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David Pinkerton /
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2024-10-01 00:15:31

David Pinkerton on Nostr: 🔒 Are Bitcoin Audits for SMSFs Secure Enough? 🔒 Recently, my SMSF accountant ...

🔒 Are Bitcoin Audits for SMSFs Secure Enough? 🔒

Recently, my SMSF accountant attempted to verify Bitcoin holdings by Googling a public address. While common, this practice has two major flaws:

1. It doesn't confirm control over the Bitcoin - only the balance.
2. It exposes sensitive information, like addresses and balances, risking privacy.

Here is a recreation of the screenshot sent to me. Of course, I used an address that isn't controlled to me to preserve privacy. Could an auditor tell that I don't actually control this address?

Author Public Key
npub1jz0rlhp9ngs3at2kfhzcnc62sxh0y9rxt40x3z003wmdguljky9quaaju6