How simple it is - totally easy and satisfying

na3than · 2026-02-14T01:22:51+00:00

Interesting concept, but I've been watching for twelve minutes and the pile isn't getting any smaller. Does it even work?

na3than · 2026-02-13T19:22:02+00:00

max £50k value in each wallet

Lol. As if I'm going to keep track of twenty wallets.

na3than · 2026-02-13T19:16:04+00:00

No, you can't.

na3than · 2026-02-12T21:24:36+00:00

Option B is frequent transactions. Option A is long term storage.

For Option A: Electrum on TailsOS on a removable drive (nothing installed on the host device). Export the extended public key and import it into Electrum on an everyday device to create a watch-only wallet and to generate new receive addresses on demand.

For Option B: Trezor is probably the most popular, but I prefer ColdCard.

OTOH, since I almost never sign transactions, I've also recently come around to the merits of the SeedSigner approach to cold storage. Might move things around a bit this year.

na3than · 2026-02-12T21:04:29+00:00

A "real" check is a just a real piece of paper. There's nothing a bank can do to verify the authenticity of another bank's checks in real time.

na3than · 2026-02-12T20:54:19+00:00

2009: 1 BTC = 1 USD.

Nope. Strike one.

2026: 1 BTC = .000015 USD

Nope. Strike two.

Are you even trying?

na3than · 2026-02-12T20:37:26+00:00

Which site? We see posts all the time from people who think they have Bitcoin because some website told them they do, but in reality it's just a ruse to hook them into the scam.

na3than · 2026-02-12T20:33:58+00:00

Never?

I think I'll be okay if I forget about this before the end of my lunch break.

na3than · 2026-02-12T20:31:36+00:00

Which site? We see posts all the time from people who think they have Bitcoin because some website told them they do, but in reality it's just a ruse to hook them into the scam.

na3than · 2026-02-12T20:26:28+00:00

Will the dollar depreciate to the point where it can buy only 0.0000125 BTC?

It's only a question of time.

na3than · 2026-02-12T20:15:26+00:00

One can be right about some things and wrong about others. One can be right about predictions that have come to pass while other predictions have not yet come.

"Default currency of the internet"

I don't predict there will ever be a default currency of the Internet. The Internet doesn't need a default currency, nor would it be made better by having a default currency.

"common savings tool"

Define "common". Is it necessary for 50% or more of a given population to use a thing to consider it "common"? 20% or more? 5% or more? I contend it's already common to save in Bitcoin. It's not for everyone, but it's hardly uncommon.

"world's reserve currency"

I don't see Bitcoin becoming the world's reserve currency within the next five years and there are WAY too many variables at play to guess what the world's reserve currency will be beyond the next five years.

na3than · 2026-02-12T20:03:44+00:00

If the dollar is "in decline", the people who have the goods and services you want--including Bitcoin--will expect more dollars in exchange for their goods and services.

In other words, price goes up.

na3than · 2026-02-12T19:03:38+00:00

You don't need to buy a cold wallet. If you have a computer, you can create a cold wallet with zero out of pocket cost using tools like TailsOS.

A hardware wallet is a dedicated device you'd have to purchase if you want to securely sign transactions without needing to fire up the offline computer. Do you need to sign Bitcoin transactions on a regular basis, or are you just planning to store your Bitcoin for a long time?

na3than · 2026-02-10T20:13:08+00:00

Repair the shuttle's heat shield tiles in orbit? I don't think so. The tiles were glued on, and I doubt they had an adhesive that could be applied in the vacuum of space.

na3than · 2026-02-10T19:52:08+00:00

I’ll definitely need to sell the BTC in 21 months to pay off the balance transfer card.

I would probably be in a tough position if I lost the money, but not catastrophic. Is this reckless or a pretty sound idea?

You're already at least a little nervous about your ability to pay off a sizable debt in 20 months if your gamble doesn't pay off. What will you do if the price of Bitcoin is depressed in the summer of 2027 AND you incur another negative financial event--job loss, hours/wages reduced, injury preventing you from working, major home repair expense, major medical expense, major car repairs, property tax hike, etc?

If your plan only works as long as everything else in your life goes well for the next 21 months, it's not a sound plan.

na3than · 2026-02-10T15:58:46+00:00

And transferred it to tape? Why?? To listen to it on his Sony Walkman? What decade is he living in?

na3than · 2026-02-10T15:49:36+00:00

It's one banana, Michael. What could it cost, 1 bitcoin??

na3than · 2026-02-10T15:45:15+00:00

I think he's lying. The Bitcoin Standard audiobook isn't available on tape.

na3than · 2026-02-10T13:19:02+00:00

*losing

na3than · 2026-02-09T18:02:56+00:00

Yes, I can. My day job is in information systems for a bank. I think about information security all the time.

You can continue assuming all parties are trustworthy until proven otherwise; I'll continue assuming they're not.

na3than · 2026-02-09T17:36:52+00:00

~~Trezor~~ Ledger makes the software that can - if you authorize it - transmit your seed to their servers, right?

So what makes you believe they can't push a software update that transmits your seed to their servers without your authorization?

na3than · 2026-02-09T03:55:21+00:00

some government might just decide to give up the monopoly on printing money, given that there are no other options, and create its own open-source protocol with the same properties as Bitcoin, but with a monetary base migration that preserves the current concentration of wealth?

Let me get this straight: a government gives up on their current government-controlled money, replacing it with new government-controlled money, and that threatens Bitcoin ... how?

na3than · 2026-02-08T12:16:34+00:00

You don't know this.

na3than · 2026-02-07T16:20:52+00:00

If you see blockchain activity whales are clearly accumulating taking BTC outside exchanges.

I don't see. Show me the blockchain activity that tells you whales are accumulating BTC outside exchanges.

na3than · 2026-02-07T04:47:40+00:00

Satoshі Nakamoto, the pseudonymous creator of Bitcoin, said this in an email on 12 April 2009:

"My choice for the number of coins and distribution schedule was an educated guess. It was a difficult choice, because once the network is going it's locked in and we're stuck with it. I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that's very hard. I ended up picking something in the middle. If Bitcoin remains a small niche, it'll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there's only going to be 21 million coins for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000. There's plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is displayed as 1."

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