btconboard #LNHANCE or #CTV on Nostr: I love the Block team and they’re making reasonable trade offs on the Bitkey for a ...

I love the Block team and they’re making reasonable trade offs on the Bitkey for a totally noob user with small funds. However for anyone who has a decent sized stack and is not a noob I believe it’s the wrong set of trade offs. In the Bitkey model effectively you have two hot keys (phone and key server) which is a big trade off even if it’s source viewable (it is not FOSS), and your hardware wallet has no screen so you could easily approve a transfer to an address other than you intended if someone has hijacked your phone and what appears on its screen. The Bitkey is a $150 glorified yubikey. This is fine for noobs and small amounts, I would not trust with large amounts. It’s great for mitigating some basic theft and loss of key scenarios, but beyond that is quite limited. Hopefully in future iterations we get FROST and other enhancements.