OcTradism (OP)
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September 29, 2020, 03:44:42 AM Merited by malevolent (2), tyz (2), DdmrDdmr (2), vapourminer (1), LFC_Bitcoin (1), mocacinno (1), Lucius (1), ABCbits (1), Husna QA (1), cryptoaddictchie (1), Smartvirus (1) |
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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erikoy
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September 29, 2020, 04:59:17 AM |
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Yes, saving wallet private keys and seed phrase is very crucial but I recommend if you have lots of BTCin your digital wallet it would be good to entrust it to someone close to you or all family members so that if anything will going to happen they can open and an access the funds. Usually as OP stated those storage are excellent in saving BTC away from the physical hazards. I may add that a good vault should also be waterproof. Who knows your place might get flooded and you can't retrieve seed phrase or private keys if it is written in notes that can be vulnerable to the damage of water.
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Oshosondy
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September 29, 2020, 10:27:09 AM |
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I do no think this kind of items can be found in my location, some of the items are expensive even than hardware wallets, this is a good information but I can not consider it because they are expensive, another thing that matters is the money I will use to import this to my country. I have liked to focus on easy ways that will require me simple ways to save seed phrase carefully, like having a seed phrase well and clearly written on a paper, then laminate the part. Look for an unused metal container, put it inside, buried it in somewhere safe at home under the ground. This cost me nothing, I have three backups with three different safe ways to retrieve. The forth is by memorizing the 12 words, memorizing it is wrong but I believe it can be the last resort.
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o_e_l_e_o
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September 29, 2020, 02:46:12 PM |
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I do no think this kind of items can be found in my location, some of the items are expensive even than hardware wallets, this is a good information but I can not consider it because they are expensive, another thing that matters is the money. The stress tests by Jameson Lopp are great, but what is more important the the individual ratings he gives is the general outcome from different kinds of devices. The majority of devices which have tiles being placed in to a holder or template perform very poorly. Even a small amount of bending from crush damage or warping from fire damage is enough for all the tiles to fall out, resulting in catastrophic data loss. Conversely, the majority of devices which involve either stamping letters or inscribing letters by hand on to a durable metal plate, typically stainless steel or titanium, perform very well against all forms of damage. With this in mind, these devices are unnecessarily expensive. You can walk in to any good hardware store (or even just use Amazon) and find a stainless steel plate for a couple of bucks which you can etch your words on to. No need to be a custom device for $50 or more. This cost me nothing, I have three backups with three different safe ways to retrieve. This is the most important point. Having your seed phrase backed up on a metal plate is all well and good, but nothing is indestructible, and it could still be lost, misplaced, etc. You should always have more than one back up of important information.
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XCANA
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September 29, 2020, 03:03:04 PM |
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having some limited stash of Bitcoin and Ethereum doesn't require such tools to store my seeds becasue of their rates. Though those with the energy could go for the highest rate because of their stash stored. For now, am okay with the papers storing tools in my home than going for this tools mentioned by OP. Hope i get the needed energy someday to acquire one of the tool above.
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Oshosondy
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September 29, 2020, 03:15:10 PM |
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With this in mind, these devices are unnecessarily expensive. You can walk in to any good hardware store (or even just use Amazon) and find a stainless steel plate for a couple of bucks which you can etch your words on to. No need to be a custom device for $50 or more..
Exactly my point, if I can buy ledger nano s with $60, why should I buy what I will use to back up with $50 or very high to $300, this is very uncalled for, I too can not buy such expensive materials, I will do it the old way that will cost me nothing, all that is needed is how I handle my back up.
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Smartvirus
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September 29, 2020, 05:19:39 PM |
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Having your seed phrase or private key backed up on a hardware in contrast to the traditional system of software isn't exactly bad but, it's not a guarantee that, the key is totally safe. Even if it passes through all those series of physical harvard tests. Besides, we all transact with this keys every now and then hence, you would want to carry it about following it's portability but then, your exposed to another different kind of risk. The key can be easily lost or misplaced, it could be stolen by those who knows what it represents and more. The safety is still all about you.
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OcTradism (OP)
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September 30, 2020, 01:34:30 AM |
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Shouldn't this thread located on Service Discussion since the thread only contains list of items and link for additional information? I don't know and because of I thought it can help newbies, I created the topic in this board but if moderators think the topic belong to Service Discussions, they can move the topic to that board. @OcTradism do you have any of item listed?
No, I don't have any of them. I see people discussed about it, search and found something. Then I shared it here and hope it help.
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Lucius
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October 04, 2020, 01:17:06 PM |
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Having your seed phrase or private key backed up on a hardware in contrast to the traditional system of software isn't exactly bad but, it's not a guarantee that, the key is totally safe. Even if it passes through all those series of physical harvard tests.
There is no absolute security, but still some solutions from OP are definitely better than having the seed on paper or in electronic form. I believe that many have the most vulnerable point in the way they keep backups, and that there is a very small number of those who think they need some kind of metal plate - moreover if the procedure involving backup is too complicated (which in some cases is indeed the case). I personally haven’t saved my backup this way yet, but I hope to find something that would suit me - maybe for Black Friday this year, there will certainly be good discounts.
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o_e_l_e_o
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October 04, 2020, 03:23:36 PM |
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I personally haven’t saved my backup this way yet, but I hope to find something that would suit me - maybe for Black Friday this year, there will certainly be good discounts.
I would suggest just going to a hardware store, buying a small piece of stainless steel, and doing it yourself. From the stress tests, we know that engraving your seed on stainless steel or titanium is the most secure and disaster-proof way to store it. It outperforms all the fancy tiles, rotating designs, moving parts, etc. It is far cheaper. You can get a suitable piece of metal for under 10 bucks. There is no need to spend 50 bucks on a device like this. And perhaps most importantly, it is private. As we saw earlier this year with Ledger, database breaches happen, and if one of these companies has their customer info leaked, then you can potential become a target as someone who owns enough bitcoin to want to back your seed phrase up on metal. Next time you are in Home Depot buying something for a DIY project, some paint, some tools, some garden furniture, whatever, just grab a small piece of metal.
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hatshepsut93
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October 04, 2020, 10:52:57 PM |
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I'm actually thinking that it's better to let my seed phrase be destroyed if something catastrophic happens to my house, because there's no guarantee that I will be the first to find it, in fact it's more likely that the rescuers would be the first to get it, and there's a chance that they will recognize what is it and take it for themselves (not to offend the members of this profession here, I just think that it's a possible risk). It's more important to have backups in multiple places instead of relying on them being indestructible.
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OcTradism (OP)
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October 05, 2020, 02:03:11 AM |
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I'm actually thinking that it's better to let my seed phrase be destroyed if something catastrophic happens to my house, because there's no guarantee that I will be the first to find it, in fact it's more likely that the rescuers would be the first to get it, and there's a chance that they will recognize what is it and take it for themselves (not to offend the members of this profession here, I just think that it's a possible risk). It's more important to have backups in multiple places instead of relying on them being indestructible.
The key is decentralize your funds into a few wallets. With each wallet, you need to have multiple backups, in different methods, and store them in some few safe places (that is what you said and I agree). In case if something bad happens and you are still be able to access your wallet, it is time for you to immediately sweep your fund into a new wallet. There are risks of backup will be accessed by rescuers or someone else in such accidents.
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o_e_l_e_o
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October 05, 2020, 08:18:31 AM |
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It's more important to have backups in multiple places instead of relying on them being indestructible. I totally agree, although I've never considered the "rescuers find it first" angle. Usually I think about natural disasters like floods or hurricanes (which I appreciate may not apply to everyone depending on where you live). Such disasters can destroy your house and carry the debris several kilometers. There is no guarantee you will ever find your metal plate again. The key is decentralize your funds into a few wallets. A few different types of wallet. There is not much to be gained by creating 5 different wallets all on the same computer all using the same software. One piece of malware or malicious update and all your funds will be gone regardless. Instead have a desktop wallet, a hardware wallet, an airgapped wallet, a paper wallet.
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Lucius
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October 05, 2020, 10:07:36 AM |
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I would suggest just going to a hardware store, buying a small piece of stainless steel, and doing it yourself.
I understand your logic, but if a product from the above is, say, at a 50% discount, it may be worth buying at a price of $20-$30. Although you are absolutely right when it comes to privacy, every possible vector of attack should be avoided, and every purchase of something crypto related exposes us to that risk.
I'm actually thinking that it's better to let my seed phrase be destroyed if something catastrophic happens to my house, because there's no guarantee that I will be the first to find it... It's more important to have backups in multiple places instead of relying on them being indestructible.
This kind of thinking definitely makes sense, and that is why it is very important that such a backup is hidden in a less exposed place and best protected, for example in the basement of a house under a layer of concrete where no one will find it - but in case of earthquake, flood or fire it will take us a while to get to it. Multiple locations are the solution, but they should be places of trust - I still wouldn't leave something like that with anyone I don't trust 100%.
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hatshepsut93
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October 05, 2020, 11:54:01 AM |
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Usually I think about natural disasters like floods or hurricanes (which I appreciate may not apply to everyone depending on where you live). Such disasters can destroy your house and carry the debris several kilometers. There is no guarantee you will ever find your metal plate again.
And there's also no guarantee that some random person won't find it after some time. It maybe obvious to some, but still, if you have lost your backup seed for whatever reason, always make sure to migrate the coins to a new wallet as soon as possible, it's very bad to think that your coins will be safe because regular people don't know what a seed is - we live in the age of search engines where anything can be identified in minutes.
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jerry0
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October 06, 2020, 04:24:21 PM |
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The issue here is if someone else finds it, isn't it sort of obviously the seed means something? Compared that to putting it on a piece of paper in a notebook with a ton of other information and words there?
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OcTradism (OP)
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October 09, 2020, 04:00:41 AM |
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The issue here is if someone else finds it, isn't it sort of obviously the seed means something? Compared that to putting it on a piece of paper in a notebook with a ton of other information and words there?
Seed, private keys need to be stored in safe and secret place. What are given in OP simply help you to have safety from water, fire, shock, pressure, etc. However, you have to store them in secret places. It does not make any sense if you back up wallets and publicly tell to anyone you meet, Hey it is my bitcoin wallet's backup. Please come and check it. In order to have better safety, you need to keep your interests or your personal information that you are a crypto investor. The more people know you are bitcoin or crypto investor, they more eyes will pay attention on your activities and your wallets will face with higher risks from thieves.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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o_e_l_e_o
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October 10, 2020, 09:33:18 AM |
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Compared that to putting it on a piece of paper in a notebook with a ton of other information and words there? That's simply security through obscurity, and should not be relied upon to protect your seed phrase (or any information). It provides you a false sense of security as you think "Well, at least if they find it they might not immediately know what it is." Far better to instead focus on storing your seed phrase somewhere safe where it will not be found, rather than hoping someone doesn't know what it is when they do find it. If you really want to store it in a way that if someone finds it they will not be able to access your coins, then the better options are to split your seed phrase or use a long and complex passphrase in addition.
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Charles-Tim
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October 10, 2020, 09:59:28 AM |
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That's simply security through obscurity, and should not be relied upon to protect your seed phrase (or any information). It provides you a false sense of security as you think "Well, at least if they find it they might not immediately know what it is." Far better to instead focus on storing your seed phrase somewhere safe where it will not be found, rather than hoping someone doesn't know what it is when they do find it. If you really want to store it in a way that if someone finds it they will not be able to access your coins, then the better options are to split your seed phrase or use a long and complex passphrase in addition. What I have noticed is that common sense is enough to back up seed phrase, you are very right. I do not even have to buy any expensive material for back up when I can get what I can use to back up my seed phrase at home freely without it costing me nothing. Even a pencil and a paper is good if laminated, and the use of a metallic plates at home with the use of penenetating objcts like compass to input it on the metallic plate. Having three backup of different types is enough with good protection. How about the metallic part of a maticatical set, I can even input my seed phrase inside it with its compass or divider sharp ledge and be stored in a safe place free from anyone to access. There are many things we can think of in a way we will easily and freely back up seed phrase without spending no money on any back up. Having three of it has been the best for me, only what can not safe me of my backups are natural disasters, and of which my location is totally free from such, bit in case, that is why I even still have to know the seed phrase on my head but of which said not to be recommended and well noted. With what explained above and using shamir's secret sharing and/or with the use of passphrase will be good to avoid attackers and for safe protection of the backups. You are very right, common sense is what is required. But, we should also be conscious of the fact that too tight security can lead to loss of password, we should do it to the limit we will be able to access the backup all the time.
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OcTradism (OP)
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November 17, 2020, 06:08:18 AM |
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Please read and consider for your mental sheet in the future. I don't have any mental sheet.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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