I applaud the effort to create a good non-hardware wallet cold storage system for newbies, but I don't think many people will be recommending or using this unfortunately.
Newbies??? Let's be serious, you've said it yourself how complicated it is, what newbie in this world that has just bought his first coins will not rush them back to the exchange and dump them when he sees what he needs to do? I will never ever think of adventuring in this stuff
Also, I'm completely lost at:
Private keys are not stored in non-descript packaging and stored with people that do not know they contain private keys
What? How did we end up to people storing your keys unknowingly from making your own indoor cold storage?
Instructions for recovering the bitcoin are included with every copy of the private keys to reduce the likelihood of loss.
So people will now know those are private keys, but they will have the instructions to recover next to them? Doesn't this sound a bit weird at least?
I'm a fan of creating safe cold wallets with back-up solutions as you can never have enough security but I think this one is going overboard and to in the right direction.
Anyhow, has anybody tried this?
It's way too much for me but I'm curious how much it will take for a more experienced user and if there are any fault points in it.