Pathfinder

Whenever a new Bitcoin block is mined, the @we_satoshis payment card immediately detects it and plays a cool "digital rain" matrix effect while parsing the block. 😍

1. You generate Seed Words (12 or 24 words). These are your backup DNA. Never ever enter them online or into any app. 2. Your Bitcoin wallet turns these words into a Master Seed that is 512 bits of 1s and 0s. 12 or 24 words makes no difference (other than more entropy). Either set ultimately produces the same 512-bit Master Seed. But words are much easier to write down and backup than 512 random digits. 3. That 512-bit Master Seed is run through one more secure hash using the standard fixed phrase "Bitcoin seed". Yes... really! The exact phrase "Bitcoin seed" (along with the space) is part of the algorithm that every Bitcoin wallet uses. This creates a new set of 512 bits of 1s and 0s, which are split right down the middle: First half - 256-bit Master Private Key Last half - 256 bit Master Chain Code 4. Chain Code? The chain code lets you generate as many addresses as you want so you can receive or deposit Bitcoin. 5. These two halves together make your: - Master Extended Private Key (xprv), which then generates your... - Extended Public Key (xpub). Math makes this one-way. You can go from private to public, but never the other way around. 6. Your xpub generates unlimited addresses and child public keys to go with them. So every Bitcoin address has its own child public key (and thus its own matching child private key as well). 7. Your Bitcoin wallet ONLY uses your public keys and addresses to display the balance. You don't have to memorize all of this (obviously). But the flow of what creates what is important as you see that the SEED WORDS sit at the tippy-top. They make everything! And thus can re-create everything. ******* TAKEAWAY: The original seed words and all private keys (master and derived child keys) are the hidden 1s-and-0s that control your money. They are your private and secret signature that no one else should ever be able to access. Otherwise they can just sign for your Bitcoin. Your hardware device (Coldcard, Trezor, Ledger, etc.) prevents these private keys from ever leaving it. That's why we call them "signing devices." They hold the secret, magical pen you use to sign transactions. You don't want anyone else to impersonate you. The xpub and public addresses are the only safe parts to put online or into software (privacy aside). If a malicious actor or fake app gets your seed words, it gets everything. If it only sees your public addresses or xpub, it gets nothing.

@lopp I love it when I get creditor instructions and they can't spell "registered" correctly.

It's a real rollercoaster of a ride when you receive notices that you're eligible for a data breach settlement payout... 😒 Then when you get to the instructions for claiming the payout, you realize you gave the service provider a fake identity because you're a cypherpunk. 😎

1/ There are zero bitcoin inside your Trezor, Ledger, or Coldcard. Your hardware wallet doesn't hold your Bitcoin. Millions of people are operating with a fundamental misunderstanding of the hardest asset on earth. Here is the reality of self-custody. 🧵

@bitcoinwell Love this thread.

@bitcoinwell Great explanation! Here's a haiku that espresses the same sentiment.

Kraken wasn’t hacked. An insider accessed client data → now criminals are extorting them. This is the risk of custodial, KYC-heavy systems. With a self-sovereign, KYC-free Point of Sale: • No honeypot • No client data to leak • No one to extort EclairBTC ⚡ tradingview.com/news/newsbtc:5…

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@coyotenxs Agreed. And what's happening now is just the overture.

Sadly no country is immune to hyperinflation either so we need to get back to hard money and Bitcoin solves many of those issues. It is valuable for means of exchange and savings.

Next Build a PSBT on Wesatoshis. Sign with BitBox02 @BitBoxSwiss . Broadcast from anywhere. Pure self-custody no mobile apps required

@EclairBTC That was sponsored by @cakewallet wasn't it? Great idea.

We've been around Bitcoin long enough to remember this dumpster. If you know, you know. Now we’ve built and are deploying a ridiculously simple Bitcoin Point of Sale for merchants. Montreal/Canada — DMs open or visit eclairbtc.com

@EclairBTC I was there and it was bananas.

This unfortunate loss of 5.9 Bitcoin had nothing to do with Ledger. Malicious actors impersonate popular software like Trezor and Sparrow all the time. The cautionary tale is that your keys (generated by your seed words) should ALWAYS remain offline and on your device. That’s the entire point of having a hardware signing device.

@Excellion @adam3us

Sounds like something Satoshi would say. 🤔

Same here, brother. The ignorance is astounding. Now compare that video to how Milton Friedman explained inflation. Milton Friedman is why I believe in Bitcoin.

EclairBTC POS is LIVE ⚡ Start accepting Bitcoin at your point of sale today. No friction. No nonsense. Free during Early Access. Contact Us and sign up at eclairbtc.com

@scottmelker This issue is very old, the basic warning needs to be said constantly to help people. x.com/thebtcgame/sta…

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