Unstoppable Bitcoin Wallets

Unstoppable Bitcoin Wallets

this is Matthew crder from Bitcoin
University today I want to show you how
Unstoppable Bitcoin wallets can be
governments have recently been flexing
their muscles and trying to stop Freedom
money this is why they’re going to lose
because bitcoiners are smart bunch of
people we’re also crazy motivated
obsessed Freedom Seekers we’re not a
bunch of government stupid government
rent Seekers with 9 to5 jobs and 2hour
Martini lunches so if you close one exit
we’re going to find another I would say
good luck stopping the Bitcoin virus we
know how well that worked last time good
luck stopping software code and people
in 195 countries good luck stopping
Bitcoin wallets and I want to show you
in this video how difficult that is
going to be for example if you need a
free and open source desktop laptop
Bitcoin wallet you can use Sparrow
wallet if this website were ever to be
taken down this thing would be hosted
Elsewhere on GID and many mirrored
locations I imagine if you want to learn
how it works you can go to this video
which link to in the description notes
below Beware of the telegram room for
Sparrow there are a lot of scammers
there who will try to get you to give
them your 12 words and also make sure
you’re downloading this from the correct
website check the URL if you know how to
verify release uh or if you don’t if you
want to learn how to do it there are
notes down here how to do that as well
to make sure that you’ve downloaded the
correct piece of software but this is a
great uh desktop and laptop Bitcoin
wallet that we’ve talked about before
now it’s not available for mobile so
what about about Bitcoin wallets for
your phone unfortunately as we’ve been
seeing in the last week phone app stores
are centralized point of failure for all
apps really but especially for Bitcoin
wallets these days this is because
governments can apply pressure to Apple
or Google and this duopoly makes it very
easy to censor your app or what
governments can do instead is they can
just apply some sort of adjacent
pressure and cause companies to
self-censor their own products so they
don’t end up in jail like the samurai
guys did that Samurai wallet guys who
were arrested last week and this has had
the ripple effect of other companies
pulling out of the us as well for
example async the maker of the Phoenix
wallet uh in this tweet says recent
announcements from us authorities cast a
doubt on whether self- custodial wallet
providers lightning service providers or
even lightning notes could be considered
Money Services businesses and be
regulated as such and this is why they
decide to remove Phoenix wallet from the
US app stores and if you uh still have
Phoenix wallet make sure you drain it
before uh May 3rd uh Friday of this week
this is something we talked about before
uh late last year what happens of big
Tech bans Bitcoin wallets or governments
ban Bitcoin wallets and in that video we
talked about Mutiny wallet which has
just gotten better in the meantime this
is a wallet that you can run out of
either of the app stores you can also
use it in a browser which makes it
especially interesting that’s what we’re
going to talk about in this video but
first if you’re finding this video
helpful I just ask you to help to
support the channel by clicking that
subscribe button leave a thumbs up or
like leave a comment question suggestion
for a future video also share this video
with a friend or family member that
would really help the reach of this
channel so Mutiny wallet is a self-
custodial lightning wallet it’s not an
onchain wallet it’s a lightning wallet
the lightning network is just this layer
two that’s built on the Bitcoin base
layer still uses the same money it still
uses Bitcoin or sat Satoshi they are 100
million Satoshi in one Bitcoin now the
lightning network is often much cheaper
and faster to use than onchain Bitcoin
especially when transaction fees are
quite high on the base layer lightning
Network makes a lot of sense for small
payments like buying a cup of coffee
there’s no real reason to do this on the
bass layer buying a cup of coffee
sending money to a friend now what the
Mutiny wallet does is it spins up a
lightning node in your browser either on
your phone or on your laptop or desktop
and if you think about it that’s just
amazing that someone figured out how to
run a lightning node inside of a browser
and then what it will do is it’ll
connect you to lightning service
provider and LSP to help you get inbound
liquidity into your channel and unlike
Phoenix which use the parent company’s
LSP Mutiny allows you to switch from one
one LSP to another as a regulatory
environment evolves so they’re this very
neutral piece of software that you can
connect to different pipelines if you
don’t have enough Bitcoin to pay the
onchain transaction fee that comes with
opening up a lightning Channel when you
first start using the Mutiny wallet you
can instead join AFF fedin which is a
custodial solution but this is a
solution that allows you to still use
the wallet while you accumulate enough
SATs to open up a lightning Channel now
fenamin as we said it’s custodial it’s a
solution that’s secured by a community
multi so it’s much better than trusting
a single custodian like coinbase you
have multiple custodians working
together and they need to sign a uh a
multi-sig transaction in in order for
the Bitcoin to be moved so this is the
kind of thing we’ve we’ve theorized that
for example a village or Community would
have their own uh fedt and if you trust
the people who are running the uh the
Federation then you are fine with them
maybe you trust them in your community
one of them is your lawyer one of them
is your doctor one of them babysits your
kids and so you trust them enough with
your kids so you’re certainly going to
trust them enough to be part of a multi-
sake custodial solution so again it’s
much better than a single point of
failure custodian like coinbase and what
perhaps will happen is different fedt
will be competing globally to win trust
you can also have different fediman in
different countries their Guardians can
be in different jurisdictions as well
the thing is once you’re inside of a
fedt fedt allow members to send chami
and eash to each other in an extremely
cheap and private manner where even the
fedt Guardians can’t see who is sending
how much money to whom and they can’t
see how much money you own inside of the
fedin so it’s a little bit little bit
like a bank but much much uh much much
better this CH and ecash that’s used
inside the fenan it’s provably backed by
Bitcoin itself so it’s not it’s not
another token it doesn’t require a
another cryptocurrency you can think of
fedt maybe like Global islands and then
these Global islands are connected to
each other globally by sending Bitcoin
to each other across the lightning
Network so you can easily move from one
fedt to another now once you have enough
Bitcoin or SATs inside of your Mutiny
wallet you can then exit the Fed that
you’ve joined and use the proceeds to
fund a lightning Channel or even move in
onchain U Move the the Bitcoin on chain
onto the Bas layer where you you’ll
actually own a utxo now Mutiny as we
said it can be used in any browser it’s
actually a progressive web app at pwa so
no app store is needed in order to ban
Mutiny wallet you would need to ban
browsers on computers and phones and
that’s something that Elizabeth Warren
can have fun uh trying to do so next
thing we’re going to do is we’re going
to go to my iPhone install Mutiny and
then show you a little bit how it works
so here we are inside of the Brave uh
the brave browser I went to Mutiny
wallet.com and you have an option here
of downloading it in one of the app
stores the Apple App Store or Google
Play Store there’s no reason to do that
now because this is one of the things
we’re trying to actually work around by
learning how to use this as a
progressive web app so now we can just
click use in browser if you already have
a mut new wallet this will allow you to
import your existing seed wordss what
we’re going to do here is click new
wallet and it’s going to build a new
wallet for us inside of the browser then
we can name oursel you can add a
lightning address if you have it you can
also change your avatar up here then we
just click create and it’s going to
create a wallet for us this is the point
at which you can decide whether you want
to join one of these fedt one of these
federations you can scroll down here and
see a bunch of different ones I’m just
going to go with this top one you can
actually skip it um and actually I’m
going to skip it for now just to save
some time but all you need to do is
Click add if you want to add one of
these federations and start using
fedin I’ll click skip for now okay so
now we’re on the home screen and
actually I think because I’m going to be
sending a very small amount of Bitcoin
that I actually will join a federation
just to make sure that uh works the way
I think it’s going to do so I’m going to
add uh the freedom one uh Federation
okay now that I’ve joined the freedom
one fedt or Federation I’m just going to
click on profile and then I’m going to
click on home and I’m going to first
receive some SATs so in order to do that
I’m going to click receive your first
SATs and I’m going to receive let’s say
30,000 SATs click done uh click continue
now I’m just going to copy this QR code
and then I’m going to go to my Phoenix
wallet and send the money over so I’ll
click Send and I’ll paste from the
clipboard allow paste I’m going to pay
with lightning which will be a little
bit cheaper and I’ll click pay and it’s
taken it out of there so then let’s go
back and take a look at our Mutiny
wallet so payment received we just
received a 30,000 SATs which is
currently about $18 $19 and there was no
fee to receive these STS we did not need
to open up a lightning Channel because
we are trusting the Federation so that’s
basically how it works the next thing
you should do is you should go up to the
m and you should go under backup right
here and you should write down your 12
words this is the only way to back up
this wallet if your phone is destroyed
or something goes wrong in your browser
so this is very important uh to do
before you use it so that’s the basic uh
the basic functionality of this we will
come back at another time and look at a
little more detail as I pointed out
before but I want to reiterate that
Mutiny wallet is not a lightning service
provider as they say in this tweet we do
not run a node or LSP we interface with
others you may open channels to any node
we never process any lightning Channel
payments onchain transactions utxos Etc
our lightning address server is built
with blinded Authority and we can’t link
payments to your node so they’ve done a
very good job of making the par parent
company very neutral here now what would
happen if the Mutiny wallet decide to
block us residents and citizens from
accessing its website in that case you
could just use I suppose you could use a
VPN or you could use T as well from
anywhere in the world so it’s really
impossible to stop Bitcoin wallets as I
hope I’ve begun to suggest in this video
but here’s why at a more fundamental
level a Bitcoin wallet is ultimately
just a very long random number so as
we’ve talked about in other videos I can
toss a coin 256 times and use the result
to create a Bitcoin wallet if I I needed
to and then I can receive Bitcoin into
that wallet even without being online or
having an internet connection I can then
store my private Keys as 12 words in my
head I can convert that long random
number to 12 words I could also embed a
Bitcoin receive address in a song or in
a painting I could share a Bitcoin
receive address from the same wallet
using a QR code using smoke signals
using Braille Etc so you can encode
information in any form that you want
and the fundamental basis the
fundamental base of a Bitcoin wallet is
this very long random number so this is
something that’s very very difficult to
stop I’m not sure regulators and
legislators understand how Unstoppable
Bitcoin is as money and I want to to end
this video with my Bitcoin Pizza QR code
a pizza like this is just another way to
encode the information that you need for
a Bitcoin receive address so while she’s
add it Elizabeth Warren should start a
bill to ban pizzas if you enjoyed this
video be sure to hit the subscri
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thanks all for watching and I’ll see you
in the next video

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In this video, I discuss how Bitcoin wallets are unstoppable, using both the Sparrow Wallet and the Mutiny Wallet as examples.

If you are going to ban Bitcoin wallets, you will also need to ban random numbers and other math.

Not investment advice! Consult a financial advisor.

Sparrow Wallet:
https://sparrowwallet.com/download/

Samourai Wallet Founders Arrested:
https://www.nobsbitcoin.com/samourai-wallet-founders-arrested-and-charged-with-money-laundering/

Phoenix Wallet pulling out of US:

Recent announcements from US authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such.

— ACINQ (@acinq_co) April 26, 2024

On May 3rd, 2024, @PhoenixWallet will be removed from US app stores.

Users from the US should empty their wallet:
– Settings > Close channels (Android)
– Settings > Drain wallet (iOS)

We highly recommend *not force-closing* channels, as on-chain fees could be significant.

— Phoenix Wallet (@PhoenixWallet) April 26, 2024

What Happens If Big Tech Bans Bitcoin Wallets?

Mutiny Wallet:
https://www.mutinywallet.com/

Apple disables PWAs in EU:
https://www.nobsbitcoin.com/apple-confirms-ios-17-4-disables-progressive-web-apps-in-the-european-union/

A foolish and malicious cop out by @Apple.

What this means for Mutiny users? If you've installed as a PWA, the data is segregated. With the new update, Apple will bounce you to safari, which still works. However, it'll be at a blank slate.

Be sure to back up your seed phrase! https://t.co/HBR8JbJXN6

— Mutiny Wallet (@MutinyWallet) February 15, 2024

Mutiny is not an LSP:

Not an LSP:
– We do not run a node or LSP, we interface with others
– You may open channels to any node
– We never process any lightning channel, payments, on-chain txs, UTXOs, etc.
– Our lightning address server is built with blinded auth and we can't link payments to your node

— Mutiny Wallet (@MutinyWallet) April 26, 2024

Download the Tor browser:
https://www.torproject.org/download/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#wallet

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