The Bitcoin Standard Toolkit is a selection of the Bitcoin services I recommend to readers and learners on saifedean.com, as they upgrade from The Fiat Standard to The Bitcoin Standard.
NYDIG is a leading full service financial services firm dedicated to Bitcoin, applying institutional wisdom and ingenuity to help clients access the unrealized potential of this emerging asset class. NYDIG offers the full suite of financial solutions needed for financial institutions to access Bitcoin, from custody, execution, financing, treasury solutions, integration partnerships, and more.
The team behind NYDIG bring decades of experience in the financial and passion for sound money to help provide the rails that will bring about a move to The Bitcoin Standard. I have been working as a consultant for NYDIG for two years now, and I am very impressed with their vision, focus, and execution. I highly recommend reading NYDIG CEO Ross Stevens’ recent letter to shareholders to get a sense of the importance NYDIG attaches to Bitcoin. An excerpt:
“Perhaps just in time, each U.S. citizen now has a choice. You can stay on the Fiat Standard, in which some people get to produce unlimited new units of money for free, just not you. Or opt in to the Bitcoin Standard, in which no one gets to do that, including you. With the option, now, of a monetary system governed by rules instead of rulers, on behalf of myself, my family, and the firms I’m responsible for leading, I’ve made my choice.”
To secure your bitcoins, it is important to keep your seedphrase backed up safely, and for that, I highly recommend using the CypherWheel seed storage device, a gorgeous and brilliant sturdy piece of low time preference engineering from a fourth-generation machine shop in Maine.
The Cypherwheel is machined from solid Stainless Steel, and its unique and elegant design is inspired by secret decoder rings, as well as legendary mechanical engineer Franz Reuleux and the Golden Age of machine design.
If you’ve read the Bitcoin Standard you’ll know I think the late nineteenth century was a golden age for many facets of human advancement, because of hard money. Bitcoin is bringing hard money back, and our friends at Cyphersafe are giving bitcoin the low time preference machines it deserves from the golden age of design! Go to Cyphersafe.io to get the Cypherwheel for your bitcoins!
As discussed in The Bitcoin Standard, bitcoin is controlled by the nodes that operate its software.
It is only through consensus between nodes that the bitcoin blockchain continues to live, and it is only by running a bitcoin node that you are part of this consensus, and can verify the validity of the transactions you receive and the ownership of your coins.
Whenever anyone asks me what are the most important warning signs that something is wrong with bitcoin, I always answer the following: if the number of bitcoin nodes is declining, and/or the cost of running is rising significantly.
I believe it is really important to run a node, but I don’t recommend running it on your work or personal computer, as it can compromise the performance of your computer and, more importantly, the security and privacy of your bitcoin node. A far better solution is to buy a dedicated hardware node, and for that, I highly recommend Nodl.
Manage all your bitcoin activity, such as lightning or BTCPayServer, and isolate them from your personal computer by putting them into one dedicated device that is always running and does one thing only: bitcoin.
Become a first-class citizen of bitcoin by running your own nodl node, available at nodl.it!
My hardware wallet of choice is the Coldcard. I strongly recommend only conducing bitcoin trades on computers that are dedicated to bitcoin and cannot connect to the internet. I like the Coldcard because it is a contained machine optimized for bitcoin and bitcoin only.
Coldcard is basically a small computer that can only do bitcoin, which makes securing it more straight-forward. Use the code BITCOINSTANDARD on coldcardwallet.com to get a 5% discount.