Theya (YC)

Imagine losing access to your entire Bitcoin stash because of one lost key. Scary, right? 🔑 Discover how collaborative custody eliminates single points of failure and keeps your assets safe. Time for a Collaborative Custody 101 ⬇️ 1/ Bitcoin collaborative custody is a security practice where multiple parties share control over a single Bitcoin wallet. This approach enhances security by reducing the risk of a single point of failure. 2/ In a typical collaborative custody setup, multiple keys are required to authorize a transaction. These keys are held by different entities, which can include individuals, organizations, or trusted third parties. 3/ This system is called multisig, short for multi-signature. It works like a digital version of a safe deposit box that needs multiple keys to open. 4/ Why use collaborative custody? It mitigates risks such as theft, loss, or hacking. Even if one key is compromised, the attacker cannot access the funds without the other keys. 5/ There are different multisig configurations. Common setups include 2-of-3, 3-of-5, and 5-of-7. The first number represents the minimum keys needed to authorize a transaction, and the second number is the total keys in the setup. 6/ Example: In a 2-of-3 multisig, three keys are created and distributed to three parties. To move the funds, at least two of these parties must agree and use their keys. 7/ Collaborative custody is ideal for high-value holdings, businesses, and anyone seeking enhanced security for their Bitcoin. It combines decentralization with security, aligning with Bitcoin’s core principles. 8/ Setting up multisig can be done using various tools and services. Each offers different features and levels of support. With Theya Essential, you can set up a multisig Collaborative Vault in a matter of minutes. We make multisig a delightful experience, not a painful one. 9/ Here’s a step-by-step guide to setting up a 2-of-3 Collaborative Vault in Theya: 1. Download Theya on both phones 2. Create a New Vault and choose 'Multisig' 3. Add the 1st key 4. Select 'Invite Trusted Contact' for the 2nd key 5. Add the 2nd key on Co-Signer's Phone 6. Done! 10/ Collaborative custody is a powerful way to secure your Bitcoin. It leverages the strengths of decentralization and multi-factor authentication to safeguard against various threats. 11/ As Bitcoin adoption grows, so do the tools and services supporting collaborative custody. Stay informed, choose your provider wisely, and secure your assets with confidence. To make your own 2-of-3 collaborative multisig vault, download the Theya app at https://theya.us/app

Look forward to the panel discussion about inheritance and estate planning at Bitcoin Nashville 2024. Join us 1 pm ET on July 27, Saturday. Moderated by Peter Dunworth. Co-panelists: Zachary Townsend and Matthew McClintock.

NEW POST 🚨 If The US Wanted To Build A Bitcoin Reserve, How Would It? by Joe Consorti READ IT 👇 https://lnkd.in/evJvjMXa

NEW POST 🚨 Bitcoin Soars 10% as Trump's Election Odds Rise 10 Points by Joe Consorti READ IT 👇 https://lnkd.in/eEKRw2Nx

It's hard to overstate the significance of Larry Fink, who oversees over $10 trillion in assets at BlackRock, consistently endorsing Bitcoin as a legitimate asset class for everyday portfolios. On a recent LinkedIn post, Bitcoin skeptics started piling on me for making a bullish call going into 2040s. Don't believe me? All good. But if don't believe Larry Fink, who admittedly went from being huge Bitcoin skeptic in 2018 to a 24x7 promoter of it in 2024, you need to rethink if you understand Bitcoin, economics and history at all. Larry clearly understands that Bitcoin is hedge against currency devaluation by countries running large deficits (aka the entire developed world). Larry understands that Bitcoin is exponential gold that helps you hedge against all sorts of looming geopolitical and economic crises. Bet against Bitcoin at your own peril ✊

Bitcoin's price & Trump's election odds are both up 9%. Trump has vowed to foster the best environment for Bitcoin globally, both as an asset and network. As such, the market is trading bitcoin in lockstep with his odds at another term in the White House. cc: Bitcoin Magazine + Theya (YC)

NEW POST 🚨 Germany Has Sold All 50,000 of Its Bitcoin by @JoeConsorti READ IT 👇 https://lnkd.in/ejCfSR2T

Germany sold all 50,000 of its bitcoin. The ~$2.2 billion that they cashed in isn't enough to cover 18 days' worth of interest payments on their national debt. Stupidity personified. Theya (YC)

Calling Bitcoin a fad is intellectually equivalent to calling Internet a fad in 1999. If you're short on Bitcoin today, it is financially a worse decision than being short on Amazon or Microsoft in 1999. Bitcoin represents the most asymmetric financial bet in the history of human civilization. It is a perfect hedge against all kinds of looming geopolitical and economic crisis. By 2040s, Bitcoin will be larger than the value created/accredited to the Internet in 2040s. Yes, you read that correct. Bitcoin will be closing in on ~$100 trillion market cap (current prices) by 2040s.

Bitcoin is literally the cloud version of a Swiss bank account. Everything you own, except Bitcoin, physical cash and gold coins, can be taken away from you. Every asset, except physical bearer assets you can hold, has a country risk of the issuer or the custodian. Now you may think that why do I need a Swiss bank account in the modern world. We need one, because we are living in unprecedented times wrt global conflicts and potential for black swan events, truly an Age of Polycrisis. As Ray Dalio has remarked: "If you don't own gold (or outside money like bitcoin), you neither understand history nor economics" Having an optimal allocation to unseizable hard assets like Gold and Bitcoin is your way of guaranteeing long term financial wellbeing. For every other form of savings or investments, you're putting an enormous trust in the archaic, frail and corrupt central institutions.