The problem with fiat all started when government and banks became too greedy and went on printing too much fiat, causing it to have less worth due to excess supply. Money is meant to be scares as if there's supplus, it becomes a problem for the economy of a country. How? A single man can decide to keep so much of their fiat locked up somewhere and try manipulating the whole economic system. Every common man from his child hood to becoming an adult had a single currency and some countries tries to teach them the history of their fiat in basic school. Still they can't fully understand the mystery behind fiat system and why it continues being a bit complicated. Bitcoin is new but still we can't compare it to fiat. The idea about decentralization has made Bitcoin stand out from all other currencies out there as no one, not even the government can control the system making it have less complications from confused leaders who try to manipulate the market system thereby causing fiat to drift alongside them.

I'm not sure if this scheme is actually great. It looks overly convoluted to me and frankly I don't know why it's that much layered, to be honest. @satscraper could you explain what kind of attack vectors you try to remedy or your reasoning with such a multi-layered approach?

Then indeed more points of potential failure are introduced, at first glance. The hardware keys would need copies otherwise you're pretty much screwed if you've only one and this sole one gets damaged, stolen or lost. (OK, after actually reading SEED storage on digital media., you use three hardware keys from Yubico, so it seems there's redundancy.)

I hope you've a hell of a good instruction manual for those who are supposed to inherit your stuff should something bad happen to you. And don't forget, you know your scheme well enough now, you constructed it. Years later and without much use, this could change as human memory is a fragile and changing thing. For those not involved in your scheme, instructions would need to be much more elaborate.

Don't get me wrong, I'm not per se against digital storage but I'd like to understand why such paths are walked and to what problems it's aimed to be a valid solution. People need to understand why handling such precious data like mnemonic recovery words and/or mnemonic passphrase on digital devices is potentially dangerous and how to do it safely.

And don't do fancy and complicated procedures just for the sake of it and because you can. There should to be a clear purpose and need for every layer of protection!

Bitcoin is very young, its market cap is still very small, and daily trading volume is low at only 30-40 billion dollars. Most people don't understand what Bitcoin is, which affects its volatility. Due to this lack of understanding, we experience panic selling, but this is changing over time. Volatility is decreasing and will continue to decrease as time goes on. When it reaches a larger market cap, Bitcoin will likely move in correlation with gold.

That's what I'm waiting for. Because with Bitcoin dropping 10-20%, it means I have the opportunity to buy bitcoin at a cheaper price and I can save more money than I would have spent otherwise.

Many people don't understand what Bitcoin is and what altcoins are. Altcoins are like tech companies with their own founders and CEOs. Bitcoin is a decentralized monetary network, the apex predator. Bitcoin doesn't compete with any altcoin, most of which are scams, but rather with gold and real estate

Don't take seriously what you read on Cointelegraph. Cointelegraph is a propaganda service for promoting scam shitcoins. They are scammers.

Activity on the Bitcoin network is at an all-time high, the mempool is full, all blocks are full, and there are 250,000 transactions pending.

Check it yourself

https://mempool.space/

Activity on the Bitcoin Lightning Network is also close to the all-time high from 2021. In the Lightning Network, 5,200 bitcoins worth over 300 million dollars are locked.

https://mempool.space/lightning


ETH is highly centralized and very risky. You have to trust a group of people led by Vitalik Buterin not to rug pull you and leave you with nothing.


ETH, besides being highly centralized and, in my opinion, a scam, has very high inflation, and you never know when the team in control will change the supply policy and print more ETH for themselves. Be very careful and don't put significant funds into ETH because you never know when they might rug pull.

That's why I only trust Bitcoin and don't use altcoins

Of course not. Trezor, like any other hardware wallet manufacturer, makes money by selling its products. If their customers don't buy their hardware wallets every couple of years, Trezor won't make the money they need and want. They can hardly expect a constant influx of new users who buy a device for the first time and only one time. So, they have to sell a new gadget to their existing userbase every couple of years to remain profitable. They will introduce just enough new features and options to call it a new device that provides you with something extra, but nothing too fancy that will last forever. And in 2, 3, or 5 years, they will press repeat and do it all over again. 

Juan Pellicer sounded quite Spanish to me, and as I see in 'about us' all the team have Spanish names but are based in Miami, so they could easily be Cuban expats or descendants of Cubans.


Well, if everyone holded I don't know what value bitcoin would have, as no one would want to trade it, even if they believed it had a lot of value. This is an extreme case that will never happen, obviously, but the richest economies are those where the most goods and services circulate, whether they are exchanged directly for fiat or other assets such as bitcoin.

I do recall JLP himself writing that it's using projective coordinates in the ecmath. So I guess for his modular multiplication implementation too (this is the same for VanitySearch).

In such a coordinate system, a different variable holds the divisor that's accumulated during the multiplication steps of the other two variables, so that reduction can be done much much later (as it is still expensive, even if you use heavily optimized algos of binary GCD and 2x52 legs).

Since the multiplication can be done by repeated addition, this page might come useful: https://www.nayuki.io/page/elliptic-curve-point-addition-in-projective-coordinates

That time has already come and we are seeing a lot of people making a lot of changes right now. Look at governments, most of them are making a mistake and we should consider how this is a very normal situation. I think the best thing about the current deal is that we need to make sure that we can hold it, as long as we can so that we can profit from it while governments end up with getting a better result.

Just consider the fact that we are going to be seeing a lot of the best things possible happening to bitcoin by governments not only accepting its existence, but putting good laws into it as well, saving people from scammers and also keeping it legit and a commodity as well. So all in all, I think we are on the right direction.