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Author Topic: MY NEW WALLET SEED: How can I use this to backup my Bitcoins ????  (Read 218 times)
HardFacts
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January 07, 2020, 04:29:54 PM
Last edit: January 09, 2020, 03:51:41 PM by HardFacts
 #1

I got a Bitcoin Wallet Seed, as I want to trade the spike in Bitcoin, how does the below wallet seed work and help me back up my Bitcoins ???



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January 07, 2020, 04:39:11 PM
 #2

You use that 12-24 word seed as a backup. Let's say, if you lose access to your computer, you grab your new computer(or phone), install a reputable(and open source) wallet app, enter in the 12-24 words, then boom shakalaka. You now have access to your funds.

With that said, I hope you don't have funds on that wallet backup on your screenshot. Treat your wallet seed like how you treat your finance/online banking account passwords and backup codes. Giving people access to your seed will give them access to your funds.



EDIT: apparently the screenshot is from blockspoint.com.

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January 07, 2020, 04:41:21 PM
 #3

read the last line of the image. it clearly says never show this to anyone. immediately delete this image and change your seed or better move your coins to some other wallet. if you dont have anything in the wallet just create a new one dont use this anymore.
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January 07, 2020, 06:32:10 PM
 #4

You use that 12-24 word seed as a backup. Let's say, if you lose access to your computer, you grab your new computer(or phone), install a reputable(and open source) wallet app, enter in the 12-24 words, then boom shakalaka. You now have access to your funds.


So that assumes that I have my Bitcoins in an online account ??   Does this work if I have my Bitcoins on a USB drive Huh

No worries, I trust you guys, no one here would try to use this for a bad purpose.

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January 07, 2020, 07:30:54 PM
 #5

You use that 12-24 word seed as a backup. Let's say, if you lose access to your computer, you grab your new computer(or phone), install a reputable(and open source) wallet app, enter in the 12-24 words, then boom shakalaka. You now have access to your funds.


So that assumes that I have my Bitcoins in an online account ??   Does this work if I have my Bitcoins on a USB drive Huh


No worries, I trust you guys, no one here would try to use this for a bad purpose.




I hope you are joking with your last line?

Trust nobody on this forum [no offence to anyone in particular] but accounts get
hacked here from time to time. We have a "Trust" rating for everyone, some users
have gigantic positive trust others like myself have a small amount, others have
none and then some have Negative Trust.

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

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January 07, 2020, 08:24:26 PM
Merited by qwk (1)
 #6

I hope you are joking with your last line?
OP is a known troll. Review his post history for proof.

The picture in his post is from this article: https://blockspoint.com/guides/bitcoin/how-to-store-bitcoins. Half the words in the picture aren't even part of the BIP39 wordlist.

Posts like the one from him I've quoted below suggest he knows full well what a seed is, so I have no idea what he his trying to achieve here. Best to just ignore him.


NO NEED to write your Wallet Seed on a paper...

Everyone, Just give your Wallet Seeds to me, and I will take care of them for you and make sure they do not get lost !!!!

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January 07, 2020, 08:28:44 PM
 #7


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  ???   I assume nothing can ever hack my bitcoins I have on a USB drive not connected to any network ???



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January 08, 2020, 06:01:54 AM
 #8

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

Aight I'm just going to answer this assuming you're really serious, even though o_e_l_e_o has said that you're pretty much a known troll.

Exchanges, at least the centralized ones, aren't going to give you 12 word seeds. Mostly only non-custodial[1] wallets do.

Also, your bitcoin being "unhackable" even if it's only on a USB drive completely depends on how you set it up in the first place. You might have done the backup on a malware/virus-infected computer, and your seed might have been exposed.


[1] https://cryptosec.info/cryptocurrency-wallets/#noncustodial

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January 08, 2020, 02:09:22 PM
 #9


Exchanges, at least the centralized ones, aren't going to give you 12 word seeds. Mostly only non-custodial[1] wallets do.

Also, your bitcoin being "unhackable" even if it's only on a USB drive completely depends on how you set it up in the first place. You might have done the backup on a malware/virus-infected computer, and your seed might have been exposed.


[1] https://cryptosec.info/cryptocurrency-wallets/#noncustodial

Those guys just do not like my Bitcoin price predictions, so calling me a troll makes them feel better.   I think price is going much lower, but it is volatile and there is a lot of money to be made on Bitcoins price swings.

I have no malware or viruses, How do I use these seed words to get back Bitcoins that were on a USB drive ?? How in the world would anyone or anything know how many bitcoins I had on a non connected memory device ???

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January 08, 2020, 02:20:15 PM
 #10

I hope you are joking with your last line?
OP is a known troll. Review his post history for proof.
...

If he trolls us he does it well. I know we all get the same feeling when open that image, the feeling about:

Quote
You are doing it terribly wrong!

Sensitive information like a seed or private keys never has to be shared in any way. And less in an image to be posted in a public forum.  Tongue

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Cimmy_revenger
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January 08, 2020, 03:04:34 PM
 #11

I got a Bitcoin Wallet Seed, as I want to trade the spike in Bitcoin, how does the below wallet seed work and help me back up my Bitcoins Huh


https://imgur.com/A7YIext


You just made a fatal mistake, you shouldn't show that SEED to the public.
I post this, your picture that contains SEED has been seen as many as 14 people.
it could be that one of them has successfully used your SEED.

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January 08, 2020, 03:15:35 PM
 #12

You use that 12-24 word seed as a backup. Let's say, if you lose access to your computer, you grab your new computer(or phone), install a reputable(and open source) wallet app, enter in the 12-24 words, then boom shakalaka. You now have access to your funds.


So that assumes that I have my Bitcoins in an online account ??   Does this work if I have my Bitcoins on a USB drive Huh

No worries, I trust you guys, no one here would try to use this for a bad purpose.


How can you assure yourself that they will not take advantage of you? you have given them the opportunity to get the benefits they wanted from you, do you really think that your funds are still safe and secured? it's better if you listen to them because you might just end up feeling remorse if ever because you don't know the mindsets of other people particularly when it comes to something that can be beneficial to them.

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Mahanton
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January 08, 2020, 03:23:17 PM
 #13

I got a Bitcoin Wallet Seed, as I want to trade the spike in Bitcoin, how does the below wallet seed work and help me back up my Bitcoins Huh


https://imgur.com/A7YIext


You just made a fatal mistake, you shouldn't show that SEED to the public.
I post this, your picture that contains SEED has been seen as many as 14 people.
it could be that one of them has successfully used your SEED.
Not only 14 people but trying to look on thread views which is already 90 persons do saw such seed.
I don't know if this is just trolling or what because op asked out about security of seed but he do post up image showing the
entire phrases? Sounds dumb.
People do say about not exposing the seed but im pretty sure that some already tried to access it out.lol
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January 08, 2020, 03:28:21 PM
 #14

Posts like the one from him I've quoted below suggest he knows full well what a seed is, so I have no idea what he his trying to achieve here. Best to just ignore him.

Clearly, that is for sure, if this happened way back when there are no merits included for us to rank up, I would straight to the point assume that OP posted this post just to raise his post count for his activity to rank up fast, but since we have merit system right now, looks like OP trying to pull a joke on us trying to find out how much of us here knows about Wallet Seed and who will give shitty advice that makes his own story about Wallet seeds.

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January 08, 2020, 04:07:47 PM
 #15

You just made a fatal mistake, you shouldn't show that SEED to the public.
I post this, your picture that contains SEED has been seen as many as 14 people.
it could be that one of them has successfully used your SEED.

I do appreciate the warnings, BUT:

What you guys do not understand, is that my bitcoins are located on a USB drive, and not connected to any network.  There is no way anyone can take my Bitcoins from a non connected USB drive no matter what Seed Information they have.

I would never store my Bitcoins on a phone, or website, Coinbase service, or any networked device that they could be hacked or stolen.  

Hard Facts


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January 08, 2020, 11:44:47 PM
Last edit: January 09, 2020, 03:33:55 PM by HardFacts
 #16

So does this let me do anything, or is this absolutely useless for Bitcoins stored on a Non Networked USB device Huh   If so, how does this work Huh

https://imgur.com/A7YIext




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January 09, 2020, 12:07:32 AM
 #17

So does this let me do anything, or is this absolutely useless for Bitcoins stored on a Non Networked USB device Huh   If so, how does this work Huh

https://imgur.com/A7YIext



I hope that you do (and if not, that you will) understand that you can create an address or a wallet seed offline, but that won't mean they are inaccessible online for someone else. The system is able to generate a unique public and private key offline, but if you share it with someone, for instance leave your offline device unattended and someone comes into the room and takes a picture with a phone, they can go to their house, turn on their PC and gain access to that address. You don't have to be online for that!
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January 09, 2020, 04:07:30 AM
 #18

You just made a fatal mistake, you shouldn't show that SEED to the public.
I post this, your picture that contains SEED has been seen as many as 14 people.
it could be that one of them has successfully used your SEED.

I do appreciate the warnings, BUT:

What you guys do not understand, is that my bitcoins are located on a USB drive, and not connected to any network.  There is no way anyone can take my Bitcoins from a non connected USB drive no matter what Seed Information they have.

I would never store my Bitcoins on a phone, or website, Coinbase service, or any networked device that they could be hacked or stolen.  

Hard Facts



Generating the wallet offline doesn't mean all your Bitcoin is stored in your usb, so anyone with that seed can access and take control of your wallet.
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January 09, 2020, 04:16:43 AM
 #19

You just made a fatal mistake, you shouldn't show that SEED to the public.
I post this, your picture that contains SEED has been seen as many as 14 people.
it could be that one of them has successfully used your SEED.

I do appreciate the warnings, BUT:

What you guys do not understand, is that my bitcoins are located on a USB drive, and not connected to any network.  There is no way anyone can take my Bitcoins from a non connected USB drive no matter what Seed Information they have.

I would never store my Bitcoins on a phone, or website, Coinbase service, or any networked device that they could be hacked or stolen.  

Hard Facts

If you are not trolling, then I'd like to tell you that the seeds are enough for anyone to export your wallet to any compatible wallets. The seed is everything that you have in terms of access to your funds.
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January 09, 2020, 04:11:28 PM
 #20

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.

 
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