Bitcoin Forum
September 21, 2018, 05:12:46 AM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Hardware wallet and recovery seed  (Read 399 times)
btcconnoisseur
Newbie
*
Offline Offline

Activity: 55
Merit: 0


View Profile
August 31, 2017, 02:24:58 PM
 #1

Can a wallet be recovered by somebody else, if they find a recovery seed note, that I've stored in my physical safe, while I still have my cold wallet (Trezor)?

Will I learn about it or not until the $$ is out?  Grin
1537506766
Hero Member
*
Offline Offline

Posts: 1537506766

View Profile Personal Message (Offline)

Ignore
1537506766
Reply with quote  #2

1537506766
Report to moderator
1537506766
Hero Member
*
Offline Offline

Posts: 1537506766

View Profile Personal Message (Offline)

Ignore
1537506766
Reply with quote  #2

1537506766
Report to moderator
1537506766
Hero Member
*
Offline Offline

Posts: 1537506766

View Profile Personal Message (Offline)

Ignore
1537506766
Reply with quote  #2

1537506766
Report to moderator
Einax Airdrops and Bounties made easy! List your ERC-20 token
FREE
ETH markets launching soon!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537506766
Hero Member
*
Offline Offline

Posts: 1537506766

View Profile Personal Message (Offline)

Ignore
1537506766
Reply with quote  #2

1537506766
Report to moderator
1537506766
Hero Member
*
Offline Offline

Posts: 1537506766

View Profile Personal Message (Offline)

Ignore
1537506766
Reply with quote  #2

1537506766
Report to moderator
Xavofat
Hero Member
*****
Offline Offline

Activity: 882
Merit: 518

Satoshi wanted "small, casual transactions".


View Profile WWW
August 31, 2017, 02:43:28 PM
 #2

Yes.  The seed is a phrase that is used to generate your private keys, and the private keys are what gives you the right to spend your coins.

However, TREZOR has a solution to this, which is called passphrase encryption.  In addition to your seed (which you could store in safe places like a bank deposit box or underground), you can have a passphrase which is like the 25th word of the seed.

Also, you can create separate wallets with separate passphrases - that way you can have a wallet from which you spend smaller amounts of funds and a wallet in which you hold large amounts of funds.  When you're attacked, you would then only give access to the wallet with less funds, and the other wallet can be hidden.

The important thing is that the attacker doesn't know precisely how many coins you hold - your privacy is very important in this case, so you need to manage your addresses properly to avoid revealing all of your funds at once.  You can also take additional steps to improve your privacy, such as mixers. 

It's important to note that if you forget your passphrases, your wallets will be permanently lost because they are part of the seed.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!