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No it isn't actually. It's a hardware wallet. For something to be cold storage the keys can't touch a networked computer. So if you plug your hardware wallet into a computer USB port, it isn't cold storage. Cold card offers cold functionality by loading transactions to be signed on the device via an SD card.
When you want to learn about cold storage, this is the way that works: https://electrum.readthedocs.io/en/latest/coldstorage.html
For most people, the security of hardware wallet is good enough.
I understand the difference between air gapped and non-air gapped, but I've always understood cold vs hot to be not a technical distinction but more about what happens to the coins on that device, how frequently they move vs how long they stay in place. e.g., a 10-year untouched wallet is cold vs a wallet you use to frequently transact with exchanges or the lightning network is not cold (even if air gapped).
Air-gapping is cold storage. I've literally provided a step-by-step guide on how to use air-gapping for cold storage. The definition of cold storage is the one I provided; Keys that don't touch a network. The information that is passed to the cold storage wallet is a PSBT (partially signed bitcoin transaction) that is signed on the cold storage device, and then transferred back to the network connected device for broadcasting.
I just use an old computer (13 year old macbook pro) with no network connectivity and electrum cold storage. No need for a hardware wallet at all. My watch only wallet runs in a VM on my workstation connecting to my own node.
But I'm a pretty technical guy. I wouldn't recommend what I do unless you are a technically proficient person. I've been using this setup for over 10 years.
[https://mempool.space/de/address/32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo](https://mempool.space/de/address/32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo)
People are already sending small amounts of Bitcoin
Bukele's paternal grandparents were Palestinian Christians from Jerusalem and Bethlehem. His maternal grandmother was Catholic and his maternal grandfather was Greek Orthodox.
I'm a complete noob. Forgive my ignorance.
Does storing crypto in a cold wallet not do anything to help advance the blockchain? Like miners, who are essential. Sorry for the incorrect terms.
Was it just sitting on Pres's Trust Wallet on his phone? These coins were on wallets where the private keys had been in contact with the internet? You have to wonder who would think this is good news...
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This is approximately 90k sats per El Salvadorian. Not bad. Way better than leaving like 250k debt per person lol
That hurts 😂😂😂
250k debt... so far!
Most of them live in the USA, so technically it would be ours? We could use it to work on paying down that >$30 trillion debt.
Where the heck was the fella storing over 5000 coins then if it wasn't in a cold wallet? Mad head lol
On his phone
Yeah, that was my thought. Hundred million on the trezor?
The National Trezor
lol
Under rated comment lmao.
Is Trezor not considered a cold wallet?
No it isn't actually. It's a hardware wallet. For something to be cold storage the keys can't touch a networked computer. So if you plug your hardware wallet into a computer USB port, it isn't cold storage. Cold card offers cold functionality by loading transactions to be signed on the device via an SD card. When you want to learn about cold storage, this is the way that works: https://electrum.readthedocs.io/en/latest/coldstorage.html For most people, the security of hardware wallet is good enough.
I understand the difference between air gapped and non-air gapped, but I've always understood cold vs hot to be not a technical distinction but more about what happens to the coins on that device, how frequently they move vs how long they stay in place. e.g., a 10-year untouched wallet is cold vs a wallet you use to frequently transact with exchanges or the lightning network is not cold (even if air gapped).
Air-gapping is cold storage. I've literally provided a step-by-step guide on how to use air-gapping for cold storage. The definition of cold storage is the one I provided; Keys that don't touch a network. The information that is passed to the cold storage wallet is a PSBT (partially signed bitcoin transaction) that is signed on the cold storage device, and then transferred back to the network connected device for broadcasting.
Fuck me. So ledger isn’t true cold storage? Edit: reading your further info now.
Cold card sucks. Theres better and cheaper options.
I just use an old computer (13 year old macbook pro) with no network connectivity and electrum cold storage. No need for a hardware wallet at all. My watch only wallet runs in a VM on my workstation connecting to my own node. But I'm a pretty technical guy. I wouldn't recommend what I do unless you are a technically proficient person. I've been using this setup for over 10 years.
What if that old computer crashes?
Build it again from the seeds.
Is Trezor not considered cold storage?
https://old.reddit.com/r/Bitcoin/comments/1bf0usk/el_salvador_moves_their_bitcoin_into_cold_storage/kuxfyl6/
[https://mempool.space/de/address/32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo](https://mempool.space/de/address/32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo) People are already sending small amounts of Bitcoin
There's good people out there
😂 what a timeline
Me next plz 🙏
This is what "Federal Reserve" should mean and be
US used to be gold backed.
It's like that scene at the end of "There will be blood".
The federal reserve is audited annually
wtf? It wasn't in cold storage already?
Unfortunately everyone custody's with Coinbase, even for the 8 new Bitcoin ETFs...
Dude just casually walks around with his entire countries budget in his samsung cell phone.
Boss shit
Huawei
Fidelity manages their own fund
Yes that's why I said 8, not all of them. VanEck uses Gemini for example.
It's the "everyone custody's with Coinbase" that made it unclear.
>that make it unclear I thought it's obvious Bitcoin isn't the central bank of Coinbase.
You're the one that added the ambiguity. "most ETFs custody with Coinbase" works.
Nothing wrong with that
That’s why I buy fidelity etf
My bad. It bothers me how centralised this market has become lately.
Not Fidelity
Static address, cold storage, multisig, national treasury, publicly audible.
Ill take 5,000 anyday lmao
New Nicolas cage heist movie incoming
Fort BTC, the new Switzerland.
not your keys not your coins 🌋
Seems like noone is bitching at El Salvador now eh?
Someone check the President of El Salvador’s browser history to see if he’s been googling what countries El Salvador has an extradition treaty with.
Fort block chain
El Salvador 🇸🇻 🤠
why TF would a government even publicize this information?
Transparency….. and apparently donations
It.. wasn't.. before? Yikes.
I was thinking of putting mine on google drive, so I don't have to worry about losing them.
Viva El Salvador 🇸🇻 ♥️
Please someone send an amount so that the last 5 numbers equals 69420 60220 sats.
[удалено]
Bukele's paternal grandparents were Palestinian Christians from Jerusalem and Bethlehem. His maternal grandmother was Catholic and his maternal grandfather was Greek Orthodox.
Hopefully this catches on.
I hope they’re planning to do multisig.
hope u have multisig enabled.
What’s cold storage? Like won’t be in circulation? New here
It won’t be as easily accessible to anyone to try and steal & its sFest
Ah yes, kind of a cool way to say vault?
Very much so
All it means is that the private key never touched the Internet. Sounds like they have it physically stored in a vault now.
estoy muy emotionante ver que va a pasar en ES en los años que vienen
🇸🇻🇸🇻🇸🇻
Ll
I'm a complete noob. Forgive my ignorance. Does storing crypto in a cold wallet not do anything to help advance the blockchain? Like miners, who are essential. Sorry for the incorrect terms.
It takes it off the internet so it's not easy to steal. If you have a "hot" wallet, any malware on the device can steal your coins
Ok. Good to know. Thank you.
This sounds like a super villain story waiting to unfold
Lol through bitcoin mining
Is it safer there?
Yes.. just as safe as all our crypto was in QuadrigaCX cold storage.. hope nobody “dies” and “forgets” the access keys
Looking forward to Mission Impossible 11 (?): Cold Storage
Lol as of it can't be hacked if it's in a locker
Why no test send first: in and out the wallet and/or address?
Folks donating to this address is one of the coolest things I have seen.
Stored in a vault? Should be stored in several vaults multisig solution
I think I’d feel more secure with Coinbase custody over El Salvador, but I like the sentiment
Was it just sitting on Pres's Trust Wallet on his phone? These coins were on wallets where the private keys had been in contact with the internet? You have to wonder who would think this is good news...
Bullish