"Bitcoin Wallets, What & Why" w guest Keith Mukai Ep 001 of "Bitcoin, for a better world"
Main developer of SeedSigner private hardware "cold wallet" signing device, Keith Mukai, teaches us some very basics of bitcoin wallets.
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Thank you to “Nocoiner John” and Keith Mukai for launching our pilot episode of “Bitcoin, for a better world!”
SeedSigner is a DIY (do-it-yourself) bitcoin hardware “cold wallet” which can be built privately in-home. Keith gave us an overview of how “the blockchain” keeps a master record of all the world’s bitcoin which has been mined to-date. (A future program with Bob Burnett is scheduled to help cover “What is bitcoin mining?”)
The Bitcoin network’s blockchain (originally called “timechain” by Satoshi Nakamoto) also publicly records all bitcoin addresses (i.e., like an email address or phone number database) and the amount of bitcoin each address admins, or “owns.”
Any person who holds the private keys (kinda-sorta the “password”) to their address (or, any address!) can, at-will, authorize the transfer of ownership of any amount of their bitcoin to another party, without a bank or third-party government required to “authorize” OR DECLINE the transaction. And there’s no takebacks. This is what really happens and what is meant by “sending bitcoin” from one person’s wallet to another’s. Nothing really moves or goes anywhere; sending bitcoin from one wallet to another is really just “signing” away the property rights to that quantity of bitcoin, hence the names “signing device” and SeedSigner.
But Keith explains it better!
Bitcoiners willing to offer Keith some sats as a tip for his time today and help support the SeedSigner project, click here!
However, for those just beginning to take the plunge, building one’s own wallet isn’t for everybody. Your simple, newbie-friendly “hot wallets” that are free* downloads to your phone include Muun & BlueWallet. *Today we’re just providing you some “as-is” links; each download should walk you through how to use them - and you must write down and save your words - do not photo or screenshot!!! Plus I recommend you read
and subscribe to Eric’s “The Bitcoin Letter.” - I read it!
Also on the recent program, we covered a few important stories, and here’s those links:
My article, “Doctor Bitcoin, Jailed for Selling Bitcoin P2P”
(My phone call with Doctor Bitcoin will be released on a future episode.)
“Investors Sue U.S. Treasury Over Tornado Cash Sanctions”
“Department of Justice Targets Regular Bitcoiners”
Follow the pod’s Facebook page for more throughout the week, and for wisdomous memes! (And there’s less action at my more professional Twitter profile.
And re: Nocoiner John, and “sending bitcoin without internet …”
These are stills from my video “Is Bitcoin The Mark of the Beast?” already advanced to where my answer on that begins. You might also like
Thanks also @plebsmemes on for today’s fun intro and outro music! The link is to the song but with the f word and dialogue that we had to take out, so sorry everyone about the delay getting this first episode to you!
Next week:
Newbie? This is not intended as financial advice, but I usually refer first-timers (U.S. citizens) to www.SwanBitcoin.com/guymalonecbp (affiliate link) to connect your checking account to make one-time or recurring debits to your bank account to purchase bitcoin (KYC required but see here when you’re willing to deep-dive). Swan has fantastic customer service and is 100% committed to your education!
