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Bitcoin LightningNetwork+ Profile picture
@BTC_LN
Nov 13, 2022 • 8 tweets • 6 min read • Read on X
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🚨 PSA: If you're not already doing so, please learn how to do self custody. For little #bitcoin, you can use a mobile wallet, but for larger amounts it's best to use a #hardwarewallet that will give you both security & comfort. Like for your favorite among these top 5 devices:
1. @Ledger has multiple types of devices that look like USB sticks at different price ranges. The cheapest will do the job: ledger.com
2. @Trezor is another well established company with two different products. Again, the cheaper version will do the job: trezor.io
3. @Blockstream's Jade wallet is relatively new, but great device at a low price: blockstream.com/jade/
4. @COLDCARDwallet looks like a calculator and it is proudly a #bitcoin only wallet: coldcard.com
5. At last we have: @ShiftCryptoHQ's Bitbox wallet, a swiss made device: shiftcrypto.ch
Bonus recommended by readers: @FOUNDATIONdvcs's Passport wallet is a new device that features a high end design and finish for a relatively high price: foundationdevices.com
Another bonus: @SeedSigner Do It Yourself air gapped #bitcoin wallet: seedsigner.com

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More from @BTC_LN

Bitcoin LightningNetwork+ Profile picture
Mar 16, 2023
What is #bitcoin #lightning "Splicing"?
Splicing is transferring funds from on-chain outputs into a payment channel or from a payment channel to independent on-chain outputs without the channel participants having to wait a confirmation to spend the channel’s other funds.
🧵 1/5
In practice, that means with splicing you can add or remove bitcoin from your #LightningNetwork payment channel without the need to close the channel and create a new one entirely. It is making for a more dynamic LN experience.
Splicing comes in 2 varieties:
🧵 2/5
1. "Splice In" means adding funds to a channel. In this case, a cooperative close of the channel is arranged between the involved parties that spends the old channel funds to a new channel along with the new deposit.
🧵 3/5
Read 5 tweets
Bitcoin LightningNetwork+ Profile picture
Mar 14, 2023
#Bitcoin was created as an alternative financial system in response to the shortcomings of traditional banking and currency systems, as evidenced by the reference to the 2008 financial crisis in its genesis block.

Bitcoin can help in several ways:
🧵 1/7
Decentralization: Bitcoin operates on a decentralized network. This provides a safe haven for people concerned about the stability of their local currencies & solvency of their banks, as their assets are not dependent on the actions of any single government or institution.
🧵 2/7
Inflation hedge: Bitcoin's capped supply of 21m coins makes it a deflationary asset. As a result, it is a hedge against inflation, which often accompanies currency crises. By investing in Bitcoin, individuals can protect their wealth from the eroding effects of inflation.
🧵 3/7
Read 7 tweets
Bitcoin LightningNetwork+ Profile picture
Nov 14, 2022
Top 3 reasons why people don’t take custody of their #bitcoin:

1. I don’t understand the tech.

I promise you it’s not that hard. If you can memorize a nursery rhyme and learn how to use a dumb phone you can do this too.

Wallets come with instructions:
2. What about inheritance?

If your beneficiary is old enough, educate them about the storage setup you use. If not, leave instructions with a trusted third party. Taking ownership of bitcoin inheritance is more straightforward than anything else. Books for education:
3. What if I need to sell it urgently?

If there is a crisis situation, the last place you want your coins to be is on an exchange because that’s when they will most likely abuse your trust and both bitcoin and fiat withdrawals will be limited.

What other reasons you heard?
Read 4 tweets
Bitcoin LightningNetwork+ Profile picture
Mar 11, 2022
🌏 How will #bitcoin become the world reserve currency?
Bitcoiners always expected bitcoin to eventually become the world's new reserve currency in some way or another. Recent world events gave us an insight into how it will actually happen. 🧵 Image
Step 1: The speed and scale of monetary sanctions implemented against Russia made it clear that central banks and large companies like SWIFT, VISA, etc. bend to the will of NATO. Reserve assets and payment channels are not a certainty. Only full self custody is guaranteed.
Step 2: Russia, China and some other nations will not watch this idle. They will push ahead establishing a parallel financial system. China's population and economic output will challenge the US and soon the entire NATO. The new APAC financial system will be equally massive.
Read 16 tweets

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