r/Bitcoin: self-custody sentiment after the COLDCARD incident
reddit-not-your-keys-not-your-coins
https://www.reddit.com/r/Bitcoin/comments/1vfak2k/not_your_keys_not_your_coins/
Latest reviewed change
source content difference between and
A one-line bullish comment was removed from the thread.
body:
Svb and lehman are banks that went tits up. If an exchange went tits up (i.e. all their coins got stolen) you won't see a reimbursement either, no matter what their policy is.
-comment: p1ob81j
-parent: t3_1vfak2k
-author: Just_Bluebird_5268
-created_utc: 1785859749
-edited: false
First lines only. The complete diff is in the timeline below.
- Organisation
- Evidence role
- Community discussion
- Published
- not established
- Source changes
- 22
- Detected differences
- 22
- Unreviewed
- 0
- Copies held
- 23
Every check is recorded, including checks that found no text change. A detected edit is therefore bounded between two checks. The publisher's exact save time is not observable from this record. Last checked .
Also held inside a captured conversation
This post is held twice: here, with this project's own note on why it matters, and again as part of the conversation captured at , which is polled for changes. Both copies are the same post; neither is a separate event.
Public privacy boundary
Snapshot and diff bodies for this chain monitor are held in the local evidence archive but withheld from the public site because they can contain the addresses of people who published nothing themselves. Capture times and reviewed change summaries remain available below.
Held captures
-
A one-line bullish comment was removed from the thread.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
body: Svb and lehman are banks that went tits up. If an exchange went tits up (i.e. all their coins got stolen) you won't see a reimbursement either, no matter what their policy is. -comment: p1ob81j -parent: t3_1vfak2k -author: Just_Bluebird_5268 -created_utc: 1785859749 -edited: false -body: -It's the future of money - comment: p1obi5k parent: t1_p1nz6f7 author: AvailableTie6834Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
Two comments by Nick700 now show as [deleted] with author [deleted], and two new comments by puck2 appeared, one listing mainstream custodial on-ramps and one asking whether 256-bit entropy could be attacked by a superintelligent AI.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 24 lines
comment: p1pum56 parent: t1_p1plxvu -author: Nick700 +author: [deleted] created_utc: 1785873698 edited: false body: -Yeah they aren't at risk of 100% of their funds disappearing but in less than 10 years 25% of their value has been siphoned away +[deleted] comment: p1px9q0 parent: t1_p1po2bg comment: p1q62u3 parent: t1_p1q3kyo -author: Nick700 +author: [deleted] created_utc: 1785876742 edited: false body: -Unfortunate for those who gambled their emergency fund on BTC otherwise who cares BTC/USD is up 1300% in that same timeframe USD inflated 25% +[deleted] comment: p1qcs6z parent: t1_p1pnd0i So what are people to do? I don't have any answers. +comment: p26kncc +parent: t1_p1tniak +author: puck2 +created_utc: 1786067330 +edited: false +body: +mainstream adoption can do the other things (coinbase, ETF, robinhood, cashapp, etrade, fidelity, circle, etc) + +comment: p26l4xc +parent: t1_p1u3uqn +author: puck2 +created_utc: 1786067491 +edited: false +body: +is that a 256 bits of entropy able to be hacked by a superintelligent AI?? + more-stub: parent t1_p1v7iiv count <live-count> more-stub: parent t1_p1u76ef count <live-count>Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
Three new comments in the liability thread: BigDik6355 arguing bitcoin uniquely has no counterparty liability, Time_Jump8047 citing the DFPI settlement that Yotta falsely claimed FDIC coverage, and roconnor (edited) explaining the Evolve Bank and Synapse commingling failure behind the Yotta losses.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 34 lines
body: Please tell us all how BTC has NO liability, use that thing between your ears for something other than a hat rack! +comment: p202aro +parent: t1_p1z0yzl +author: BigDik6355 +created_utc: 1785992774 +edited: false +body: +It has no liability if you do it well. It is the only asset in the world with that property. Houses do not, Gold does not. Nothing else does. With Bitcoin, it is all on you. + +I’ll send you my hatrack so you can figure that out for yourself as well. + +comment: p216hsp +parent: t1_p1vel0j +author: Time_Jump8047 +created_utc: 1786012035 +edited: false +body: +Any particular reason you left this part out? + +“The [California Department of Financial Protection and Innovation](https://en.wikipedia.org/wiki/California_Department_of_Financial_Protection_and_Innovation) (DFPI) settled with Yotta in May 2026, having determined that Yotta falsely claimed that its accounts were covered by FDIC insurance, when they were not. The DFPI announced that Yotta must pay a $1 million penalty "for engaging in deceptive acts or practices." Under a [consent order](https://en.wikipedia.org/wiki/Consent_order), the DFPI mandated that Yotta inform its California depositors about how to obtain relief from the [Consumer Financial Protection Bureau](https://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau)'s Civil Penalty Fund” + +Seems like these accounts were not FDIC insured + +comment: p22ltc6 +parent: t1_p216hsp +author: roconnor +created_utc: 1786028213 +edited: 1786029080 +body: +Yotta advertised the funds were held in FDIC insured accounts, which is both true and also deceptive. The funds were held by various banks such as Evolve Bank & Trust, and those accounts are FDIC insured against Evolve's failure. But Evolved didn't fail, and since the funds were commingled with other depositor's funds, when Synapse failed, the connection between the funds in Evolve deposit and the customer's accounts was lost. + +The larger point is that here we again have a story of people doing everything right: Depositing money in an institution, peddled by influencers, that said they were holding money in FDIC insured accounts, and then they lost all their savings. + +So what are people to do? I don't have any answers. + more-stub: parent t1_p1v7iiv count <live-count> more-stub: parent t1_p1u76ef count <live-count>Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
A prior comment about Bitcoin Core was removed, and the thread gained comments questioning Bitcoin’s mass-adoption use and disputing a claim about liability.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 26 lines
body: in less than 1 year 50% of btc value has been siphoned away -comment: p1q3mdf -parent: t3_1vfak2k -author: foamingdogfever -created_utc: 1785876090 -edited: false -body: -I use the Bitcoin Core client. The way I see it, if the keys generated by that are ever cracked, we're all fucked anyway. - -Wallet management is as easy as having a strong password and having a backup of the wallet.dat file. It's not the most convenient, but it is easy. - comment: p1q62u3 parent: t1_p1q3kyo author: Nick700 body: Great 👍🏾 +comment: p1ykrse +parent: t3_1vfak2k +author: Snoo-37056 +created_utc: 1785973813 +edited: false +body: +Not seeing the practical use for mass adoption + +comment: p1z0yzl +parent: t1_p1tee22 +author: TexFarmer +created_utc: 1785979145 +edited: false +body: +Please tell us all how BTC has NO liability, use that thing between your ears for something other than a hat rack! + more-stub: parent t1_p1v7iiv count <live-count> more-stub: parent t1_p1u76ef count <live-count>Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The thread gained comments about FDIC coverage, a reported fintech funds-access issue, and a recommendation for offline 2-of-3 multisig using separate devices.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 42 lines
Buttttt, everyone holding dollars purchasing power went down slightly when the FDIC reimbursement occurred, so a small grain of salt is warranted 🤷♀️ +comment: p1v7iiv +parent: t1_p1utvp0 +author: PeachScary413 +created_utc: 1785941493 +edited: false +body: +How? If you mean inflation then yes it would have gone down anyway. The FDIC is paid by other banks (through an inter-bank insurance) so it's not even daddy gov dollars going + +comment: p1vel0j +parent: t1_p1plxvu +author: roconnor +created_utc: 1785943304 +edited: 1785943636 +body: +Let me introduce you to Yotta: https://en.wikipedia.org/wiki/Yotta_Technologies#Funds_availability_issues + +Yotta relied on Synapse, a fintech company based in San Francisco, to make funds available for deposit and withdrawal to partner banks, such as Arkansas-based Evolve Bank & Trust. Following a dispute between Synapse and Evolve, Synapse filed for Chapter 11 bankruptcy protection in 2024, affecting customers of Yotta and at least 24 other startups. Adam Moelis told CNBC in June 2024 that 85,000 Yotta customers, with a combined $112 million in deposits, could not access their funds. Although the partner banks had deposit insurance through the Federal Deposit Insurance Corporation (FDIC), the FDIC has not intervened, because no bank has failed. + +https://youtu.be/hiE7NvONU5U + +comment: p1wdn1g +parent: t1_p1ujfzm +author: metalzip +created_utc: 1785951966 +edited: false +body: +you do not need to actually understand anything of the mathemathics, encryption, software design. + +just remember to get separate devices, and then use the PSBT method to have 2of3 at least + +otehrwise do not do other things of that machines, and keep them offline + +comment: p1wxtfc +parent: t1_p1r3mwl +author: Big-Cheetah5159 +created_utc: 1785956985 +edited: false +body: +Great 👍🏾 + +more-stub: parent t1_p1v7iiv count <live-count> + more-stub: parent t1_p1u76ef count <live-count>Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The thread gained a series of comments debating exchange failures, reduced entropy, the accessibility of self-custody and financial protections, including an exchange about a reported Brazilian bank case.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 122 lines
edited: false body: agree, but honestly without an easy to use process for the average joe will bitcoin end at centralized third party storage + +comment: p1tdf9c +parent: t1_p1o5kmc +author: BigDik6355 +created_utc: 1785918005 +edited: false +body: +I wouldn't be so sure to make that bet to be honest. FTX, Celsius, MtGox, QuadrigaCX, Cryptopia, BTC-e... the list of exchanges that went under is long. + +comment: p1tdl2z +parent: t1_p1pa1xy +author: BigDik6355 +created_utc: 1785918083 +edited: false +body: +What part of "too little entropy" do you not understand? + +comment: p1tee22 +parent: t1_p1oby0m +author: BigDik6355 +created_utc: 1785918477 +edited: false +body: +I bet you can say "Bitcoin" on a bitcoin sub. No need to be mystical about it. + +comment: p1tei6x +parent: t1_p1nq0od +author: BigDik6355 +created_utc: 1785918532 +edited: false +body: +So far, more exchanges went under than hardware wallets (and with a lot more money involved). I know where I'd place my bets. + +comment: p1th718 +parent: t1_p1tdl2z +author: cipherjones +created_utc: 1785919838 +edited: false +body: +The part where we don't know how many actors engaged in it by and we pull the number .01% out of our ass. + +comment: p1tniak +parent: t1_p1pnd0i +author: highdimensionaldata +created_utc: 1785922903 +edited: false +body: +Mainstream adoption has left the chat. + +comment: p1u3cxt +parent: t1_p1rxb03 +author: metalzip +created_utc: 1785929549 +edited: false +body: +> Are you expecting that every little village guy somewhere in a developing nation selling vegetables knows the basics of encryption and how to keep their devices perfectly safe? + +yes. + +also it is enough to keep 2 of them safe (out of 3), or e.g. 3 out of 5. + +comment: p1u3uqn +parent: t1_p1tniak +author: D_Anargyre +created_utc: 1785929735 +edited: false +body: +I'd say a way to keep an accounting unit that can't be hack by superintelligent AI nor quantum computing will prove inherently useful soon enough. + +comment: p1u50kt +parent: t1_p1q0r9z +author: AvailableTie6834 +created_utc: 1785930164 +edited: false +body: +the fact that not everyone receives their money back FOR YEARS because they rather pay first the guys who had millions first than go over for the smaller ones, in the end, you will probably not see your money in 5 - 10 years. + +comment: p1u6ff8 +parent: t1_p1u50kt +author: PeachScary413 +created_utc: 1785930673 +edited: false +body: +Okay.. so once again, when has that ever happened? A bank going bust and people with deposits in the bank (under FDIC limit ofc) not getting their money back? + +Give me at least one concrete example please. + +comment: p1u76ef +parent: t1_p1u6ff8 +author: AvailableTie6834 +created_utc: 1785930938 +edited: false +body: +Brazil just had a case of that, it also has FDIC like, many victims of many banks didnt get their money back, this case happened this year, search for "Banco Master - Brazil case" + +comment: p1ug5vs +parent: t3_1vfak2k +author: MatixMint +created_utc: 1785933889 +edited: false +body: +I make my own keys using mycelium entropy and keep my btc on cold storage physical bitcoin coins + +comment: p1ujfzm +parent: t1_p1u3cxt +author: Aflockofants +created_utc: 1785934878 +edited: false +body: +As someone that actually lives in the developing world AND that has seen how little humans know and understand of software, you're delusional and it's only because you want to justify this to yourself. + +comment: p1utvp0 +parent: t1_p1pzp8z +author: andrew869 +created_utc: 1785937866 +edited: false +body: +Well not much of a point, you kinda got me there with the SVB holders being reimbursed. + +Buttttt, everyone holding dollars purchasing power went down slightly when the FDIC reimbursement occurred, so a small grain of salt is warranted 🤷♀️ + +more-stub: parent t1_p1u76ef count <live-count>Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The thread gained discussion of self-custody's usability, dice-based seed generation, brokerage and exchange custody, and confidence in bitcoin's wider purpose.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 102 lines
edited: false body: That’s why you store your bitcoin in stocks where it will grow for you. + +comment: p1rxb03 +parent: t1_p1qklpg +author: Aflockofants +created_utc: 1785896069 +edited: 1785896860 +body: +I as a software dev for 30 years can do that. I mined some +bitcoin myself when that was still viable. Are you expecting that every little village guy somewhere in a developing nation selling vegetables knows the basics of encryption and how to keep their devices perfectly safe? +Including that they can’t even trust parties that were supposedly one of the safest was to do it? Ludicrous notion. + +I just got out of the whole disgusting thing when the whole idealistic facade dropped and it showed its true colors. It was never to become another independent currency. All the stories about how it would transform the world, especially for the good of the poor were bullshit. NEVER GONNA HAPPEN. Just another way for the rich to get richer. + +comment: p1rzqbt +parent: t1_p1o66eq +author: redjellonian +created_utc: 1785896872 +edited: false +body: +Truly the perfect currency. + +comment: p1s40hs +parent: t1_p1pfcuw +author: disco-cone +created_utc: 1785898325 +edited: false +body: +Yey catch phrase that i don't understand + +comment: p1s9c4c +parent: t1_p1q62u3 +author: Deto +created_utc: 1785900231 +edited: false +body: +So basically if it stops growing faster than the market there's no point in btc. + +comment: p1s9pbx +parent: t1_p1p5m8g +author: F1shB0wl816 +created_utc: 1785900365 +edited: false +body: +As I pointed out to him, sipc doesn’t cover crypto on their platform. At best they have insurance that isn’t publicly detailed which would make me assume it’s not really all that great. He’s all about the trust. + +comment: p1sa0gd +parent: t1_p1o5kmc +author: HeroicHeron +created_utc: 1785900480 +edited: false +body: +That's likely true, but only because of how many people lost their wallet.dat files or passwords in the extremely early days where thousands of BTC were easy to get, but worth mere cents. In terms of purchasing power at the time of the loss, I'd bet the opposite was true. + +comment: p1sac7l +parent: t1_p1p9ogc +author: HeroicHeron +created_utc: 1785900601 +edited: false +body: +You don't need to use a hashing algorithm to calculate your dice results. Record only odd or even from your dice rolls and you can very easily convert 11 dice rolls into one BIP39 word by doing simple addition. + +comment: p1sbtmy +parent: t1_p1oee25 +author: HeroicHeron +created_utc: 1785901158 +edited: false +body: +Lehman Brothers survived for 158 years, including the Great Depression, and went bust in 2008 (because they were consciously running a scam that collapsed). Longevity isn't a guarantee for safety. + +comment: p1swdo6 +parent: t1_p1o7sj4 +author: HugeLarry +created_utc: 1785909841 +edited: false +body: +Be sure to also manually interpret chicken bones and tea leaves for entropy. + +comment: p1sxmj5 +parent: t1_p1njymf +author: HugeLarry +created_utc: 1785910415 +edited: false +body: +This is my jam also. I previously split between FBTC and self-custody, but since the Coldcard fiasco, I've added Coinbase exchange storage into the mix. I like how Fidelity and Coinbase have separate custody infrastructure, and I feel safer being less concentrated into self custody, which honestly I didn't even feel great about prior to the fiasco. + +comment: p1t0vow +parent: t3_1vfak2k +author: SleepAllTheDamnTime +created_utc: 1785911940 +edited: false +body: +Please take this concept and apply it to modern day everything and welp, yeah! + +You’ll own nothing and like it. That’s the strategy boss + +comment: p1t6et4 +parent: t3_1vfak2k +author: SaltySn0w +created_utc: 1785914583 +edited: false +body: +agree, but honestly without an easy to use process for the average joe will bitcoin end at centralized third party storageExtracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained a reply advocating holding bitcoin through stocks.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
edited: false body: how do you know the hardware wallet is not compromised? + +comment: p1rsqxy +parent: t3_1vfak2k +author: 2alphastyle +created_utc: 1785894563 +edited: false +body: +That’s why you store your bitcoin in stocks where it will grow for you.Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained a question about how to know whether a hardware wallet is compromised.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
edited: false body: ouch the coldcard thing was rough. honestly hardware + backup in different places beats pure paper imo, they both fail but not at the same time. learned that lesson the expensive way + +comment: p1rdn3p +parent: t1_p1nljav +author: SeaworthinessSad7300 +created_utc: 1785889650 +edited: false +body: +how do you know the hardware wallet is not compromised?Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained a comment about using hardware and backups in different places.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
edited: false body: what is mpc? + +comment: p1r7u9w +parent: t3_1vfak2k +author: MiaTaude589 +created_utc: 1785887791 +edited: false +body: +ouch the coldcard thing was rough. honestly hardware + backup in different places beats pure paper imo, they both fail but not at the same time. learned that lesson the expensive wayExtracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained comments questioning self-custody and asking about MPC.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 46 lines
body: Building your own hardware wallet and software lol +comment: p1o8qje +parent: t1_p1nerqy +author: SingularityCentral +created_utc: 1785859116 +edited: false +body: +You can put gold coins under your bed and "be your own bank". Doesn't mean it is a good idea. + comment: p1o9q1q parent: t1_p1o24p6 author: shabusnelik body: Yeah I guess if there is another 100 year crash (referring to the Great Depression and then the Great Recession 100 years later), then my funds may be a risk. I do feel better knowing they survived the Great Recession so hopefully that means they aren’t run by a bunch of assholes -comment: p1ogi2o -parent: t3_1vfak2k -author: Adius_Omega -created_utc: 1785861075 -edited: false -body: -There has to be a point where you have to just accept that this whole Bitcoin thing just didn't quite work out the way we all thought it would. +comment: p1of3ep +parent: t3_1vfak2k +author: JackPembroke +created_utc: 1785860724 +edited: false +body: +...maaaybe gold coins arent so bad looking after all lol comment: p1ogxu4 parent: t1_p1o6gaw If the coins were physical, would you store them all in one place? You need to hide a small portion in each storage method + +comment: p1r2733 +parent: t1_p1nerqy +author: Lopitoz07 +created_utc: 1785886008 +edited: false +body: +Be your own bank ? Like Celsius!!! + +comment: p1r3mwl +parent: t1_p1nvrit +author: BZ852 +created_utc: 1785886454 +edited: false +body: +Be your own bank! Be your own FDIC insurance! + +comment: p1r4md8 +parent: t3_1vfak2k +author: Informal-Special-984 +created_utc: 1785886762 +edited: false +body: +what is mpc?Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained a new participant comment.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
body: Not a human drawing, not a human meme +comment: p1o7sj4 +parent: t1_p1njymf +author: GeeEyeDoe +created_utc: 1785858878 +edited: false +body: +Carved seed phrase into sandstone blocks located in the middle of a booby trapped pyramid. Like how the ancient Egyptians used to store their seed phrase. + comment: p1o8iyc parent: t1_p1o50jm author: tribepride25Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained comments about transaction-signing risks, dice entropy and spreading holdings across storage methods.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 72 lines
It was all nonsense all along. Just a get-rich-quick scheme for the wealthier in the developed world with a money surplus and lots of time to pick up really weird tech skills way out of reach for the poor and disenfranchised. +comment: p1okzo1 +parent: t1_p1o6gaw +author: didnt_hodl +created_utc: 1785862195 +edited: false +body: +dice rolls alone will not prepare and execute a full transaction. you would need to use some fairly complicated software and hardware for that. which has bugs + +comment: p1olepe +parent: t1_p1ogxu4 +author: didnt_hodl +created_utc: 1785862299 +edited: false +body: +not. that hard to guess if your wallet is instructed to leak parts of your seed with every transaction or to sign something that you would not normally sign, etc etc + +the list of possible bugs and exploits is endless, and AI will find some new ones + comment: p1olt04 parent: t1_p1obi5k author: IInsulince body: In the real world, though, banks have a lot more jobs than that, and most of those jobs can never intersect with the pros of using Bitcoin. +comment: p1oq1yc +parent: t3_1vfak2k +author: TheV295 +created_utc: 1785863460 +edited: false +body: +Should just reduce to “not your coins” and call it done + comment: p1oq87w parent: t1_p1nunzq author: Gamer_Grease body: Poor guy spent 16 years looking for that napkin he scribbled his secret on. +comment: p1oz071 +parent: t1_p1o50jm +author: Powerful_Day_8640 +created_utc: 1785865655 +edited: false +body: +The ”trust by yourself” do an enormous amount of heavy lifting in that sentence. What’s even the point of being your own bank if you have to trust a few engineer did not make a fuck up. You are in that case better of owning a few gold coins as you only need to trust yourself to remember where you dug them down. This is a huge problem for bitcoin and just exposes how vulnerable we are holding our own coins, because in the end of the day we still have to just trust some random developer telling us ”just trust me bro” + comment: p1oznit parent: t1_p1nerqy author: PeachScary413 body: Dice can never be cracked. +comment: p1p9b0q +parent: t1_p1p02c0 +author: didnt_hodl +created_utc: 1785868205 +edited: false +body: +just look up "Nonce reuse" ( the private key can be mathematically recovered straight from those signatures) + +but there are many other ways how a badly coded or malicious HW can covertly embed the private key, seed phrase, or internal state directly into extra data fields, metadata, or change-handling scripts of the constructed transaction payload + +Malicious code running locally can trick a signing tool into dumping internal memory or witness stacks + comment: p1p9ogc parent: t1_p1p7vi5 author: piejlucas body: What a terrible way to secure late sums of money +comment: p1qdoo6 +parent: t1_p1o0nu3 +author: L-1-3-S +created_utc: 1785878792 +edited: false +body: +Its one of the most decentralized assets on the planet, especially among other cryptocurrencies, the blockchain itself is perfectly secure, and the VAST majority is still with individuals. even the biggest single holder in the world has less than 4% of the supply. + comment: p1qdpjl parent: t3_1vfak2k author: El_Zilcho edited: false body: Lol + +comment: p1qqcu3 +parent: t1_p1o66eq +author: SpezJailbaitMod +created_utc: 1785882385 +edited: false +body: +I hold it in my heart. (Because I sold all my bitcoin at $1200) + +comment: p1qqym3 +parent: t3_1vfak2k +author: TenToppingPizza +created_utc: 1785882564 +edited: false +body: +If the coins were physical, would you store them all in one place? + +You need to hide a small portion in each storage methodExtracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 2 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 16 lines
edited: false body: That non existent hard drive ? + +comment: p1qklpg +parent: t1_p1ok9s6 +author: metalzip +created_utc: 1785880723 +edited: false +body: +what are you rambling on about - just use a secure way to store keys. try the multisignature method + +comment: p1qlkgt +parent: t1_p1q3kyo +author: Letterhead-Warm +created_utc: 1785880998 +edited: false +body: +LolExtracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 6 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 51 lines
edited: false body: Unfortunate for those who gambled their emergency fund on BTC otherwise who cares BTC/USD is up 1300% in that same timeframe USD inflated 25% + +comment: p1qcs6z +parent: t1_p1pnd0i +author: Not-the-best-name +created_utc: 1785878549 +edited: false +body: +What a terrible way to secure late sums of money + +comment: p1qdpjl +parent: t3_1vfak2k +author: El_Zilcho +created_utc: 1785878799 +edited: false +body: +Not your AI, not your content. + +comment: p1qeppp +parent: t1_p1pnd0i +author: Gosat +created_utc: 1785879075 +edited: false +body: +That harddrive can crash. + +That paper can get lost or stolen. + +comment: p1qh4cn +parent: t3_1vfak2k +author: Dbear_son +created_utc: 1785879745 +edited: false +body: +The rolling dice part is wild + + +comment: p1qhooz +parent: t1_p1pum56 +author: Tebasaki +created_utc: 1785879904 +edited: false +body: +I think people are forgetting how much pizza you could buy in 2012 with btc vs now. In cash the system steals your money if you dont donate leadt two things: don't lose it and beat inflation every year. + +comment: p1qi0zv +parent: t1_p1qeppp +author: D_Anargyre +created_utc: 1785879999 +edited: false +body: +That non existent hard drive ?Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 1 new comment.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
I use the Bitcoin Core client. The way I see it, if the keys generated by that are ever cracked, we're all fucked anyway. Wallet management is as easy as having a strong password and having a backup of the wallet.dat file. It's not the most convenient, but it is easy. + +comment: p1q62u3 +parent: t1_p1q3kyo +author: Nick700 +created_utc: 1785876742 +edited: false +body: +Unfortunate for those who gambled their emergency fund on BTC otherwise who cares BTC/USD is up 1300% in that same timeframe USD inflated 25%Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 4 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 36 lines
edited: false body: What are you getting at? Once you spend dollars on any stock or asset it's no longer "actual dollars" either, but the represented valuation of the underlying asset notated in a dollar amount. However, it's shares of a company (company ownership) convertible to "actual dollars" upon sale of the shares. This isn't really any different from Bitcoin, real estate etc + +comment: p1pzp8z +parent: t1_p1p9tux +author: PeachScary413 +created_utc: 1785875044 +edited: false +body: +Whats your point? Yes there is a magical printer and it will print you back your freedom dollars 😤🤌 + +comment: p1q0r9z +parent: t1_p1ppoj6 +author: PeachScary413 +created_utc: 1785875324 +edited: false +body: +It was created in 1933 and has never, even once, not been honored and swiftly carried out. Please let me in on your imaginary disaster scenario when that will cease to be the case 😂 + +I'm gonna guess it's one of those "The world is pretty much full on Mad Max but somehow my Bitcoin is still super valuable"-fap dreams haha + +comment: p1q3kyo +parent: t1_p1pum56 +author: Opposite_Cold8616 +created_utc: 1785876080 +edited: false +body: +in less than 1 year 50% of btc value has been siphoned away + +comment: p1q3mdf +parent: t3_1vfak2k +author: foamingdogfever +created_utc: 1785876090 +edited: false +body: +I use the Bitcoin Core client. The way I see it, if the keys generated by that are ever cracked, we're all fucked anyway. + +Wallet management is as easy as having a strong password and having a backup of the wallet.dat file. It's not the most convenient, but it is easy.Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 3 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 24 lines
edited: false body: ohhh my sweet sweet summer child... + +comment: p1pum56 +parent: t1_p1plxvu +author: Nick700 +created_utc: 1785873698 +edited: false +body: +Yeah they aren't at risk of 100% of their funds disappearing but in less than 10 years 25% of their value has been siphoned away + +comment: p1px9q0 +parent: t1_p1po2bg +author: lapideous +created_utc: 1785874405 +edited: false +body: +“Actual dollars” + +comment: p1py1mj +parent: t1_p1px9q0 +author: Forded_Fiction24 +created_utc: 1785874609 +edited: false +body: +What are you getting at? Once you spend dollars on any stock or asset it's no longer "actual dollars" either, but the represented valuation of the underlying asset notated in a dollar amount. However, it's shares of a company (company ownership) convertible to "actual dollars" upon sale of the shares. This isn't really any different from Bitcoin, real estate etcExtracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread changed through new comments, removals, or edits.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 68 lines
parent: t1_p1nqb7z author: AvailableTie6834 created_utc: 1785855484 -edited: false -body: -and also deny people from withdrawning their money during a bank run +edited: 1785872376 +body: +and also deny people from withdrawing their money during a bank run comment: p1nupmi parent: t1_p1nqb7z Trust No One with Everything. Just like Stocks. + +comment: p1pkvlp +parent: t1_p1phq80 +author: Forded_Fiction24 +created_utc: 1785871144 +edited: false +body: +I do. I have separate wallets and addresses for my self-custody Bitcoin. That doesn't give me enough comfort in of itself though still which is why I hold some on a couple different exchanges and also have some shares of IBIT and FBTC as well + +comment: p1plxvu +parent: t1_p1njymf +author: Time_Jump8047 +created_utc: 1785871419 +edited: false +body: +Meanwhile all the people who use actual dollars and have the security and backing of regulated banks have a much closer to perfect way of holding their money. This shit is ridiculous people are losing their life savings + +comment: p1pnd0i +parent: t1_p1o66eq +author: D_Anargyre +created_utc: 1785871790 +edited: false +body: +Electrum wallet on tails using tor on a no hard drive pc. +Manual entropy. + +Keys noted on paper and nothing else. +The human holding that paper owns those btc. + +comment: p1pnhnu +parent: t1_p1nljav +author: D_Anargyre +created_utc: 1785871824 +edited: false +body: +Best hardware wallet is a piece of paper + +comment: p1po2bg +parent: t1_p1plxvu +author: Forded_Fiction24 +created_utc: 1785871974 +edited: false +body: +I mean not with Bitcoin holdings they don't. None of it is sipc insured and all is hosted on exchanges regardless If you're buying a BTC spot ETF, leaving it on an exchange or taking custody yourself. Regular bank insurance policies don't cover digital assets. These custodians probably have much more security than an individual, but exchanges have been taken down in the past too. + +Now if what you're saying is having all your life savings in Bitcoin, however you're storing it, yeah I agree that's stupid. I would never have all my life savings in Bitcoin or another single basket otherwise. Very short-sighted indeed, so yeah the people that made these claims that they lost everything were being reckless. Not saying they deserve it, Play stupid games, win stupid prizes though + +comment: p1ppi3p +parent: t1_p1p5wc2 +author: AvailableTie6834 +created_utc: 1785872355 +edited: false +body: +iancoleman seems to have more eyes than coldcard really + +comment: p1ppoj6 +parent: t1_p1p2ed5 +author: AvailableTie6834 +created_utc: 1785872402 +edited: false +body: +ohhh my sweet sweet summer child...Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 7 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 60 lines
It was a methodology that failed, you can't say only .01% of wallets were affected with the information given. One in 33800 holders. So it would equate to 140,000, Visa accounts or 90,000 MasterCard accounts being drained. + +comment: p1pe2wy +parent: t1_p1odd7g +author: TheresNoSecondBest +created_utc: 1785869402 +edited: false +body: +That would be a step backwards. + +comment: p1pfcuw +parent: t1_p1p9ogc +author: WeekendQuant +created_utc: 1785869722 +edited: false +body: +Verify your seeds with ian Coleman's BIP-39 + +comment: p1pft6f +parent: t1_p1p07iv +author: tribepride25 +created_utc: 1785869836 +edited: false +body: +Fidelity has a policy that if your funds are lost and it’s their fault ie from hacking (not just crypto but IRA, 401k etc), then they pay you back. That’s one of the reasons I feel comfortable with them. They also keep your crypto 1:1 without lending like Voyager, FTX did. I don’t worry about my Fidelity IRA getting stolen or hacked so I said why worry about my Fidelity crypto getting stolen or hacked + +comment: p1pghwe +parent: t1_p1oye81 +author: infernal_celery +created_utc: 1785870012 +edited: false +body: +NooOoOOoo!!!!!1110101010001…2. + +comment: p1pgsq5 +parent: t1_p1p2418 +author: nmhaas +created_utc: 1785870091 +edited: false +body: +No, it has been 'source verified' since 2021, I believe. Coincidentally the same year that new seeds started being worthless. + +comment: p1phntd +parent: t1_p1oznit +author: tribepride25 +created_utc: 1785870314 +edited: false +body: +This. And it’s kinda ridiculous to just hear people talk about it and I understand why Buttcoiners joke on us. It’s like “what? you didn’t roll the dice, create a pin, set a passphrase, multi sig, air gap, shake your left leg, update firm ware, say a prayer, download the latest version, put your keys in a metal plate, put keys in lock box, verify code using AI?” What did you expect? Of course you got hacked and lost your life savings. How could you be this stupid? /s + +comment: p1phq80 +parent: t1_p1njymf +author: LurkerFromTheVoid +created_utc: 1785870332 +edited: false +body: +So...Diversify your Storage. + +Trust No One with Everything. + +Just like Stocks.Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 4 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 34 lines
edited: false body: Seems entirely reasonable! But so to did trusting the cold card to generate a seed… + +comment: p1p7vi5 +parent: t1_p1o46gb +author: WeekendQuant +created_utc: 1785867848 +edited: false +body: +Dice can never be cracked. + +comment: p1p9ogc +parent: t1_p1p7vi5 +author: piejlucas +created_utc: 1785868298 +edited: false +body: +The hash algorithm that uses the dice results can always be faulty + +comment: p1p9tux +parent: t1_p1p1suo +author: andrew869 +created_utc: 1785868335 +edited: false +body: +Right, how could I forget the magical money printer + +comment: p1pa1xy +parent: t1_p1nwtf6 +author: cipherjones +created_utc: 1785868391 +edited: false +body: +It was a methodology that failed, you can't say only .01% of wallets were affected with the information given. + +One in 33800 holders. So it would equate to 140,000, Visa accounts or 90,000 MasterCard accounts being drained.Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The Reddit thread gained 13 new comments.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 123 lines
edited: false body: Poor guy spent 16 years looking for that napkin he scribbled his secret on. + +comment: p1oznit +parent: t1_p1nerqy +author: PeachScary413 +created_utc: 1785865814 +edited: false +body: +Everyone wants to be their "own bank" until reality punches them in the face and they start screaming for regulations, rules and class action lawsuits lmao + +We already went through this once with the regular financial system, countless people lost their life savings and banks collapsed/scammed people until the rules we have today were put in place... I get that it's not perfect but it's better than whatever "oops forgot to roll my own dice so now my life savings are gone"-type situation this is 😬 + +comment: p1p02c0 +parent: t1_p1nvygq +author: opossum_cz +created_utc: 1785865916 +edited: false +body: +You do not need HW wallet with no bugs and no vulnerabilities. + +Generate seed by coin flip or dices. +Put it in HW device that you never connect. +Transfer signed transactions by QR code or something similar. + +It is not that hard. + +comment: p1p07iv +parent: t1_p1oee25 +author: shabusnelik +created_utc: 1785865951 +edited: false +body: +Or if they get hacked/inside-jobbed. What happened to the first centralized exchange mtgox + +comment: p1p0a4v +parent: t1_p1ojviw +author: opossum_cz +created_utc: 1785865968 +edited: false +body: +How? You can make dice roles and find the seed words on paper. You don't need third party. + +comment: p1p19tt +parent: t1_p1o50jm +author: PeachScary413 +created_utc: 1785866211 +edited: false +body: +An exchange is not a bank though.. as far as I know there is no exchange with FDIC protection so if they go under your Bitcoin is gonezo... with a bank you always get paid back no matter what. + +comment: p1p1suo +parent: t1_p1o0c5d +author: PeachScary413 +created_utc: 1785866343 +edited: false +body: +Anyone with a bank account in SVB got paid back in full in under a week, as mandated by the FDIC. + +Even people above the limit got all their money back which the government isn't strictly required to do but did anyway, so that was probably the worst example you could have picked 😂 + +comment: p1p2418 +parent: t1_p1ooorl +author: OHYAMTB +created_utc: 1785866419 +edited: false +body: +Why did nobody see the ColdCard issue? Was it not open source + +comment: p1p2ed5 +parent: t1_p1oq87w +author: PeachScary413 +created_utc: 1785866490 +edited: false +body: +Dude wat? Your money is FDIC guaranteed and you will be paid back the full amount no matter what happens, up to the limit ofc. + +comment: p1p4d91 +parent: t1_p1p2ed5 +author: Gamer_Grease +created_utc: 1785866981 +edited: false +body: +Yes, but a deposit is not actually money. It’s a loan you made to a bank that you can call at any time, and which they pay interest on. They hold it as a liability. Banks are not big secure boxes of money. They’re borrowing and lending houses, where they aim to make slightly more money lending than they spend borrowing. + +Yes it is FDIC insured, though. And you will be paid up to $250,000 per bank. + +comment: p1p4on6 +parent: t1_p1o8iyc +author: GodsMoney_Ape +created_utc: 1785867059 +edited: false +body: +Supposed to be lol + +If you trust, you can get fucked. + +comment: p1p535y +parent: t1_p1p4d91 +author: PeachScary413 +created_utc: 1785867158 +edited: false +body: +Yeah I know dude. But why would I care about all that, I just get my money back within a week and carry on with my life instead. + +comment: p1p5m8g +parent: t1_p1ow4d5 +author: IInsulince +created_utc: 1785867290 +edited: false +body: +I’m sorry but everything you’re saying is just making me less interested in trusting an institution like robinhood to custody my bitcoin, not more. + +Self custody is and has always been a double edged sword: + +The good news is, you control the fate of your Bitcoin. +The bad news is, you control the fate of your Bitcoin. + +comment: p1p5wc2 +parent: t1_p1oweyt +author: IInsulince +created_utc: 1785867359 +edited: false +body: +Seems entirely reasonable! But so to did trusting the cold card to generate a seed…Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 0 lines
Extracted text as captured
post: 1vfak2k author: ShinyGallantWalrus created_utc: 1785850533 title: Not your keys, not your coins body: wishing nothing but the best for coldcard victims comment: p1ncihk parent: t3_1vfak2k author: Own_Vegetable_8094 created_utc: 1785850581 edited: false body: Not your own memecoin, not your coins. comment: p1nerqy parent: t3_1vfak2k author: holyknight00 created_utc: 1785851216 edited: false body: Just because it is inconvenient doesn't make it less true. If you are your own bank, it comes with pros and cons. You can't cherry-pick the pros and ignore the cons. comment: p1nfeh2 parent: t3_1vfak2k author: rini17 created_utc: 1785851391 edited: false body: Not your mind,... comment: p1nfs07 parent: t3_1vfak2k author: iloverunning11 created_utc: 1785851496 edited: false body: not your rug pull, not your coins comment: p1njymfExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
0 presentation-noise differences. Sidebar, ticker and other page chrome churn that our review classified as not being changes to what the source says.
How to check this yourself
The excerpts and plain unified diffs above show the text this project held and how it changed. To verify a quotation, compare it against the page itself or against the Internet Archive's copies, which are independent of this project.
Complete captures are held offline rather than mirrored here, so this page shows diffs and excerpts. If a quotation is ever disputed, the full copy can be produced. Ask.
How to check this yourself
Compare the screenshot or a quotation against the original while it is available.