New head of retirement and inheritance, @vandrewattycpa, explains his motivations for joining Unchained Capital in his latest blog post. Together, we can better bridge the gap between traditional financial & legal structures and self-sovereign bitcoin. unchained.com/blog/freeing-a…
Our ultimate guide to bitcoin retirement just got even more ultimate! We've updated and condensed the guide to account for the far more streamlined structure introduced by @vandrewattycpa. Check it out. unchained.com/blog/ultimate-…
I’m extremely excited to announce my new research publication, The Bitcoin Layer, on Substack. My mission: to educate the world about bitcoin and promote its usage for the betterment of humanity. Join me! thebitcoinlayer.substack.com…
Unchained Capital can now be found at unchained.com. That should make typing those URLs and emails a lot easier!
Lots more usability and design improvements are on the way soon, as we work to get more #bitcoin keys into more hands.
The secret sauce is understanding the flow of coins between bands.
Spending of old coins is instantaneous (e.g. 1y --> sub-24hr immediately)
Maturing of young coins takes time, equal to the lower age in each bracket
Thickness tell you his much accumulation happened in the past
Here’s a breakdown of how to use a @COLDCARDwallet in a #bitcoin multisig setup. Touching on:
Multisig wallet import (critical)
I'm coming from the 2-of-3 perspective w/ an Unchained Vault or Caravan, but it's pretty universal
I’ll be auctioning this beautiful “Bitcoin is Time” piece, inspired by the eponymous @dergigi’s article with @scarcedotcity. All the proceeds will be directed at further development of the Bitcoin Translated project.
\1 A bitcoin private key is "just a random 256-bit integer" so, in theory, any 256-bit integer can be a private key. In practice, this is a terrible idea!
Are there any bitcoin wallets which (attempt to) detect/reject private keys created by sources with low-entropy and/or bugs?
\2 bitcoind itself considers a private key=0 to be invalid b/c it trivially breaks the cryptosystem (since pubkey=g^privkey).
But bitcoind considers a private key=1 to be valid -- theres even a unit test asserting this!
Maybe a private key of 1 is useful for testing?
\3 AFAICT private keys such as 1, 2, 3, 10, 420, 1776, 2021 or 21000000 are all considered valid by bitcoind...even though the chances of such "special" numbers being output by a cryptographically-secure RNG are essentially zero!
\4 Perhaps end-users are insulated from "choosing special numbers" since they deal with seed phrases and wallet software.
But just as there are special integers, there are special seed phrases; `bacon` repeated 24 times is a valid seed seed phrase! (Thanks @mflaxman)
\5 And wallet software can be compromised by a bad RNG on a host platform. Bugs in RNGs can be difficult to detect but easy to exploit once detected, a deadly combo.
Should wallet software work harder to detect "too special" private keys or private keys sourced from bad RNGs?
\6 How would a wallet even detect a bad source RNG? There are deep issues of computational complexity and the nature of information lurking behind such simple questions.
I don't believe there are general ways to "verify randomness" but there are simple checks we can implement.
\7 When @unchainedcap built Hermit for example, we put in the following sanity-check: Hermit uses the minimum of the Shannon entropy & the zlib-compressed size in bits as a lower-bound on the "information" in a private key seed; too few bits and Hermit won't accept the seed data.
\8 Perhaps such checks are overengineering or maybe we should let those foolhardy enough to use insecure RNGs get hacked. I dunno.
But I do think that bitcoiners should apply their habit of verification to their own private keys and that wallet providers can help them do this.
Using your device to confirm multisig receive addresses shown on your browser
I'm going to be doing this every Friday going forward. Tweets on multisignature best practices. Here's why and how to confirm an address on your device for Caravan/Unchained Vaults:
1/ At Unchained, we're building for individuals and businesses storing long-term wealth in bitcoin. We expect our clients to be clients for life, and that informs how we build, how we structure our team, and how we focus our strategic investments.
We couldn't be more excited to have Jeff Vandrew of KeyKeeper IRA join our team as Head of Retirement & Inheritance. Jeff will be working with us to launch new services to meet the needs of long-term bitcoin holders. unchained-capital.com/blog/j…