thebitcoinkiddo
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May 03, 2017, 08:20:31 AM |
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It's something which seems crucial to me for reaching mass adoption (in addition to scalabilty of course...).
Already on this forum there is a shitload of people losing their Bitcoins by forgetting passphrases, the private keys, the dat file etc...
So I would like to know what technological solutions could be proposed for this problem.
To make a comparison, a lot of people are forgetting their credit card code (even if it's only 4 digits...) or losing the card and the centralized solution to this is the bank providing new card/code.
Which decentralized solutions to this problems could you think of?
Using other systems besides passphrases with a decentralized recovery option... Like having family store it with you. But that's also risky. Maybe something like a fingerprint, but just as unique but more secure would be good. |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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ice18
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May 03, 2017, 08:44:31 AM |
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We don't have to remember the passphrases/ seeds itself but we have to copy or keep it in a secured storage what we have to remember is that where it was stored on our portable drives, usb etc..sometimes we forgot where we copied some files and the tendency to delete it by anyone else who are using that storage..
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gringoprivelege
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May 03, 2017, 09:06:37 AM |
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We don't have to remember the passphrases/ seeds itself but we have to copy or keep it in a secured storage what we have to remember is that where it was stored on our portable drives, usb etc..sometimes we forgot where we copied some files and the tendency to delete it by anyone else who are using that storage..
So make copies on USB drives in different spots, or put it into a remote safe like your bank. |
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DoublerHunter
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May 03, 2017, 09:40:29 AM |
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Passphrase is created to be backed up and not to memorize or remember it, we should be write those passphrase into a clean sheet of paper and keep it into the safest place that we know so we don't need to bother our self in remembering the passphrase of our wallet and to be easily recover our funds when our wallet password is lost.
Even if you are able to memorize it you can forget it in any moment or anything can happen to you. People can write it in a paper and can make a copy in a txt file and keep it in a pendrive or a cd. Yes that is the best thing to do when backing up the passphrase of any kind of bitcoin wallet or even the altcoin wallet because that is how we can be safe and feel comfortable when holding a lot of coins in our wallet and if we just remember or memorize it then there will be a high chance for us to forget that and loss the funds. |
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BitcoinHodler
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May 03, 2017, 09:56:25 AM |
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We don't have to remember the passphrases/ seeds itself but we have to copy or keep it in a secured storage what we have to remember is that where it was stored on our portable drives, usb etc..sometimes we forgot where we copied some files and the tendency to delete it by anyone else who are using that storage..
So make copies on USB drives in different spots, or put it into a remote safe like your bank. USB drives lose their data if they are not connected to a power source in short intervals (i don't remember how long though you can research it yourself) this means holding your private keys, etc on a USB disk and coming back in a year or so to it may lead to a big loss. |
Holding Bitcoin More Every Day
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Doms
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May 03, 2017, 10:26:38 AM |
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Such is the case for the older generation, especially those in their mid-lives already. I, myself, admittedly keeps forgetting passwords for oh so many different online accounts from time to time. But for things that has to do with my financials, I make it a point to have a secured and safe back up of whatever credentials to necessary to safekeep my accounts. It can be a pain in the ass sometimes having to remember all these log in credentials and security questions but it makes it harder for others to attempt hacking into your precious accounts.
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bartolo
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May 03, 2017, 03:19:45 PM |
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We don't have to remember the passphrases/ seeds itself but we have to copy or keep it in a secured storage what we have to remember is that where it was stored on our portable drives, usb etc..sometimes we forgot where we copied some files and the tendency to delete it by anyone else who are using that storage..
So make copies on USB drives in different spots, or put it into a remote safe like your bank. USB drives lose their data if they are not connected to a power source in short intervals (i don't remember how long though you can research it yourself) this means holding your private keys, etc on a USB disk and coming back in a year or so to it may lead to a big loss. Yes, there is always a risk of you can lose your data or even your drive can be lost, for that reason if you use that method it´s good to use 2 or 3 devices and check the data regularly, if you use a pendrive you can connect it to your tv and check if the files are still there. |
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youdamushi
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May 03, 2017, 03:38:36 PM |
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We don't have to remember the passphrases/ seeds itself but we have to copy or keep it in a secured storage what we have to remember is that where it was stored on our portable drives, usb etc..sometimes we forgot where we copied some files and the tendency to delete it by anyone else who are using that storage..
So make copies on USB drives in different spots, or put it into a remote safe like your bank. USB drives lose their data if they are not connected to a power source in short intervals (i don't remember how long though you can research it yourself) this means holding your private keys, etc on a USB disk and coming back in a year or so to it may lead to a big loss. Completely! On a basic USB stick it can be lost if not connected for 2 years. But some are made with a bigger battery so there is still time going by. But nice point and it's important to be at least AWARE of that ^^ |
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popcorner
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May 04, 2017, 03:50:56 PM |
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How about this way of generating a passphrase.
Let's say it has three parts
First part: Some simple word/password which you cannot forget
Second part: Your fingerprint
Third part: Store the third part in the cloud. Now to retrieve it you need a password which will be generated by time-synchronization. Something like Gemalto's token. Simply put these are one-time passwords which are put into a device before they are deployed and only your device and authentication system knows this. Since this is a cloud system you can have ways to recover the password even if the device is lost.
This way even if one part of your key is compromised you still have two levels to break in. So as soon you sense one part is broke you can create a new wallet and continue using it
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youdamushi
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May 04, 2017, 04:52:50 PM |
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How about this way of generating a passphrase.
Second part: Your fingerprint
wut? The second part of the passphrase will be... Your fingerprint? Ignoring how complicated all your idea is... What is a phrase fingerprint? xD |
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Mirconome
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May 04, 2017, 09:03:16 PM |
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How about this way of generating a passphrase.
Second part: Your fingerprint
wut? The second part of the passphrase will be... Your fingerprint? Ignoring how complicated all your idea is... What is a phrase fingerprint? xD Passwords may not remember. But there are such functions when the password can be restored, and access with the help of a mesh of the eye or a fingerprint is very difficult to forge. So it's worth thinking about how to secure your documents and money other things. |
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Smoxer
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May 05, 2017, 01:20:59 AM |
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well thats how it works you want to mantain information that way you have to keep some private data to urself, any thing that will change that will ruin the secutiy aspect in its own
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Sadlife
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May 05, 2017, 01:41:35 AM |
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Prevention ie better than cure. You dont have to necessarily have to rember it you could copy and paste into a textfile and keep it hidden or encrypt it using some zip file softwares
Just emembering passphrases is very bad especially when their 25-60 characters long, it's bad for you cause you might forget it that is why you should have some back up solutions.
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Queen B
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May 05, 2017, 03:10:21 AM |
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One word:
Biometrics
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Leonard2016
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May 05, 2017, 06:06:12 AM |
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How about this way of generating a passphrase.
Second part: Your fingerprint
wut? The second part of the passphrase will be... Your fingerprint? Ignoring how complicated all your idea is... What is a phrase fingerprint? xD Passwords may not remember. But there are such functions when the password can be restored, and access with the help of a mesh of the eye or a fingerprint is very difficult to forge. So it's worth thinking about how to secure your documents and money other things. that is not such a good idea. the fingerprint system is not perfect yet and it has some problems, and reaching a truely random password with it will be hard (from what i have understood from what i have read). also consider what if you burnt your fingers? what will you do them? all your money will be lost because you simply lost something that you could never "back-up" |
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dunfida
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Activity: 3080
Merit: 1131
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May 05, 2017, 06:26:20 AM |
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How about this way of generating a passphrase.
Second part: Your fingerprint
wut? The second part of the passphrase will be... Your fingerprint? Ignoring how complicated all your idea is... What is a phrase fingerprint? xD Passwords may not remember. But there are such functions when the password can be restored, and access with the help of a mesh of the eye or a fingerprint is very difficult to forge. So it's worth thinking about how to secure your documents and money other things. that is not such a good idea. the fingerprint system is not perfect yet and it has some problems, and reaching a truely random password with it will be hard (from what i have understood from what i have read). also consider what if you burnt your fingers? what will you do them? all your money will be lost because you simply lost something that you could never "back-up" Burning your fingers would only happen on 1/10000 chance and if youre a careless person then possibilities of this thing to happen would be high. Biometrics is always a good security and if you are not satisfied then choose iris scanner it would be much better if you do really concern about security into your bitcoins. |
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magneto
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May 05, 2017, 06:43:36 AM |
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It's something which seems crucial to me for reaching mass adoption (in addition to scalabilty of course...).
Already on this forum there is a shitload of people losing their Bitcoins by forgetting passphrases, the private keys, the dat file etc...
So I would like to know what technological solutions could be proposed for this problem.
To make a comparison, a lot of people are forgetting their credit card code (even if it's only 4 digits...) or losing the card and the centralized solution to this is the bank providing new card/code.
Which decentralized solutions to this problems could you think of?
Nothing, really. The point of having a cryptocurrency in the first place is that you want to have full control over your funds. If there was a way to recover your funds then there will also be a way for others to exploit this method and hack your account. And this plus the irreversibility of bitcoin is a recipe for disaster as people will aim to hack as many accounts as possible in bitcoin instead of bank accounts because the transactions are so easily made. If you can't store your private keys safely, then maybe you shouldn't be using bitcoin.... |
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Leonard2016
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May 05, 2017, 06:51:27 AM |
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How about this way of generating a passphrase.
Second part: Your fingerprint
wut? The second part of the passphrase will be... Your fingerprint? Ignoring how complicated all your idea is... What is a phrase fingerprint? xD Passwords may not remember. But there are such functions when the password can be restored, and access with the help of a mesh of the eye or a fingerprint is very difficult to forge. So it's worth thinking about how to secure your documents and money other things. that is not such a good idea. the fingerprint system is not perfect yet and it has some problems, and reaching a truely random password with it will be hard (from what i have understood from what i have read). also consider what if you burnt your fingers? what will you do them? all your money will be lost because you simply lost something that you could never "back-up" Burning your fingers would only happen on 1/10000 chance and if youre a careless person then possibilities of this thing to happen would be high. Biometrics is always a good security and if you are not satisfied then choose iris scanner it would be much better if you do really concern about security into your bitcoins. i am not exactly referring to a horrible incident that you lose your finger for example although that is still possible and leads to total loss. but even small burn like burning it with a hot stove or something leads to you have no access to your money at least until your finger is healed! and that should be a concern because you wouldn't have any other way of accessing your funds then. |
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sportis
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Veni, Vidi, Vici
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May 05, 2017, 06:59:10 AM |
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I really do not think there is any way to do them responsible. People do not change easily if they do not tolerate the consequences of their carelessness. If in the future they do the same fault again that means they will not ever understand how to protect their funds and maybe let them to stick with their cash fiat money.
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Pettuh4
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May 05, 2017, 12:33:34 PM |
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We shouldn't expect average joes' to actually memorize all of that but we should show them how to save them on a hard drive or any magnetic drive that they can always refer to when the need arises. Not everyone is good at recollecting information they've memorized and so in order not to lock them out of their own personal accounts we should provide an alternative way for them to save th i.e. Bitcoin paraphrase.(i.e. Pendrive, notebook etc.)
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