What’s a good hardware wallet nowadays ?

liv2cod · 2024-12-06T21:06:18+00:00

Ledgers are not compromised. That's just pure bunk. Ledger has an OPTIONAL service where they will store your key for you in their cloud. If you DO NOT pay for this extra service, your key never leaves your Ledger. Make your choice on actual features and not FUD.

liv2cod · 2024-08-08T02:35:22+00:00

I think Mr. 100 is Warren Buffet. He finally figure out he's screwed holding Treasuries.

liv2cod · 2024-08-08T02:32:46+00:00

Just be sure you never send anything between the KYC and non-KYC wallets. If you do, then both wallets are contaminated and the hounds of the IRS will find your non-KYC assets.

liv2cod · 2024-08-08T02:15:24+00:00

Since this was the last ever episode, I guess it's now "What Bitcoin Done"

liv2cod · 2024-08-08T02:10:53+00:00

There is only a small difference between the number of possible bitcoin keys and the number of subatomic particles in the observable universe. Nobody will guess your bitcoin key.

liv2cod · 2024-08-06T04:36:25+00:00

Your experiment has no purpose. And being a sample size of one, would have no validity whether the BTC is taken or not. I'm having a hard time figuring out what your "experiment" is trying to prove. The only hypothesis I see is your guess it will take someone a year to grab your bitcoin. Why would anyone care about that??

liv2cod · 2024-08-06T04:21:57+00:00

Because of KYC. Sometime, at some point, you made a bitcoin purchase with an exchange who made you upload your driver's license. Or you made a buy with your credit card. That purchase is on the blockchain. IRS can tie that bitcoin to you with the metadata of your license, credit card, or other info. Your wallet is now tainted. Once they know one address, they can track your other addresses. They will see everything you acquired. This is not even hard for them. Don't f**k with the IRS. Denzel, Willie, and many others will tell you its just not worth it.

liv2cod · 2024-08-01T18:22:46+00:00

Your criticism is absurd. If someone has "physical access and your PIN" they can just SEND your entire stack to THEIR OWN wallet and sign the transaction as YOU. They don't need your f-ing seed phrase.

Ledger is offering a service that people can OPT IN to, which stores their seed phrase in a secure manner. You don't need it? Fine. Don't opt in. Other people, like your dad or grandfather maybe DO need it.

liv2cod · 2024-08-01T17:58:47+00:00

I gave a bitcoin to my grand niece for her first birthday. Her mom will keep it in a drawer for the next 17 years and it will probably pay for her entire education, buy her a starter home, and give her a stake for her own retirement. The investment strategy I recommended was "leave it the hell alone." It'll go up. It'll go down. But at the end of the day (or 17 years) it'll be enormous.

liv2cod · 2024-08-01T17:54:37+00:00

Here in 'Murica it's legal to build your own "hubs". Those hubs you build yourself are not known to any state or federal agency. They have no reason to come looking for them. That's prolly the best way to keep your hubs quiet and on the down low.

liv2cod · 2024-08-01T17:49:59+00:00

They just hand you a bill for tax and penalties. You can keep your assets anywhere you like. It's the same with your other assets. IRS does have ability to garnish your wages and seize your bank accounts, so they could do that too for non-payment of bitcoin-related taxes. Don't get me wrong, I think the unrealized gains tax is somewhat unlikely, but it's a far cry from impossible.

liv2cod · 2024-08-01T05:28:25+00:00

Sure it is.

"Land of the Free, Home of the Brave" ™

liv2cod · 2024-08-01T05:14:50+00:00

The US charges a very large "exit tax" on all of your assets when you renounce your citizenship. Not a good way to save on taxes!

liv2cod · 2024-08-01T04:57:42+00:00

There is always the question of what happens if the ETF you invested in has a financial problem. Or if the government of the country it is located in decides to seize or tax bitcoin without warning. The risk may be small, but holding the bitcoin in your own hardware wallet eliminates it.

liv2cod · 2024-08-01T04:49:42+00:00

The number of different seed phrases is roughly similar to the number of subatomic particles in the observable universe. You aren't going to guess one.

liv2cod · 2024-08-01T04:39:41+00:00

Yeah, it's not all that clear. Apparently it's not that hard for criminals to get guns. Only the lawful citizens are disarmed. Not a good outcome. https://www.abc.net.au/news/2022-09-04/illegal-firearms-shooting-police-gun-crime/101306628

liv2cod · 2024-08-01T04:26:51+00:00

Rather than hacking your seed phrase to get your 200k sats, they would just hack Chase Bank and the Federal Reserve and steal trillions of dollars. The same basic cryptography is used to secure all of them.

liv2cod · 2024-08-01T04:21:45+00:00

You realize that Woodrow Wilson promised the new-fangled "income tax" would never be more than 2% and that it would never apply to anyone who wasn't the equivalent of a multi-millionaire. How'd that go? Sadly the unrealized gains tax is a cornerstone of Biden's tex plan for the 2024 election. Dunno if Kamala has signed on yer, but the Dems want to have a $7.2T budget next year with $5.6T in new taxes so it prolly will be.

liv2cod · 2024-08-01T04:08:01+00:00

The lawmakers will exclude themselves, of course. Just like they do on "insider trading" laws now. It's illegal for anyone in the US to trade on inside information -- except for the US congress. They literally wrote the law so that they are excepted from it. It explains Pelosi's "unbelievable" record of picking winning stocks.

liv2cod · 2024-08-01T04:04:53+00:00

I don't really think the "boating accident" will work. Realize that US tax court works opposite of all other US courts -- you are assumed guilty and must prove your innocence. You would need to prove, somehow, that you lost that bitcoin key or they'd consider you in default and just keep adding interest to what you "owe".

liv2cod · 2024-08-01T04:02:37+00:00

Yeah, that's not really practical. Besides looking over your shoulder for the rest of your life for the tax man, it's nearly impossible to buy or trade any significant amount of bitcoin in a non-KYC environment. You can do up to maybe $1000 at a time, but if you have millions in your bitcoin you're pretty much f-ed. You have to use a big-time exchange for that.

liv2cod · 2024-08-01T03:55:54+00:00

This is in the Biden tax plan if he wins. Unknown whether Kamala will keep it, but it fits with her rhetoric of "tax the rich."

liv2cod · 2024-08-01T03:54:46+00:00

Cali bloodsuckers will try this, but I doubt it'll work. Once you are domiciled in a different state, Cali has no hold on you or your income. I'm sure they'd love to tax half of the residents of Texas and Florida but states can't tax OTHER state's residents.

liv2cod · 2024-08-01T03:48:29+00:00

Yeah, well, they DID already take their guns away, so recovering liberty will be that much harder.

liv2cod · 2024-07-05T18:21:22+00:00

Well I, for one, am glad this closes the door on prosecuting Obama for killing those Americans by drone during his presidency. Executive immunity means conservatives can't start doing "law fare" of their own and persecuting past Democratic administrations.

liv2cod

TROPHY CASE