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1  Bitcoin / Bitcoin Discussion / Re: Can I just delete my wallet and use my 12-word recovery key as my “storage”? on: June 08, 2020, 09:36:55 PM
12 word passwords disgust me

May I ask, is this a personal preference, or is there a technical reason why this might not be a good idea?
2  Other / Beginners & Help / Re: Find holes in my cold storage on: June 08, 2020, 07:59:21 PM
Aside from what will be the most common issue is I need another computer (use a separate machine, airgapped, never connected ever), what holes are there in my strategy?


Why did you decide to write down your private keys, instead of writing down the seed phrase that Electrum generated for you? There are multiple benefits to using the seed phrase instead of private keys - easier to read, easier to type back in, harder to make a mistake, built in checksum, will generate private keys for all your addresses rather than just one, no risk of losing change, etc.

Thank you for your response.

I mis-typed... I *did* write down my 12 word seed phrase.

I will research how to boot Tails from a USB stick. 
3  Other / Beginners & Help / Find holes in my cold storage on: June 08, 2020, 07:29:01 PM
(Reader of this board for a year, this is my first post).

Please find holes in my cold storage strategy.

Here's what I did:

- downloaded Electrum 3.3.8
- verified GPG key of the software sig via GPG Suite
- create a copy of the download and moved it to a dedicated USB stick
- installed Electrum on primary computer profile, and then....
- went offline
- created new user on mac (this new user has never been online)
- copied electrum and installed again on this new profile
- created new wallet, wrote down private keys *edit* wrote down seed
- copied the xpub to a text doc on USB
- copied one of the receiving addresses to a text doc on USB
- logged out and went back to the main user, back online

Ok so now my private keys *edit* seed are forever stored offline.  I secured them.  

Now I take the xpub and load up a "watch only" wallet.  

Now I want to test a transaction in and out.  I sent a small amount to one of the the receiving addresses of the cold storage wallet.  Verified on blockexplorer and in Electrum in the "watch only" wallet.

Now I want to test moving a small amount out of this wallet.  I create the transaction, and save it to the USB.  Go offline, logout.  Now login to the other profile, and "sign" the transaction.  Save this to the USB.  Log out.  Now I login to the main profile, load up the signed transaction in Electrum, and the transaction works.  Verified on blockexplorer, verified in the "watch only" wallet in Electrum.  

Last step - go back into the offline profile and fully delete Electrum.  



Aside from what will be the most common issue is I need another computer (use a separate machine, airgapped, never connected ever), what holes are there in my strategy?
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