SatoshiConsult / Satoshi Consult🔑 is on Nostr

Est. Block 745497. A Norwegian Bitcoin & LN⚡consulting firm

Co-organizer of BitDevs Oslo

Last Notes

2024-09-11 12:01:51

A truly special UI/UX designer was hired and paid in #bitcoin through
plebwork
The beautiful illustrations and animations are now merged into the Satoshi Consult website.
- What do you think about the UI/UX on the website?
- What can be improved on the Satoshi Consult website?
https://satoshiconsult.com #note14az…j70n

2024-09-02 07:00:48

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The current ~$58k range feels similar in length to when #bitcoin was trading at ~$27k for 31 weeks. https://image.nostr.build/2cad5ac2569fab4cf22ed8ca61aebbfc2e17df268e92f99e7606347e9c13702b.jpg https://image.nostr.build/4c3b03adddaea9dbc386e1e441384e03ace03833567ce3b85fd3de98c375b5e2.png

2024-08-29 07:08:01

In this poll by a Norwegian podcaster, only 13,5% respond that they store their #Bitcoin in multisig.
- 44,9% store their generational wealth with singlesig
- 35,3% store their hard money at an exchange
- 13,5% store their Bitcoin in multisig
- 6,4% store their BTC in a hotwallet
Why choose multisig and eliminate single points of failure?
By requiring multiple private keys to authorize transactions, multisig eliminates single points of failure, enhances security and flexibility, making it ideal for both individuals and organizations.
To the 35,3% storing your Bitcoin at an exchange. Avoid custodial solutions. Self-custody is critical. If you don't control your private keys, you don't truly own your Bitcoin. “Not your keys, not your Bitcoin.”
Honeypots like exchanges will continue to get hacked. With higher Bitcoin prices, exchanges will be even larger goals for hacks and thefts.
Singlesig wallets, where one key controls everything, are simple but risky. They involve a single point of failure. Lose the key, and you could lose your Bitcoin forever. Multisig, however, removes this single point of failure by requiring multiple keys for transactions.
In a multisig setup, multiple private keys are required to authorize a transaction. This is represented as “m-of-n,” where ‘m’ keys out of ‘n’ total keys are needed. Common setups like 2-of-3 or 3-of-5 strike a balance between security and ease of use.
Multisig offers enhanced security. If one key is lost or compromised, your Bitcoin is still safe with the remaining keys. It’s a safeguard against loss, providing peace of mind that singlesig cannot match. A lost mulitisig key can also be replaced.
Beyond individual security, multisig is perfect for organizations and businesses. It enables collective control over funds, preventing any one person from unilaterally spending Bitcoin. Businesses, non-profits, and even families can benefit from this collaborative approach.
Multisig also acts as a disaster recovery tool. If one key is lost, the remaining keyholders can still access the funds. This ensures that Bitcoin isn’t lost forever due to a single point of failure, which is a significant risk with singlesig.
Multisig can facilitate trustless escrow transactions. By involving a neutral third party as one of the keyholders, funds are only released when all parties agree. This minimizes the risk of fraud and disputes, making Bitcoin transactions more secure. Example HodlHodl
For estate planning, multisig allows for secure and resilient transfer of digital assets. By distributing keys among trusted family members or advisors, you can ensure your Bitcoin is passed on securely, preventing any single party from gaining full control.
While multisig provides superior security, it comes with trade-offs like increased complexity and higher transaction fees. However, the protection it offers often outweighs these drawbacks, especially for long-term storage of significant amounts of Bitcoin.
Setting up a multisig wallet involves choosing a wallet that supports multisig like SparrowWallet by @npub1hea…g9v2 , configuring the m-of-n setup, and distributing keys securely. Testing the setup with small transactions is crucial before using it for significant amounts.
Multisig enables separating your keys geographically. This buys time, increases risk for attackers, and limits their ability to compromise all keys at once. Dedicated hardware wallets representing each key also add an essential security layer.
For those who prefer some expert support, collaborative custody is an option. You maintain control of the majority of keys, while a trusted partner holds one key. Unchained, Casa and Nunchuk have excellent inheritance services built on collaborative custody.
#Bitcoin multisig is a powerful tool for anyone serious about securing their Bitcoin. Individuals, businesses, organizations, can utilize multisig for enhanced security, disaster recovery, and collaborative management of funds, making it a cornerstone of Bitcoin security. https://image.nostr.build/922316b27c788bd9fb2d77e92c9418b3ba15cc25ef7585f4da9b1a3e376b3d86.jpg https://image.nostr.build/9027473a480cb1d201d68311db54fa420288a8f1d82070b4f6ffe7bcdf6a896f.jpg https://image.nostr.build/f9eb2e52d0b32c59c7323b07bcf617b62f6056766d07fbe9918e9794ef232cec.jpg https://image.nostr.build/8ad2ec4f8e9148a49e0e1d416be59eef88127baa03dc85e4c1069efd948f6f0b.jpg https://image.nostr.build/47e53bcdffe2df836b09f589824b975c8d73195cdb97e687d0f9d5e639eb822e.jpg

2024-08-26 08:41:38

Satoshi Consult is looking for a seasoned UI/UX designer with Figma skills.
Check out the job posting at Plebwork:
https://www.plebwork.com/work/ui-ux-designer-euehy
Satoshi Consult provides tailored Bitcoin consultancy services for individuals and companies.
Services:
- Master Bitcoin self custody
- Accept BTC for payments
- Implement a Bitcoin Strategy in your business
- Learn and improve Bitcoin privacy and security
- Bitcoin Keynotes and workshops
https://www.satoshiconsult.com

2024-03-08 14:19:31

“Bitcoin Scoops Up Stranded and Excess Power”
Excellent article by @npub1y0g…jxa0 on the benefits of Bitcoin mining and demand-response.
https://www.aier.org/article/bitcoin-scoops-up-stranded-and-excess-power/ #note1hkv…ltel

2024-03-07 10:54:17

To quote @npub1guh…6hjy from @npub10ut…xdlq #294: THE GREATEST BITCOIN BULL RUN OF ALL TIME?
“It looks like @npub1mut…23vg with @npub1t0n…jgqv, @npub1u8l…turz & @npub1p4k…cxf8 have been a lot more productive during the @npub1s0v…rmq5 in Madeira” - @npub1guh…6hjy
- App (iOS & Android)
- Progressive web app
- Self hosted @npub1mut…23vg at StartOS from @npub126n…e9ll
- ecash (Cashu & Fedimints) in progress (ref. @npub1u8l…turz on @npub1qdc…zclt BR061)
- Coming soon: Coinjoin
- Coming Soon: Synthetic USD
@npub1rzn…r4ly agree with @npub1zxp…hh37
Brick by brick. An empire is forming.
https://fountain.fm/episode/QFEx3I2pV0qrEQgNjDLj
https://fountain.fm/episode/nmRkZ5ijhH9ZxhEX6PM3 https://image.nostr.build/e1757d1c4f7927d3f357ce3170b3556dc2136afd7b3aee5cd943a9afe293e37a.jpg #note1c4y…wznk

2024-03-04 08:53:03

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Hughes, Eric (1993)
“A Cypherpunk's Manifesto”
“Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world.”
https://nakamotoinstitute.org/library/cypherpunk-manifesto

2023-05-10 11:33:59

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#[2] 🎖️

2023-04-12 07:21:06

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Correct me if I´m wrong; The relays will leak who you are sending and recieving DM´s with. But not the content of the DM`s.
In that sense Signal seems more secure.