Nick Neuman Profile picture
Mar 5, 2023 11 tweets 4 min read Read on X
The @yugalabs TwelveFold auction will likely result in some incredibly valuable inscriptions, and could be an inflection point for ordinals on bitcoin.

While wallet tech for ordinals is super early, we jumped on it this week to define the safest way to store ordinals with Casa👇
The benefit to using Casa to secure high value ordinals is that you have multiple keys protecting your inscriptions. This means if you lose a key, you don't lose your inscription (or your bitcoin!).
Get started by setting up your first vault. A vault is 3 keys that protect one wallet. With Casa, one key is held on your phone, one on a hardware wallet, and one by Casa itself to help you recover funds if you lose a key.

If you already use a hardware wallet, setup is simple.
Next, add a sub-account to your vault dedicated to storing ordinals & inscriptions. This ensures your UTXO's remain separated from your main stash of bitcoin, and you don't accidentally send an ordinal when making other bitcoin transactions.
When you receive an ordinal to Casa, make sure you store one ordinal per address. Casa will give you a new address for each received transaction: don't re-use addresses for multiple received transactions (bonus - this is a good bitcoin privacy practice too!)
Label your ordinal in Casa to make sure you can keep track of your different inscriptions.

Then, if you later want to send your ordinal to another person, you'll select the specific labeled address where it's stored.
Since ordinal support in wallets is so early, it's critical to follow the "1 in, 1 out" rule.

This means keeping one ordinal UTXO stored in a single address within Casa, and when you send it elsewhere, using the "Send Max" feature to send that entire UTXO (and only that one) out
We recommend using a lower fee, so you don't accidentally send an ordinal to a miner. This is an interesting part of ordinal theory that we explain more here: support.keys.casa/hc/en-us/artic…
As ordinals grow, we expect to see tools get better for using them, and some of these difficulties will be handled for you.

In the meantime, it feels a bit like the #reckless days of early Lightning. Fun, but you need to be extra careful! Especially w/ high value inscriptions.
We've written a bunch of guides to help people navigate the ordinals landscape.

What else do you want to know about ordinals?

support.keys.casa/hc/en-us/secti…
If you're not a Casa member and ready to upgrade your security for your ordinals and inscriptions, go here to sign up:

contact.keys.casa/store-your-ord…

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More from @Nneuman

Jul 26
What if there was an easier way to sign #bitcoin transactions? It’s finally here.

Just now at #Bitcoin2024, I announced @CasaHODL members can now use a #YubiKey in their vaults. YubiKeys are easy and secure — just tap to sign. These devices make self-custody possible for all 🧵 Image
2/ Over time, we’ve heard from our members who don’t feel comfortable with hardware wallets.

Some are nervous about using them correctly. Others are afraid if they die or are indisposed, their spouses or relatives won’t know what to do with the devices. YubiKeys solve this.
3/ YubiKeys are small hardware devices most commonly used for multi-factor authentication, and thanks to some recent upgrades, YubiKeys are now fully capable of storing private keys for your bitcoin. And Casa is the first to do it.
Read 8 tweets
Jun 26
Do you truly own bitcoin when you only deal in cash?

I’m going to be doing a series on the differences between spot ETFs and spot bitcoin.

Being an ETF noob, I wanted to learn about the creation/redemption process and how it affects your bitcoin ownership. 🧵
2/ The creation/redemption process is how ETFs come onto the market, and it typically doesn’t involve retail investors much.

Between you and the ETF issuer sit a number of third parties: broker-dealers, market makers, authorized participants (AP), and custodians.
3/ These third parties work together to create and redeem new shares to respond to demand and arbitrage opportunities.

But when you buy and sell an ETF, your transactions are settled in cash. So what happens on the back end?
Read 17 tweets
Apr 21, 2022
It’s important to us at Casa that we help create a welcoming and diverse community within Bitcoin. Our community is building a new money for the world - to do that successfully we need to be representative of the people in the world. 1/
We take action to back up our beliefs, so we’re giving free coworking space at the @bitcoincommons and resource/mentorship time with the Casa team to women and people of color building on Bitcoin. 2/
For context on the Bitcoin Commons, we partnered w/ @UnchainedCapital, @Swan, and other Bitcoiners on a coworking and event space in Austin.

We’re dedicating the Casa portion of the space to this initiative in an effort to help bring more diverse builders into our community 3/
Read 8 tweets
Mar 15, 2022
My latest op-ed in @FortuneMagazine about the importance of financial freedom as a fundamental right, and how Bitcoin enables it.

fortune.com/2022/03/15/how…
For some similar ideas but more focused on what's going on in Russia (whereas the op-ed focuses on Canada), check out this thread:
Financial censorship is a dangerous weapon. Governments using it on their own citizens because they disagree with their views sets a scary precedent - one that can easily be flipped based on who is in power.

The right to be your own bank with Bitcoin is more important than ever.
Read 6 tweets
Mar 3, 2022
Within the last few weeks, we’ve seen the problems with financial censorship and devaluation take center stage in the world, from Russia and Ukraine to Canada.

Nothing has highlighted more the need for Bitcoin as independent money enabling individuals to be their own bank 1/x
Make no mistake: Putin’s invasion of Ukraine is an inexcusable tragedy. It’s crushing to see the loss of life and what Ukrainians are going through.

It’s also critical to look at what’s happening w/ the money. Let’s start w/the Russians, where we see 3 main (bad) developments
1. Massive devaluation of the ruble caused by global sanctions against Russia’s banking system, wiping out people’s savings.

cnbc.com/2022/02/28/rus…
Read 17 tweets
Jul 8, 2021
Over the weekend, a @CasaHODL client survived a “$5 wrench attack” - he was drugged and persuaded to give up access to phone, accounts, and passwords. With the client’s permission, we are sharing the story to help others learn to protect themselves.

🧵👇
Luckily, this was not an attack that caused major physical harm. He was drugged by a date he met on an app, and was unable to function lucidly for an estimated 24 hours. 2/
The attacker persuaded him to give up access to his phone & password manager, which included passwords & 2FA for all of his exchange accounts.

The attacker attempted multiple purchases on exchanges, and was able to steal funds from an exchange account. 3/
Read 12 tweets

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