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Author Topic: A idea from my home boy  (Read 618 times)
Obari
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July 20, 2023, 11:47:16 AM
 #61

Well I don't think this idea is a nice one and rather than trying to store some in his head which has greater chances of been forgotten,  I think it will be better to write down the seedphrase and just store them in a save place and this might be safer than the option he proposed.

And what's the relationship between you and your homeboy and I wouldn't even advice you to have any connection with storing his seedphrase because most times, human being always looks for a tangible excuse to blame someone else for their casualties and if there is a case of loss, you might easily be pointed out which I believe you might not want.

R


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aylabadia05
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July 20, 2023, 12:03:02 PM
 #62

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's neither a good idea nor a bad idea to store it elsewhere without writing it all in one place.
writing 10 words in one place and 2 words in another can make it difficult for people to know what the written words mean with different creations offline.

For me that's not bad and I can accept an idea like that because each of us has different ideas in securing word for word that is quite important so that our assets are intact.
And I'm still a big believer in storing seed phrase reserves in a few places I consider safe.

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CryptSafe
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July 20, 2023, 02:42:36 PM
 #63

I remember someone said that he's got his recovery phrases memorized on his mind and I don't know if that's true and his argument with that is that no one will ever steal it on his mind.

But you all know the catch and the topic is just the same for having 2-4 words or seeds that's missing from writing it down.

It's not a good idea but this time, you do you. Whatever is working to you, do it as you're the one who's responsible for everything you do.

I do not see this to be safe. Memorizing a seed phrase seems okay from some perspective but not alright in general. Memorizing task of this nature is more of a cram work because if you should miss one word, the whole words are mixed up which would get everything confusing for you and as such there is every possibility that you might get it difficult knowing the first word to the last word as it is sequentially. So to best be on the safe side write down your seed phrase and store them on different places best for you to quickly access them when ever you need them.
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July 20, 2023, 08:25:47 PM
 #64

It's not a good idea by all means. First, because it is not possible to guarantee the validity of our memory in remembering the two (or more) words that will be separated from the rest of the seed words or their arrangement, then this allows the display of the rest of the words, that is, there is no need to hide them. Secondly, because there are better solutions available so that more layers of protection can be added.

i won't trust my memory either. we are just humans and we can't assure 100% that we won't forget all the details that we want to remember. even if we say only 2 words are missing, yet the list is very long and its not good trying to remember those 2 words.
Of all the proposed solutions to protect and hide seed words, none of them depend primarily on the ability of the human mind to remember. Like any other metal, the cells of the human brain are perishable, just like the rest of the body, and they can be considered more susceptible to damage than other materials. Therefore, seed storage boards and hardware wallets are made of solid metals that are not subject to damage or combustion for the longest possible time.
Therefore, I would like to remind you again that we are in the process of discussing the idea on the basis that it was proposed by a young child who tried hard to think of the easiest solution from his point of view.
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July 22, 2023, 12:15:24 PM
 #65

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.
Shuffling can make the unauthorized person suffer but they might get lucky after a few several tries of entering your seed phrase in the wallet. Don't be sure that thieves can't found or access your location. They can only come in random or when you least expect it, so it is always better to be safe than sorry.

Having securely saved multiple back-up of the exact position of your seed phrase is a must so that you can login them easily but it must be kept in a much secure location which you can also remember easily. Sharing our seed phrases to our loved ones might be a good idea because unexpected things could happen to us but you should choose a family member carefully.
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July 22, 2023, 12:48:03 PM
 #66

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.
Shuffling can make the unauthorized person suffer but they might get lucky after a few several tries of entering your seed phrase in the wallet. Don't be sure that thieves can't found or access your location. They can only come in random or when you least expect it, so it is always better to be safe than sorry.

Having securely saved multiple back-up of the exact position of your seed phrase is a must so that you can login them easily but it must be kept in a much secure location which you can also remember easily. Sharing our seed phrases to our loved ones might be a good idea because unexpected things could happen to us but you should choose a family member carefully.
Nothing is absolutely safe, everything is risky, mate. You can't doubt everything and live in anxiety just thinking about storing bitcoins. In my opinion, we don't need to be too fancy or complicate things, use whichever method you feel is safest for you (any method).

One more thing, I think it's best to share seed phrases with loved ones because we work, invest and earn for them and not only ourselves. So no need to worry about sharing seed phrases with them. If you keep doubting everyone including your parents, wife and children, no one will trust you.

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July 22, 2023, 01:07:21 PM
Merited by fillippone (1)
 #67

Well I don't think this idea is a nice one and rather than trying to store some in his head which has greater chances of been forgotten,  I think it will be better to write down the seedphrase and just store them in a save place and this might be safer than the option he proposed.

Hello Mr @obari, I don't think that op home boys idea is a bad idea, it's more riskier to store your seedphrase at a particular place, what if somebody by any means sees it? No were is saver than separating thing, i.e if you invest in a particular coin and the coin crash to score zero you are definitely going to lose all but if you invest in several investment's and one crash the other might remain for you.
If someone can remember his/her contact information or bank pins so I don't think that a pronunciation is hard to remember, prove me wrong, before someone should invest in Bitcoin that person should be so smart enough to remember things, been a good investor requires enough brains and smartness, is only a dull person what can easily forget things.

R


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Lorence.xD
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July 22, 2023, 01:17:24 PM
 #68

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.
Shuffling can make the unauthorized person suffer but they might get lucky after a few several tries of entering your seed phrase in the wallet. Don't be sure that thieves can't found or access your location. They can only come in random or when you least expect it, so it is always better to be safe than sorry.

Having securely saved multiple back-up of the exact position of your seed phrase is a must so that you can login them easily but it must be kept in a much secure location which you can also remember easily. Sharing our seed phrases to our loved ones might be a good idea because unexpected things could happen to us but you should choose a family member carefully.

As long as the seed phrase is not saved online where hackers or thieves could get their hands on your seed phrase that could open up your wallet. Shuffling can be confusing to owner as well especially if not saved properly. Imagine for a long time the last time you checked your seed phrase was a year ago. So probably you would forget the sequence and have alternative storing for the sequence which is kinda hassle and complicated. I won't argue that every method in storing of seed phrase doesn't have any risk, since it depends on where we are comfortable to save our passwords. "Sharing our seed phrases to our loved ones might be a good idea" I actually told my girlfriend where I stored some of my password so incase I forgot she might have an idea which is pretty good.

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July 22, 2023, 01:23:43 PM
 #69

I do not know if this is a bad idea or not, they have a way to keep notes safer again, for them to record 10 words or 20 words and the rest of it is stored separately in different places maybe for him it is quite safe this is also the best way to store seed phrases in different places and have two different notes.

I don't do that but I save on one record and backup it in different places of course this is safe friends no one knows anyone including family, for me this is quite safe although there are some other ways that are safer but it makes me more complicated to do it.
The important thing is the backup and the place that needs to be safely kept secret.

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July 22, 2023, 02:01:03 PM
 #70

I do not know if this is a bad idea or not, they have a way to keep notes safer again, for them to record 10 words or 20 words and the rest of it is stored separately in different places maybe for him it is quite safe this is also the best way to store seed phrases in different places and have two different notes.
Using this method, it is important that the storage is correct and the notes are safe from damage.
Separate storage with 2 notes bound together requires a place that is completely safe from anything.
If one of the notes is lost and not found then the wallet cannot be opened.

I don't do that but I save on one record and backup it in different places of course this is safe friends no one knows anyone including family, for me this is quite safe although there are some other ways that are safer but it makes me more complicated to do it.
The important thing is the backup and the place that needs to be safely kept secret.
Being inconvenient is fine as long as the backup is secure.
But if there is no guarantee that it is safe then use other methods.
You also have the right to inform your trusted people, such as your wife, or your children because backups are useful when you cannot access them due to some unforeseen events.

The backup needs to be kept secret from outsiders, or it can become a legacy that your family will use later.

R


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July 22, 2023, 02:58:00 PM
 #71

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?
Storing your seed phrase or private key in two separate places is not a bad idea, of which only if those locations are safe, then it is okay. But trying to store them "off-hand" (i.e by memorizing it), I think that will be the worst idea anybody could ever come up with, as our human brain is not a machine and we are likely to forget if stressed or have an accident which affected our brain. However, I have also seen others ask if can they store their seed phrase in a foam of a song? Which I think it's also another bad idea if the song is not written down and stored in a safe place.

R


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July 22, 2023, 03:23:07 PM
 #72

You also have the right to inform your trusted people, such as your wife, or your children because backups are useful when you cannot access them due to some unforeseen events.
The backup needs to be kept secret from outsiders, or it can become a legacy that your family will use later.
I have planned that but for now no, the children are still not grown up so he will not understand for now, my wife is still not sure even though I believe in her, but I have talked to her that I have kept some seed phrase reserves that she will definitely know later I will also inform her more clearly.

Yeah, I'm planning to pass it on to the kids, I want to know how the kids will like it, whether he will like bitcoin or something else I can't be sure, let him choose his own path.

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July 22, 2023, 03:51:53 PM
 #73

~Snip
I have planned that but for now no, the children are still not grown up so he will not understand for now, my wife is still not sure even though I believe in her, but I have talked to her that I have kept some seed phrase reserves that she will definitely know later I will also inform her more clearly.

Yeah, I'm planning to pass it on to the kids, I want to know how the kids will like it, whether he will like bitcoin or something else I can't be sure, let him choose his own path.
It is always a good idea to plan an inheritance for your bitcoin to anyone you trust in your family members. That is the most important piece of advice to consider considering that no one can access the wallet if they don't have the key. You can give your wife your spare key if you trust her, but if not then you can also go the other way that many other big investors do.

I believe my wife is the right person to have a backup of the seed or privatekey of my bitcoin address, but I believe not everyone will trust their wife 100% for high value assets. But ultimately it's up to you to adapt how you inherit your bitcoins to whoever is entitled to receive them.

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July 22, 2023, 06:53:11 PM
 #74

This approach seems unwise. Instead of relying on a single written seed phrase that could be easily forgotten or lost, it's better to write your seed phrase on a piece of paper and store them in secure locations. You may make couple of copy. By doing this, you minimize the risk of losing access to your funds due to a single mishap.

Consider who you might be trying to protect your seed phrase from. Is it from your family members? Keep in mind that if you take these precautions and something happens to you, your family may not be able to recover your funds. It's essential to strike a balance between securing your assets and ensuring your loved ones have access to them in case of any unfortunate circumstances. Leaving some funds accessible to your family, which you've worked hard to earn throughout your life, can provide peace of mind for everyone involved.

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July 22, 2023, 07:13:42 PM
 #75

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?

Could work for short-term storage but definitely not a great idea for a long-term one. It might sound safe at first it has some big security risks.
First of all let's start with that 2 words (out of 12). I'm fairly sure that if someone intercepts the first 10 words, brute-forcing the remaining 2 words would probably be doable. Especially if the thief knew that it's a 12-word seed and that the missing part are the last 2 words.
And memorising 2 words is obviously easy, but forgetting them is even easier. Most of people experienced suddenly going blank on something they remembered for a long time. Human memory is fragile and not reliable. We're not really "wired" to remember cold data, but rather to memorise experiences.

Second of all, whether or not that solution will be secure largely depends on how/where would you store the written-down phrase. Storing it on a piece of paper bears the risk of it getting: damaged (fire, flood, eaten by a dog etc), accidentally thrown away, lost (it's not hard to forget where you put it), stolen, or risk of the ink fading away over time or paper decaying etc. I wouldn't do it unless you have a home safe or bank deposit box.

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July 22, 2023, 09:34:03 PM
 #76

I have planned that but for now no, the children are still not grown up so he will not understand for now, my wife is still not sure even though I believe in her, but I have talked to her that I have kept some seed phrase reserves that she will definitely know later I will also inform her more clearly.

Yeah, I'm planning to pass it on to the kids, I want to know how the kids will like it, whether he will like bitcoin or something else I can't be sure, let him choose his own path.
It's better to talk to your wife than to keep it to yourself without anyone knowing.
Although there is a bit of mistrust (that's normal) it must be done for the security of your assets.

Your children will have to choose their own path, but when Bitcoin is earning enough money who wouldn't be interested?
Your children will be adults who will have an idea of how they make money and your assets will be valuable assets.

-snip-
I believe my wife is the right person to have a backup of the seed or privatekey of my bitcoin address, but I believe not everyone will trust their wife 100% for high value assets. But ultimately it's up to you to adapt how you inherit your bitcoins to whoever is entitled to receive them.
It's each person's choice. Adjust to your situation, if there is someone more trustworthy of course you have to make sure he is really trusted.
Your wife is the one who always accompanies you and she is also close to your child, so who else can be that close but your wife.

R


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July 22, 2023, 10:24:39 PM
 #77

For someone with a persistent memory or who lives somewhere that is not private and secure for him, this is an ideal way to save seed phrases. For those people, in my opinion, this way of isolating seed phrases can be cool.
This type of procedure should not be attempted by someone with a weak memory because they risk forgetting their seed phrase.
Even though I have a retentive memory and can recall things, I can't seem to keep two words apart, even though this method appears cool. 

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July 22, 2023, 11:59:40 PM
 #78

For someone with a persistent memory or who lives somewhere that is not private and secure for him, this is an ideal way to save seed phrases. For those people, in my opinion, this way of isolating seed phrases can be cool.
This type of procedure should not be attempted by someone with a weak memory because they risk forgetting their seed phrase.
Even though I have a retentive memory and can recall things, I can't seem to keep two words apart, even though this method appears cool. 
Many people criticize this method but I also find that it is also a good way to store seed phrases. Maybe when we apply this method, it will be complicated and contain some risks, but it is probably the safe way for him. We cannot criticize it because it does not suit us. Keeping secrets in different places will cause many difficulties for us but at the same time will increase the security of our secrets. Everyone has their own method and no one will be the same.

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July 24, 2023, 02:55:04 AM
 #79

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?
This does not increase the security of their coins at all, as it would be the easiest thing in the world for a hacker, or almost anyone for that matter that knows a little bit about bitcoin, to test the 2 remaining words and eventually find the one wallet that has some bitcoin on it.

By doing this your acquaintance is making the recovery of their coins way harder while the security of their coins is not increasing significantly, making it a bad trade-off if you ask me.
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August 13, 2023, 02:20:09 AM
 #80

I think if 2 or 4 words are separated from all the words it will be better safe. But it is better if you can memorize this 2/4 word if you don't put it somewhere else. It's easy to memorize but a lot of risk because if you miss one letter from these words you will lose all your money. In contrast, if you write down these letters in a good safe place, you can certainly save them in case you forget them in the future. But you have to hide it in a place that no one but you knows about so it will be safe. Otherwise, your currency will certainly not be good if some other experienced person gets hold of your stored words. So as far as possible you should write on paper or any important thing and keep it safe as possible.

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