Btcalysis (OP)
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March 29, 2025, 03:06:13 PM |
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It is not good to hold your coins on exchanges but hold them on a self-hosted wallet. This brings the responsibility of how not to lose your seed phrase because if you lose your seed phrase you will lose your coins.
If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
We should backup the seed phrase in a way that no matter what happened, we should still be to have access to the seeds phrase. What are you approaches to make sure that no matter what happened, you will have access to your seed phrase if you are still alive and your brain is functioning properly.
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notocactus
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March 29, 2025, 03:26:40 PM |
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It is not good to hold your coins on exchanges but hold them on a self-hosted wallet.
Non-custodial wallet or self-custodial wallet. You need to use a correct term. If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
Having durable backups. Having mulitple backups. If possible, storing your backups at different locations. 5 years ago, Beirut explosion - Lesson to learn from this. Similar concern and discussion will appear after next catastrophes in future. Some advice. How to backup a seed phrase?Metal Bitcoin storage reviews with different tests from heat, corrosion and crush.
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Free Market Capitalist
aka Poker Player
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March 29, 2025, 03:26:58 PM |
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If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
The best thing to do if you only have a few seeds is to have them stored in two different and safe places, miles apart, although I understand that not everyone has access to that. It usually goes according to your wealth. If you only have 0.01 bitcoin, with a HW and some seeds is enough, as well as a single place to store the seeds. If you have 100 bitcoins, you will have several wallets, with the seeds and HW stored in different places, some with multisig systems. As you will understand, someone who has so many bitcoins is more likely to have several houses or other places where he can hide copies.
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Btcalysis (OP)
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March 29, 2025, 03:41:57 PM |
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Non-custodial wallet or self-custodial wallet. You need to use a correct term.
I know all these terms. You can also call such wallet self-hosted. A self-hosted wallet refers to a type of digital wallet that is hosted and controlled by the user, as opposed to being hosted by a third-party service You can also search for it online to know that I am correct. If possible, storing your backups at different locations.
This will be the best that can be done but I guess that most people will backup the seed phrase someone at there home. It can be in two or more locations but at the same home which is not safe enough. As you will understand, someone who has so many bitcoins is more likely to have several houses or other places where he can hide copies.
But what about someone that does not have several bitcoin, not having more than 1 house and not want to lose his seed phrase? $0.1 BTC may be small to some people but big to some people depending on how rich they are. With your explanation, rich people with more than one house have the advantage.
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Despairo
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March 29, 2025, 03:46:58 PM |
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Is flood or earthquake happened instantly without any preparation? nah.
Before earthquake happen, the geologist already give a speculation if earthquake might happen.
Flood happen from day to day, it start from small to big.
Instead of worrying about natural disaster, you have to worry whether your country will be attacked by other country, if someone sent nuclear bomb, then it's over.
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Awaklara
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March 29, 2025, 03:59:17 PM |
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But what about someone that does not have several bitcoin, not having more than 1 house and not want to lose his seed phrase? $0.1 BTC may be small to some people but big to some people depending on how rich they are. With your explanation, rich people with more than one house have the advantage.
Rich people with more Bitcoin holdings certainly think about how to keep their wallet recovery seeds very well. But it is not impossible for those who have less Bitcoin to also make preventive efforts. Anyone who holds Bitcoin today will not want to lose their Bitcoin, even in a natural disaster. Even in one place in your house, there must be a place that no one would think of to store your recovery seed. Keep making efforts to duplicate your recovery seed. Even though it is stored in the same house, you can think of a different place. The most important thing is not to store it on your online device.
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Pablo-wood
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March 29, 2025, 04:15:40 PM |
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Having multiple backups saves the day. It all depends on what kind of backup the investor can afford at the moment but metallic steel serves the best backup.purpose because it will resist fire, water and other natural disasters. Having multiple backups will help save against flood and earthquake.
If one has multiple backups if a casualty occurs the can quickly lay hold on the nearest back up phrase and move on. It is also good to have the first letter of each word that makes up out seedphrase a solo anthem. If we recite them often we will have a clue to what our seed phrase is and the order to which they appear should incase all back up plans fails.
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Ambatman
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March 29, 2025, 04:25:48 PM |
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Non-custodial wallet or self-custodial wallet. You need to use a correct term.
I know all these terms. You can also call such wallet self-hosted. A self-hosted wallet refers to a type of digital wallet that is hosted and controlled by the user, as opposed to being hosted by a third-party service You can also search for it online to know that I am correct. They are related but not quite the same. Non custodial wallet are wallet you are in control of your private key And no third party can access your funds. Now here's the twist. Self hosted are non custodial wallet where you run your own server( connected to your own bitcoin node) Thus all self hosted are non custodial but not all non custodial are self hosted (example people that rely solely on third parties server) If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin A flood may likely float away even a durable metal plate. And for that you can add a paraphrase Incase it falls in anothers hand. One of the option is to save your backup in different locations With them been broken in portions. Or save some words in your brain and leave some scattered online (risky but can mitigate the risk of flood).
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Nwada001
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March 29, 2025, 05:23:18 PM |
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If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
It's not safe to save or back up your seed phrase only in one place. At least you should be able to have a backup in different locations of your seed phrase and not only in one place, and better still, even the places you back it up to should be both water- and fireproof to prevent it from being destroyed if any of your mentioned disasters happen.
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moneystery
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March 29, 2025, 07:13:11 PM |
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there must be something that makes us a little worried when we store our bitcoins in a non-custodial wallet, such as what is the best way to store the seed phrase to prevent bad things, floods, or other disasters. the way i think is the best is to make multiple backups in different locations, that is one effective way to overcome this. but again, is it really safe? what if it leaks? or other problems? there are always concerns about this. the point is just trying to secure your assets in ways recommended by senior users here. regarding whether there will be a disaster or a sudden apocalypse, let that be a problem later.
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CryptoHeadlineNews
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March 29, 2025, 07:27:23 PM |
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We should backup the seed phrase in a way that no matter what happened, we should still be to have access to the seeds phrase. What are you approaches to make sure that no matter what happened, you will have access to your seed phrase if you are still alive and your brain is functioning properly.
In such scenario, then the digital space seems to be another way to have access to your seed phrase, though despite not being the most secured, but it is indeed a better alternative If eventually you happens to encounter a natural disaster like Earthquake or flood and you got your seed phrase damaged. And when I said digital space, I don't mean social medias, since those are easy to be hacked, but what I meant is storing your seed phrase in either a brand new Gmail account or Google Doc that is not connected to your device. And secondly doesn't have keywords such as "Bitcoin Wallet Seed Phrase, Seed Phrase, Electrum Seed Phrase or Trust Wallet Seed Phrase" e.t.c, while thirdly, it should either be arranged in descending, ascending or diagonal order, so as to confess anybody that might stumble across it not to know it is a Bitcoin wallet seed phrase.
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Royal Cap
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March 29, 2025, 07:39:09 PM |
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There is no telling when danger will strike. Actually, it is not good to backup our seed phases in one place. We need to backup them in multiple places. First, I will save my seed phases in a new Google account of mine. I will never share it with anyone. Because online is safer than offline (in case of natural disasters). Then I will ask a trusted person to backup the seed phases. It can be your mother or wife or any of your family members.
It's actually my personal opinion...
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sokani
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March 29, 2025, 08:19:00 PM Last edit: March 29, 2025, 09:19:17 PM by sokani |
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If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
We should backup the seed phrase in a way that no matter what happened, we should still be to have access to the seeds phrase. What are you approaches to make sure that no matter what happened, you will have access to your seed phrase if you are still alive and your brain is functioning properly.
Offline is the best and safest way of storing the seed phrase. You either write in on a piece of paper or crest it on a metallic steel plate and store in multiple places. That way, if there's a fire outbreak, flooding, tsunami or earthquake at where you at and the seed phrase gets damaged or is unrecoverable. You can access your funds from the one stored in another location.
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Gozie51
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March 29, 2025, 08:24:55 PM |
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Apart from the offline mode of storing your seed phrase in different places in your house or other location, I would have suggested storing it somewhere in the inbox of a platform you are and you are quite sure that you have the password of the platform off hand.
When I say platform I mean social media platform including X or email address because I believe that there must be a password out of the social media accounts we have, that we know the password off hand. So if it is stored in that one, the password to access the platform and see the seed phrase at the inbox will be readily available in our head. However, the challenge with this is that someone may have problem with their head either through accident or dementia can set in and you can't remember the password.
So to me I still suggest storing in different places off line.
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Saint-loup
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March 29, 2025, 08:49:25 PM Last edit: March 29, 2025, 09:03:00 PM by Saint-loup |
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Unfortunately I have to agree with you, if there is a natural disaster like a earthquake or a war and some bombing. You are more likely to lose your crypto than your fiat money in your bank account. But it's up to you to leave some funds on a serious platform or to leave part of your seed into an online safeguard while holding and remembering the passphrase if you think those risks have likelihood you can't ignore.
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Stable090
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March 29, 2025, 08:52:11 PM |
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When I say platform I mean social media platform including X or email address because I believe that there must be a password out of the social media accounts we have, that we know the password off hand. So if it is stored in that one, the password to access the platform and see the seed phrase at the inbox will be readily available in our head. However, the challenge with this is that someone may have problem with their head either through accident or dementia can set in and you can't remember the password.
So to me I still suggest storing in different places off line.
Storing your seed phrase on a platform is one of the greatest mistake which anyone can make when storing their seed phrase. Platforms which you are talking about can easily be hacked, if your account is hacked, then the hacker will have access to all the information which you store on all those platforms, that’s why it’s really wrong to leave your seed phrase in anywhere there is internet connection. If you are storing your seed phrase, then it should completely stored offline, where there is no internet connection, at least no one will be able to hack into it, store your seed phrase offline, and make sure no one will be able to see where you store it.
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Wiwo
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March 29, 2025, 10:00:04 PM |
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Very well make sure that you have multiple records of your seed phrase duplication saved, this way you will not lose everything or anything in the incidence of earth earthquake or other natural disaster that many think will end all your records.
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Davidvictorson
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March 29, 2025, 10:13:20 PM |
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Very well make sure that you have multiple records of your seed phrase duplication saved, this way you will not lose everything or anything in the incidence of earth earthquake or other natural disaster that many think will end all your records.
There are no two ways about it. To be prepared for certain unforeseen circumstances is to save yourself from future loss. If you live in a region that is prone to earthquake, plan for it. If you live in a flood-prone region, plan for it, if you live in a volatile region, plan for it. Aside having multiple backs ups, if you can move of those regions to place that are more stable but then if you don't have the means, then having multiple storage locations would dreatly help.
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Miles2006
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March 29, 2025, 10:31:54 PM |
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If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
We should backup the seed phrase in a way that no matter what happened, we should still be to have access to the seeds phrase. What are you approaches to make sure that no matter what happened, you will have access to your seed phrase if you are still alive and your brain is functioning properly.
Definitely, if such thing happens there’s a 90% chance the person might lose everything including their personal property. When creating a plan A concerning storing our seed phrase we should give room for further planning also “plan B” consider storing your seed phrase using a metal or other safety material that can’t be destroy secondly store differently using paper etc. important informations are not meant to stay in just one file instead choosing when and where matters, for example they’re sign before a city experience natural disaster but, when it comes to unexpected war it’s difficult understanding what to do instead life is more important, no doubt an investor will miss out if he/she is not smart enough.
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Stalker22
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March 29, 2025, 10:33:49 PM |
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Having just one backup copy of your seed phrase does not necessarily have to be a disastrous solution. They call it a backup seed phrase for a reason - its meant to restore access when something happens to your main wallet. the important thing is keeping that backup someplace secure, ideally somewhere else entirely from however you normally access your coins. Whether thats a hot wallet on your phone or a cold wallet like a hardware device, you wanna make sure that backups tucked away safe so you can dig it up when the crap hits the fan.
Sure, having multiple copies in multiple spots would be more secure. But for most folks one solid backup stored properly is sufficient. Just dont keep it digitally on the same device or in the same location as your everyday wallet, secure it well, and test it now and then to make sure you can actually restore from it if and when disaster strikes. Take those precautions, and a single seed phrase backup can tide you through most crises that might lock you outta your stash.
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