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Author Topic: MY NEW WALLET SEED: How can I use this to backup my Bitcoins ????  (Read 324 times)
HardFacts (OP)
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January 09, 2020, 04:15:10 PM
 #21

Seed is very important thing you have to secure before setting up your wallet. Never disclose this seed to anyone and always write this on paper. Never store this on your computer. I have many times lost access to my standalone wallet installation and every time this seed helped me in getting my coins back.

Thank you for the advice, but I never use Paper, that is something my grandfather would have used  Grin Grin Grin  I do make my BitCoins secure and unhackable by keeping them offline in a USB stick.

Cimmy_revenger
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January 09, 2020, 04:25:49 PM
 #22

writing on paper is better than storing in soft form. ( files on the computer, mobile ) or better still remember in the brain but that is not possible because most people forget their nature.

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January 09, 2020, 04:40:06 PM
 #23


You got to treat those 12 words like they are the keys to life itself, nobody should
know them.



Can a BitCoin expert please confirm this:

This is for Online exchanges ONLY  Huh   I assume nothing can ever hack my bitcoins I have on a USB drive not connected to any network Huh

This is wrong. All wallets are the same, the difference is where its being used from (a remote server vs your own pc). Online wallets often do NOT give you the privkey (seed words). When they do, they are being very nice and transparent but this is seldom the case (Some DEX do).

The money is not in the wallet. It NEVER is. The money is always in the "cloud", so called blockchain (this is also the reason Bitcoin isn't in any specific country but in all). The wallet is the key that allows its owner to move them. If you have the seed words you can recreate this key anywhere at anytime. Therefore these seed words need to be protected the most, and preferably should not see an electronic (hot) device ever. That is the point of writing it in a piece of paper with your own hands vs an usb thumb that needs to be plugged at some point (copy paste, printing, screen shooting and taking picture should be also avoided).

Truly the word wallet is a bit of a misnomer, maybe something like keyring would be more accurate, but i guess its easier for the masses.

You can create and recreate a wallet in a secure computer not connected to the internet, that loses its memory once turned off (a live iso such as Linux Tails OS), and manually broadcast generated transactions from a connected computer. A paper with words is truly "unhackable" as long as its kept (physically) safe. Preferably you would manually hand-write copy this into another paper and store it securely at a different physical location, in case something happens to the first one.

With the seed words you can recreate the wallet even if you lose it. The password is not used, but its important to keep the wallet encrypted while "hot" (in use).

The seed words could be theoretically saved in an encrypted text file in an usb thumb, but you'd better not lose the password... And remember that handling that is the most risky part, certainly don't use a windows computer connected to the internet...

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January 09, 2020, 05:44:49 PM
 #24

My BitCoins are stored here, and I never leave it connected, so it is impossible to take the Bitcoins out even if you have the wallet seed <…>
You must be getting your kicks out of repeating the same fallacy, in a veil attempt, and likely under false pretence, to give the impression that you are not aware of it. Reiteration is not providing enough entertainment, so let n=n+1 and let’s reiterate (you) and wait for someone to take the bait (me) for the sake of fun.

The side effect of this is that, the number of potential readers misled are greater than the m responses to your n reiterations (where m > n) on this likely false naivety, creating an aura of untrustworthiness around you profile which may well end-up where we know.
HardFacts (OP)
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January 09, 2020, 06:24:47 PM
 #25

I just checked and all my BitCoins are still in my account.   Storing everything on a disconnected memory device like a USB drive is the best and safest solution for me.   So many people use their phones for everything, they do not even think about better, offline storage options for BitCoin.  I have been reading about some of the losses that people have posted here that are preventable.  I think online storage is why so many BitCoins are hacked or stolen. 

Cimmy_revenger
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January 10, 2020, 11:14:14 AM
 #26

I just checked and all my BitCoins are still in my account.   Storing everything on a disconnected memory device like a USB drive is the best and safest solution for me.   So many people use their phones for everything, they do not even think about better, offline storage options for BitCoin.  I have been reading about some of the losses that people have posted here that are preventable.  I think online storage is why so many BitCoins are hacked or stolen. 

Have you tried making a bitcoin wallet in the form of a hard drive like that and you access your wallet online but without a hard drive ?

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