Oddbean

Your wallet doesn't store #bitcoin. Hardware wallet are not made to store sats. They are meant to create your seed phrase, and you are supposed to store it.. is your keys that have the ability to move your sats. Not your key, not your #bitcoin. https://i.nostr.build/vQqW3v0DMrlHEJqC.jpg (Maybe we should stop to call them "wallets")

This is a critical distinction. I personally feel it’s much more intuitive and accurate to call them hardware signers. I’ve had to explain to everyone I’ve set up with a hardware signer that the Sats are not on the device, they never leave the Network, and that the keys are the secret that enables them (or anyone who access to them) to move the Bitcoin. They really begin to understand when I walk them through the entire process and have them set up the hardware, copy the seed, and make a couple txs from exchange to self custody. And they start to understand the utility and gravity of Bitcoin at that point too.

I completely agree with you, the idea of storing and wallet, creates to much confusion and wrong parallels with the fiat system. My "aha" moment came when I got the idea of veing in total control of my sats.. "I can be my own bank.. oh fuck, we don't need bank anymore.. WTF!" I remember it like it was yesterday.

That’s how I explain Bitcoin to people who ask. I say something like: “Bitcoin is a free bank in cyberspace that operates with its own currency. There is no one in charge of the bank but anyone can buy the currency and anyone can use it. Bitcoin can’t be hacked and the rules of the bank can’t be changed so it’s secure and fair for everyone who chooses to use it. There is a finite amount of Bitcoin so everyone’s share of the money supply always stays proportional to the total supply.” It works pretty well and they usually have some follow up questions from that starting point.

It is what it is... I hear a bunch of people say they store their Bitcoin securely on their hardware wallet. It is technically incorrect, but also the most convenient shorthand we have for new-coiners, without having to get into the technical weeds. And really, when you think about it,if your physical wallet is just holding debit and credit cards, it's not holding your money either, just your keys needed to move it.

We need to be nore technical and do the right distinction IMHO. People need to understand the more how to use the most important and powerful tool we created "money". The better you can use your tool the better you'll live, create and produce.

In general, I agree, and I try to be consistent in calling them signing devices, rather than hardware wallets, but language tends to follow the crowd, and for better or worse, calling them hardware wallets or cold wallets has already stuck with a large amount of the community, including the more popular Bitcoin educators, who will be a major influence on new folks coming in. Examples: nostr:nprofile1qqspnzgrfett3asxcuj0gksje6z2zxzpvgd27uvz58m9vsuqh8zzw6cpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgqgjwaehxw309ac82unsd3jhqct89ejhxqg5waehxw309aex2mrp0yhxgctdw4eju6t0rjj54p titled this video on the ColdCard Q much like he has titled other similar tutorials: "Coldcard Q Bitcoin Wallet - Beginner Tutorial." Moreover, he opened up the video saying, "The ColdCard Q is a hardware device that allows you to secure your Bitcoin safely offline." https://www.youtube.com/watch?v=FiNCG-7EN4A&t=8 Though I am sure he knows very well that "wallet" probably isn't the most technically correct term, he also knows that is the term most new folks will be using when they search for tutorials, and thus the term ends up reinforced. Likewise, nostr:nprofile1qqstnem9g6aqv3tw6vqaneftcj06frns56lj9q470gdww228vysz8hqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzrthwden5te0dehhxtnvdakqz9rhwden5te0wfjkccte9ejxzmt4wvhxjmcjgxv3n has advertisements for ColdCard on his podcasts where he calls it a "hardware wallet," reinforcing the term in the community. https://fountain.fm/episode/wgkqiF4AAXgvn4PPowPO And I have heard numerous people, smart people who know this isn't really how it works, talk about one of the greatest benefits of Bitcoin being that you can take your Bitcoin with you in your head when fleeing a hostile country by just memorizing 12 words. So the ship has sailed as far as changing the term we use, except to personally help people understand what it actually means, when they are ready to dive into the technical aspects.

Rabbit Hole Recap, Bitcoin.Review, and a few other podcasts have switched to calling them "signing devices". Since that is a more accurate description of what they do. They are devices that sign transactions.