dizzyspells on Nostr: Basic, but really important question for the nostrverse. I'm spending some time ...
Basic, but really important question for the nostrverse.
I'm spending some time thinking about fund management, coin control, doxxing etc. as I start to move closer to being on a btc standard.
I'm thinking about where to store cleaned UTXOs & what happend if you have to use one for paying a bill which doxxes the change. Up to now, I've thought you should only put non-KYC'd UTXOs (e.g. from bisq) on a dedicated wallet, one which never touches KYC'd coins. But now, I'm starting to think it woud be ok to have both on one wallet, as long as I follow the basics rigorously;
- use new addresses for each deposit
- label all UTXOs, to avoid using rhe wrong one
- back up labels
- be careful not to dox a clean UTXO, by using for something that is delivered to my postal address.
- maintain the coin labels (in case I have no choice but to dox a clean UTXO, e.g. if I had to pay a large fiat bill - larger than any LN channel capacity in a hurry/under stress, with no time to go through p2p, so I'd just want to use strike to convert from sound money to fiat, so that I could put that fiat stress behind me).
- Never share my xpub (e.g. always export transactions explicitly as a csvfor tax reporting etc.), such that the unique address usage retains the privacy of the cleaned UTXOs
Am I missing something? Is this actually doxxing my clean UTXOs?
My alternative idea is to keep a wallet specifically for KYC'd UTXOs. This would be for 'trickle charge' savings, i.e. for those annual / every N-year bills. So those sats would not be a part of my strategic reserve, 'just' escsping debasement while I wait for the bill (undestanding that I must save enough to be able to cover the bill if it hits during an 80% draw down).
Any advice, particularly from people who've been living on the btc standard, greatly appreciated.
#asknostr
I'm spending some time thinking about fund management, coin control, doxxing etc. as I start to move closer to being on a btc standard.
I'm thinking about where to store cleaned UTXOs & what happend if you have to use one for paying a bill which doxxes the change. Up to now, I've thought you should only put non-KYC'd UTXOs (e.g. from bisq) on a dedicated wallet, one which never touches KYC'd coins. But now, I'm starting to think it woud be ok to have both on one wallet, as long as I follow the basics rigorously;
- use new addresses for each deposit
- label all UTXOs, to avoid using rhe wrong one
- back up labels
- be careful not to dox a clean UTXO, by using for something that is delivered to my postal address.
- maintain the coin labels (in case I have no choice but to dox a clean UTXO, e.g. if I had to pay a large fiat bill - larger than any LN channel capacity in a hurry/under stress, with no time to go through p2p, so I'd just want to use strike to convert from sound money to fiat, so that I could put that fiat stress behind me).
- Never share my xpub (e.g. always export transactions explicitly as a csvfor tax reporting etc.), such that the unique address usage retains the privacy of the cleaned UTXOs
Am I missing something? Is this actually doxxing my clean UTXOs?
My alternative idea is to keep a wallet specifically for KYC'd UTXOs. This would be for 'trickle charge' savings, i.e. for those annual / every N-year bills. So those sats would not be a part of my strategic reserve, 'just' escsping debasement while I wait for the bill (undestanding that I must save enough to be able to cover the bill if it hits during an 80% draw down).
Any advice, particularly from people who've been living on the btc standard, greatly appreciated.
#asknostr