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Ben Kaufman

Follow @_benkaufman

29 Dec, 6 tweets, 2 min read

math is hard

Buy 1 sat, sell it for $26K, use that to buy 1 BTC, divided that into 100,000,000 sats. Repeat.

Checkmate maxis.

lol bet these guys are like “why’s everyone talking about pizza?”

What happens in your brain when you try to fight #Bitcoin

$1 = ¢100 = $100

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More from @_benkaufman

Ben Kaufman

@_benkaufman

31 Dec

I've received many questions from people considering to set up a #Bitcoin multisig wallet but confused about the backup process, what should be backed up, and why.

🧵So here's a thread on backing up multisig wallets - what, why, and how.

The main caveat in a multisig wallet is that, while you need only a threshold of devices (ie. 2 of 3, 3 of 5, etc.) to sign a transaction, losing access to even a single device could potentially prevent you from being able to spend the funds - if you don't back up properly!

The reason is that (usually) in order to make a Bitcoin transaction, it is not enough to be able to sign it, but you also need to provide the "terms for spending", that is, the Script (code) that is used to lock the coins.

Read 20 tweets

Ben Kaufman

@_benkaufman

23 Dec

🧵Thread: 10 Rules for Verification on a #Bitcoin Hardware Wallet 👇

Rule #1: DO NOT TRUST THE COMPUTER SCREEN.

The very reason for using a hardware wallet is that your computer IS compromised, trusting it makes using the hardware wallet an expensive security theatre (or 2FA at best).
Always verify on the HWW device screen!

Rule #2: Verify your "receive" addresses BEFORE accepting funds.

A compromised computer can be tricked into displaying addresses that belong to an attacker. The only way to make sure you own the addresses is to display them on the HWW device and verify they match.

Read 21 tweets