A lot of people's confidence has been shaken this week and that's completely understandable
But don't make the mistake of turning your back on self-custody
Trusted third parties are responsible for the vast majority of lost #Bitcoin
They are not a viable long term solution for storing your wealth
A patient in Manila pays a US physician for a telemedicine consult over Lightning. Settlement finishes before the call ends — no correspondent bank, no multi-day wire, no currency-conversion cut for a middleman.
The Coldcard vulnerability has taught us many lessons
But perhaps the most important is that you should never rely on a single piece of hardware to secure your Bitcoin
That's why we ALWAYS set our clients up with strong passphrases to remove any single point of failure
Join me AND @PaulaBTCEdge as we discuss the latest news in Bitcoin and how the Bitcoin protocol helps to diminish broken incentives. She was my first guest and I would love to have her back on the show for a future episode. Thanks again, Paula!
https://t.co/wzBuXujIa6
This is one of the more interesting reveals of the ColdCard saga. Pretty much every Bitcoin maximalist in Korea were not affected because they all used dice rolls.
How can this be? The culture of the Korean Bitcoin community is very much about doing things the right way. To give you an idea, I've visited many times, seen the same people many times and I still don't know most of their names because they almost all use pseudonyms, which is considered a best practice in that community.
I think there's something to learn here because the US Bitcoin Maximalist community was a little too trusting and not enough cypherpunk. Be like the Koreans, do things the right way, all the way.
Lots of people moving Bitcoin.
BE CAREFUL!
I just did a call with someone and they were moving to a Jade, and they downloaded a fake Jade app on their computer. Luckily they thought something was off, called me, I confirmed that it wasn't the official one, and we did it properly