🚨 IS BITKEY SAFE FOR MY BITCOIN..?!?!?!?!? - BitKey vs ColdCard..? - How I evaluate my Bitcoin custody..? - What about these key flaws no one wants to mention..? Let's discuss:

Why do you live in a hotel?

(1/2) There is so much wrong with this video. I’ll critique it chronologically: 1. Everyone relies on SOME third parties (as I will explain below), it’s a question of which ones. @COLDCARD was a tiny company, with an arrogant leader, and tiny percent market share. It never seemed right to rely on them, which is why I never did, and why I never recommended them. 2. Nobody has sponsored, paid for, or bought me. I spend tens of thousands of dollars of my own money every month promoting bitcoin and @Bitkey, and I don’t get a penny or a Satoshi from anyone. 3. The obvious solution for most people’s self-custody bitcoin was always @Bitkey. 4. You never even bought the product, yet you are posting a negative review of it. I sent you $500 of free bitcoin so you could buy one (or two), and instead of buying it, you leave a negative review about it without even owning the product (for free!) Doesn’t that sound to you like all the close-minded people who crap on bitcoin without ever using it or trying it? How are you not being one of those people in this situation? 5. Before you even considered doing this video, @Bitkey posted a detailed outline of how they do key generation, which was available for you to read for days in advance of you doing the video: 6. Very technical people have reviewed every aspect of @Bitkey, like at this link, which was available prior to your recording the video also: 7. A normal person looking to protect millions of dollars of assets would naturally turn to a Fortune 500 company like Block, which makes @Bitkey. 8. You say that all the self-proclaimed hard-core Bitcoiners were recommending @COLDCARD, but I never was. I’ve been recommending Bitkey since before the day it was released more than two years ago, and I never felt comfortable recommending @COLDCARD, so I never did. You are making blanket statements that are not true. 9. Again, you didn’t even order it, yet you are leaving a negative review? Do you realize how lame that is? I sent you $500 of free bitcoin to buy one! 10. Read the link above about how @Bitkey does seed generation. They use three entirely different technological environments, all of which are relied upon to generate incredibly secure keys that protect huge swaths of the wealth of the world. They didn’t make this stuff up from scratch, they are relying on the most secure key generation infrastructure in the world. 11. All the @Bitkey software is open source, and you could’ve figured that out with one query of any search engine or AI. 12. See link above for deep dive on whether @Bitkey code is doing what it says it’s doing. You don’t have to be a technical genius to read through that and see that it makes sense. 13. We did NOT all recommend @COLDCARD. I have always been recommending @Bitkey. Stop saying everyone was recommending @COLDCARD. I was not and never have been. 14. You say that @Bitkey sounds like using a @COLDCARD and using your own entropy, but none of that makes any sense at all. You clearly do not understand how @Bitkey works, because you never bought one, and yet you are doing a negative review about a product you don’t understand and never purchased, even though I sent you $500 of free bitcoin to buy one. Once again, doesn’t doing a video like this potentially seem beneath you? 15. The private key in the cloud is encrypted at rest. It never crosses the Internet, and therefore is not subject to encryption bans like in the UK. Again, the code is open source. 16. You can see that the key that is sitting in the cloud is encrypted because the software code is open source and has been verified by many people, including the link above, that that is what it is doing.

JUST GET TO 1 $IBIT

it is the people from Block ( Bitkey) who found out about the cold card bug while they were verifying if there system was flawed. found nothing and then continue auditing until they found the cold card bug

It’s all a different degree of trust models across the board. Congrats on figuring that out. But your lack of technical knowledge makes this video useless to anyone looking for actual information.

The software is open source :) The Block team has been über transparent and out in the open, especially since the CC catastrophe, quick to answer people's questions and address concerns. I am confident with Bitkey. I had to take into account user-error, and I know there are trade-offs. You make a valid point about Dorsey and how he complied with the government with Twitter. 😒That's something I've considered too. But ultimately, I don't want all my BTC on any exchange. I love that my kids have access with their fingerprints (people lose their minds over the biometrics...I guess they aren't using an iPhone? Even so, the prints are just for the hardware device itself) I like that I can approve a set amount to move daily without needing the hardware device. I LOVE that I'm not responsible for entropy and keeping seed words safe, but accessible. I can't remember why I walk into a room sometimes. Don't trust, verify is supreme, but in some cases I have to trust and I'm confident that I've chosen the solution that works for me. :)

Here is my full response:

2035: British migrated his precious pure Bitcoin 10 years ago fully into IBIT British has a "strong" opinion on a topic that goes against the official narrative He also has an unpaid parking ticket So IBIT froze his account until further notice British choose comfort

Why are you so arrogant when you told people to buy MSTY 😂

You make good points. Self-custody is starting to feel a lot like kabuki theater. We always end up trusting someone. I'm starting to think that if you have more than $50K in Bitcoin, its time to start thinking of institutional custody.

@TimKotzman Follow your third rule, shut the f*ck up

ColdCard is so complex & it people who use it lose all their money . While simple to use hardware are still somewhat safe 😂

We all have to trust somebody.

You didn’t even buy one after @JoelBomgar sent You BTC to review it. You’re a scum bag @BritishHodl

You just gave the argument for why Bitcoin is currently dead. 5 miners just announced to the world that BTC is centralized and that you have no way of verifying who makes the decisions or why.

Another great video 👍 To answer your questions: Maybe it is, but I wouldnt say that for sure. The King is Dead, long live the King. You cant. (Unless you are: a cryptographer, a software developer, a cyber security consultant, an electronics device manufacturer (who also makes your own components), a Bitcoin protocol and blockchain officianado, a network programmer, an Ai whizzkid AND a financial consultant. A cobbler never mends his own shoes. Nor should he.

All nice great video but are you aware that if nobody self-custody their Bitcoin, the network centralizes and dies, including the ETFs?

I spend a lot of time thinking about this paper when I work. "Reflections on Trusting Trust" -Ken Thompson

What about IBIT FEES??? IBIT charges 0.25% annually on your “stack”. Over time, it’s a drag!!

😂🤡

Thank you for verbalizing what ALL of us are thinking!

These are subjects and concerns every Bitcoiner should be pondering. At the end of the day you have to feel comfortable with your decision. Step #4: don't keep all your Bitcoin in one place

@TimKotzman Get to the point. X needs 6x playback speed.

Great video and perspective

Bitkey is not the next best wave it’s @SeedSigner Tap Tf in

Buttkey? 🤣 @COLDCARDwallet with its flaws is still infinitely superior. Just generate your own seed words.

@_ARob Telling people to trust Coinbase and blackrock instead…

great video... 👍 Buy #Bitcoin #BTC $BTC #IBIT Be Happy!

📢 Key Disadvantages of Bitcoin as Financial Infrastructure 🚨🚨🚨 Bitcoin pioneered decentralized digital money, but its design also creates significant limitations when considered as high-volume global financial infrastructure: 1️⃣ Extremely high fees can occur — As demonstrated by this transaction, the user paid 160,343,885 sats (≈1.60 BTC) in fees, reportedly around $103,000. 2️⃣ Unpredictable transaction costs — Bitcoin fees are driven by demand for limited block space, meaning transaction costs can rise sharply when network demand increases. 3️⃣ Limited throughput — Bitcoin processes only around 7 transactions per second, making its base layer difficult to scale for global, high-volume payment activity. 4️⃣ Slow settlement — Bitcoin operates with approximately 10-minute blocks, and users commonly wait for multiple blocks before treating a transaction as sufficiently settled. This can be unsuitable for applications requiring instant payments. 5️⃣ Poor suitability for small payments — When transaction fees become substantial, sending small amounts of BTC can become economically inefficient. 6️⃣ Fee-market competition — Users compete for limited block space, with higher-fee transactions generally receiving greater priority for inclusion. 7️⃣ Fee-estimation risk — Setting the fee too low can result in prolonged waiting, while setting it too high can lead to unnecessary expenditure. 8️⃣ Energy-intensive mining — Bitcoin’s proof-of-work security model requires substantial computational resources and electricity consumption. 9️⃣ Limited programmability — Compared with smart-contract platforms, Bitcoin intentionally provides a more constrained scripting environment, limiting the complexity of applications that can operate directly on its base layer. 🔟 Scaling often requires additional layers — Solutions such as the Lightning Network can improve payment speed and costs, but they introduce additional infrastructure and complexity rather than providing those capabilities directly on Bitcoin’s base layer. 💥 Bottom line This transaction provides a striking example of one of Bitcoin’s fundamental infrastructure challenges: limited block space can create a competitive fee market in which transaction costs can become extraordinarily high. For a network intended to support global, high-volume financial activity, Bitcoin’s design involves significant trade-offs between its decentralized security model, scalability, settlement speed, and transaction costs. #Bitcoin #BitcoinFees #BitcoinScaling #BitcoinTransaction #Blockchain #BlockchainInfrastructure #Web3 #Crypto #Cryptocurrency #DigitalAssets #DeFi #FinTech #Payment #GlobalPayment #Stablecoins #LayerZero #AtlantisChain #ATC #BlockchainTechnology #FutureOfFinance

🤔 C.R.E.A.M = Cash Rules Everything Around Me!

Well don’t even need to go back that far. Look at what happened to FTX.

who would use bitkey when @trezor invented the category, and hierarchical wallets, and the dictionary method for keys, their device uses multiple adequate methods for creating entropy plus you can add a really long stupid password. not advice of any kind

I hear your heart you should really try give @Tangem a go with there seedless option

@TimKotzman Im so glad ibit doesnt have 3rd parties. 🤣🤣🤣