/biz/ - Business & Finance

>>54346358
>Most of those statements are gross misscharacterisations or outright false.
>I will never understand the people who choose to live like this.
I think people are overly emotional and IMO it damages everyone in the industry. The people who do these things are not paid shills, it's just people who picked a different team (that's their perspective of these things) and they believe that by damaging monero they're lifting their own team (be it bitcoin, zcash, dollar, whatever).
It's based on emotions. The scene is full of emotional retards.
There's one guy in the Brazilian scene called "Renato 38" who wrote a book about bitcoin and who is very knowledgeable and he's been appearing in a lot of popular podcasts. He talks a lot about freedom, about privacy and about how the state hates you and that fiat is a ponzi scheme — lots of common sense to us but novelty to most. He goes to the extreme of saying that if you search for your own bitcoin address on an blockchain explorer you're doxxing yourself (he's not completely wrong). The point is that he always says that bitcoin is the only project worth anything and everything else with no exception are scams. I looked on his twitter for mentions about monero and he posted only once a few years ago saying that sidechains like Lightning and Liquid are more secure than the monero network.
I don't get it. It makes no sense to be against monero, even less if you're pro-privacy, pro-freedom. I'm not saying you need to become a cheerleader for the project or anything but come on.
It's mind boggling. They're too emotionally invested in this shit and they can't think straight. This is the only explanation.

>>29015089
>whats the purpose of even having a cold storage
The wallet on my phone is only for day to day transactions, to teach people about it, etc. It doesn't store all of my coins. It's akin to the wallet you pack with you.
The cold storage/wallet is more like a bank account or a vault. Somewhere safer, with less exposure to the internet, supposed to be away for a long time.

>then they would only be able to steal those funds but not all the coins you have in savings in your cold wallet?
even if they have the seed for your cake wallet, let's say:
banana survey car tiger
the seed for your cold storage would be:
banana survey car tiger <custom_word_1> <custom_word_2> that are stored exclusively in your brain. You can only restore a extended seed on the CLI as far as I know.

>>29015201
>why not just back up the seed in an encrypted file and store that in multiple places?
That works too. You can in theory even just backup the wallet files as they are encrypted too. There are many alternatives. It's very easy to install a Live Linux on a USB stick. I just like having the convenience of having a "vault" of sorts. I literally leave my will inside in case something happens lmao