Self custody is NOT dead.
SHUT UP!
If you believe you’ve been lead astray by being recommended using a cold wallet, you are mistaken.
When entropy is done correctly, cold wallets remain virtually impossible to hack.
Coldcard generated keys that could be cracked in minutes.
Wallets that generate keys using 156 bit to 256 bits of entropy will technically take thousands of years to crack.
And if you believe moving your crypto to an exchange is the solution, it’s not.
How do you think exchanges manage funds? Hmmm. Perhaps using a wallet?
One of the biggest exchanges in the world, Bybit, literally use Ledger wallets as part of their security protocol for users funds.
So, you can either keep your crypto in your own wallet where you maintain control and ownership.
Or you can send it to a company’s wallet where you lose control and ownership, and don’t gain anything in return.
To be clear. I am still pro self custody.
I do NOT recommend storing crypto with centralized platforms.
If you are a Coldcard user and temporarily need to move funds to an exchange, sure. That makes sense.
But the amount of influencers recommending moving your crypto to an exchange, which again, still utilizes wallets, is outright irresponsible.
Yes, what happened to Coldcard was horrible, but it doesn’t define self custody.
And don’t forget more than 1.5 Million of users Bitcoin was lost/frozen across just 7 different exchanges.
Over 1,300+ from Coldcard…
The data speaks for itself.
I’m going live today to talk about all this. I’ll pin the link to the livestream in the comments if you want to join or watch later.
- Scrilla
When I say “Never Sell Your Bitcoin,” I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet. Since 2020, it has disclosed it may buy or sell $BTC to manage capital. Our shared conviction in Bitcoin remains unchanged.
ACTION REQUIRED
If you:
purchased a COLDCARD MK4 or Q
AND
did NOT use DICE during the seed setup process,
You need to take action soon. By not using dice, your seed words were randomly selected by the COLDCARD — and an issue was just discovered where those words were not truely random, allowing an attacker to guess your words easier. It is unclear how much time you have.
To fix this:
1. On your COLDCARD, navigate to Advanced/Tools, Temporary Seeds
2. Create a new 24-word seed using dice rolls
3. Grab a handful of dice and roll them at least 99 times
4. Enter the rolls one by one, reading left to right, and don’t read them aloud.
5. Backup the new seed your COLDCARD creates, and the first Bitcoin address derived from it
6. Head back into your main COLDCARD wallet, and use your normal process to send your Bitcoin to your new seed’s first address.
7. Wipe your COLDCARD then restore with your new dice-created seed
8. Use your new seed going forward knowing it was created using your own dice-rolled true randomness.
Please migrate to a new, dice-secure seed as soon as possible. Don’t rush but don’t wait.
Finally, install the COLDCARD software update that has just been released to fix the original issue, but you must move to a new seed anyway (and you might as well use dice this time!)
Fiat currency is the problem. Companies, institutions, securities, and technologies that strengthen Bitcoin are part of the solution. We can debate ideas without mistaking allies for enemies.
President Trump is right. America cannot afford to surrender the future of finance and technology to China.
The Senate should pass the CLARITY Act and give American innovators the framework they need to make the United States the global leader in digital assets.
Cannabis is less harmful than cigarettes. Tobacco drives massive rates of lung cancer, heart disease, COPD and early death. Cannabis smoking shares some smoke toxins but shows no clear lung cancer link in studies, milder lung function impact overall, and lower addiction risk. Neither is risk-free—smoking anything irritates lungs. Edibles or vaporizers for cannabis cut combustion harms further.