The saga of Terraform Labs and TrĂȘs Arcos Capital is like a soap opera, with twists and turns and millions lost. đČđ° Discover how a promising investment collapsed, leaving a cryptocurrency investment fund in financial despair.
Complete Self-Sovereignty and Custody Infrastructure for Bitcoin https://www.eddieoz.com/complete-self-sovereignty-and-custody-infrastructure-for-bitcoin/
Complete Self-Sovereignty and Custody Infrastructure for Bitcoin
Overview of the Infrastructure Umbrel/Citadel/RaspiBlitz/Start9 ServerPurpose: Acts as your personal Bitcoin and Lightning Network node.Setup: Installed on a Raspberry Pi 4 running Debian or Umbrel OS.Benefits:Participate in Bitcoin Consensus: Validates transactions and blocks independently.Lightning Network Routing: Facilitates faster transactions and earns routing fees.Cold Storage WalletsColdcard: A highly secure hardware wallet designed specifically for Bitcoin.Ledger Nano X: A versatile hardware wallet supporting multiple cryptocurrencies.Purpose: Store your Bitcoin offline to protect against online threats.Secure DevicesEncrypted Computer: A notebook with encrypted storage for managing your wallets and nodes securely.Android Phone with Secure Area:Old Device: Repurposed without a SIM card to minimize exposure.Secure Area for Apps: Uses features like Samsung's Secure Folder/Knox to isolate sensitive applications.NerdMinerPurpose: A compact mining device like the Nerdminer V2 to engage in Bitcoin mining.Function: Attempts to mine Bitcoin blocks, offering a chance (albeit very low) to earn block rewards and learn about the mining process.
Advantages of This Setup Self-Sovereignty: You have complete control over your funds without relying on third-party services.Enhanced Privacy:CoinJoin Transactions: Mix your coins with others to obfuscate transaction history.No SIM Card Devices: Reduces the risk of SIM swapping attacks.Network Participation:Consensus Involvement: By running a full node, you help maintain the network's integrity.Lightning Network: Improve transaction speeds and network scalability.Security:Cold Storage: Keeps your private keys offline, away from potential online threats.Encrypted Devices: Protects data even if physical devices are lost or stolen.
Simplifying the Perceived Complexity While the infrastructure may seem daunting, it's more approachable than it appears: Starting Point: Use an old computer or phone as a cold wallet with software like Electrum or Sparrow.Step-by-Step Setup:Begin with setting up the Umbrel/Citadel/RaspiBlitz/Start9 server.Gradually add hardware wallets like Coldcard, SeedSigner DIY, Jade, Ledger, Trezor or Onekey.Implement security measures on your existing devices.Community Resources: Numerous guides and communities are available to assist with each step.
Embracing Freedom and Privacy Practicing self-sovereignty and custody isn't just about securing your Bitcoinâit's about embracing freedom and privacy in the digital age. By taking control: Financial Independence: You're not dependent on banks or exchanges.Data Privacy: Your financial data remains confidential.Empowerment: Gain a deeper understanding of how Bitcoin and blockchain technology work. Remember: Even simple steps like using an old device as a cold wallet can significantly enhance your security. The journey towards complete self-sovereignty is a progressive one, and each step you take strengthens your position in the digital world.
@OpenAI may have reallocated resources from GPT-4o and directed them towards their new model.
GPT-4o appears to show similar issues that plagued the later versions of GPT-4, such as slower predicting, laziness, network errors, and increased hallucinations, likely due to insufficient resources.
Did you know that re-staking crypto tokens also carries systemic risks? Find out more about this with Gerard:
đž Systemic risk is the consequences of individual decisions and interconnections between market players. đž Irresponsible leverage - If large players use leverage inappropriately, a mass liquidation can occur, causing the market to collapse. đž Parallels with the 2008 crisis - Just like the 2008 financial crisis, leverage in cryptocurrencies can have devastating effects on a large scale.
The Cryptocurrency Siege: Privacy, Freedom and the Future
Cryptocurrencies, and Bitcoin in particular, have emerged as a symbol of freedom in an increasingly digitalized world. However, we are witnessing an era where opportunities to disconnect from the traditional financial system are rapidly closing. Increased government surveillance and new regulations are transforming the financial and digital landscape, threatening the privacy and individual freedom that cryptocurrencies promised to protect. Bitcoin's Role in Digital Freedom