginner wallet do you recommend these days?

I convinced my sister in law to DCA on Swan a few years ago and they leave it on exchange, which makes me nervous.

If they have roughly 0.01 BTC, an assumption, what should I suggest for her and her husband. Neither are techie.

Coldcard or ledger I’m sure is an absolute no. They won’t do it.

Previously I’d thought Muun would be fine. But if the BTC price 10x’s from here that would be a lot for a hot wallet.

Is Bitkey the best option for them?
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Zach · 65w
Maybe collaborative multisig with nunchuck & tap signer, and I hold one key for them?
HODL · 65w
Bitkey for her.
Chris · 66w
This is a good example of living the talk. I have a genuine question about Bitcoin’s deflationary economy in this example. If the Sat purchasing power keeps increasing and prices keep deflating, ...
Zach profile picture
I think ultimately every company does have to lower prices. But, because those lower prices give them the same or more purchasing power as before, they don’t mind lowering prices.

Maybe people aren’t super conscious of it the purchasing power increasing in real time, but I think the market will figure it out.