684: You Ain't Ready For This Jelly

Boost just because it’s Wednesday!

Screw it! I’m blowing the whole boost budget on TWIB this week. Another newbie corner idea: what’s the difference between the different address/wallet types? I still use some “legacy” wallet addresses but some things I’ve read seem to suggest changing that. I find it confusing. From what I can tell there’s wrapped segwit, native segwit (which may or may not be the same as bech32, idk), and taproot. I found an article about switching to taproot on stacker news. It mentions that the others are more expensive and will continue getting more expensive over time, but I’d love to know why that is and if there’s ever a reason to choose one of the other options or if taproot really is the best, etc.

Finished the episode and feeling the need to send in extra value after that boost segment. I wanted to boost about newbie corner anyway. I would love a holiday special episode that goes over some of the logic behind your setup. What I wanted to ask you about, that I think could go with a holiday special, has to do with cold storage. I have a new cold card mk4 that I want to move my cold storage to, but I can’t decide how I want to balance backups and security. I’d be interested to hear how your thoughts change when thinking about individuals protecting their wealth as well as small business. Preferably, I’d like something that my wife could handle if me and the hardware wallet were to suddenly vanish. If something terrible like a house fire happened, and I didn’t make it, she could not access our money, the way it’s set up right now.

Hi Chris, I just started the episode but I forgot to boost last week so I wanted to fire some value back your way.

Just noticed I received errors on earlier boosts. I’ll boost extra later. No biggie.

On a different note, my nix-Bitcoin node is working out great! I love how intense the security defaults are. I even have it routing through a tiny linode! That was a challenge all by itself but we got there. Is the JB server Jupiter01? I enabled tor and stuff but kept getting connection errors when I tried to open a channel. I’m trying to do my part and provide some of that sweet sweet liquidity.

For some reason River’s KYC rejected me and wouldn’t let me try again for 30 days. I ended up just going with Swan and never tried again. I’ve never had a KYC issue with any other company, before or since, but I’d really rather be a River customer than a Swan customer right now.

Chris, your timing is hilarious. Despite nearly constant reminders from my wife, I put off dealing with old retirement accounts for TWO YEARS, and finally got around to it last week. I decided open 401k and Roth IRA accounts with Swan Bitcoin. I use Swan to DCA, so it was convenient, and it allowed me to put this money in Bitcoin without taking a big tax hit. I’d heard some of the drama, but didn’t think much of it until hearing this episode. I agree with your analysis though, all these little turd nuggets are adding up, and it’s starting to smell like a full-blown shitstorm. As I type this boost, I’m looking at two checks made out to a Ripple-owned crypto bank, per Swan’s instructions. I have to admit, I’m starting to have second thoughts.

Hi Chris, I really appreciate everything you do and the work you put into the show. I hope this value makes it a little more worth it for you. TWiB is one of the best bitcoin shows on the internet! Let’s get these numbers up, boys!

Got some extra overtime from the side gig. Figured I'd send it to my friends at the launch!

Great show as usual! Thanks for the value! Even if Bitcoin is flat for another quarter or two, TONS of great work has been happening. It just gives us plebs more time to DCA at these super low prices!

Hey Chris! Great show! Regarding the age vs gold standard stuff, I more or less agree with you, I just see it a little differently. Instead of time since 1971, I think of it as “time spent on a fiat system”: They blow up 100% of the time, so the longer one goes, the more messed up and prone to failure it is. Going off the gold standard allowed for more creative ways to keep the charade going. Also, consider the incentives of fiat. It basically incentivizes everyone to buy up all the resources as quickly as possible. The longer you hodl dollars, the less you get when you spend. Of course people are going to buy up and hoard all the scarce assets they can, it makes for better money than the money! We live in a clown world, I swear. 🤡 Keep the excellent Bitcoin content coming! I loved the bonus ep! I’d happily pay for bonus conent again. ❤️

Shoot. You got 500 more sats for my misfire. HERE is the row of ducks I promised. Last week I meant to say "Wisdom cuts. When it cuts Bitcoin, it reveals the Diamond." Love & Well Wishes for you and everyone here. 🫶

I can be wordy, Chris. Here's some ducks. Regarding the Cold Card hack, I wanted to say this: Wisdom cuts. When it cuts Bitcoin, it reveals the diamond.

I managed to avoid getting any funds stolen, but I still regenerated a bunch of wallets, and not just the CC, as a result of all this. Thanks to the inspiration from LUP, I decided to build an offline NixOS ISO with sparrow, and a custom script I wrote to generate seed phrases, using /dev/urandom. It worked like a charm, and I can be quite sure no one else creates wallets like I do. 😂 Thanks for the value!

I might be biased, considering I’ve “nix-ified” nearly every device in the house, but I’ll add a big +1 to nix-bitcoin. It’s been rock solid for me. I deployed it in a NixOS container a couple years ago, and I just did another major version update on it a couple nights ago. The update went super smooth, no issues. After a quick reboot, everything was back up, including the lightning channel with your node. Nix-Bitcoin is awesome!

Excellent episode, as usual! I think you’ve hit the nail on the head about BTC loans. I believe it’s going to be a massive market. I need one myself, actually. Last year, I had some cash set aside to buy a car and went to some dealerships, but right before I pulled the trigger, Uncle Sam hit my wife and I with a massive tax bill. It was our first full year living and working in WA, and I guess my wife wasn’t paying enough in taxes out of her paycheck. Wiped out my whole car fund. Luckily, I was listening to TWIB, and stacking sats. So, it didn’t hurt as bad as it could have, but now I need one of those BTC loans. I am highly interested in the subject either way, so thanks for covering these important topics!

PSA: There is NO mobile Sparrow wallet. If you see a mobile wallet with Sparrow branding it is a SCAM! Thanks for the value. Stay safe out there.

Love the bonus content! It was great seeing you guys at Linuxfest! Have a good LUP today!!

I connected Fountain to nostr with my own relay and all that and took the opportunity to change my name to better reflect who I am as a person. :P Before, I was boosting as ByteBandit. The name change seems to have changed my 100k boost to Anonymous, so I figured I’d boost back in with my new name. I’ll also send you a message on matrix as proof. In the last episode, you mentioned nix-Bitcoin, which I have been experimenting with for a while. I would love to see what you’ve got going on, if you’re able to share that config. If not, no worries. Either way, hit me some mac&cheese, please. ;)

Sadly most of my hobbies have fallen victim to hustle culture and have been integrated into current business operations or attempted to form new ones. And then of course once you start doing it for work it doesn't feel like much of a hobby anymore. I like what you said, Chris, about keeping Star Trek to yourself and not doing a show for it. I've gotta do that for my remaining hobbies! Luckily one that hustle doesn't really care for that I still have is yard sale-ing old tech. I always tell myself I'll do something with it, but then it just ends up sitting. 😆 Not great for my wallet, but it's still fun. And now I have all but one of the original steam machines sitting on my pile of laptops waiting to be put into my homelab and/or become emulation boxes! 😁

Speaking of robo vacs- we run 5 of them at the office that we control with home assistant. Sadly one of them has a death wish. Upstairs there is a mezzanine and the space between the railing and floor is barely small enough to block them in the event they accidentally miscalculate their position and go off-map. That didn't stop this guy tho- it managed to wedge it's way under the railing and fall. Luckily it chose the one spot that didn't have a 15 foot drop. Made for a fun picture in the morning. https://immich.djg.dev/s/robovacdeathwish Sadly it threw itself down the stairs a few days later, so we still had to replace it.

Sad for those who lost funds. Bitcoiners are resilient and take the lessons forward. I thought of multusig for inheritance or businesses and charities. Now I see why multisig multimethod multivendor and multiple wallets to mitigate any one loss matters. Multi all the things... Got it! Soverignty over money is personal power and comes with personal responsibility. NO shame for those who learned with their stacked sats. But we all take the wisdom from the pain. Wisdom cuts. When it cuts Bitcoin, it reveals the diamond.

Hi Chris. My name is Tim. But you may remember me as Sir Lurksalot. You have been a great inspiration for me. Love Down Babylon is the name of my own V4V podcast, which I will be releasing soon. Babylon as in the ancient city where the Jews were held captive. Ras Tafarians use Babylon to mean the dominant culture of control and separation. The ills of our modern dystopia. The prison of mental slavery. The Matrix. My podcast is an attempt to share my journey out of my own mental slavery and into healing, love, and peace. And a trust-fall into the love-based V4V economy and out of the fear-based Matrix economy. I don't have answers for everyone. But I have hope. I want to share what works for me to help uplift and empower others to find their own way out. You don't fight war with war, hate with hate, or conflict with conflict. I am warrior for love, of love, and I am bringing all of my love. Not to the war. For the healing.

You know what the most valuable asset you have or ever will have is? Your time. It is the hardest money that ever was or will be. You are guaranteed to have a finite amount. Tomorrow is not guaranteed. And you have no way to know your balance. Attention is how we spend it. I find you, Chris, and TWiB and The Bitcoin Dad and so many Jupiter shows over the years have brought me so much value for my time. I have drastically reduced consumption across the board. TWiB is one of the very few shows I spend any of my precious time on, and will likely be one of the very last to go. Thanks for being you, and for all you do Chris.

Boosty McTest Boost. Grass fed beef patties, special sauce, lettuce, cheese, pickles, onions on a Satoshi-seed bun. - Some dude who lurks a lot

I stream sats to you and am happy to even tho I'm close to broke w/o current income. I'm being a bad hodlr with my few sats. But I believe in the value 4 value ideals. So when I have a mid-sentence advertisement blurt in, I don't want to pay AND be forced to listen to an intrusive ad. I find the experience extremely rude. Who do you want to serve? Your listeners, or your adverting partners? If it's not for me, I will mosey the eff on. Think about it from the other side of this energetic exchange. I don't fault you for having sponsors. But you could use a delivery pipeline that didn't feel so inconsiderate of my kind attention. Foodfor thought. Be well.