Bitcoin in Brief Saturday: Hide Your Seed
Today’s Bitcoin in Brief is all about you. Specifically, it’s about how you should be hiding your wallet seed and locking down your op-sec to prevent any fools from jacking your crypto. We’ve got all that, plus a cornucopia of other juicy morsels in your daily roundup of the last 24 hours in bitcoin.
Also read: Bitcoin in Brief Friday: That Green Candle
Hide Yo Crypto, Hide Yo Seed
When it comes to concealing your wallet seed, it needs to be impossible for anyone else to find, but still easy enough for you to recall where you’ve stashed it. Trezor have dispensed a few practical tips on how to achieve this. They’ve left nothing to chance in their guide for the ultra-paranoid, including advice that you should “Mind the CCTV cameras in your vicinity”. You never know who’s watching.
If you’re enough of a bitcoin bigshot to be recognized on the street, don’t carry your wallet with you. Or you could take the approach favored by former Bitgo engineer Jameson Lopp (Bitgo CTO Ben Davenport has just announced he’s leaving the company, incidentally):
Testnet bitcoins. Or as some people like to call them, “litecoin”.
Bitcoin Crazyness Is a Bad Name for a Good App
Bitcoin Crazyness is a naff name for a very good cryptocurrency tracker app. It’s got all the usual features you’d expect, but what’s cool is there are trading signals built in, such as moving averages and fibonaccis. You can even set alerts for the best time to buy.
Halong Mining Delivers the Goods
Halong Mining, a Bitmain competitor, was behind schedule on shipping its ASICs which a good many miners had shelled out for. Some people, including Bitcoin.org’s Cobra, had been adamant that the company was a scam, and would never deliver its Dragonmint 16T, billed as “the world’s most efficient Bitcoin miner”. Well now it has, forcing Cobra to eat his words, but at least he was gracious about it:
Bmex Exchange Gets BTFO
Japan’s Financial Services Agency has been flexing its muscles in the wake of January’s Coincheck hack, and it has no qualms about clamping down on impropriety. On March 5, the FSA inspected the country’s Bmex exchange and it didn’t like what it saw. As a result, it’s now suspended the exchange until June 12 while it gets its affair in order. Bmex in turn has apologized to its customers. Japan’s remaining exchanges will be treading very carefully from now on.
How to Use Crypto Reddit
You’d think Reddit was easy enough for even a newb to master. In fact r/bitcoin is where many crypto newcomers start out. This hasn’t stopped Token Report from issuing a guide to navigating crypto subreddits. It’s found there to be 62 active crypto boards, and observed the smaller communities to be the most engaged. It notes: “There appears to be attrition in total community engagement, or the percentage of subscribers online at any given point, after about 2 years of a subreddit being created.”
The question is, is this due to users getting bored of the altcoin or bored of the network?
We’ll leave you with this thought, which many crypto traders can surely relate to:
Do you have your wallet seed hidden in a safe place? Let us know in the comments section below.
Images courtesy of Shutterstock, Twitter, Token Daily, and Halong Mining.
Need to calculate your bitcoin holdings? Check our tools section.
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