Crypto 360°

Sunday, 6 November 2022

The Bitcoin Cash Podcast #63: Regulation & Twitter Takeover feat. Joël Valenzuela

submitted by /u/Shibinator
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source https://www.reddit.com/r/btc/comments/yn6v4n/the_bitcoin_cash_podcast_63_regulation_twitter/

When trolling crypto scammers becomes a hobby

submitted by /u/prodALIENCULT
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Block Subsidy Maturation Time and TX Fees

I know that block subsidy has to "mature" at least 100 blocks before it may become an input to a TX. Does that rule also apply for the TX fees collected in a block or can TX fees be spent immediately?

Bonus: pointer to a relevant source or code.

Info: https://bitcoin.stackexchange.com/questions/1991/what-is-the-block-maturation-time

submitted by /u/McJvck
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“There are now rumors of solvency from two different major exchanges.”

submitted by /u/Egon_1
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source https://www.reddit.com/r/btc/comments/yn2b7u/there_are_now_rumors_of_solvency_from_two/

Multi-sig question/help

I'm at the point where I'm getting a bit more comfortable with self-custody/cold storage where I'm ready to move forward with multi-sig.

I see in Sparrow where I can create a new wallet, but this makes it seem like the private key is then on my computer (I'll explain more why I may be missing a key piece of understanding below).

I also see where I can add the signing devices and the scheme (2-of-3, 3-of-5, etc) and saw a video on using PSBT exports and imports where those devices become the multi-signatures required to move.

Is there a way to confirm the address shown in Sparrow is a multi-sig using my Umbrel node (via Mempool in the Umbrel)? This would help reassure me that even if the private key from Sparrow is on the PC (and backed up) that it's not a "normal" hot wallet since it requires mutli-sig to move.

Is it more like Ledger Live where Sparrow has the wallet, but the private keys are on the devices themselves (and not on the PC)? If so, do I just set up those other devices like I would if they were regular cold storage 1-of-1 devices with addresses and 24 words backed up as normally done then later essentially link them together in Sparrow as 2-of-3 for example?

I also see multi-sig detail export from Sparrow in a few different formats so you can properly reconstruct the multi-sig setup if your computer were wiped/crashed.

Using 24-words you can backup with steel/metal, but is there a preferred way to back this multi-sig info? Is that safe for something like cloud storage and an SD card in a safe or something like that to prevent a fire taking out your computer and the backup)? I'm assuming it's alright to back this multi-sig file up in multiple less secure places as it's not the actual private keys or given it's multi-sig?

In sparrow when you create this new address and set it up as a multi-sig, going back to the standalone 24-word backups for signing devices, how would I backup this Sparrow address or is there no real backup since it creates no private key and those keys instead reside on the signing devices and they're backed up as you normally would backup a wallet there?

Since you'd have an address then on each signing device (2), what happens if you send btc to those addresses instead of the Sparrow address? Does it just behave like 3 different addresses where one of the 3 requires multi-sig?

I think I'm somewhat close to understanding this, but really would like to get a better grasp of what's happening under the hood so to speak and want to make sure the backup process is sound as well as my understanding of the flowchart of how this works.

I've tried to find videos, but not sure they quite go into the nuances I'm trying to learn or figure out in this (perhaps I'm more fundamentally missing something and a piece of information missing would make it click for me).

Thanks for any help trying to clarify some of these gaps in understanding for me and sorry if some of this seems basic, but want to understand it a little more before setting it up (will still test with small amounts first). Don't have many offline I associate with that could assist with this sort of nuanced topic and aren't any meetups in the area unfortunately. Any help for a fellow pleb trying to secure their setup and learn more how this works under the hood would be appreciated.

submitted by /u/Snoo_32766
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