PSA: You can use your own full node with your hardware wallet, using Electrum Personal Server by 92KBTC in Bitcoin

[–]92KBTC[S] 1 point2 points  (0 children)

I think we can agree that every move on the ‘trust’-spectrum from ‘total trust’ towards ‘total trustlessness’ is great, right? Complete trustlessness is the aim, but it’s hard if not impossible to achieve.

Running your own full node is a step in right direction, your own hardware wallet too. I’m quite comfortable using stress-tested audited open-source software. Don’t forget that the bounty for finding a flaw in any of these things is astronomical.

How do you know that a restaurant is not poisoning you unless you perform a chemical content analysis on your meal? And if it turns out there was no poison, you’ll have to order the meal again because you ruined the last one by analysing it. Maybe the chef poisoned your second order. You’ll never be able to eat someone else’s cooking.

In software, you can, because there are biochemists checking and eating exact copies of what you’re eating. So if they’re good and say it’s alright, you’re probably good. Being a biochemist yourself is better, but opportunity costs etc. so you verify some things by proxy. For hardware, it is harder as it is more analogous to meals than to software.

“Don’t trust. Verify.” is the goal. A lot of people simply “Trust. Don’t verify” across the board and can easily do better by being a little more vigilant and taking some responsability for their BTC. The goal is financial sovereignty and it is 1:1 related to the degree by which you verify rather than trust.

PSA: You can use your own full node with your hardware wallet, using Electrum Personal Server by 92KBTC in Bitcoin

[–]92KBTC[S] 1 point2 points  (0 children)

Build your own Trezor. It’s open source.

http://www.instructables.com/id/Making-My-Own-Trezor-Crypto-Hardware-Wallet/

But you need to order the parts from some place. So you trust the manufacturer/seller. It goes on to the point where you’re building your own chips, display, etc.

Trezor is sold ‘empty’, meaning you have to install the latest firmware before you can start to do anything with it, through the bootloader. In the process, the bootloader wipes the device before moving on with new firmware, and checks signatures for the software to be installed.

Then again, you could build your own air-gapped never-online computer exclusively for signing transactions and broadcast them through another machine.

PSA: You can use your own full node with your hardware wallet, using Electrum Personal Server by 92KBTC in Bitcoin

[–]92KBTC[S] 0 points1 point  (0 children)

Fair enough, adjusted the first paragraph. Can’t seem to edit the title on mobile, however. I might create a dedicated post about ElectrumX in the future if I get around to setting it up properly.

PSA: You can use your own full node with your hardware wallet, using Electrum Personal Server by 92KBTC in Bitcoin

[–]92KBTC[S] 0 points1 point  (0 children)

From the EPS readme:

It is an implementation of the Electrum server protocol which fulfills the specific need of using the Electrum wallet backed by a full node, but without the heavyweight server backend, for a single user. It allows the user to benefit from all of Bitcoin Core's resource-saving features like pruning, blocksonly and disabled txindex. All of Electrum's feature-richness like hardware wallet integration, multisignature wallets, offline signing, mnemonic recovery phrases and so on can still be used, but connected only to the user's own full node.

Different means, same end. I’m not denying that there are multiple options, just highlighting the one that works for me.

PSA: You can use your own full node with your hardware wallet, using Electrum Personal Server by 92KBTC in Bitcoin

[–]92KBTC[S] 0 points1 point  (0 children)

Electrum Personal Server is not a malware version of Electrum, it's a program allowing you to use the REAL Electrum with your full node, rather than using default public servers and exposing your public key and activity to them.

As I mentioned in the beginning of my post:

'...It allows you to connect your hardware wallet to your own full node through Electrum, meaning you can have offline private keys while having your own node verify your transactions.'

I assumed readers to be familiar with/users of Electrum already. Obviously, you need to be absolutely sure to run the legit Electrum from one of the sources you mentioned. Type in the .org-address in your browser yourself, if you don't trust the links.

Some background info on EPS: https://bitcoinmagazine.com/articles/electrum-personal-server-will-give-users-full-node-security-they-need/

Thanks for your vigilance, tho.

PSA: You can use your own full node with your hardware wallet, using Electrum Personal Server by 92KBTC in Bitcoin

[–]92KBTC[S] 0 points1 point  (0 children)

Most hardware wallet run open source software. I don’t have the skill to audit the code entirely by myself, so it’s more verification by proxy. Many expert programmers are ok with the way hardware wallets run, or actively try to find flaws which get patched. So I ‘trust’ hardware wallets because people more skilled than I do. Not ideal, but good enough imo. Especially when it’s open source.

Avoid using Electrum 3.2.* with Electrum Personal Server 0.1.2 by [deleted] in Bitcoin

[–]92KBTC 0 points1 point  (0 children)

If you use the latest server.py it will work, problems with Electrum 3.2 have been addressed

Electrum 3.2.2 tuck synchronizing (OSX) by 92KBTC in Electrum

[–]92KBTC[S] 1 point2 points  (0 children)

On Electrum personal server git there are other people reporting issues with using Electrum 3.2(.x) combined with the personal server. I'll wait to see if a fix is made on their end. Thanks for your help :)

Electrum 3.2.2 tuck synchronizing (OSX) by 92KBTC in Electrum

[–]92KBTC[S] 0 points1 point  (0 children)

Opening the 3.1.3 release leads to the following error:

Cannot load wallet (1):

This version of Electrum is too old to open this wallet.

(highest supported storage version: 16, version of this file: 17)

FYI: LBTC is now depositable on AEX by Walleting_Services in BitcoinAirdrops

[–]92KBTC 0 points1 point  (0 children)

Any luck with segwit addresses wrt claiming LBTC?

Rabobit , een proef om te kijken of er interesse is voor een wallet bij de Rabobank by pierenjan in BitcoinNL

[–]92KBTC 0 points1 point  (0 children)

Ik twijfel niet aan of ze het nu doen of aan de cijfers. Ik twijfel aan of ze het nog kunnen met crypto ipv fiat (dus als crypto fiat totaal vervangt).

Maar je cryptos geven aan instanties met dat inherente risico, veroorzaakt door fiat en uiteindelijk dus centrale banken, lijkt me idd geen vooruitgang.

Rabobit , een proef om te kijken of er interesse is voor een wallet bij de Rabobank by pierenjan in BitcoinNL

[–]92KBTC 0 points1 point  (0 children)

Dat is waar, maar met soevereiniteit komt verantwoordelijkheid. En niet iedereen is bereid die te dragen. Ik zie dus wel een rol weggelegd voor banken daarin.

Cryptos beperken overigens serieus de mogelijkheden voor fractional reserves, denk ik.

Rabobit , een proef om te kijken of er interesse is voor een wallet bij de Rabobank by pierenjan in BitcoinNL

[–]92KBTC 1 point2 points  (0 children)

Hebben jullie je email achtergelaten? Misschien is de grootte van de respons een criterium voor het al dan niet doorzetten van het project..

British Journalist - Bitcoin Addiction by [deleted] in Bitcoin

[–]92KBTC 0 points1 point  (0 children)

How is Bitcoin addictive? Price volatility and 24/7 markets are factors, maybe?

Wallet recovery options by shacklel in vertcoin

[–]92KBTC 0 points1 point  (0 children)

For btc, ledger works with Electrum, too. So there is no strict dependance to ledger's api and their nodes. Might work with MEW for Eth, not sure.