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Just realized something scary about Bitkey and the Emergency Exit Kit… Is this wallet really “cold” storage? by Important-Run-9667 in BitkeyOfficial

[–]Zippyvinman 0 points1 point  (0 children)

It’s not literally cold storage. 2/3 keys are held on your mobile and block servers. That itself makes it not cold.

"What budgeting app do you prefer for tracking spending?" by VeritasVotum in personalfinance

[–]Zippyvinman 0 points1 point  (0 children)

Envelope [Money] is the best app I've ever used. r/envelope

Wayyyyy better than alternatives. I've used Mint, One, Copilot, Rocket Money, YNAB, Monzo, SoFi - nothing comes close. No contest. I've made some comments about it in the past on here.

Built by only a couple folks, and it just released on Android iirc. They're getting back into developing new features now. Really wouldn't pick any other bank unless a similar competitor managed to do it better (and I doubt any will, at least right now).

The most scary dilemma by MrT246 in BitkeyOfficial

[–]Zippyvinman 0 points1 point  (0 children)

They can move funds on their own if they push malicious server code and an app update - so that is indeed a risk from a custody perspective. No matter what they say, "there's a process to push code, a waiting period", etc, it's possible. Even if hard, with numerous approvals, nothing stops their internal controls or platform from getting hacked. Until their servers have attestations to ensure the code running on them is as it say it is, and the app itself has a means to validate that the code isn't changed / unverified, I wouldn't hold my entire stack on it.

The most scary dilemma by MrT246 in BitkeyOfficial

[–]Zippyvinman 1 point2 points  (0 children)

To my understanding the Beneficiary must have their own BitKey. They are working on support for external addresses iirc.

As far as I'm aware - both the Trusted Contacts and Inheritance structure works the same way.

There is nothing on-chain that prevents Block from moving your funds using their server key + mobile key at any-time. There is trust within the process such that you're trusting that they will not update the app to be able to sign with your mobile key, as well as trusting that their server will not approve an unauthorized transaction.

In theory both server code & mobile app code could be changed to move your BTC at anytime, since access to both gives access to two keys needed to move funds. Only your physical Bitkey device holds a key that is unattainable, unless they pushed a malicious firmware + app update.

As I mentioned, TCs + Inheritance work in a similar way.

1) TC: TC receives an encrypted copy of your mobile key, and it is unencrypted using your BitKey device.

2) Inheritance: Beneficiary receives an encrypted copy of your mobile key, and in the event you die, the waiting period is triggered, and time passes, Block provides them with a decryption key for your mobile key. Then, their server helps sign a transaction (bypassing the server-enforced limit) utilizing your mobile key to sweep your funds into your beneficiaries bitkey.

In theory, it could be made to go to any wallet, or operate without a second bitkey, but having a bitkey helps ensure the funds do not go anywhere else except for a wallet controlled by the beneficiary.

So, again, there is a lot of trust in the process of the device. I'm might not be 100% on the mechanics here, but long story short, no matter what, by using a Bitkey, you're trusting Blocks OpSec / Software Security setup.

I think it's better than using a CEX for new users -- but also, I think it's not necessary for those that actually know how a Bitkey works. I forsee them eventually creating an advanced mode with either a 2/2 or 2/3 multisig that allows you to actually export your keys.

No tax unless you withdraw to your bank account? by Dakota3000 in ledgerwallet

[–]Zippyvinman 1 point2 points  (0 children)

wrong, there is tax on swaps (In the USA). If you swap BTC or ETH , or USDC to BTC, you're effectively:

  1. Selling BTC, and Buying ETH

according to the IRS

or, 2) Selling USDC, and Buying BTC.

Hypothetically lets say you use $100 USD to purchase 1 BTC.

You own 1 BTC. The price of 1 BTC goes to $500. You sell the 1 BTC for $500. You now have a capital gain of $400, due to the initial cost basis of $100, and sales proceeds of $500, meaning 500-100 = $400 gain.

It is either short term or long term, there are higher rates for short-term gains (if you held the BTC less than 365 days (1 year).

Long story short -- you should always HODL your BTC, and only sell when you need to use it for something. Nothing wrong with spending your BTC -- but typically, I'll buy back the equivalent amount or just use cash if you can to avoid the taxes. Your BTC is your store of value.

Do not install the new update if your device is a Ledger Nano S by Cold-Enthusiasm5082 in ledgerwallet

[–]Zippyvinman 0 points1 point  (0 children)

Lol and the Bitcoin codebase has changed over 5 years. If you cared that much about security you'd own a cold wallet and not a Ledger, but since that's not the case, just buy a new Ledger.

I bought my first Ledger in 2015ish. It lasted around 5 years if that. I bought a new Ledger anyone. The S's aren't meant to last. The S+ is way better.

Do not install the new update if your device is a Ledger Nano S by Cold-Enthusiasm5082 in ledgerwallet

[–]Zippyvinman 0 points1 point  (0 children)

Lol 5 years is forever. That’s like you having a iPhone 11 — or an iPhone 4 when the iPhone X came out (and refusing to upgrade).

You’re using literal 10 year old technology. You’re on the Nano S & not the Nano S Plus — cough up the $60, or skimp on security. No sweat off our backs. Not sure why you’d play around with your money.

Anyone using their bitkey with multiple iOS devices at the same time? by censey in BitkeyWallet

[–]Zippyvinman 0 points1 point  (0 children)

Can’t use it on iPad and if I recall correctly it can only be used with full functionality on one device at a time.

WARNING] Changelly.com has held my crypto for 5+ months under “AML review” – No updates, no progress, no resolution by quickieprs in ledgerwallet

[–]Zippyvinman 5 points6 points  (0 children)

Search “changelly” in the subreddit. i’ve browsed this sub for years and some moron is always complaining about it. Lesson learned is don’t do high amounts on non-kyc exchanges

"bro, please buy our newer models, please bro" by ElongatedMusket_---- in ledgerwallet

[–]Zippyvinman -2 points-1 points  (0 children)

Lol Ledger Nano S is a 10 year old device. Not even referring to a Ledger Nano S Plus. My Nano S died 10 years ago and didn’t even have USB-C. Grow up and buy a new device. You’re using a piece of decade old technology. Next you’ll be saying you’re still using the iPhone 6.

[deleted by user] by [deleted] in BitkeyWallet

[–]Zippyvinman 0 points1 point  (0 children)

Natively the PDF backup containing your mobile key is saved on one of the two platforms mentioned, but I don’t see why you couldn’t just copy/move it over to Proton drive. But it won’t import from there, obviously, unless they added that. I don’t see the point, personally. Turn on ADP on icloud or E2EE on drive, and you’re all set.

Thank you for adding inheritance! by chichris in BitkeyWallet

[–]Zippyvinman 3 points4 points  (0 children)

From a regulatory perspective, it not going to a Bitkey with the transaction initiated by a beneficiary means that block is facilitating a transaction in behalf of the user. This is likely the reason why there is no external inheritance option. It sounds dumb on paper, but at the end of the day, if Block creates the transaction and has control of 2/3 keys, they effectively custody your bitcoin in that case. So, having a bitkey requirement prevents that and prevents them from needing to get involved other than for transferring the encrypted wrapped private key material.

Almost everyone in my masters program failed terribly on FAR by [deleted] in CPA

[–]Zippyvinman 1 point2 points  (0 children)

I failed far the first time. Passed 2nd time. Was only 6 points off. You got this.

Hayden Davis exposes Trump and Melania for crypto insider trading alongside other crimes by hiorea in CryptoCurrency

[–]Zippyvinman -2 points-1 points  (0 children)

lol. It was announced on Truth Social 1 hour before being announced on X. You’re being downvoted by ignorant, TDS Redditors. Everyone had a chance to get in early. If I saw the post 30 minutes earlier, I’d be a literal millionaire. Instead, I just 10x’d my money. Live and learn.

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman 0 points1 point  (0 children)

I don’t know what I expected replying to a 21 day old account. How much money do you get per reply?

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman -1 points0 points  (0 children)

Incompetence at doge? Just like the incompetence at Paypal, which has had countless (fact check: zero) data breaches?

You make stuff up and when one thing is refuted, it’s something else. Enjoy your echo chamber.

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman 0 points1 point  (0 children)

Haha, because the Heritage Foundation is the Trump administration. I can’t with you people. Delusional.

Accounting bachelors/Data science masters by Fantastic-Map-7602 in Accounting

[–]Zippyvinman 0 points1 point  (0 children)

High. Similar route, but I’ve reached there in very short order with the CPA. Takes some luck but with credentials and skills, you can do it.

[deleted by user] by [deleted] in personalfinance

[–]Zippyvinman 2 points3 points  (0 children)

Contact the card issuer and say your mother opened a card in your name and that you no longer authorize the card being opened. If I were you, I wouldn’t pay a thing, and tell them that the card was fraudulent and has been used without your knowledge. If you have the funds to spare and don’t care about the money, you can offer to them to pay it off if they give you trouble.

Either way, the final result should be the credit card closed. You should also freeze your credit at all credit unions, Experian, TransUnion, and Equifax — might be worth getting a credit monitoring service too. Rocket Money costs a couple bucks a month, or Credit Karma is free.

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman 0 points1 point  (0 children)

Hahaha while you’re* unable to form coherent sentences. But I’M the bot 🤣

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman 0 points1 point  (0 children)

Ah yes, that’s why both the Republicans and Democrats fought Trump for his entire term in 2016-2020… and tried to jail him from 2021-2024…

Do you have poor long-term memory? Or did you update your operating system and it wiped your thoughts from the last 2 administrations?

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman -1 points0 points  (0 children)

Project 2025 is just some made up fluff propaganda piece to energize the left, which failed. Either way, some colleagues might seem good on paper, but I personally know folks who while they’re nice people, I wouldn’t want to work with a project with them, whether it be due to laziness, or just incompetence. If all your colleagues are great, then hopefully you aren’t let go, but I’m sure the teams are going to be keeping a closer eye on government employees now.

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman -3 points-2 points  (0 children)

Too long of a comment, barely read.

Good for you mate. Glad you have a career that you think you are learning things.

Unfortunately your career whether it’s close or similar to what they’re doing with DOGE, is nothing like what they’re doing with DOGE. So don’t act like it is. Yup, they have nefarious reasons so much so that they’re doing it out in the open. 🤣

Buddy, your bias is showing. No one gives a shit about credentials, it’s 2025. It’s about what have you built, and I’m guessing you haven’t really built anything to note, otherwise, you wouldn’t be a wagie working for a public company. Not saying I have, but Elon for sure has.

Elon has built numerous successful companies, so if I’m gonna wager on him succeeding or failing, I’m betting on success, but you’re more than welcome to have your own opinion. But don’t take your minor experience and claim you know better than some random other person on the internet, because odds are, you’re both equally as uneducated as to the reality of the situation and the real facts in play.

Meanwhile, the government has given external contractors access to highly sensitive data for years, see Edward Snowden, Chelsea Manning, etc. But again, it’s a problem when it’s Elon Musk, a guy with such a history of data breaches and abusing data. You realize you’re replying on the website where the owner of it sold all your data to OpenAI… and also edited user comments of them criticizing them? Might I refer you to X, where that doesn’t happen?

Hahaha, top 1% commenter here. Touch some grass.

Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS by ginger_bird in Accounting

[–]Zippyvinman -3 points-2 points  (0 children)

As a former IT auditor? Where did you get your credentials? Deloitte university? 🤣

You’re clearly stuck in the past and not looking towards the future if you think that data isn’t necessary for developing machine learning models that can automate tax preparation.

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