RickyDurds

Always learning 🟠 nostr pubkey npub1tv7qdcnmtgrprp99khrg3a2khtafqvrk7lua80kerljfswzvg2zszan3sw

[RickyDurds @Ricky_Durds]

@MartyBent @ODELLXYZ Any chance of a RHR this week? Really miss the banter and signal regardless of the stuff that has been going down.

[James E. Thorne @DrJStrategy]

Contentious thesis.

My contentious thesis is that Bitcoin will eventually be valued like gold. It has perfect scarcity, decentralisation and transparent settlement: the neutral bearer asset for a digital financial system.

Bitcoin still trades at a market capitalisation significantly below Nvidia’s.

Blockchain is the biggest record-keeping innovation since the Medici-era invention of double-entry bookkeeping. Wall Street has done no objective research, even as money and capital-market infrastructure migrates onto blockchain rails.

Sec Bessent is moving forward with Genius Act.

IMHO US will be the capital of innovation in the digital asset world.

Team Warren may have won the battle but will eventually lose the war.

We are so early in this theme.

Have a great day.

[RickyDurds @Ricky_Durds]

@TXMCtrades They think we are retards.

[RickyDurds @Ricky_Durds]

@BitPaine Odell just wants people to buy bitcoin man. I get you feel the shots coming but his message for stacking sats has always been clear.

[RickyDurds @Ricky_Durds]

@hodlonaut Stop

[RickyDurds @Ricky_Durds]

@markgoodw_in Are you referring to CC or something else man??

[RickyDurds @Ricky_Durds]

@ODELLXYZ been thinking about this since all the CC stuff went down man. I know seeds are great for self sovereignty but Bitkey has gotta be a decent option for users to migrate too.

[RickyDurds @Ricky_Durds]

@ODELLXYZ @mcchiperson77 You and @MartyBent are needed regardless of what happened. Get on RHR you got this.

[RickyDurds @Ricky_Durds]

@IIICapital @BitcoinPierre 🤦🏻‍♂️

[Brad Mills 🔑⚡️ @bradmillscan]

If you're a bitcoin maximalist who's been recommending coldcard to people for YEARS ... you should search through your text messages for the word coldcard and contact everyone who you previously recommended a coldcard device to.

Time is running out.

[RickyDurds @Ricky_Durds]

@callebtc Wait what

[RickyDurds @Ricky_Durds]

@JoeCarlasare Joe. Do something for people besides just being a pole smoker. You helping anyone get out?

[RickyDurds @Ricky_Durds]

Is @Excellion really so important that he doesn’t allow normies to comment. Kinda wild.

[RickyDurds @Ricky_Durds]

@americanhodl8 Bro. Really glad they didn’t listen to me and I told them to get a ledger or Bitkey even with their “drawbacks”. Man.

[RickyDurds @Ricky_Durds]

@OpenSats @phil_geiger Damn

[RickyDurds @Ricky_Durds]

@BitPaine Ive already got sats spread out but man this makes me want to cut it even further down between manufacturers.

[RickyDurds @Ricky_Durds]

@BitPaine Paine I get it. I almost pulled up blue wallet at work and put in the seed to get the heck off. I got lucky and was able to do it when i got home but this really blows for people that lost years of their hard work. Im struggling with how to move forward at the moment.

[RickyDurds @Ricky_Durds]

So is Bitkey now the way to go? 😥

[Udi Wertheimer @udiWertheimer]

bitcoin wallets that cannot be hacked

in 2016 malte moser, @ittayeyal and @el33th4xor published “bitcoin vaults” and “bitcoin covenants”, describing how a simple, harmless upgrade to bitcoin script could help build hack-resistant wallets

the secret is simple: instead of attempting to build a perfect self-custody system, accept that humans are imperfect and WILL make mistakes. therefore mistakes must be recoverable

moser-eyal-sirer “vaults” add a delay to transactions. imagine if your hardware wallet had a 24 hour delay whenever sending transactions. during that delay, if you notice something is fishy (you’re getting hacked!) you hit a special button and your funds are directed to your coinbase deposit address instead, for example

that’s it! you only rely on coinbase (again, just an example) if your main wallet got hacked. if you’re not hacked, you use your wallet normally and coinbase cannot control it. you simply have to wait 24 hours when sending. for long-term storage this is usually fine

in crypto (non-bitcoin), institutional grade solutions like Safe on EVM and Squads on solana protect over $100B in assets in constructs that are similar to the 2016 vault proposal. many/most major companies in those ecosystems use those solutions and they are considered an obvious best-practice over there

but in bitcoin, this can’t be implemented without simple upgrades like OP_CTV, OP_VAULT, OP_CAT, or others

over the years, in addition to moser, eyal and sirer, many experts like @jamesob, @JeremyRubin, @kanzure, @EliBenSasson — and even retards like yours truly — have attempted to promote any of those proposals to enable this kind of safer custody. it still hasn’t been done, imo mostly due to political and puritanical reasons (various versions of “i don’t like the people who proposed this”)

but the truth is that if this feature was in bitcoin, many coldcard users would’ve been directed to use it, and would’ve been safe today. vaults and covenants don’t require wallets and humans to be perfect. they assume that they aren’t.

people who don’t want to use vaults and covenants don’t have to. but people who want to use them should be allowed to. it’s time to give bitcoiners covenants.

[RickyDurds @Ricky_Durds]

@jamesob Thanks for getting this out quickly.