#Bitcoin guides/essays (free)| Self-custody mentorship |
Creator - Parmanode Bitcoin Node Software (https://t.co/bDMpSz5r9a) |
YTube education - Arman the Par
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Mar 10 • 9 tweets • 2 min read
When Satoshi solved the problem of digital money that "requires no 3rd party", he was talking about getting rid of the CENTRAL BANKS that keep a ledger to avoid double spending, not retail banking and self custody...
A central bank which prevents digital double spending and allows payments across space without the need of a physical p2p item is a problem, not because it holds our wealth like a retail bank does, but because we have to TRUST it as it has power over the entire money supply...
Dec 26, 2023 • 38 tweets • 6 min read
Nerdy #Bitcoin stuff about hardened/non-hardened keys, and derivation paths. Learn this.
I promise it's interesting, but you will need coffee, and not screaming children around...
HD wallets (BIP32) were defined to allow one private key to make many key pairs. Basically, you can take a secret number, turn it into a master private key, and from there create "children", which are numbered (0 to 4.3 billion, or whatever unsigned integer 4 bytes can hold)...
Oct 8, 2023 • 8 tweets • 3 min read
How to run a #Bitcoin node on a Mac:
1. Get a Mac with 1Tb internal/external drive 2. Open terminal 3. Copy and paste this:
curl | sh
4. Double-click the new desktop icon, run_parmanode to run.
All standard hardware wallets semi-permanently store a seed phrase.
Generally, they hold as many wallets as you want, all from that seed phrase, but, importantly... One session at a time.
For example...
If you turn it on, and put in your PIN, the wallet calculates the xprv-->xpub (your wallet), from the seed words in its semi-permanent memory, each time.
Jul 11, 2023 • 16 tweets • 3 min read
#Bitcoin Address Tips #19
About change addresses:
First I want to point out that many software wallets show you 1 address at a time. This is aiming to keep the experience simple, but it's bad because it misleads the user on how Bitcoin works.
Electrum, Sparrow, and Specter...
... are better than, say, Ledger Live, for many reasons, but regarding addresses, they show you a list of 20 or so receiving addresses and 10 or so change addresses.
What are they?
Well, your extended private/public key created billions of addresses, did you know?
A UTXO ("received coin") you hold requires two basic properties to be KYC-free:
1. The coin must not be identified as belonging to you by an outside source at no point in its history (unless sufficiently mixed)...
2. The address it occupies, and the addresses it previously occupied, must not have ever been exposed to a public node (potentially a surveillance node).
A surveillance node will receive your xPub (info to derive all 8.6 billion of your addresses), and your IP address...
Jun 7, 2023 • 4 tweets • 2 min read
I had a #Bitcoin student today, very nice guy, but needed to be told about left-click and right-clicking a mouse...
In two hours, his laptop was wiped of windows, Linux mint installed, Parmanode, Bitcoin syncing. And Ledger HWW connected to Sparrow, connected to his own node.
Yes, he'll always need some help, but he's got me.
Did you know, if you have a 2 of 3 multisig wallet, then the prv keys (seeds) are 2 of 3, but the public keys are 3 of 3?
It's conceptually hard to understand this and it's significance. Even if u think you do, you might not, and that's a risk...
To elaborate
Imagine you have cold storage only. Then you lose one seed. How do you recreate the multisig wallet?
You open Electrum, choose msig, and add seed 1 (includes pubkey1). Then seed 2. Now what? The wallet isn't finished and seed 3 is lost. You need pubkey 3.
Jun 6, 2023 • 7 tweets • 2 min read
Taking self-custody of #bitcoin is the ONLY thing that can break price suppression (from futures manipulation and fractional reserves).
It's not possible for gold to break price suppression because it needs to be with 3rd parties for trade to take place effectively...
... even if people take self custody of gold, to spend it on anything of significant value, it's going to go back to custodians for trade to take place. No one is going to walk into, let's say, a car dealership, and hand 1kg of gold to the salesman.
It's dangerous for a start,
Jun 5, 2023 • 4 tweets • 1 min read
Parmanode now includes Electrum Desktop Wallet. It downloads, pgp verifies, installs, AAAAND connects to your own Fulcrum (Electrum) server with no manual configuration required by the user. #Bitcoin ing for desktop computers is now easy AF (Mac and Linux)...
parmanode.com
Jun 4, 2023 • 7 tweets • 2 min read
Life tip #91
When your nose is running and blocked, and you can't sleep, do this...
Lay on your left side, and rotate you head so your nose points to the ceiling.
Why? This keeps the heart and baroreceptors in the neck (blood pressure monitors) as low down as possible, and
elevates the nose above the heart as much as possible.
When lying flat, blood does not need to be pushed vertically against gravity to get to the brain. If ur nose is 15cm above the baroreceptors of the neck then the pressure there is 15cm H2O lower. Lower arterial pressure will
Jun 4, 2023 • 4 tweets • 1 min read
Cook up a steak real quick to pack for daughter's lunch tomorrow, because love.
If I suggested to u to factory reset your hardware wallet, and restore ur seed (the one with most of your bitcoin), would u be nervous?
If so, u probably haven't tested restoring before first loading ur wallet
It's crucial, psychologically...
If you can't feel comfortable, then psychologically speaking at least, you don't have a backup. And practically speaking, there's a chance your backup is invalid. You must test it.
If it's "too late", you've already loaded your wallet, then what you can do is...
Mar 27, 2023 • 5 tweets • 1 min read
I have a theory about gold bugs that hate #bitcoin.
Most don't understand money at all.
They understand *gold*, and equate that to money.
But money is a bigger concept than gold, and they don't see it. Brainwashed.
We've never had anything better than gold, so it's understandable to take a shortcut and just summarise your understanding of money as, "gold"...
Mar 25, 2022 • 4 tweets • 1 min read
Quick #Bitcoin security tip...
When you add your OWN ENTROPY to a seed produced by a hardware wallet, eg the dice-roll function, or passphrase, YOUR STILL TRUSTING that the device is using the seed it tells you its using. (Makes the dice roll seem silly, right?)
How to check?
This might be overkill depending on the size of your stack, but one simple thing to do to reduce your risk is to enter your "modified" seed (ie use a passphrase) into a second HWW with a different brand, and make sure you generate an identical wallet (identical addresses). 👍
Jan 22, 2022 • 13 tweets • 2 min read
A thread on why #Bitcoin multisignature provides benefits at 3 different "moments" which simple seed-splitting or Shamir Secret Share DOES NOT provide.
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