We now direct our focus towards exploring the capabilities and benefits of MultiSig technology. By transitioning your attention to MultiSig, the aim is to further enhance your security. MultiSig minimises potential vulnerabilities and we are excited to delve deeper into the features and advantages that MultiSig has to offer, and we are confident that this strategic shift will contribute positively to your bitcoin security operations.
We love ingenuity, and this is a fantastic example of people thinking outside of the box to create something that will forever be etched into history. On first glance Bitcoin (BTC) block 836361 isn’t any different from other blocks
Custodial services involve a third party holding onto your bitcoin on your behalf, which can be convenient but comes with added risk. Self-custody, on the other hand, means you are responsible for keeping your own bitcoin secure, which may require more effort but gives you full control.
If you haven’t read Part 1, you can read it https://www.momentum-analytics.io/news/self-custody-part-1
“There are no shortcuts to any place worth going.” - Beverly Sills
With all the excitement around the recent Bitcoin ETFs it easy to forget the importance of self custody and what makes Bitcoin such a powerful bearer asset. Ever heard of the saying:
“Not your keys, not your coins”
We now direct our focus towards exploring the capabilities and benefits of MultiSig technology. By transitioning your attention to MultiSig, the aim is to further enhance your security. MultiSig minimises potential vulnerabilities and we are excited to delve deeper into the features and advantages that MultiSig has to offer, and we are confident that this strategic shift will contribute positively to your bitcoin security operations.
Custodial services involve a third party holding onto your bitcoin on your behalf, which can be convenient but comes with added risk. Self-custody, on the other hand, means you are responsible for keeping your own bitcoin secure, which may require more effort but gives you full control.
If you haven’t read Part 1, you can read it https://www.momentum-analytics.io/news/self-custody-part-1
“There are no shortcuts to any place worth going.” - Beverly Sills
I wanted to take a moment to highlight the importance of prioritising your online privacy, especially when it comes to emailing and messaging. In today's digital age, our personal information is constantly at risk of being compromised by malicious actors. However, there are steps we can take to protect ourselves and ensure that our communications remain secure.
Image by Matthew Henry
When talking about wealth, freedom and privacy, a good place to start is with this quote:
“You will never be free without privacy. Privacy is not secrecy, it is the ability to selectively reveal yourself to the world. It is a prerequisite for freedom because private information may be used to control you.
You will never be wealthy without freedom. It is a prerequisite for wealth because otherwise it is not your wealth.” Matt Odell
There are countless examples of why it is important to protect your privacy. Now I know many are going to say, give me some examples. Well why not stop and have a little think yourself. Think about every single military conflict in human history. How many strategists do you think would have set out to plan the offence or defence in the open?
Another really great argument for privacy is the I have nothing to hide. Sure, that may be the case, but I always enjoy asking the following question back: “why does your post come in an envelope and why do your file away or shred your bank statements, why don’t you leave them at your front door” or “awesome, I’ll pop around later today to install a camera in you and your wife’s bedroom”. Now, let’s take this a little further, think mobile phone camera, your children and bathing.
Privacy ensures our freedom and ultimately protects all our future wealth. So the question is how do we get there? The answer is not overnight. It’s a process that takes years and new smarter ways are constantly being found to harvest your data, so you are going to have to be on your toes to turn the tide. Remember the saying:
“If its free, you are the product”
If it is free, ensure the software is open source and a not for profit organisation. Also don’t be afraid to pay for services that protect your privacy, if anything does go wrong, you will have recourse to damages if your privacy rights are infringed. Think about all the free services you are currently using at the moment.
Like everything, the best place is to start. Find a couple of reliable people and sources who specialise in privacy / cryptography and see what they are doing. What messaging / calling apps and social media platforms are they using (Signal) and which ones are they not using?
For email, start by migrating your financial and legal accounts to services that have encryption build-in (ProtonMail) and if you have other accounts like gmail, use PGP. This is a great article I found and had PGP on gmail setup in an afternoon - How to use PGP encryption with Gmail. Use the PGP keys you generated with desktop and mobile apps like Canarymail.
Start using VPN (ProtonMail have a service for paid subscribers); Tor (See Brave browser options), 2FA and password managers.
Also remember, owning Bitcoin on an exchange is like owning gold in a vault you have no access to or having fiat in a bank account that you can be removed from (recent examples in Canada and Russian reserves should be something you are taking note of). Start your journey with hardware wallets (Ledger, Trezor and ColdCard), self hosted multisig: (Sparrow Wallet, Electrum) and maybe even build your own dedicated node: (Umbrel)
In the end, try not to over complicate things and take it slow. There will be ups and downs along the way, but remember you have to start somewhere. There are some incredible resources here: https://citadeldispatch.com/
No sponsored content, no affiliate links, no ads - The content above provides education as to general privacy and security practices. Should you choose to apply the practices described in linked content in anyway now or in the future, you do so at your own risk. Nothing shall be construed as providing consulting, financial advice or general advice.
Image by Javier Allegue Barros
Very rarely do you come across a youtube video that includes a discussion about a large number of important topics of our time. Each is then perfectly interwoven into the next to provide a holistic view of the broader topic for understanding and then action.
Complex problems can not be addressed through sound bite online news and aggressive social media platforms. There can never be a proper discussion on platforms that encourage conflict to attract views. This youtube video, has in my opinion, shown that it is possible to discuss complex problems and possible solutions to all things including learning, money, fairer systems, free market economics, truth and what lies ahead in the future.
The Distortion of Money with Jeff Booth
Jeff Booth is Entrepreneur and Author of ‘The Price of Tomorrow’. In this interview, he discusses the distortion of money, how Bitcoin can herald in a fairer system based on truth and a free market of ideas, and the transition from scarcity to abundance. Shout out to Peter and team from WBD for another fantastic podcast.
“These ideas of communism and free-market collide, and they’re both communism over time. And that sounds harsh, but it’s a control structure. There is no free market, if there’s a distortion of money, because everything else is on top of that distortion of money.” — Jeff Booth
Here is a comment from the video which I think is worth repeating:
“Came for the bitcoin got a lesson on how to be a better human. It’s what I love about the bitcoin ethos so much. It forces you to stretch and grow as a person. Jeff is a sage of a man I hope to be able to be half the man he is when I’m his age. Great interview Peter!”
This publication is general in nature and is not intended to constitute any professional advice or an offer or solicitation to buy or sell any financial or investment products. You should seek separate professional advice before taking any action in relation to the matters dealt with in this publication. Please also note our disclosure here
Image by Hal Gatewood
There has been a lot of talk recently about bitcoin and energy usage.
The ESG narrative and how crypto mining is so bad for the environment. We even have the energy policy makers in the EU looking to ban POW crypto mining (let’s leave their last success stories out of this conversation for now … LOL).
What are the odds they are accumulating BTC themselves?
As a reminder let’s see how much energy BTC mining is used globally. Here is a link to an article that covers the results from The Bitcoin Mining Council (BMC) Q3 2021 study.
It’s easy to get caught up in the 2 liners, on Facebook, Instagram and Twitter, on why mining is supposedly so bad for the environment, but here is a lengthy conversations about the intricacies of energy and the role bitcoin is currently playing in actually solving some of our global energy problems.
Bitcoin Energy Markets with Shaun Connell
In summary, according to the Bitcoin Mining Council (BMC), Bitcoin mining used 0.38% of the worldwide 50,000TW/h energy that is wasted due to inefficiencies. The Bitcoin and crypto mining industry is actually trying to solve problems and are in fact part of the solution. Many of us started in this space to fix a financial problem (gains being a small component of this), we have staying for far greater causes (the brains are here).
This publication is general in nature and is not intended to constitute any professional advice or an offer or solicitation to buy or sell any financial or investment products. You should seek separate professional advice before taking any action in relation to the matters dealt with in this publication. Please also note our disclosure here
