Errors
Daily Ramble
“Ya got me.” One of my favorite lines to say because it’s so unexpected to hear. How often do people cop to having messed up? It didn’t always bringing me joy to admit my mistakes, but these days, I rarely have more than a moment’s second-guessing before I do. And today is one of those days — in yesterday’s Ramble, I failed to mention that my new gig is only 5 hours per week. It’s a foot-in-the-door-to-a-new-industry gig. So no, I’m not going to be stopping my Daily Ramble — though you can unsubscribe if it’s spamming your inbox — and I’m still accessible for Bitcoin Q&A.
Why does it bring me satisfaction to own up to errors and mistakes? Some time ago, I prioritized being true to myself over saving face. It helps me sleep better at night knowing the face I present to the world is honest as I can be. My contentment with myself has increased as a result, though it’s a subtle thing, to be sure. Don’t get me wrong, the easier thing to do is often coat a situation with a little white lie. But over the years of keeping this ethos, I’ve discovered another, unexpected benefit: a stiffer spine. Being true to myself also makes it clear to me when something isn’t my truth.
Alright, now before you start thinking I’m elevating myself above the rest of the knuckle-dragging masses, it’s worth knowing that I do my best and mess up frequently — just ask my wife, whom I’m sure was rolling her eyes until reading this sentence.
Favorite Thing on the Interwebs Today
Nature has it, two days in a row.
Bitcoin Price Prediction
Yesterday: $32.2k - $36.5k
Today: $28.5k - $34k
Tomorrow: $28.5k - $35k
The bottom set Friday is looking a lot more tentative today. Price rallied strongly yesterday before my newsletter went out only to be sold off just as hard. The bottom created on Friday is being tested yet again. Support acts as support only so many times before it gives way and that is the current risk — support giving way. Although we haven’t dipped below the $30.8k price prediction I made yesterday, the odds are increasing that we will. That said, there are also signs that this is accumulation by big players and we may see a strong bullish impulse soon as buyers outnumber the sellers and a short squeeze occurs. If I had a gun to my head, I’d say price drops a bit and then goes up again, but we’re really at a pivotal coin-flip moment here.
Bitcoin Ed Bite
Q: What is a multi-sig Bitcoin wallet?
A: Multi-sig (multiple signatures) Bitcoin wallets are wallets where a combination of private keys are used to move Bitcoin.
Mult-sig wallets are considered the most secure to use. Because they require more than one private key to move the Bitcoin, it increases security and offers more room for mismanagement. For example “2 of 3 multi-sig” is a popular arrangement. This means that two out of three private keys are used to move funds — think of it like a bank check that requires more than one person signing to be cashed. Practically, each key is a separate hardware wallet. Each of these hardware wallets can be stored in separate locations making it near impossible for an attacker to coordinate a theft. It also means that if one private key is lost, the Bitcoin are still accessible through the remaining two keys.
There are currently two user-friendly approaches to setting up a multi-sig wallet. Unchained Capital and Casa. Casa is a bit more user friendly than Unchained Capital, but both are upstanding organizations.
Thanks for reading,
Kent
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