I’ve received many questions about full nodes. What is a full node, what it does, and what’s so important about it? So here’s a thread for anyone wondering why they should run their own #Bitcoin full node? 🧵👇 1/ Let's start with what is a full node? In simple terms, it's not very different from a database, mapping bitcoins to their owners. Every #Bitcoin transaction updates the current state of the database, deleting the old owners and assigning the new ones.

1/ When using #Bitcoin, there are generally 3 components involved:

- Private keys

- Signing device

- Wallet software

The differences between these can be confusing, but knowing them is important in order to understand the best practices in self-custody (🧵thread). 2/ Your private keys, often represented as a list of 24 words, are the secret information you need to prove that you know in order to sign transactions.

Anyone holding your private keys can spend your coins, which is why you must handle them as securely as possible.

I've received many questions lately, but by far the most common question is “What's the best way to secure #Bittcoin?”

🧵So here’s a thread with my opinion on securing #Bitcoin The first thing to understand is that there’s no "best way", but always a tradeoff.

You can always find ways to make it harder for someone to get your #Bitcoin, but if you over-complicate it, you could end up making it even too hard for yourself - many lost their funds this way.

Secure your #Bitcoin like it’s worth 10x more than today. Need help? Reach out! DMs open

“Early in life I have noticed that no event is ever correctly reported in a newspaper, but in Spain, for the first time, I saw newspaper reports which did not bear any relation to the facts, not even the relationship which is implied in an ordinary lie. I saw great battles reported where there had been no fighting, and complete silence where hundreds of men had been killed. I saw troops who had fought bravely denounced as cowards and traitors, and others who had never seen a shot fired hailed as heroes of imaginary victories; and

👻Specter v1.0.0 is out!!!

Highlights (1/3)

- Massive refactoring of the history and UTXO tabs!
- Export transactions, UTXO, and addresses to CSV
- Address labeling from anywhere
- New Tor configurations page
- New testing framework
github.com/cryptoadvance/… Highlights (2/3)

- Search, sort, and more in the transactions and UTXO tables
- Export historical prices of transactions to CSV
- Support all Tor features by having the Tor Browser open
- Tor-only option for any external requests
- Add UTXO tab to wallets overview

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!

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.

🧵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!

🧵Guide for @COLDCARDwallet + @SpecterWallet

Setting up Coldcard with Specter Desktop in 10 steps (or less) 1/ Click "Add new device" button on the left sidebar