OP, thank you for the kind words. In fact, I think we all must try to discuss productively in this forum. The forum is for us. It's our place! And as such, we should focus on improving it.


I have also spotted occasions like this... It's not very odd though. People (sometimes me included), tend to read the OP and then construct an answer without reading the previously mentioned ones.

This topic is strange.
I don't understand the purpose behind it.
At the same time the language used is very allegorical and it confuses users.
I think that you should focus on writing more constructive posts, because after all, you are wasting your own time.

Me too. It all depends on what you are most afraid of.
If you fear that the backup location is not very safe, then you can add a passphrase.
If you are sure that the location is safe, then there is no need to add a passphrase, since the backup can't be easily compromised in the first place.

Well, to be exact, it is not very difficult to brute-force, but it rather, it is infeasible to brute-force.

This passphrase will never be brute-forced. But, I make 2 assumptions here:
1. There are no uppercase characters.
2. There seem to be some patterns, but I guess they must be copy-pasted to showcase the length of the passphrase.

If the assumptions are true, then:

(a) You have 146 characters.
(b) Your dataset consists of LowerCase, Numbers and Symbols. Thus, your dataset includes 95 (total printable ASCII characters) - 26 (upper case letters) = 69.

Therefore, the complexity in bits is: ln(146^69)/ln(2) = 496.09 bits.

---

BIP85:

• BIP85 is easier to backup. You will only backup 12 words twice and then you will backup the "index number" for each wallet. The latter can be backed-up anywhere. It's just a number (eg. 107, or 9, or 999), so nobody can expect that this has anything to do with Bitcoin. So, you can just backup the words and you can derive all the wallets at indices 107, 9, 999 with the same words and a wallet that supports BIP85.
• It's not as secure as passphrases. The index numbers can go up to 10,000 so brute-forcing the wallets is super easy, if the attacker gains access to the words.

Passphrases:

• Passphrases are better if you want to make sure the the attacker who gains access to the words has no way to access your wallet.
• Passphrases are more difficult to backup. You absolutely need to backup the passphrase twice. Not once. So this leads to the need for more secure places to store your backups.

To conclude, if you are afraid that the seed words can be compromised, then use passphrases, making sure to backup the passphrases in separate locations.
If you think that your words are safe, then simply use BIP85 and use random index numbers from 1 to 10,000. Also add some sats to the wallet on index 0, so that the attacker may think that these are your only funds.

You have just given me homework. It's also writen in Kotlin which is a language that I can read easily. Let's see.

Have you tried it? Or is it too early yet?

Bitcoin will have a higher exchange price.
Bitcoin's generation flow will be much lower because of the halvings in between.
I wish to see solutions for the high fees.
I wish to see higher adoption (actually much higher).
I wish to see new people in this forum, asking, wondering and learning about Bitcoin.

This is in fact the most important problem. It applies to any type of money that someone has put aside. You can have money in the bank. There is no reason at all, in accumulating money (in any format) if you can't use it to cover a sudden need. Money need liquidity.

OP the only solution to your problem is to spend less. If you have any kind of addiction that pushes you to spend, then it's a severe problem and you need to contact someone. If you just spend, stop it.

Hello and good luck to everyone.

@RickDeckard since I am not participating but I find this contest really fun, could I contribute with 160,000 satoshi?

Here is the address as a proof of funds (if necessary).

I am actually gonna send the entire UTXO, but I just say 160,000 sats for rounding purposes.

Now that I am thinking about it a bit more, there is also another risk.
Timelock will indeed not let you spend the UTXOs until a specific date has come, but you are certainly able to spend the UTXOs using coin control. This way, the time locked transaction will become invalid because one of the UTXOs will be spent.

What I mean is, if you are able to create a timelocked transaction you are also able to render it unusable by spending some of the UTXOs that are included in the inputs of the TX.

So time lock will not stop your urge to spend more...

Hi.

So, if I get it correctly, you want to create daily transactions with timelock, so that you can broadcast each one of them on its specific day?

Something like:
Tx1, timelock for March 23rd
Tx2, timelock for March 24th
And so on?

Technically you can do it, but there are 2 issues:
1. Programming time locks for 40 years on a daily basis is very time consuming.
2. You will need too many transactions if you pay yourself daily.

I have made this step 2 years ago. No more social media for me. I love it now, but it was difficult back then. These apps are designed to be addictive.


Perhaps yes. I have quit Twitter since 2022, so I can't say for sure. Saylor had laser eyes yes. Also Jack Mallers. Some other guys from Bitcoin Magazine too. But as I said, perhaps they have removed the laser beams now  


I never said you are an expert, although I think you know a lot about Bitcoin. All I am saying is that you have put effort in order to acquire some knowledge, but the majority of people on twitter haven't put effort at all. They are used to repeating phrases that they find cool.

Good luck man. In my short X life, which lasted approximately 2 days, I was surprised by how much lack of basic knowledge existed there.
And I mean from "bitcoiners" too. Some laser-eyed morons who were used to repeating everything they were told.
To be clear, I don't have any issues with the laser-eyed avatars, I kinda like it too, but I hate it when people pretend they know something, instead of reading or listening in order to get a more solid grasp of how bitcoin works.
I have been studying about Bitcoin for 2 years now, and I am surprised that I still have so much left to learn.
It's a pity that on X there is so much misleading, scamming and fake news, even from the bitcoiners' side.
I hope that people like you will eventually convey the correct message on X and that you will be able to educate as many people as you can.

What for?
I use Wallet of Satoshi for some small payments (say max $50). Is this what you mean?
I don't think that using a reputable custodial solution for LN is bad per se, but we must always be aware that since we don't control the sats, they can be lost. So we must use them wisely with small amounts.

What? Seriously?
You must be either joking or scamming. I don't know what's worse...
By the way, since people will read this post and newbies may be misled, let me make clear that this post shouldn't be taken seriously.

Bitcointalk Account: apogio
My vote goes to: GazetaBitcoin, Mame89, Despairo

Notes:
GazetaBitcoin: Is this piece only for you?
Mame89: Looks incredibly delicious.
Despairo: I love purple!!!

Edit (2024-03-29):
PytagoraZ decided to withdraw their participation. As such, I will change my vote for Despairo.

Out of curiosity, don't you all think that X (Twitter) has a strong potential to become the no. 1 scamming / hacking / faking website?
I mean, I hear this kind of stories all day...
It must mean that they do something really bad there. I realise that people don't use strong passwords and I also realise that 2FA can be spoofed, but still, I don't get it.

Absolutely, definitely, Bitcoin in self custody.

In my opinion, the order goes as follows:

1. Bitcoin in self custody.
2. _{Bitcoin in self custody is always better.} Bitcoin ETFs.
3. _{Bitcoin in self custody is always better.} Shares of individual companies that hold Bitcoin, like MSTR.
4. _{Bitcoin in self custody is always better.} Shares of individual companies that are tied with Bitcoin, or their work is dependent on Bitcoin, like CleanSpark, Argo, Riot etc.
5. _{Bitcoin in self custody is always better.} Bitcoin on a CEX. This is the worst option in my opinion.

I will talk about myself here, yes! I can walk! Is it natural that I have started walking backwards though?

Absolutely, but even better, own the real bitcoin in self custody.
However, it's definitely true that between the above options, an ETF is better than any individual stock.

Microstrategy apart from their business-related tasks and their financial documents, they also need to be highly competitive against the ETFs that exists.
Don't forget that Microstrategy is a company.
They have their shares open on the market, where anyone can be part of the company.
They have decided to follow a Bitcoin-oriented path, which to me seems great. So many people will buy Microstrategy simply because they own Bitcoin and that's a normal thing to happen.
Having said that, they must make people want to own shares of the company, rather than buying ETFs. This is a very difficult task.