UKBitcoinMaster
· 4d
🇬🇧 BITCOIN | COLDCARD - What an absolute sh*t show! (Ep 837) 🚀
…now up on all the usual podcast platforms!
#Bitcoin #btc #cryptocurrency
https://bit.ly/4bnZ435
Omg Brian, your heart must have sank when you realised your seed words were at risk. Thank god you secured your funds. 🙏
Coldcard have alot to answer for!
Bitcoin's greatest strength is the ability of everyday users being able to take self custody. We all need to look at this disaster as a learning experience, so that we become stronger going forward.
I think we should all have a think about our self custody set up. Multisig setup with different hardware devices will mitigate against a potential seed failure with one hardware provider. If multiple hardware failures occur simultaneously across different hardware devices, then setting a 13th/25th word passphrase for each seed phrase on each hardware device seems essential now. And creating your own passphrase using a dice with maximum randomness is something we can all do. Its something we should all think about. It is the only way to know the job has been done properly.
Dont trust, verify!
Giving up on self custody is not the answer. Then we are just trusting a third party, and we have no idea whether the third party will not make a mistake. Self sovereignty is key. And bitcoin self custody provides the ultimate financial freedom.
I am so sad to hear all the stories from people that have lost their life saving. Dont give up, keep strong, and remember, bitcoin is still tiny at the moment. You have time to rebuild. Bitcoin is still on the road to 100x and beyond. So you have time to restack and still be able to live the life you have always imagined.
My heart goes out to you all. 🧡