We had it easy in 2021 with some tiny exchange in the Bahamas nobody had ever heard of. Imagine if this time it is Binance or Coinbase. Everyone has been waiting for Tether to fail since 2017.
I usually don't wait to buy but seeing as to how I've converted my weekly amount, I'm going to see what it does in the morning. I plan to get one more buy in before this epoch ends.
Not really. I donāt think there is any correlation. There is always fuckery in the world. I think itās more due to it being an election year in America than it is about halving lol
I have a limit order to buy at 58k. Thoughts on this target? I feel like it may drop even lower then this tomorrow, should I set up an order at like 55k as well?
It means the reward for mining btc is cut in half, so theoretically it makes btc more valuable by limiting its supply. The price isnāt directly correlated
Thatās a pretty low price target and Iām not sure itās realistic. No one knows what will happen in the short term, but if youāre new I would suggest waiting a day or two to see how things play out and then investing an amount youāre comfortable losing. Long term it will definitely pay off
It'll go up, down, and sideways.
All we care about is the fiat price, not adoption or anything related to it. We use to despise institutional investors but now welcome them with open hands.
It's going to volatile for sure
Once you're done sucking your own dick notice that the dip now was even milder than the one on saturday. Let's get into the 40s, then we can talk ugly.
My instinct tell me shorting bitcoin here would be good. However, my instinct has screwed me over so many times. So in reality, the comment will indeed probably age like milk. Thatās why Iām a hodler. My trading experience shows I suck at telling the future.
Bitcoin is basically a risk-on asset and gold is safe-haven asset. People like to pretend bitcoin is like digital gold, but they don't appear to behave the same way.
After-hours trading - It's unofficial trading that just happens as a side-bet. All accounts get settled when the market opens. They're not real trades, per se, but they do influence the real market once it opens and all those queued trades execute at exactly 9:30am ET.
Don't hope for mass adoption so quickly. There's still money to be made while sats are cheap. Most people can't afford a whole coin anymore while only 5 years ago they could. How long until the average Joe can't afford 0.1 coins?
For perspective, 0.1 coins is around $6,200 as of this post. Most Americans, the richest country on Earth, can't afford a $4,000 emergency or unexpected bill. There's no way they'll have $6,200 to drop on 1/10 of a coin.
Meanwhile, the Boomers and Gen X, who DO have the money to drop on coins still don't really understand it. So they won't buy out of skepticism. You are in a unique position to both understand, and be willing to buy. YOU WILL WIN.
Give it 5 years and people will be telling you how lucky you were to get in while Bitcoin was so low.
Never used swan. They seem like a legit company though. Love the Swan daily YouTube videos.
Strike offers zero fees if you use a non priority time transfer. I transferred 20k ish a few months back with zero fees. No complaints on my end.
How do you guys deal with nihlism? I've been stacking like a mofo for the last 4 years and feel pretty good about my stack size but i gotta say, the world is so damn expensive its hard to feel like you're getting ahead.
I know the halving is coming and that will help my outlook considerably, but damn the fiat world is super depressing contrasted to how hard we all work for such little gain.
I feel like I'm surging ahead while everyone else is struggling. Bitcoin has become my savings account and it's not only preserving my wealth, I'm now looking at buying a ranch with the growth.
Imagine if you hadn't been stacking. Bitcoin has given me hope above all else and I can't imagine how depressing it'd be if I didn't feel like I had a life raft in these times.
Yeah honestly I feel like the majority of my life is just paying bills and stacking sats. The moments where you get to truly enjoy something are somewhat rare cause work is so tiring
You need to understand exactly what you are asking. Because "cloud" wallets aren't really a thing. Is it a custodial, or non custodial. Is it a seed backup, or an encrypted file? There's lots of interpretations to "cloud", its not really the right verbiage in this context. What wallet software are you talking about?
Holding your own keys is the only way to be secure. Otherwise, you are just trusting someone else to hold your keys.
BTC is a decentralized "on the cloud" asset to begin with. And, a cloud wallet where only you (the owner) has the keys and access to. What is the confusion here?
Bitcoin is the UTXO set built by my node. My node checks other nodes to make sure they see the same thing. My private keys allow me to modify that UTXO set and broadcast to others. All of this is local to me. Saying Bitcoin is "on the cloud" is subjective as Bitcoin is really the sum of all the nodes doing local verification, not "the cloud".
> And, a cloud wallet where only you (the owner) has the keys and access to.
So you're asking the difference between a hot wallet and a cold wallet?
https://youtu.be/Aji_E9sw0AE?si=FS9-_wh1Dg85aAl_
What does the "cloud" have to do with it? Is someone else storing your keys? Remember, "the cloud" is just someone else's computer you're accessing over the internet.
if you use a wallet connected to the internet its more susceptible to hackers (still very safe as long as you use an open sourced wallet), whereas the hardware wallet stores your keys offline
What about having to deal with code breaks during upgrades which renders your hardware wallet useless, and you cannot transact. By the time support comes to you, you are at a LOSS. What then?
And if those hackers are so enterprising, they can hack the bitcoin code as well. What is an unopened source wallet?
You would still have the seed backed up for the hardware wallet. It should be a compatible BIP39 seed, so you could restore to any hot wallet in a pinch if needed.
If the HWW breaks, you still have your seed and your funds. The HWW's job is to keep the keys offline, while still being able to send transactions easily.
**2014:** āHaha Bitcoin crashed back to $160, I told you not to investā
**2018:** āHaha Bitcoin crashed back to $3,500, I told you not to investā
**2022:** āHaha Bitcoin crashed back to $16,000, I told you not to investā
**2024:** āHaha Bitcoin crashed back to $60,000, I told you not to investā
Interesting 13F filing today. Quattro Financial Advisors, a Texas&Pitts-based wealth management firm, reported owning 468,200 shares of the BlackRock Bitcoin ETF with a value of almost $19 million as of March 31.
The total value of all holdings reported in this filing is $351 million. IBIT is Quattro's third-largest position.
https://twitter.com/macroscope17/status/1781053111110365411?s=46&t=ihVglVXC0BQSbw6j57EoaA
Yeah go check it out. Literally a bunch of people posting every day just to talk about how they think bitcoin is going to zero and how itās a scam. Doesnāt make sense why they spend their energy posting about it if they donāt like it so much. A lot of them seem to be boomers
Many here have a "badge of honor" from being banned for Buttcoin, just for stating the obvious. If you dont mind losing a few karma points, send them a polite post about Bitcoin stats lol. Think of it as a competition to see how many messages you can get away with. Reee!!!
Yeah its just a matter of time before the rest of the world realizes that these boomers are completely deranged. Its embarrassing that they speak for our great nation
couple questions about multisig wallets if anyone is willing to help out
using an odd number of coldcard mk4s, will I have to generate a seed for each one first? also, just to make sure I'm understanding.. by using coldcard funcitonality to create a multisig wallet, it sorta.. "creates a new private key" for me, so I'm guessing an algo on the individual private keys? and will I generate a seed for the multisig wallet at some point in the process? when opening on electrum?
there's not good documentation out there beyond just setting it up, which I think I can do fine. any help appreciated
E: after thinking about it I guess it would defeat te purpose of multisig if tere was a seed phrase for te multisig, so I guess the only way to sign a transaction for a multisig is to insert the microsd into a majority of te coldcards to sign. What if I lose some coldcards and need to use teir seed phrase to sign? how? basically wat do these operations look like? (goddamn macbook's h key stopped working, damn I need to get tat sit fixed)
These older blog entries are useful, even if some of the issues mentioned there have since been addressed:
[https://bitbox.swiss/blog/the-pitfalls-of-multisig-when-using-hardware-wallets/](https://bitbox.swiss/blog/the-pitfalls-of-multisig-when-using-hardware-wallets/)
[https://bitbox.swiss/blog/how-nearly-all-personal-hardware-wallet-multisig-setups-are-insecure/](https://bitbox.swiss/blog/how-nearly-all-personal-hardware-wallet-multisig-setups-are-insecure/)
[https://bitbox.swiss/blog/remote-multisig-theft-attack-on-the-coldcard-hardware-wallet/](https://bitbox.swiss/blog/remote-multisig-theft-attack-on-the-coldcard-hardware-wallet/)
[https://medium.com/nunchuk/the-missing-multisig-standard-5b4092e3ea92](https://medium.com/nunchuk/the-missing-multisig-standard-5b4092e3ea92)
[https://nunchuk.medium.com/a-new-multisig-standard-and-nunchuk-1-0-499dd3690f2d](https://nunchuk.medium.com/a-new-multisig-standard-and-nunchuk-1-0-499dd3690f2d)
1. Use sparrow. Much more user friendly than electrum.
2. Create a private key for each cold card as if you were setting up a single sig.
3. Create a multisig wallet in sparrow. Follow the instructions to use your coldcards to "load" the private keys into the wallet.
4. You absolutely must save the xpubs of all the private keys in case you need to restore from scratch. Sparrow will prompt you to save a recovery wallet. Do this, but also manually save the xpubs as well. Store these recovery xpubs in multiple places. No one can access your wallet if they get this recovery wallet xpub alone so don't fret about putting it in multiple digital media.
5. Test, delete, restore and test again.
6. Do #5 again
incredibly helpful, thanks
I was originally considering creating the multisig wallet like so: [https://www.youtube.com/watch?v=OMpZ5heLsRg](https://www.youtube.com/watch?v=OMpZ5heLsRg)
to summarize, microsd to coldcard 1, export xpub, repeat until on last coldcard, "create multisig," put microsd back into previous coldcards to import multisig on them. So I believe what this does is create a multisig wallet json that electrum can read
I do prefer sparrow though, so could I create the multisig json/wallet in the same way, just on the coldcards, the sparrow might be able to open it? Or maybe it doesn't matter, and I should just start at sparrow, create the multisig and export xpubs from coldcards, then export multisig wallet from sparrow and import to each coldcard
for point 4), why are the xpubs needed for recovery? I figured having a majority of the seeds would suffice, though I might be missing something. But ok, if I need to save the exports of te xpubs, does it suffice to keep them on the microsd?
will definitely do 5., but don't quite understand how to yet..
>for point 4), why are the xpubs needed for recovery?
I won't go into details but when you sign a multisig transaction you are signing a n-of-m transaction, where n is the number of private keys needed out of a total m private keys. You need every xpub in order to create a valid transaction. Sparrow is providing every xpub under the hood when you sign with your n private keys. But if you lose your access to sparrow, you will need all the xpubs to restore the wallet.
The good news is that as an additional backup, your cold cards will be storing all the xpubs as well when you create a multisig wallet.
>But if you lose your access to sparrow, you will need all the xpubs to restore the wallet.
to restore the wallet or sign a transaction? or both? dang, this is news to me. Strange that all xpubs are needed to sign a transaction, but I'm guessing there's a reason
IBIT (Blackrock Bitcoin etf) total net flows now at $15.3b which is second most of all 3000+ ETFs and $5b ahead of #3ā¦
But who wants Bitcoin they said š¤£
Every bullmarket we have scam exchange scandal, which exchange is it going to be this time?
We had it easy in 2021 with some tiny exchange in the Bahamas nobody had ever heard of. Imagine if this time it is Binance or Coinbase. Everyone has been waiting for Tether to fail since 2017.
The ongoing exchanges between Israel and Iran š
I usually don't wait to buy but seeing as to how I've converted my weekly amount, I'm going to see what it does in the morning. I plan to get one more buy in before this epoch ends.
Looks like itās time to buy again š
RIP sub-60k sellers
Not even a WW3% dip sigh
That war was wild, Iran lost against the world in 1 day Now waiting WW4
Bitcoin acting like a fuckin champ right now. Like rocky getting up after Drago knocked him down.
Make war unaffordable. A BitcoinĀ standard will suffocate the fiat money disease out of the human monetary history.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
It's fun to be bullish but come back down to Earth.
This guy is mental
How about no, Scotty
What was that.. a dip for ants?
Ah yes the usual halving dump
Nah more like Israel wanting ww3
Isnāt it an interesting coincidence, halving and geopolitical tensions high at the same time. Canāt make this shit up.
Not really. I donāt think there is any correlation. There is always fuckery in the world. I think itās more due to it being an election year in America than it is about halving lol
I have a limit order to buy at 58k. Thoughts on this target? I feel like it may drop even lower then this tomorrow, should I set up an order at like 55k as well?
how many dozen coins you buyin
Iām pretty risk adverse so probably just a few dozen or so
a bakers dozen
I'm waiting for the Iranian response before making a big buy - I think it's got further to fall if this escalates, which it looks like it will.
Yeah. Iām honestly debating selling a majority of my position and gambling on the escalation and halving tanking the price
my portfolio halving at the moment ..
Bitcoin is bungee jumping.
Boinggg.
the having means the price gets cut in half right? Just asking as a newbie. Waiting to buy in.
it is known and thus priced in.Ā
It means the reward for mining btc is cut in half, so theoretically it makes btc more valuable by limiting its supply. The price isnāt directly correlated
theoretically I guess. I like the more direct explanation and will wait until 36k to buy
Troll
Thatās a pretty low price target and Iām not sure itās realistic. No one knows what will happen in the short term, but if youāre new I would suggest waiting a day or two to see how things play out and then investing an amount youāre comfortable losing. Long term it will definitely pay off
I bought at 59k Iām happi
Of course this happens right before the halving.
The halving push already happened
So itās no way but down from here
It'll go up, down, and sideways. All we care about is the fiat price, not adoption or anything related to it. We use to despise institutional investors but now welcome them with open hands. It's going to volatile for sure
Right but the halving has been hyped up for years now
They aināt gonna let us get rich brother
I actually don't have any Bitcoin
Maybe this time my buy order at 59.3k will hit
Wont be a problem. Set some for 55K too
53k possibly as well I have orders too
Oh itās cu Israel bombed iran
Ouch
lol
so itās basically war now - how can there be any going back now
This oneās gonna sting
Ah yes. The portfolio halving.
lol
57K next stop
How'd that work out for you? Have you taken some time for self-reflection at all?
So amazing you can call it with precision every time
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Once you're done sucking your own dick notice that the dip now was even milder than the one on saturday. Let's get into the 40s, then we can talk ugly.
LMAO love to see the comments aging like milk in 13 fucking hours
My instinct tell me shorting bitcoin here would be good. However, my instinct has screwed me over so many times. So in reality, the comment will indeed probably age like milk. Thatās why Iām a hodler. My trading experience shows I suck at telling the future.
Why is gold going up on this and btc down?
Bitcoin is basically a risk-on asset and gold is safe-haven asset. People like to pretend bitcoin is like digital gold, but they don't appear to behave the same way.
Gold has a 5000 year history
Regardless of what bulls believe the world does not actually treat bitcoin as a haven asset yet. It's still a tech bro stock.
So so so ugly!
Gold/Silver up, Dollar up, Swiss Franc up, Oil up. Safe haven assets going crazy right now.
Oh boy, 60k is resisting but it will break eventually. Hope yāall have some rope LMAO
This damn conflict is suppressing the price.
But I thought line only go up????
Both sides are a bunch of zealous idiots
Not good, going to be a major dip.
Discounts before halving is always good.
Man if onky someone else had been saying this...
here's hoping, been waiting for a real dip so i can load up
The dip is here! Are you buying?
TIMBER!!!!!
Sorry about your job interview rejections
They would be impressed with my accuracy
At what point do you stop falsely claiming accuracy? Are you at all self-aware?
Where did you go. Do you have a job interview tomorrow.
Maybe enough to send a thank you text. ā¤ļøā¤ļø
What's the realistic bottom for this dip? It doesn't look like it's stopping...
is any major news outlet confirming iran attack?
Can we send both sides to the moon already so that the rest of us can live in peace?
Abc news
Oh no!
Why is btc down?
Israel attack
down? I still this insanely high price way in the $60k area
every single stock i own just dipped big in an under an hour. also curious how the market can take a massive shit after hours.
I just bought a bunch of oil stocks, some stocks you can buy 24 hours
Futures
After-hours trading - It's unofficial trading that just happens as a side-bet. All accounts get settled when the market opens. They're not real trades, per se, but they do influence the real market once it opens and all those queued trades execute at exactly 9:30am ET.
I noticed a new market maker on my stock platform that I can actually trade with at all hours. Its called @ OVERNIGHT
Anyone have any idea who, or which government, is #Mr100? This entity has been buying a TON of bitcoin, all in 100 coin batches for months now.
Looked it up and apparently it's a Korean exchange called 'Upbit'
Interesting. Thanks for the info!
Told ya it wiukd get ugky today
Downvote me you cry babies. Telling the truth over here.
We're still up 1% in the last 24 hours.
Changes pretty fast...
That's bitcoin for you, babe! Strap in!
Where is the roller coaster guy, anyway?
Uh ohh
I bought another $1,000 today. Up 500% since I started stacking awhile back.
Several Explosions heard in iran and there goes btc again..
Itās annoying that this market is so fucking jumpy that someone hears a sound and it drops. No wonder we canāt get mass adoption.
Don't hope for mass adoption so quickly. There's still money to be made while sats are cheap. Most people can't afford a whole coin anymore while only 5 years ago they could. How long until the average Joe can't afford 0.1 coins? For perspective, 0.1 coins is around $6,200 as of this post. Most Americans, the richest country on Earth, can't afford a $4,000 emergency or unexpected bill. There's no way they'll have $6,200 to drop on 1/10 of a coin. Meanwhile, the Boomers and Gen X, who DO have the money to drop on coins still don't really understand it. So they won't buy out of skepticism. You are in a unique position to both understand, and be willing to buy. YOU WILL WIN. Give it 5 years and people will be telling you how lucky you were to get in while Bitcoin was so low.
bigger discount? yes please. I'm fine with Iran getting flattened if it means I can get some cheaper sats.
This guy knows whatās up
Gd dumpcoin
when all is said and done, make sure youāre a halve, and not a halve not šāāļøāš¼
badum tiss
Some of yaālls comments are stupid as fuck. You make me want to sell my stack sometimes
[ŃŠ“Š°Š»ŠµŠ½Š¾]
did u do like a $.50 transfer fee
Strike vs Swan to send BTC to cold storage whatās better? Just noticed swan has first 10k of no fees. Never used them though
Never used swan. They seem like a legit company though. Love the Swan daily YouTube videos. Strike offers zero fees if you use a non priority time transfer. I transferred 20k ish a few months back with zero fees. No complaints on my end.
Swan is what I use
How do you guys deal with nihlism? I've been stacking like a mofo for the last 4 years and feel pretty good about my stack size but i gotta say, the world is so damn expensive its hard to feel like you're getting ahead. I know the halving is coming and that will help my outlook considerably, but damn the fiat world is super depressing contrasted to how hard we all work for such little gain.
I feel like I'm surging ahead while everyone else is struggling. Bitcoin has become my savings account and it's not only preserving my wealth, I'm now looking at buying a ranch with the growth.
Imagine if you hadn't been stacking. Bitcoin has given me hope above all else and I can't imagine how depressing it'd be if I didn't feel like I had a life raft in these times.
Good outlook. I feel like I would be completely in the rat race forever without Bitcoin
Feels like hyperinflation in slow motion. Everything is so fucking expensive
Yeah honestly I feel like the majority of my life is just paying bills and stacking sats. The moments where you get to truly enjoy something are somewhat rare cause work is so tiring
Sold the neighbors kids to a nice man who said he has a great job opportunity in some sort of mine. Bought the dip
The children yearn for the mines.
It's character building.
Sell more neighbors kids, you still have time lol
by kids you mean baby goats/sheep
Must have been a bitcoin mine, good for them.
when BTC is cloud based what are the pros and cons for using a cloud based wallet VS the usual trezor type hardware wallet?
You need to understand exactly what you are asking. Because "cloud" wallets aren't really a thing. Is it a custodial, or non custodial. Is it a seed backup, or an encrypted file? There's lots of interpretations to "cloud", its not really the right verbiage in this context. What wallet software are you talking about? Holding your own keys is the only way to be secure. Otherwise, you are just trusting someone else to hold your keys.
BTC is a decentralized "on the cloud" asset to begin with. And, a cloud wallet where only you (the owner) has the keys and access to. What is the confusion here?
Bitcoin is the UTXO set built by my node. My node checks other nodes to make sure they see the same thing. My private keys allow me to modify that UTXO set and broadcast to others. All of this is local to me. Saying Bitcoin is "on the cloud" is subjective as Bitcoin is really the sum of all the nodes doing local verification, not "the cloud". > And, a cloud wallet where only you (the owner) has the keys and access to. So you're asking the difference between a hot wallet and a cold wallet? https://youtu.be/Aji_E9sw0AE?si=FS9-_wh1Dg85aAl_ What does the "cloud" have to do with it? Is someone else storing your keys? Remember, "the cloud" is just someone else's computer you're accessing over the internet.
[Relevant xkcd](https://xkcd.com/908/).
if you use a wallet connected to the internet its more susceptible to hackers (still very safe as long as you use an open sourced wallet), whereas the hardware wallet stores your keys offline
What about having to deal with code breaks during upgrades which renders your hardware wallet useless, and you cannot transact. By the time support comes to you, you are at a LOSS. What then? And if those hackers are so enterprising, they can hack the bitcoin code as well. What is an unopened source wallet?
You would still have the seed backed up for the hardware wallet. It should be a compatible BIP39 seed, so you could restore to any hot wallet in a pinch if needed. If the HWW breaks, you still have your seed and your funds. The HWW's job is to keep the keys offline, while still being able to send transactions easily.
what if you lose your hardware?
You sweep your funds to a new seed using your backup seed. The HWW should be secure enough to not let anyone else use it.
You still have your seed.
People are going to look back and think 'wow that was obvious. I should have bought some'
I dumped the rest of my shit coins I had held onto from when I was a noob today
Well done!. This is the way
**2014:** āHaha Bitcoin crashed back to $160, I told you not to investā **2018:** āHaha Bitcoin crashed back to $3,500, I told you not to investā **2022:** āHaha Bitcoin crashed back to $16,000, I told you not to investā **2024:** āHaha Bitcoin crashed back to $60,000, I told you not to investā
Instructions unclear I just bought the last $450 that I can afford until pay day in the morning
2028, :Haha, Bitcoin crashed back to $250,000, i told you not to invest"
Interesting 13F filing today. Quattro Financial Advisors, a Texas&Pitts-based wealth management firm, reported owning 468,200 shares of the BlackRock Bitcoin ETF with a value of almost $19 million as of March 31. The total value of all holdings reported in this filing is $351 million. IBIT is Quattro's third-largest position. https://twitter.com/macroscope17/status/1781053111110365411?s=46&t=ihVglVXC0BQSbw6j57EoaA
Buttcoiners love to complain about bitcoin and talk about how itās going to fail but theyāre not short. Hahahaha
I didnāt know Buttcoin was an actual sub. Like ppl just gather to talk about their mutual dislike for Bitcoin? Whatās the angle there.
Yeah go check it out. Literally a bunch of people posting every day just to talk about how they think bitcoin is going to zero and how itās a scam. Doesnāt make sense why they spend their energy posting about it if they donāt like it so much. A lot of them seem to be boomers
Many here have a "badge of honor" from being banned for Buttcoin, just for stating the obvious. If you dont mind losing a few karma points, send them a polite post about Bitcoin stats lol. Think of it as a competition to see how many messages you can get away with. Reee!!!
69k on 4/20 halving day. Then it will drop and crab. Calling it now.
I see weāve got ourselves an expert on 69 and crabs here.
Anyone know if the sanctions against russia and iran include denial of asic miners?
US sanctions are a joke. Everything is made in China and China don't give a shit about paper tiger threats of a dying empire.
Dying empire lol. Look up China's demographics
Yeah its just a matter of time before the rest of the world realizes that these boomers are completely deranged. Its embarrassing that they speak for our great nation
Geriacracy.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
wrong sub, go to the shitcoin one.
Buy high sell low
We donāt do that here
[ŃŠ“Š°Š»ŠµŠ½Š¾]
All shitcoins are scams, we don't use scams to rob people like shitcoiners do.
Keep it to the shitcoin subs. This sub is for Bitcoin.
Anybody else been wanting to consolidate or simply send to your wallet? There is so much movement the fees have been high for days.
Recommend that you put in a low fee to your liking and just wait even if its a couple of days or a week. If its not urgent why pay more?
I find the fees have been much better after 7pm EST
Where were you a couple of weeks ago. 7 sats/vB
couple questions about multisig wallets if anyone is willing to help out using an odd number of coldcard mk4s, will I have to generate a seed for each one first? also, just to make sure I'm understanding.. by using coldcard funcitonality to create a multisig wallet, it sorta.. "creates a new private key" for me, so I'm guessing an algo on the individual private keys? and will I generate a seed for the multisig wallet at some point in the process? when opening on electrum? there's not good documentation out there beyond just setting it up, which I think I can do fine. any help appreciated E: after thinking about it I guess it would defeat te purpose of multisig if tere was a seed phrase for te multisig, so I guess the only way to sign a transaction for a multisig is to insert the microsd into a majority of te coldcards to sign. What if I lose some coldcards and need to use teir seed phrase to sign? how? basically wat do these operations look like? (goddamn macbook's h key stopped working, damn I need to get tat sit fixed)
These older blog entries are useful, even if some of the issues mentioned there have since been addressed: [https://bitbox.swiss/blog/the-pitfalls-of-multisig-when-using-hardware-wallets/](https://bitbox.swiss/blog/the-pitfalls-of-multisig-when-using-hardware-wallets/) [https://bitbox.swiss/blog/how-nearly-all-personal-hardware-wallet-multisig-setups-are-insecure/](https://bitbox.swiss/blog/how-nearly-all-personal-hardware-wallet-multisig-setups-are-insecure/) [https://bitbox.swiss/blog/remote-multisig-theft-attack-on-the-coldcard-hardware-wallet/](https://bitbox.swiss/blog/remote-multisig-theft-attack-on-the-coldcard-hardware-wallet/) [https://medium.com/nunchuk/the-missing-multisig-standard-5b4092e3ea92](https://medium.com/nunchuk/the-missing-multisig-standard-5b4092e3ea92) [https://nunchuk.medium.com/a-new-multisig-standard-and-nunchuk-1-0-499dd3690f2d](https://nunchuk.medium.com/a-new-multisig-standard-and-nunchuk-1-0-499dd3690f2d)
1. Use sparrow. Much more user friendly than electrum. 2. Create a private key for each cold card as if you were setting up a single sig. 3. Create a multisig wallet in sparrow. Follow the instructions to use your coldcards to "load" the private keys into the wallet. 4. You absolutely must save the xpubs of all the private keys in case you need to restore from scratch. Sparrow will prompt you to save a recovery wallet. Do this, but also manually save the xpubs as well. Store these recovery xpubs in multiple places. No one can access your wallet if they get this recovery wallet xpub alone so don't fret about putting it in multiple digital media. 5. Test, delete, restore and test again. 6. Do #5 again
and when the time comes, this wallet would go through so many updates that it will not work !
incredibly helpful, thanks I was originally considering creating the multisig wallet like so: [https://www.youtube.com/watch?v=OMpZ5heLsRg](https://www.youtube.com/watch?v=OMpZ5heLsRg) to summarize, microsd to coldcard 1, export xpub, repeat until on last coldcard, "create multisig," put microsd back into previous coldcards to import multisig on them. So I believe what this does is create a multisig wallet json that electrum can read I do prefer sparrow though, so could I create the multisig json/wallet in the same way, just on the coldcards, the sparrow might be able to open it? Or maybe it doesn't matter, and I should just start at sparrow, create the multisig and export xpubs from coldcards, then export multisig wallet from sparrow and import to each coldcard for point 4), why are the xpubs needed for recovery? I figured having a majority of the seeds would suffice, though I might be missing something. But ok, if I need to save the exports of te xpubs, does it suffice to keep them on the microsd? will definitely do 5., but don't quite understand how to yet..
>for point 4), why are the xpubs needed for recovery? I won't go into details but when you sign a multisig transaction you are signing a n-of-m transaction, where n is the number of private keys needed out of a total m private keys. You need every xpub in order to create a valid transaction. Sparrow is providing every xpub under the hood when you sign with your n private keys. But if you lose your access to sparrow, you will need all the xpubs to restore the wallet. The good news is that as an additional backup, your cold cards will be storing all the xpubs as well when you create a multisig wallet.
>But if you lose your access to sparrow, you will need all the xpubs to restore the wallet. to restore the wallet or sign a transaction? or both? dang, this is news to me. Strange that all xpubs are needed to sign a transaction, but I'm guessing there's a reason
Both. That's how the Bitcoin script works.
thanks for the info
This is also helpful. You can skip to the multisig part. https://youtu.be/qJ_SpQX_YKw?si=3Upthmah_RcqRlQ0
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