Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: NancyDeep on March 15, 2024, 08:38:38 AM
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A few hours after El Salvador publicly announced that most of its Bitcoin would be stored in a physically secure cold wallet, Bitcoin enthusiasts have already sent "Rare Sats" and Ordinal inscriptions to the wallet. According to Ordiscan data, there are at least 67 Ordinal donations in the wallet, including BRC-20 tokens, textual inscriptions, images, 3D "Runestone," and even a copy of the "Cypherpunk Manifesto" – a document written by Eric Hughes in March 1993, aimed at safeguarding privacy in the electronic age through encryption. Additionally, the wallet also contains approximately $700 worth of Satoshi donations.
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A few hours after El Salvador publicly announced that most of its Bitcoin would be stored in a physically secure cold wallet
This is interesting to hear that the government of El-Salvador has made another landmark achievement of allowing the use of a cold storage for the use of its people in the country, we know that cold storage is one of the best means to safely secure our bitcoin asset on the wallet, this will make everyone has the accessibility to using their asset at its best order of safety, but you would have added a link to this in case of next time.
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I didn't understand your post at first, so i had to do a little research on it, it is good to always post the source of what you want to discuss, this is the link for those who are interested:
https://cointelegraph.com/news/el-salvadors-bitcoin-wallet-vault-gets-ordinals-sats-donations
Bukele announced that they are moving a large portion of their BTC into cold storage, and since he is talking about storing the cold wallet in a physical vault, then he is talking about a hardware wallet, it is good they are making that move because the amount in question is huge. Bukele published their address and there have been donations sent to it, not bad at all.
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Bukele didn't say what device he is using as a cold storage, but I think he is doing a good job with this move, it would be stupid to hold all those coins in any hot wallet.
I am little surprised that he is not using bech32 bc1 address format, but older P2SH format with address that starts with number 3.