So I tried in the tech thread, and I figured I would try here as well. I have a friend who is asking me which is the best hard wallet for this kind of thing. I've told him him that I know diddly squat about it, but I'm the most tech savvy person he knows. I looked through Ars Technica and couldn't find anything. Is there a reputable place to that has reviewed these things, so I can get an idea of what I'm looking for?
So I tried in the tech thread, and I figured I would try here as well. I have a friend who is asking me which is the best hard wallet for this kind of thing. I've told him him that I know diddly squat about it, but I'm the most tech savvy person he knows. I looked through Ars Technica and couldn't find anything. Is there a reputable place to that has reviewed these things, so I can get an idea of what I'm looking for?
It’s an ecologically disastrous Ponzi scheme and while possibility exists to make money in the interim they are better off staying out completely.
So I tried in the tech thread, and I figured I would try here as well. I have a friend who is asking me which is the best hard wallet for this kind of thing. I've told him him that I know diddly squat about it, but I'm the most tech savvy person he knows. I looked through Ars Technica and couldn't find anything. Is there a reputable place to that has reviewed these things, so I can get an idea of what I'm looking for?
the only real components of a wallet are the address and an encryption/signing key
just a couple of numbers really
any kind of physical gadget trying to manage that for you seems at best a waste of money and at worst a vector for attacks or failures
if their concern is security then they can just put it into a text file and print it out
maybe print out a couple of qr codes so it's easier to enter later
Aioua on
life's a game that you're bound to lose / like using a hammer to pound in screws
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
Which, I am already aware. However... If he is going to do this regardless, I can at least tell him which hardware to get.
I'm not up on the bitcoin terminology but if he just wants a physical device on which he can store his wallet code, there was a story up-thread about a dude with like $20mil or something in BTC in a wallet the code for which was on an IronKey USB stick. He'd forgotten the password and was down to 2 more attempts before he was locked out of it forever.
So if you friend wants a pretty secure device, I guess they could do worse than an IronKey?
But personally I'd trust a paper printout in a safe deposit box more than any encrypted device. Also it's impossible to get permanently locked out of a physical box.
Which, I am already aware. However... If he is going to do this regardless, I can at least tell him which hardware to get.
I'm not up on the bitcoin terminology but if he just wants a physical device on which he can store his wallet code, there was a story up-thread about a dude with like $20mil or something in BTC in a wallet the code for which was on an IronKey USB stick. He'd forgotten the password and was down to 2 more attempts before he was locked out of it forever.
So if you friend wants a pretty secure device, I guess they could do worse than an IronKey?
But personally I'd trust a paper printout in a safe deposit box more than any encrypted device. Also it's impossible to get permanently locked out of a physical box.
I work in cybersecurity these days...and yes, get a paper print out. I can also assure this is literally advice I have actually implemented for people.
Paper and a decent safe is pretty much foolproof in a practical sense.
Which, I am already aware. However... If he is going to do this regardless, I can at least tell him which hardware to get.
I'm not up on the bitcoin terminology but if he just wants a physical device on which he can store his wallet code, there was a story up-thread about a dude with like $20mil or something in BTC in a wallet the code for which was on an IronKey USB stick. He'd forgotten the password and was down to 2 more attempts before he was locked out of it forever.
So if you friend wants a pretty secure device, I guess they could do worse than an IronKey?
But personally I'd trust a paper printout in a safe deposit box more than any encrypted device. Also it's impossible to get permanently locked out of a physical box.
I work in cybersecurity these days...and yes, get a paper print out. I can also assure this is literally advice I have actually implemented for people.
Paper and a decent safe is pretty much foolproof in a practical sense.
More than one copy in separate safe locations might be wise, too, in case something happens to one of them. (But not too many copies, of course.)
Which, I am already aware. However... If he is going to do this regardless, I can at least tell him which hardware to get.
I'm not up on the bitcoin terminology but if he just wants a physical device on which he can store his wallet code, there was a story up-thread about a dude with like $20mil or something in BTC in a wallet the code for which was on an IronKey USB stick. He'd forgotten the password and was down to 2 more attempts before he was locked out of it forever.
So if you friend wants a pretty secure device, I guess they could do worse than an IronKey?
But personally I'd trust a paper printout in a safe deposit box more than any encrypted device. Also it's impossible to get permanently locked out of a physical box.
I work in cybersecurity these days...and yes, get a paper print out. I can also assure this is literally advice I have actually implemented for people.
Paper and a decent safe is pretty much foolproof in a practical sense.
It's ironic the best solution is imitating paper money with serial codes.
not a doctor, not a lawyer, examples I use may not be fully researched so don't take out of context plz, don't @ me
So I tried in the tech thread, and I figured I would try here as well. I have a friend who is asking me which is the best hard wallet for this kind of thing. I've told him him that I know diddly squat about it, but I'm the most tech savvy person he knows. I looked through Ars Technica and couldn't find anything. Is there a reputable place to that has reviewed these things, so I can get an idea of what I'm looking for?
Okay, so I can get your friend the most secure hard wallet in the world - it comes from Japan, so you need some yens to get it. You’re gonna need a hoji, which is like a hundred bucks.
Which, I am already aware. However... If he is going to do this regardless, I can at least tell him which hardware to get.
I'm not up on the bitcoin terminology but if he just wants a physical device on which he can store his wallet code, there was a story up-thread about a dude with like $20mil or something in BTC in a wallet the code for which was on an IronKey USB stick. He'd forgotten the password and was down to 2 more attempts before he was locked out of it forever.
So if you friend wants a pretty secure device, I guess they could do worse than an IronKey?
But personally I'd trust a paper printout in a safe deposit box more than any encrypted device. Also it's impossible to get permanently locked out of a physical box.
I work in cybersecurity these days...and yes, get a paper print out. I can also assure this is literally advice I have actually implemented for people.
Paper and a decent safe is pretty much foolproof in a practical sense.
It's ironic the best solution is imitating paper money with serial codes.
Isn't the whole stance of a crypto coin having a dollar value also kind of ironic?
Also not gonna lie I've thought about buying Doge uh...stock? a couple of times. It's still cheap enough that no real money would be lost if I decided to do this
i would not be surprised if you could buy a tesla with dogecoin in the near future, if there's anything elon loves doing its trolling
AAAAA!!! PLAAAYGUUU!!!!
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ApogeeLancks In Every Game EverRegistered Userregular
I mean there are payment processors aplenty that accept crypto... they just convert it to fiat on receipt (with a hefty markup, of course). Not much risk to the processor since they don't actually hold onto the crypto, and governments don't care so long as taxes are still collected.
Isn't the whole stance of a crypto coin having a dollar value also kind of ironic?
Not really. Euro is a real currency, and it still has a dollar value: the exchange rate.
I think he might be referring to the fact that crypto's pricing is based on the dollar, rather than simply having a dollar equivalent.
Like if the local pizza shop accepts bitcoin, the menu will say "here's the price in dollars, but you can also pay us the current bitcoin equivalent at the time of your order."
They're never going to say, "here's the price in bitcoin."
Isn't the whole stance of a crypto coin having a dollar value also kind of ironic?
Not really. Euro is a real currency, and it still has a dollar value: the exchange rate.
I think he might be referring to the fact that crypto's pricing is based on the dollar, rather than simply having a dollar equivalent.
Like if the local pizza shop accepts bitcoin, the menu will say "here's the price in dollars, but you can also pay us the current bitcoin equivalent at the time of your order."
They're never going to say, "here's the price in bitcoin."
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
Oh, I agree. Bitcoin is garbage for so many reasons. But in this one aspect it is not so different from actual for-reals currencies.
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
Oh, I agree. Bitcoin is garbage for so many reasons. But in this one aspect it is not so different from actual for-reals currencies.
The point was that somewhere in the world something is priced primarily in that currency, and any secondary currency value is converted from that.
Nowhere will ever have the bitcoin price as the primary currency that the seller has fixed the value at.
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
Oh, I agree. Bitcoin is garbage for so many reasons. But in this one aspect it is not so different from actual for-reals currencies.
The point was that somewhere in the world something is priced primarily in that currency, and any secondary currency value is converted from that.
Nowhere will ever have the bitcoin price as the primary currency that the seller has fixed the value at.
Bitcoin and cryptocurrencies in general remain mostly a sociological exploit about the state of economics and financial education within the general populace.
Isn't the whole stance of a crypto coin having a dollar value also kind of ironic?
Also not gonna lie I've thought about buying Doge uh...stock? a couple of times. It's still cheap enough that no real money would be lost if I decided to do this
Doge has a market cap of almost 8 billion dollars. It's not cheap, it's a joke currency, it should not be worth 8 billion dollars. You need to look at market caps when looking at cryptos because they all have different supply numbers. A low dollar per coin price does not mean cheap, it might just mean there are billions of coins in circulation instead of millions.
Part of me is wondering, with the stonks stuff and doge, we might be entering an area where memes and viral stuff is increasingly monetized via things that internet society just declares as valuable. Like a merging of collectibles and stocks/currencies.
market caps for cryptocurrency don't really tell you much, since often the vast majority of those coins are sitting in dead wallets
life's a game that you're bound to lose / like using a hammer to pound in screws
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
Oh, I agree. Bitcoin is garbage for so many reasons. But in this one aspect it is not so different from actual for-reals currencies.
The point was that somewhere in the world something is priced primarily in that currency, and any secondary currency value is converted from that.
Nowhere will ever have the bitcoin price as the primary currency that the seller has fixed the value at.
Bitcoin and cryptocurrencies in general remain mostly a sociological exploit about the state of economics and financial education within the general populace.
cryptocurrencies are a global scale power virus using human greed to propagate
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
Oh, I agree. Bitcoin is garbage for so many reasons. But in this one aspect it is not so different from actual for-reals currencies.
The point was that somewhere in the world something is priced primarily in that currency, and any secondary currency value is converted from that.
Nowhere will ever have the bitcoin price as the primary currency that the seller has fixed the value at.
Or, to put it another way, you're not going to see contracts where people agree to specific amounts of bitcoin in advance.
i.e, "Hey, I want to hire you for a job, I will pay you this number of bitcoin per hour."
Kind of hard to have an independent currency if you can't even write your own contracts.
Just_Bri_ThanksSeething with ragefrom a handbasket.Registered User, ClubPAregular
Queue stockholder lawsuit.
...and when you are done with that; take a folding
chair to Creation and then suplex the Void.
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Monkey Ball WarriorA collection of mediocre hatsSeattle, WARegistered Userregular
edited February 2021
I'm not sure if they can sue, if tesla really believes they will make money doing this.
But if I was a stockholder, I'd be incandescent with fury. They are a car company, not an investment bank. If they have too much money they should just start a dividend.
Monkey Ball Warrior on
"I resent the entire notion of a body as an ante and then raise you a generalized dissatisfaction with physicality itself" -- Tycho
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webguy20I spend too much time on the InternetRegistered Userregular
Musk has also been pushing Doge, which is over 8 cents today. Crazy.
Yeah it's extremely silly. If your company wants to hold onto a bunch of cash (and there are reasonable reasons to do this) then it should be in some safe low risk account.
If the company wants to invest then they should be investing in themselves! They could be using that 1.5 billion to like build factories and shit.
life's a game that you're bound to lose / like using a hammer to pound in screws
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
Is this just a way of transferring some money from Tesla directly into Elon Musk's personal accounts? Did he just so happen to sell Bitcoin (directly to Tesla?) after this announcement?
Is this the reason BTC has been going up in price? Bying 1.5 billion with a B bitcoin can't possibly be done overnight. That has to be a significant fraction of the total value, and drive up prices.
Is this the reason BTC has been going up in price? Bying 1.5 billion with a B bitcoin can't possibly be done overnight. That has to be a significant fraction of the total value, and drive up prices.
The buy probably happened over weeks, probably handled by some firm that helps execute big investments like this. It probably drove the price up a little, but not like a sudden $1.5B market buy would. The news is probably what pumped the price, since the kind of nerds who worship Musk and who might consider buying bitcoin have a lot of overlap I imagine.
I wonder how they will square the environmental impact of bitcoin. Isn't Tesla supposed to be a pretty green company?
+3
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FencingsaxIt is difficult to get a man to understand, when his salary depends upon his not understandingGNU Terry PratchettRegistered Userregular
Is this the reason BTC has been going up in price? Bying 1.5 billion with a B bitcoin can't possibly be done overnight. That has to be a significant fraction of the total value, and drive up prices.
The buy probably happened over weeks, probably handled by some firm that helps execute big investments like this. It probably drove the price up a little, but not like a sudden $1.5B market buy would. The news is probably what pumped the price, since the kind of nerds who worship Musk and who might consider buying bitcoin have a lot of overlap I imagine.
I wonder how they will square the environmental impact of bitcoin. Isn't Tesla supposed to be a pretty green company?
Honestly, they will probably not acknowledge it at all.
Honestly, I'm mostly surprised Musk didn't launch his own concoin con.
Buying a Tesla nets you 100 coins and for every thousand miles driven you get another coin. The rate is doubled if you use autopilot, and tripled if you play a game on the center console at the same time.
You know how tesla basically maintains that all the code in their vehicles is proprietary and their own and increasingly tries to expand that domain into hardware? Elon is definitely crazy enough to make people's cars start mining when they're not using their computers to drive themselves
Posts
It’s an ecologically disastrous Ponzi scheme and while possibility exists to make money in the interim they are better off staying out completely.
MWO: Adamski
the only real components of a wallet are the address and an encryption/signing key
just a couple of numbers really
any kind of physical gadget trying to manage that for you seems at best a waste of money and at worst a vector for attacks or failures
if their concern is security then they can just put it into a text file and print it out
maybe print out a couple of qr codes so it's easier to enter later
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
Just tell him to get a Trezor
I'm not up on the bitcoin terminology but if he just wants a physical device on which he can store his wallet code, there was a story up-thread about a dude with like $20mil or something in BTC in a wallet the code for which was on an IronKey USB stick. He'd forgotten the password and was down to 2 more attempts before he was locked out of it forever.
So if you friend wants a pretty secure device, I guess they could do worse than an IronKey?
But personally I'd trust a paper printout in a safe deposit box more than any encrypted device. Also it's impossible to get permanently locked out of a physical box.
I work in cybersecurity these days...and yes, get a paper print out. I can also assure this is literally advice I have actually implemented for people.
Paper and a decent safe is pretty much foolproof in a practical sense.
More than one copy in separate safe locations might be wise, too, in case something happens to one of them. (But not too many copies, of course.)
It's ironic the best solution is imitating paper money with serial codes.
The advice of Lord Humungus echoes across time.
Okay, so I can get your friend the most secure hard wallet in the world - it comes from Japan, so you need some yens to get it. You’re gonna need a hoji, which is like a hundred bucks.
Steam: Elvenshae // PSN: Elvenshae // WotC: Elvenshae
Wilds of Aladrion: [https://forums.penny-arcade.com/discussion/comment/43159014/#Comment_43159014]Ellandryn[/url]
Ironic?
or
Appropriate?
Also not gonna lie I've thought about buying Doge uh...stock? a couple of times. It's still cheap enough that no real money would be lost if I decided to do this
Not really. Euro is a real currency, and it still has a dollar value: the exchange rate.
I think he might be referring to the fact that crypto's pricing is based on the dollar, rather than simply having a dollar equivalent.
Like if the local pizza shop accepts bitcoin, the menu will say "here's the price in dollars, but you can also pay us the current bitcoin equivalent at the time of your order."
They're never going to say, "here's the price in bitcoin."
In border towns and some airports you will often see prices listed in local currency and the equivalent in a foreign currency.
Bitcoin is foreign currency to everyone.
The difference is that the foreign equivalent usually stays pretty constant. It doesn't change dramatically from the time you enter the store to the time you're ready to buy.
Oh, I agree. Bitcoin is garbage for so many reasons. But in this one aspect it is not so different from actual for-reals currencies.
The point was that somewhere in the world something is priced primarily in that currency, and any secondary currency value is converted from that.
Nowhere will ever have the bitcoin price as the primary currency that the seller has fixed the value at.
Bitcoin and cryptocurrencies in general remain mostly a sociological exploit about the state of economics and financial education within the general populace.
Doge has a market cap of almost 8 billion dollars. It's not cheap, it's a joke currency, it should not be worth 8 billion dollars. You need to look at market caps when looking at cryptos because they all have different supply numbers. A low dollar per coin price does not mean cheap, it might just mean there are billions of coins in circulation instead of millions.
Part of me is wondering, with the stonks stuff and doge, we might be entering an area where memes and viral stuff is increasingly monetized via things that internet society just declares as valuable. Like a merging of collectibles and stocks/currencies.
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
cryptocurrencies are a global scale power virus using human greed to propagate
change my mind
Or, to put it another way, you're not going to see contracts where people agree to specific amounts of bitcoin in advance.
i.e, "Hey, I want to hire you for a job, I will pay you this number of bitcoin per hour."
Kind of hard to have an independent currency if you can't even write your own contracts.
https://gizmodo.com/tesla-discloses-1-5-billion-purchase-of-bitcoin-in-lat-1846219295
chair to Creation and then suplex the Void.
But if I was a stockholder, I'd be incandescent with fury. They are a car company, not an investment bank. If they have too much money they should just start a dividend.
Origin ID: Discgolfer27
Untappd ID: Discgolfer1981
If the company wants to invest then they should be investing in themselves! They could be using that 1.5 billion to like build factories and shit.
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
The buy probably happened over weeks, probably handled by some firm that helps execute big investments like this. It probably drove the price up a little, but not like a sudden $1.5B market buy would. The news is probably what pumped the price, since the kind of nerds who worship Musk and who might consider buying bitcoin have a lot of overlap I imagine.
I wonder how they will square the environmental impact of bitcoin. Isn't Tesla supposed to be a pretty green company?
Honestly, they will probably not acknowledge it at all.
Buying a Tesla nets you 100 coins and for every thousand miles driven you get another coin. The rate is doubled if you use autopilot, and tripled if you play a game on the center console at the same time.
Origin ID: Discgolfer27
Untappd ID: Discgolfer1981