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Author Topic: A idea from my home boy  (Read 619 times)
Hamza2424
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July 18, 2023, 04:45:48 PM
 #21

Ok, good day fellas, someone brought up an idea for storing his Electrum recovery seed to my notice and I feel it's not entirely still safe and I will like to share here for some feedbacks before I tell him my final answer about the idea.

If you get your recovery seed from any wallet, either those with 12 seed words or 24, and you decide to write down 10 out of 12 or 20 out of 24 and keep the other two words separately somewhere else, how stupid or cool is this? He claimed he will keep the two words in a safe location different from the other words and also store the two words off head.

Give your answers please, stupid? Cool? Not great? No need?

Haha distributing the keyphrase, why is he going to gamble with the 10 to 12 ratio or 20 to 24 ratio he should prefer 50-50 for better security if he really thinks that by this strategy he or she can store his/her recovery, (So-called Safe). The idea seems to be inspired by the old treasure map stories where the map is divided into 2 or more parts for make sure the security of the treasure.

I will Strongly disagree with the idea because rather than securing two parts on different placements I will prefer the more efficient security of the single paper. Well, the idea is not bad but there are a few things that make me think about having a single sheet to be secured.

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July 18, 2023, 04:51:08 PM
 #22

That is not too bad, but for him to remember the splited ones is the major issue. But if he can remember them then it is not a bad idea. because I noticed that he is trying to make sure that when he mistakenly lost the one he has written down and someone found it and want to use the seed phrase to login to the wallet and since two words are missing, he could not do that. Written the two words down and still memorizing them in your brain is a good arrangement of storing seed phrase.

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July 18, 2023, 05:03:07 PM
 #23

I like that idea, but it carries a risk of loosing either of them. I have tried many ways to store my seed before and I have found one which still works best for me.
What I use is many random words in a piece of paper. I randomly put my seed in them and list the numbers where they are. Then I take that number individually, randomised it and then turn them into morse code. After that I have painted that morse code on my wall, piece of paper and wood to keep it safe. To a normal person, it will be just dot's and lines. But to me, I know what it is. Also, this will ensure the safety that you can individually back up that word list as well as the morse code to 2 different online platforms. Just make sure to make the word list so big that no one will be able to figure it out. And keeping them in individual platforms as well as hard copy will ensure that you will never lose either of them.

I know making online backup is quite risky. But big word list is quite hard to crack. Imagine putting 500/1000 words in a list. Good luck to the person trying to crack it. Or you can just back up the word list and keep the morse code to yourself. Less to worry about.

I am doing this for a long time and haven't faced any issue. But if you ever want to try it. Do some research on your own.
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July 18, 2023, 05:09:58 PM
 #24

For aging people, this isn't going to work. Memories of the people that are in that bracket are weak. Well, even I, I'm not yet an elderly yet I've got problems in remembering things. If it's going to work for him, he knows what he's risking and there's no blaming with this way of keeping your two/four recovery seeds. Those that are still young and has a sharp mind and brain, maybe it will work if they do something like this. But IMO, I'll never suggest it.

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July 18, 2023, 05:10:35 PM
 #25

Ok, good day fellas, someone brought up an idea for storing his Electrum recovery seed to my notice and I feel it's not entirely still safe and I will like to share here for some feedbacks before I tell him my final answer about the idea.

If you get your recovery seed from any wallet, either those with 12 seed words or 24, and you decide to write down 10 out of 12 or 20 out of 24 and keep the other two words separately somewhere else, how stupid or cool is this? He claimed he will keep the two words in a safe location different from the other words and also store the two words off head.

Give your answers please, stupid? Cool? Not great? No need?

Or maybe you can used or implement:-> https://iancoleman.io/shamir/

Of course, it might not be perfect as it could have it's flaw. There is also a good discussion here, Ian Coleman BIP39 / Derive P2SH addresses from Electrum generated Seed.

R


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July 18, 2023, 05:22:54 PM
 #26

I wouldn't say it's stupid but it just doesn't seem like it's going to work for me. The risk is too great especially with the loss of one of the two, I think in this case I still like to use the usual way by splicing as a whole without any separation.
I don't want to inconvenience myself in this case so I prefer the conventional way that I have always done.
Indeed, such a thing is still possible to do for some people on the pretext of being more secure from theft, but on the other hand, in my opinion it is quite complicated because the conditions become several things can happen such as losing one of the 2 seeds that you separate it actually makes the steps you take to secure it actually make you lose it.

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July 18, 2023, 05:35:14 PM
 #27


Someone must have done all these already. It would be stupid to do it here in the forum though.

Hope no one figures out where he stores it. Because if you have same username on other accounts, you will be traced and someone might just get your coins.
This idea could get people to hunt seed on the internet, its gonna be play time for those internet detectives. Those guys are really good at it, they will be able to find your accounts and find the other seed words.



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July 18, 2023, 10:17:44 PM
 #28

Ok, good day fellas, someone brought up an idea for storing his Electrum recovery seed to my notice and I feel it's not entirely still safe and I will like to share here for some feedbacks before I tell him my final answer about the idea.

If you get your recovery seed from any wallet, either those with 12 seed words or 24, and you decide to write down 10 out of 12 or 20 out of 24 and keep the other two words separately somewhere else, how stupid or cool is this? He claimed he will keep the two words in a safe location different from the other words and also store the two words off head.

Give your answers please, stupid? Cool? Not great? No need?
It sounds cool to keep it away from strangers but is not the best for the owner of the seed phrase,  it is very risky , any thing can happen which it can be difficult to get access to any of the books. We are humans that sometimes memories can be lose to remember where one of the books was kept. I think recording the total number of the phrase in the same place is safe for future , some people even find it difficult to take care of their seed phrase in a place where it is stored safe, talk about when it is being split in different places. Putting them together to store in a safe place is even the best and safest way to store seed phrase.

R


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July 18, 2023, 10:24:00 PM
 #29

Ok, good day fellas, someone brought up an idea for storing his Electrum recovery seed to my notice and I feel it's not entirely still safe and I will like to share here for some feedbacks before I tell him my final answer about the idea.

If you get your recovery seed from any wallet, either those with 12 seed words or 24, and you decide to write down 10 out of 12 or 20 out of 24 and keep the other two words separately somewhere else, how stupid or cool is this? He claimed he will keep the two words in a safe location different from the other words and also store the two words off head.

Give your answers please, stupid? Cool? Not great? No need?
Giving almost 80% of those private seed phrase then having that someone do aware about that will really be completely risky. Somewhat its really hard to bruteforce or trying out to find that missing 2 words but to know that having that possibility wont really be giving out that kind of confidence on your wallet total security.If you are that someone who do really give out importance about your wallet security then you should really be the only one who would really be having that awareness or do know about those keys or else you would really be putting your funds at great risks.
Its not something that should really be given out something even if you are both siblings or family members or best friends but still when it comes or in talks about money then its a different story.
Store it up on somewhere that it is really that far away on others attention or would really be able to know because once it would be known then say goodbye with your funds.

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July 18, 2023, 10:55:49 PM
 #30

Something so simple and yet, one of the most difficult to find a perfect way of keeping it. There is no single perfect way, all means that ensures safety from others works.
Living out just 2 of them words seems great and however, having them saved in 2 different locations. You just try not to loose them but, these words aren’t yours, make one mistake and it’s all gone.
What I would say is; what ever works is what the owner of the wallet ought to be doing or use as an approach towards securing his or her wallet.
There is no single smart means to saving your seed phrase or private key, you use whatever would be more difficult for others but easy for you.
Always remember that being too security conscious could as well endanger you as many at times, you end up not just securing the wallet from others but securing it from yourself as well.
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July 18, 2023, 11:05:10 PM
 #31

That is not too bad, but for him to remember the splited ones is the major issue. But if he can remember them then it is not a bad idea. because I noticed that he is trying to make sure that when he mistakenly lost the one he has written down and someone found it and want to use the seed phrase to login to the wallet and since two words are missing, he could not do that. Written the two words down and still memorizing them in your brain is a good arrangement of storing seed phrase.
Not too bad, but remembering the splitted location is really a big issue. Keeping two words memorized is really good and makes it more secure. However we don't know what happens the next minute, and for that reason we're supposed to keep one of our close person informed about the recovery phrase. In such scenario how can that be done. The plan to keep words splitted is good, but there needs to be few backups and locations were entire phrase is kept for the future.

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July 18, 2023, 11:13:46 PM
 #32

I don't understand what would be the purpose of this? If someone were to lose a seed phrase missing only the last two words, how hard is it to brute force with today's hardware? On the other hand, if you lose or forget those two words, you've created a complicated situation for yourself. For me, a better solution is to use a passphrase so that you have better security. This way, instead of memorizing two random words from a seed phrase, you have to memorize an arbitrary phrase that can be something easy to remember but known only to you. For example, the first sentence from your favorite book, or something like that.

R


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July 18, 2023, 11:15:13 PM
 #33

Every idea that have an advantage will also have disadvantage. There's huge risk in split sees phrase not talk about keeping the seed phrase off head which is totally naive of not thinking of the possibility of having dissociative amnesia which could lead to forgetting some important things.
I will suggest he get metal steal that's tested for heat, corrosion, and acid test from Jameson Lopp, get a safety deposit box, and keep it there.

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July 19, 2023, 02:37:16 AM
 #34

Give your answers please, stupid? Cool? Not great? No need?
you home boy just made it more complicated, because the problem here is that in the end, if the owner of the seed phrase lost or forget either part the seedphrase, they still will most likely lose access to the coins that is in the wallet. for me, the best way to save a seed phrase is to print it, make copies of it, properly store it and secure it.

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July 19, 2023, 03:04:37 AM
 #35

I won't personally do this, but, yeah, it's probably safer this way. If somebody found the 10 of the 12 or 20 of the 24 seed words, they still can't have access to your funds. If somebody found the 2 of 10 or 4 of 24, they also can't lay their hands on your money. But this also poses certain risks. What if you can't find all of them? What if you forget the sequence of those words?

But I guess it's pretty much manageable this way rather than make a puzzle out of your backup. I also think having more than 2 copies of each is better.

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July 19, 2023, 03:15:11 AM
 #36

This idea only makes storing phrases more complicated and difficult for ourselves and no one else. Instead of us just looking for a safe place to store our phrases, we now need to find 2 places to store them.

The way that I am using is to write my phrase on paper, but I will shuffle the position of the words. In case if they are exposed, thieves can't access my property either. Of course, there is still a risk if I forget the original position of the words, but another thing is that I always share it with my loved ones. So if I forget it, my relatives will remember it for me.
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July 19, 2023, 03:26:43 AM
 #37

Writing the seed phrase down in one place is a good idea and it will help you in the future when you misplace your phone or system that contain your seeds phrase, and you will be easily go back to those seeds phrase you write down to restore your money back.  I don't think, I will advise anyone to divide their seeds phrase and write them in a separate places, which is not a good idea because it will be easy for such person to regret when he or she can't remember where the 2 seed phrase are in the house. Many people do all those things by writing the seed phrase for different places for past experiences purpose, because if your wife or children know Bitcoin and wallet very well, very easy for them to know seeds phrase of any wallets, and it will be easy for them to know how much their father has in his wallet.

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July 19, 2023, 04:32:33 AM
 #38

Sounds safe but a complex one. Seed phrases will need to be entered in proper order, I hope he'll also remember from those 2 other words stored in his brain what comes next. It's not entirely stupid if we're talking about taking another extra layer of security as long as he will not going to forget that couple of phrases stored in his brain otherwise his btc will blend out of the circulation since it will be gone foreva.
My recommendation is that, he should keep all those phrases in one piece and store it in a all-calamities proof container, of course with a safety lock combination as well, and that combination should what is stored in his brain. Because remembering a combination of numbers you have created is easier than remembering a couple of words generated by a bot.
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July 19, 2023, 04:59:11 AM
 #39

It's a good security method as long as you always remember the complexity. But there is no need to do this if you have adhered to the standard method of protecting and keeping your wallet safe. This technique could breed carelessness because you know that the seed phrase is complex. I am also concerned with transferring my coins to my next of kin in case of an emergency. Sickness and death are unpredictable, hence there is a need to make your wallet less complex so that your dependents can have access to them without much restriction. I am just considering how my next of kin will be able to have access to my wallet with all these complexities of removing words because it took long lectures for them to even understand the simple wallet security tips. A little confusion can make the coin to be lost forever.

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July 19, 2023, 05:47:16 AM
 #40

Well, another good way is to add your own custom word in the seed phrase and then you do not have to remember or keeping safe the few words in other places. Because the words that you will write additionally to the seed phrase will always be remembered by you like your name, school name, anything but it should not be publicly attached to your personal life.

Because it will be attached then the hacker will definitely find it and will add those information in his datasets of brute force decryption method. But still, your idea is also good, but why only saving only few words, like if you are going to make some efforts to save few words then how much it will further cost us or takes more efforts to store more words. Let's say why not the full seed phrase.

Because what if you would not be able to find those missing words then what will happen. So the best practice is to keep all the seed phrase in different place like in anther device not connected to internet or write it down on any paper.

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