Oh I'm very much in favor of taking custody of your keys! I've just found over time that a person is less likely to do so the more in the weeds they get with all the technicalities.So you’re saying I shouldn’t do what this man is doing, yet?
www.bloomberg.com
but use acid free paper, and store it someplace fireproof.
Worth keeping in mind that it is trivial for an internal bad actor to open a safety deposit box, copy a seed phrase and close it. Sure you can use some tamper evident sealing strategies, but that won't give you your coin back. I understand the draw to a safety deposit box, I just wouldn't suggest it personally. Perhaps that's a bit paranoid though, just my perspective on it
Flobee
any thoughts on DCA intervals and at what point to transfer to hw wallet? Since my DCA amount is rather low I’m wondering if going by time instead of amount would be more prudent for transferring, say doing a transfer to hw wallet every 1 month?
Fat UTXO's are going to be best to future proof yourself. 1 million sat minimum is probably a good rule of thumb, others would be comfortable with significantly smaller UTXOs it really depends on how you think the fee market will develop in the future. Short post here that can be helpful for figuring this out. Personally I would go for a minimum sat amount rather than time, but it really depends on your goals, how much you're investing, and how you plan on managing it. UTXO management is one of the more advanced aspects of BTC custody and there are a lot of factors worth considering. The chart used in that link is a good measuring stick for UTXO size. I would just reiterate not to over complicate it though, if 50k sat UTXO's are what make sense to you then by all means do it, just understand the risks and have a plan. There are costs and benefits to any approach here.
Rangoth
the value proposition of Bitcoin requires self custody. It is -very- different than your 401k at Fidelity and is valuable for very different reasons. Trusting Fidelity with the 401k is not the same as trusting regulated scammers like Coinbase or Binance. The underlying assets are completely different fundamentally. A rogue employee at Fidelity can't in any realistic way steal all of your Tesla stock because it can only move within the regulated system. Bitcoin can't be controlled in that way, thus it has a completely different value proposition and risk profile to securities.
From my understanding I can also consolidate the UXTOs on my Trezor, which is an option - pay the fees now if I think they’ll go up in the future. I think you’re right though - don’t overcomplicate it right now. DCA it and pick a sat number to decide to do transfers to my wallet.Fat UTXO's are going to be best to future proof yourself. 1 million sat minimum is probably a good rule of thumb, others would be comfortable with significantly smaller UTXOs it really depends on how you think the fee market will develop in the future. Short post here that can be helpful for figuring this out. Personally I would go for a minimum sat amount rather than time, but it really depends on your goals, how much you're investing, and how you plan on managing it. UTXO management is one of the more advanced aspects of BTC custody and there are a lot of factors worth considering. The chart used in that link is a good measuring stick for UTXO size. I would just reiterate not to over complicate it though, if 50k sat UTXO's are what make sense to you then by all means do it, just understand the risks and have a plan. There are costs and benefits to any approach here.
I do it all the time. Just because you don't know about it doesn't mean it isn't happening.
Well yeah when you move to a shithole country that has currency worth less than toilet paper, I guess that bitcoin starts making sense.
If a significant portion of Bitcoin speculation is due to investors trying to protect themselves from dollar fuckery, can you really say it's decoupled?
Yeah Mist, it sure looks like a real shithole country from this video. Do you find saying that ironic having lived in California and never traveled outside it? Projection much?
