How Multi-Sig Makes All Bitcoiners Safer
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- Опубликовано: 6 сен 2024
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In this video, I discuss how Bitcoiners moving their Bitcoin holdings into multi-sig makes all Bitcoiners safer. Once thieves learn that most Bitcoiners do not store all of their keys at home, future home invasions and break-ins should become less frequent.
At bare minimum, Bitcoiners should withdraw their Bitcoin from the exchanges and hold it on a hardware wallet (single sig cold storage).
The next step is to move that Bitcoin into multi-sig, where multiple keys are required to move the Bitcoin. The gold standard of multi-sig involves using hardware wallets from different vendors, as well as distributing those hardware wallets geographically.
"Not your keys, not your coins." If you need to ask someone's permission to move your Bitcoin, then the Bitcoin doesn't really belong to you.
Multi-sig also helps to mitigate against supply chain attacks, especially if you use hardware wallets from multiple vendors.
At the end of the video, I discuss collaborative custody solutions like Casa and Unchained, as well as the possibility of building your own multi-sig vault for maximum security and privacy.
Not investment advice! Consult a financial advisor.
‘The money is gone’: people who lost out in FTX’s collapse:
www.theguardia...
BlockFi Crypto Customers Lose Fight Over Disputed Coin Transfers:
www.bloomberg....
Blockstream Jade hardware wallet:
blockstream.co...
ColdCard hardware wallet:
coldcard.com/
Don't Use Trezor Coinjoin (Or Trezor):
• Don't Use Trezor Coinj...
Fake Trezor Wallets Designed to Steal Bitcoin:
www.nobsbitcoi...
Casa Adds Support For Morons (Ethereum):
• Casa Adds Support For ...
Crypto's Dirty Little Secret:
• Crypto's Dirty Little ...
Is Your Crypto Collaborating With Government Spy Coins?
• Is Your Crypto Collabo...
Unchained multi-sig vaults:
unchained.com/...
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#Bitcoin
#multisig
#hardwarewallet
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Question: Ledger recently made changes to thier product Nano-X , what to do , alternatives for cold storage ?
@@luckyone7878 I like the Blockstream Jade and ColdCard hardware wallets. I'm not affiliated or being paid by either company.
@@Bitcoin_University thank you I really appreciate your honest opinion.
@@Bitcoin_University ? about Casa.i talked to Jameson and he's a true bit coiner so I will support him, even though VC's want a different route supporting shitcoins. For Casa:. 3 keys are required for multisig, do you recommend 2 HW for the 2 keys or 1 HW for key 1 and using the casa mobile app for key 2? Both options fine?
What about electrum multi sig wallets?
Best Bitcoin channel on RUclips
Thank you
Hands down
@@Bitcoin_Universitywhen will BTC stop moving in sync with traditional markets?
Multisig is definitely the most secure way to self-custody right now. In the future when OP_VAULT is added to core, we'll be able to create a vault on-chain that will, for example, require a 7-day wait period before funds in a wallet can be transferred out to an address not on your safelist. This won't necessarily prevent against loss of keys, but it will make theft much more difficult without the complexity of multisig.
Matthew, as always, thank you for your important work. You are one of the few educators in this space that trust. I can see that multi-sig would not only increase security, but also fit nicely into estate planning. Like you, I’m mostly concerned about BTC price for (hopefully) my children and generations of grandchildren. A video about bitcoin relative to estate planning mechanics would be most welcome!
"I used to recommend them but no longer do" will be an appropriate title to this video.
Id recommend to have some fake Hardware wallets with keys lying around. So if someone breaks in with the intention to steal a hardware wallet they will go for the fake one.
I've been listening to you for some time now, Matthew, and I still benefit immensely from your videos. You keep me focused and on course. Keep em coming!
Thanks for the kind words
@@Bitcoin_University Please consider my reply to your pinned comment. If it has wheels...please help me unpack it.
@@KharlHungus I like the Blockstream Jade and ColdCard hardware wallets. I'm not affiliated or being paid by either company.
Thank you 🙏🏼 Have not been commenting a lot lately but still watch your daily videos. Your efforts are much appreciated!!!
I appreciate you
Love your stuff sir, just wanted to give a counter argument here... You can have single-sig solutions that are resilient to 5$ wrench attacks when incorporating a passphrase. For example you can have two backups of your passphrase and two backups of your seed (one of them being the device); all stored at different locations (4 locations). Any of the 4 locations could be destroyed and you'd still have access to your keys.
The point on supply chain risk is more valid, IMO.
Another point that's a win for multi-sig is the resilience of creating multiple seed phrases... maybe use 3 different computers to walk though the setup on your devices... Maybe use dice rolls on one and the built in entropy on another... IDK how much of a security benefit this would really be... but just thinking outload.
A privacy negative of the multi sig could be present if you store your wallet config file (xPubs) with each key.... anyone with that file would be able to see the funds being held by the multi-sig. Without that file you would not be able to access your funds with 2/3.
Exactly. Curious about your thoughts on the security value of the SLIP39 Shamir (with Trezor). In lieu of their recent bad behavior, is Shamir a solid security plan AND is there now a threat internally via Trezor?
Thank you Mathew. Just what I wanted to know after your last video. Clear and transparent info we all need during these times. Very reassuring. The Blockstream Jade does not seem to be supported by Unchained. Was there a separate suggestion for multi-sig when using the Jade?
imo the potential supply chain attack can be mitigated with a Coldcard. Coinkite knows this is a risk, so the Coldcard not only contains one but two secure elements from different manufacturers in addition to an MCU. The seed is then distributed among both secure elements and the MCU. So even if one secure element would be compromised, you still need the other secure element (which is unlikely to be compromised as it comes from a completely different manufacturer) and the MCU to decrypt the seed. It's basically like a multi-sig solution but in one device.
I agree mostly but keep in mind you are trusting Coinkite and that their “open source” code is truly the code they put on your Coldcard. This is why he was basically saying definitely single sig on coldcard better than on exchange, but not as safe as 3 different hardware vendor wallets with 2 of 3 multisig.
I’d be interested to know your thoughts on collaborative custody such as what’s offered by unchained and the Bitcoin adviser. In fact, would you mind making a video on the Bitcoin adviser where they hold one key, you the Bitcoiner holds one key, and then the vault holder owns the third in a 2-3 setup.
I like how straight forward this dude is wow !
I hear you on the benefits of multi-sig, but where I am originally from (somewhere in Asia), there is a long history of people doing the equivalent of Multi-Sig with real estate inheritance that has been a tremendous nightmare. This kind of arrangement became popular for whatever reason several decades ago, the exact conditions varied by the contract, but basically the land can't have anything done to it unless ALL the designated beneficiaries reach consensus.
Not too bad when only 2 or 3 people are designated. But sometimes even that can be a nightmare, because they have different ideas about how the land should be used. Do they sell? Do they rent it out? If they agree on THAT then who gets to run the process for that? How do they split the $?
And sometimes the list of designated Multi-Sig persons can literally be "all the descendants of Patriarch X", then you get into the REAL nightmare. Some of these land disputes have been in the courts for DECADES.
So if we are going to advocate for Multi-Sig as the best security practice for Bitcoiners..... I think the tail end of this should be considered very carefully. Yes, there are clear security benefits. But what happens if you DO want to move the coins, and the other signatories do NOT want you to? And these are YOUR coins. What then?
Great video. Can't wait to practice this on my old Ledgers when I receive my new Blockstream Jades
Great video, nothing to add so I will talk about something else. I've seen people complaining ''why ledger why?!''. I think it's good that they did this. The fact that they can upgrade the firmware and extract your private keys means that the ability to do it was always there from the beginning, we just didn't know. Now we know. I'm glad they are doing it now and not 10 years later.
Now I'm wondering if Blockstream and Coldcard can do the same. Matthew if you're reading this, what's your opinion?
Ledger has always had closed source firmware, so people had to trust them. Blockstream Jade and ColdCard firmware is open and viewable by anyone, which makes it much safer
The BitBox2 seems not too bad also.
Matthew have you seen Robert F Kennedy Jr speech on Bitcoin? I dont know are politicians starting to "abuse" idea of BTC for their interest to get voters or are they genuine. I am always sceptical, especially about politicians. Would love to hear your thoughts about it if possible. Cheers!
What combination of hardware wallets do you recommend for multisig now that trezor and ledger are out of the picture?
Matthew, you should make a video addressing the new mempool transaction acceleration marketplace.
basically paying miners under the table to prioritize your transaction instead of using RBF.
seems like it can cause some real problems for Bitcoin 😞
What are some potential problems that this could lead to? I haven't considered this scenario before, but at first glance it seems like the free market would continue to work. I'm assuming the goal for doing this would be to keep the transaction fee market artificially low. If that is the case, though, as more and more of these "under the table" transactions fill the block space, then the remaining block space would become more of a premium. Normal transactions would compete for the remaining limited block space, thus driving up transaction fees (the same as if the original fees had not been paid under the table).
@@paullamb1100 for one it would mess up fee estimation for wallets.
the fact that it’s done privately outside of the bitcoin protocol means that those premiums won’t be reflected in the mempool and once a block is confirmed the boosted transactions “jump” from the back of the pool straight into the confirmed block.
@@SakiHaki I see, that makes sense. I think what that would boil down to is longer confirmation times for folks who are using wallet default fees and not paying attention to the size of the mempool (which is probably most normal users).
Brainstorming a little, a couple of initial thoughts on how to address the issue if it becomes widespread (there are always tradeoffs to consider of course):
The wallets could probably update their fee calculation logic to factor in mempool congestion.
The wallets could maybe exclude a percentage of the most "illogical" transactions in their fee calculation by comparing fees between transactions in the same block and how long they were in the mempool compared to the mempool volume.
Mining software could alert miners when the pool they are connected to appears to be making under-the-table deals (looking for lots of "illogical" transactions)
Another generally good idea I think, is further improvements and education on LN to move more transactions off the base layer, to both relieve congestion and justify higher fee settings for settlement transactions on the base layer (by batching to larger amounts).
@@SakiHaki This might also be a good use case for Stratum V2, which gives individual miners control over what transactions they are hashing on behalf of the pool. Pool operators would no longer be viable targets for bribery.
This is honestly a great channel. So clear and helpful.
I appreciate that!
I find that the likelihood of someone attacking me for my Bitcoin to be very low, so I use a passphrase/decoy wallet setup. Besides, if everyone used multisig, the attackers would just keep beating you until you reveal the location of the second wallet.
it works for you because you are a random person.... :)))
With the recent ledger action I’m afraid to trust anyone KYC. I’m not sure we shouldn’t go to paper wallets and DEXs but the cost in time and money is prohibitive. Also, Matthew makes a good point about the bank vault / safe deposit box. It’s getting harder and more expensive to be serious about Bitcoin. Also, governments are both openly and covertly attacking Bitcoin and crypto in general. I agree and disagree with Matthew about Eth. The less control and regulatory authority the government has over anything the better off we are.
I do NOT recommend Blockstream Jade. It was super buggy and it froze mid signing of a transaction. DId not give me confidence at all.
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You said something about own vault? What is that? And how its done..
No BTC Miami Matt? Thanks for covering the hot topic
Hey Mathew, question about multi-sig vaults. Are vaults proprietary to the wallet you set them up with, or are they universal to the blockchain like BIP39? In other words, if someone sets up a multi-sig with sparrow, but then lets say that hypothetically in the future sparrow wallet no longer exists, can they re-setup that same multi-sig with another wallet that supports them like Electrum or Blue wallet (Assuming that user still has all the original seeds, master fingerprint, derivation path, xpubs and all that)?
i don't like Multi-Sig... seems too cumbersome
and it adds it's own risks
maybe having more than one wallet with separate seeds and splitting your bitcoin between them can help against some threats? for example having a software wallet with limited bitcoin for everyday use?
anyway i don't have much bitcoin to even think about these - lol
i have a software wallet only with a tiny fraction of one bitcoin
What are the risks multisig adds?
@@minesadab e.g. u need to protect more than one wallet... u need more than one to own your bitcoin really... what if they are lost? if u give some of them to other people or store them at other places, u worry about more people, more accidents or scenarios...
@@kjyu4539 the way I see it, you have to be way less careful with the backups. You can create lots and do things like burying them etc. It doesn't matter if anyone finds one because they're useless to them. With single -sig anyone sees your seed phrase and all your money disappears so you have to be super super careful how you store it and back it up.
@@minesadab i don't know much about hardware wallets and multi-sig
personally i used only software wallets so far
i don't keep my software wallet activated for long and enter my seed phrase in it only when needed
i encrypted my seed phrase with a strong encryption algorithm and strong password and stored the encrypted file in several places
seems it's somewhat like multi-sig... both the encrypted file and password are needed to access the seed phrase... u can store them in different places or just rely on your memory for the password if u can and are sure u can afford it... it is sufficiently safe for guys like me with small amounts of bitcoin and without hardware wallets, but i do not recommend that for substantial amounts of bitcoin of course
@@kjyu4539 that’s not multisig. Multisig requires multiple signers to send/spend your BTC. With your setup, only one device access is needed to send your coins.
Where are those courses you do for more hand holding ?
Any insight on keystone wallet?
What about using Shamir? is trezor the only one that offers that solution?
I believe coldcard has it on the roadmap for this year...
Another notable company is nunchuck, they have an assisted multisig solution that is better for privacy minded folks. I haven’t personally used their services, but I’ve heard great things. One of the cool features that has made me consider them personally is they managed to find a way ease the inheritance process while being privacy minded.
Thanks for the video. I was interested in the project AINemo , the new memecoin can not find enough information about it, well the first days it justified itself 100%, could you shoot a short review and your predictions about the project?
Problem with unchained or casa is once the govt forces them to comply they have one key and your name and address. Next govt shows up at your door and demands the 2nd key. Game over. If I was a govvie a service like this the first place I would go because it’s all users storing large amts. it’s a honeypot.
EXACTLY!
Or if you lose one of your keys and then need Casa to provide theirs for you to move your funds and they went bankrupt or don't comply then you are screwed.
I cannot wrap my head around how it could possibly be more secure to surrender a key to your Bitcoin to another entity. The main attraction of bitcoin was that you can SELF-custody and trust no one.
Plus, if a man breaks into your home and puts a gun to your spouse or childs head and sits you down in front of your laptop to make a bitcoin transfer, wouldnt you rather be able to accommodate him right then and there to save your loved one's life? Instead of stuttering to explain multisig and pleading for him to let you call your trusted relative/friend and risk the injury or death of yourself and family? I just don't get this.
This is a a really valid point.
That's why you have a decoy wallet.....
Hey Mathew - wondering what you think about collaborative custody using Unchained and another third-party like Bitcoin Advisors? Maybe a topic for Saturday Q&A?
rocking a 2/3 multisig wallet created by Jade, cold card MK3, and software wallet(blue) on sparrow…so far so good!
Thanks for the vid! A lot of us were looking for clarity in regards to multi-sig solutions. Appreciate your input.
Excellent explanation thank you sir!👍🏽👊🏽
Why use 2 or 3 different hard wallet manufacturers instead of 1?
Is there a tutorial you have that shows a step by step solution to creating a multi-sig vault?
Multi sig still have wrench problem, they will threaten you to convince another signature to work with you😂
Multisig is pretty simple with a BlueWallet vault
I need to learn how to do this. I noticed that Blockstream Green has a multi sig option.
Except it uses a 2FA pin via sms and your phone which could be SIM SWAP attacked. Don’t love that.
Thank you for the great education on multi-sig ser
Mathew if you could only choose one cold storage wallet which one would it be? The jade or the cold card?
ColdCard
Hi Matt...unchained uses the ledger, trezor and coldcard. I do not think they support jade.
That's good to know. I hope they add Jade support soon. For now, you could use ColdCard and Trezor with Unchained, since they hold the 3rd key
Thanks
Thank you so much
Thanks for watching
what are your thoughts on RSK sidechain?
So with a multi sig, what about storing the keys? What’s the best way to go about that?
Thanks Mathew! What do you think about Tangem card wallet?
I don't like them because they offer altcoin support. This makes the wallet have a much wider attack surface
I know it’s not optimal but is it safe to do a multi sig set up using ledger or trezor as one of your wallets?
Yes, I think so. If an attacker were to get your Ledger or Trezor private key, they still would need one more key to move your coins, assuming 2/3 multisig
Matt why won’t Strike or Swan allow you to transfer Bitcoin onto their platform. If you want to sell your bitcoin for whatever reason you have to leave it on their exchange.
I honestly don’t trust any other exchange (coinbase, Binance, kraken, etc).
So I’m left in this conundrum where I move it to my hardware wallet, but now have no ability to sell.
What do?
HODL
Matt, just wondering what you think about "Qortal"? Mike Adams on Natural News is currently raving about it, but I am not so sure.
Matt can you cover that hardware wallet that looks like a credit card tangem it looks sketchy not sure if I should use it
That’s a company called Arculus. They offer no multisig and they serve a hundred shitcoins. Don’t.
Please explain how I am wrong. Hardware wallets make sense, but not multisig, not for individuals anyway. For a company with multiple wallets distributed among the officers multisig might make sense, but for an individual it just increases the complexity of making transactions and doesn't improve security much, if at all. To make your case, you would need to game out the likely scenarios. How are you going to make transactions with multiple wallets in different locations where you don't have convenient access? If you lose 2 of your 3 wallets for whatever reason, how is a collaborative custody provider going to be able to help you access your bitcoin? (They can't.). I don't see any benefit, just more 3rd order risks when your trusted friends get together and take your bitcoin, or more likely lose the hardware wallets you gave them by accident. Unless you can spell out specific scenarios that make multi-sig practical and safe, it seems like a near useless concept.
I think we're safe from the "$5" wrench attack. Can't find any at that price now!
Why are your courses not available in Germany?
Instead of a cold wallet what about having 5-10 hot wallets with no more than 5-10% of total assets each ?
horrible idea
Why ??? @@123Noscope
My man Matt!
Matthew,
I’m a bit worried that Biden et al will let a default occur to push a certain agenda
What would you be looking for as the point of no return, and what would be the immediate, medium/long-term repercussions?
Besides self-custody of BTC , what else would you do to mitigate if you still have exposure to traditional financial products (pensions, cash in the bank, etc) as well as at-home solutions (food, water, even country of residence)??
Thanks for all that you do ✌️
Hi Matthew. Thank you so much for this information. I just wanted to know if you already have a multisig setup, would your funds that was stored with ledger still be in jeopardy in light of the new news regarding their product? Does multisig prevent your BTC from getting stolen despite Ledger possibly having a backdoor and being able to extract your seed phrase? Thank you
If I store my bitcoin on a Trezor, can I setup multisig using my same Trezor and order two other wallets such as coldcard and blockstream jade? Or would I need to start fresh and order 3 new wallets?
Yes you can use a Trezor and those other two
the fees on bitcoin are very high, thats why many people wont bother remove from exchanges... they dont have that much money
lol
Thoughts on 40+ character pass-phrases?
Impressive, so much fundamental information you give us. Very necessary for preparing ourselves for a future world with Bitcoin.
MK, re if you have to ask permission to move your BTC, it doesn't really belong to you (~1 min).... I just learned that the hard way with my account at a credit union which, btw, despite doing copious amounts of kyc on depositors, credit unions/banks do NOTHING for kyc during check cashing (i.e., they don't validate the checks are authentic from other credit union/banking facilities, they don't validate signatures, they don't validate check number sequences, & they don't validate whether the check was cashed in a location its depositors frequent, & then they stiff you for their lack of security. They act like they have NO fiduciary duty to the depositors.
Hi there
Using one ledger one trezor and some other hot wallets and want to get rid of them or combine them to 1 multi..What do you suggest in my situation? Also using and wasabi ..I like all of them but ia want to protect them now
Hey Matthew, thanks for the video, gave it thumbs up.... 1 question, let's say that you want to restore a multisig wallet. I have been reading about this a lot and 1 thing is a little confusing. It says that it is not enough to have the 3 original wallets/seeds... you also need extended public keys for each wallet in order to restore.... could you please explain that a little? Do I have to save each xpub key on a file somwhere or what?
I've always used the Jade, might want to start looking at the Coldcard too. I just memorize the seed phrase and hope i dont go into a coma or get dementia.
Great Video!! Are multisig providers capable of stealing funds? Additionally, what would happen if they cease operations or go out of business? Would we lose all our assets in such scenarios?
Multisig providers like Unchained cannot steal your funds, because they hold only 1 key out of 3-- and you need 2 keys to move the funds. If they go out of business, there's open source software that would still allow you to move your funds using your two keys.
You could memorize both Seedphrases and when you need them, just download two separate Bitcoin Wallets and Restore both Wallets separately so you can use them to sign the transaction. Or have them written ✍ down on a piece of paper.?. 🤷🏻 No hardware Wallets needed. Definitely cheaper. With a Cheap Burner phone 📱 with Wi-Fi of course.
So what are you going to use to sign your transaction then? A software wallet, i.e hot wallet-- not a good idea
@@Bitcoin_University Your hardware Wallets have to connect to the internet to sign anyway. I'm using a cheap burner phone 📱 with no Phone service ... Just access to Wi-Fi when I need it.
@@Simonsays7258 When you sign a transaction while connected to WiFi, you may be exposing your private keys. You also have no idea what other software/malware may be running in the background on that phone-- and it could steal your keys.
I made a video to further respond to you:
ruclips.net/video/8cXw6UFTpDU/видео.html&ab_channel=BitcoinUniversity
This is great a great “opinion” piece. It’s likely to result in my taking one of Matt’s classes. (What’s this little number box to the right of the text with a +)?
I’ve wondered about wearing BTC & other crypto shirts as a Security behavior practice. On the one hand, I wouldn’t want to put myself or my family/friends at risk, by being irresponsible. On the other, I’m a former Marine combat veteran & live by the philosophy of train hard, train smart. It’s a warrior ethos, & I want to believe it would be a mistake to follow me home. Especially with the warrior ethos splattered all over my vehicle. That said, part of the warrior ethos requires that when in a combat situation, always have a exit plan, & avoid ambushes. It’s kind of an essentials thing! Not wearing emblems of my beliefs is a tough choice. Live free or die!
I’m just sayin..
Matthew, why aren’t you at the bitcoin convention in Miami?
I'm a bit of a recluse, like many crazy Bitcoiners. How's the conference going? Any presentations that I should take a look at?
@@Bitcoin_University , notables: Bobby Kennedy is the first presidential candidate to endorse bitcoin, and is taking bitcoin campaign donations. Jack Mallers has expanded the use of STRIKE and the lightning network to 65 countries totaling approximately 3 billion people with his headquarters now in El Salvador.
It was a VERY different feel than last year. ZERO mention of price predictions. All the focus on the strength of the foundation (more HODLers). Actually left me feeling a bit deflated and shall I say “worried about our future”. Felt A LOT like a deflated network marketing event.
what hardware wallet to use for storing eth?
Here's the issue, transaction costs. Moving a few hundred $s worth of BTC to hardware or whatever costs a few dollars. So, if I move $100, it will cost me roughly $3, which is 3%, and that's ridiculous. Gladly other cryptocurrencies are less expensive than BTC, but it is still an issue.
I listen to you everyday🙏🏼
Can it be deduced by public data on the blockchain, how many sigs a transaction used/needs?
Not related to this video, but I don't know how to contact you. Can you check what is exactly going on with the Muun wallet? I used it to promote Bitcoin, but now the fees are or can be outrageous for Lighting transactions. I loved their solution, but I am very disappointed it seems they didn't take into account Bitcoin fees going up.
The problem with muun is that it uses submarine swaps and muuns channels. It is not a real lightning wallet per se. Use phoenix wallet, that is a real lightning wallet. You can manage your own lightning node and channels. While keeping real custody of your funds.
We like to hear your input on Tangem.
Can you use three block streams for multisig? Why is using different wallets a good idea
Yes, you could, but using wallets from different vendors helps to guard against that particular company going rogue and trying to take your BTC. Blockstream is a great company so unlikely but theoretically possible
Multi-sig using normal PCs is more secure than using hardware wallets for high net worth individuals. In such a situation you are much more likely to be a target of supply chain attacks when buying your hardware wallet online than you would if you walk into a store and buy a chromebook or an iPhone.
The online nature of how hardware wallet companies operate means that their postal service system is a single point of failure. We know that routers and printers have been compromised by shipping companies in spying operations, so why on earth wouldn't employees at these companies do the same for money?
I think supply chain attacks on iPhones or Chromebooks are far less likely than on bitcoin companies simply because you can buy these products directly and because they all have the same or better authenticity authentications built in.
Seedsigner fixes this.
I am just starting out with bitcoin... where do I find beginner information?
I'm happy to help-- email me at mattkratter@gmail.com with your questions
Thanks for the content!
Multi sig for a while.. maybe.
To ironically quote ledger's cto.
"And open source doesn’t really solve this. It’s impossible to have guarantees that the electronic itself is not backdoored, nor that the firmware that runs inside the wallet is the one you audited."
If the electronics is backdoored and you buy 3 hardware wallets under the same name I'd say you're screwed..
Hey brother, for Bitcoin networks which app is suitable to multisig our btc. is it Electrum?? Becaus in common Gnosis Safe app it doesn't have Bitcoin Network
Thanks Matt, What do you thing of Bitcoin 23 conference?
Great info as always
You are my 1st stop to my gym RUclips Bitcoin session
Working my way up to multi sig, I bought a second hardware wallet ( Jade Blockstream) in order to have different vendors.. Once arrived, went to Unchained website just to find out they don't support Jade hardware. Any new suggestions ? Thanks for your videos
Hey Matt can you add the bitbox as a hardware key to Nunchuk? I’m trying to create a 3of3 multisig with my jade, my Q, and my bitbox.
Also can I access my bitbox wallet with my seed phrase into Nunchuk? If I create a multisig wallet it won’t be got right?
Hot not got
Hi Mathew, long time viewer first time commentor, would you ever speak at a bitcoin confrence if given the chance?
Yes. I've been offered the opportunity before many times and turned it down for privacy reasons. But I think I'm finally ready
@@Bitcoin_University Matthew, that would be good.
There’s ZERO chance Matt would ever speak there. Lol.
Thank you, Matthew!
You mention people who have 'lost' their BTC by leaving it on exchanges. What has happened to their BTC? Does it still exist? Has it been stolen? Or has it just evaporated?
Their BTC now belongs to someone else like Sam Bankman Fried or Do Kwon or another thief. The BTC still exists, but with a different owner.
Maybe you've answered this before but my friend brought up a good point that I haven't heard an answer to: what happens when the rich people buy up all the bitcoin? Where does that leave the rest of the world?
Stop waiting - just start buying what you can afford now. “Rich people” don’t own all the gold. Your neighbors have some I’m sure.
@@edfox2725 im not waiting. But what happens to the people who either are waiting or don't hear about until after mass adoption?
@@shazbot131 as always with everything in life (Proof of Work), the longer you’ve held, the more you buy, the more risk and stress you assume…the greater the reward. Late adopters will always be able to buy, but it wont change their lives (in terms of investment).
Hi Matthew, if we keep our 2nd hardware wallet with a friend, he will be able to see the balance. Right? During 5$ wrench attack, the attacker can make the victim call his friend and sign the transaction. If the friend does not sign the transaction with in given time, the attacker can claim to harm the victim. That is possible. Is not it?
How does the addition of Ethereum affect Casa as a multisig solution negatively, other than promoting shitcoins? Even with the additional attack vectors, they still can't seize or move coins without your consent. Unless I'm misunderstanding the 2 of 3 key storage framework. I ask as a Bitcoin ONLY Casa user.
What's your recommendation for the people that have their Bitcoin stored on the Trezor hardware wallet due to your earlier recommendations that were very positive for Trezor?
just don't do the Trezor firmware updates
In a recent video you commented that you don't like the Shamir method. Can you expound why? Or can you point me to examine the pros and cons?
Which video did he say that? Please link here. I’ve never heard Matt mention Shamir.
Hey Mathew just wanted to ask are you into Tesla for 2030?
I'm not sure I understand the question. Can you elaborate?
@@Bitcoin_University I mean do you own any Tesla stocks?
@@summerbreeze5115 No, I don't own Tesla stock or any other stock-- just Bitcoin.
@@Bitcoin_University so you believe BTC is a superior asset? 😮 But, the government (and our PFP’s) want us investing in equities/bonds. 😂