|
September 05, 2019, 10:40:11 AM |
|
If your piece of paper becomes damaged, or the ink smudges, or similar, and you lose a couple of your words, you will need to brute force around 4 million combinations (2048^2) to regain access to your coins. If you are storing your private key in base58 wallet import format and lose say 10 characters of your key, you are looking at around 430 quadrillion combinations (58^10), meaning your coins are probably lost forever. (In reality these numbers would be slightly smaller as not all combinations of words are valid, but the principle is the same).
The same applies if you write down a few mistakes, mix up characters or words, or so forth. Not only is it harder to make a mistake writing down words than writing down random characters, but it is also easier to figure out or brute force any mistakes you have made.
|