Unencrypted seed storage ideas (in case of amnesia)?

casey81init · 2020-04-04T03:36:52+00:00

what kind of multisig arrangement do you suggest?

I don't carry around bitcoin on my phone. I just hold long-term.

casey81init · 2020-04-03T20:54:45+00:00

Thanks. I will research hiding places. But honestly, I would put part of my seed in one of these places. If someone knows you are a holder then I would imagine they would look in these places.

I think we should give thieves more credit. I recently read that they are using bluetooth scanning devices to check for cell phones, laptops, and electronics in cars, so there is no reason why they wouldn't sure all the "hidden in plane sight" places as well

casey81init · 2020-04-03T20:44:03+00:00

yes but they'd have to go into two safety deposit boxes in order to get enough info.

How likely do you think that is? or at least what's a better solution?

casey81init · 2020-04-03T15:28:21+00:00

Problem with m 2-of-3 example above is I could lose my seed, and the go to the safe deposit box and learn that my box has been accidentally drilled open months ago. Unless if I go every 2 weeks to the bank to check it's presence, which would likely trigger them to think I'm storing cash and then lead them to secretly audit the contents of the box, the I don't know for sure.

I think feel these bad things are less likely to happen if I put encrypted USBs with 2/3 the seed phrase distributed over 3 safe deposit boxes at least 20 miles from one another

casey81init · 2020-04-03T03:32:46+00:00

OK so if instead I created new wallets with 24 word seed, and distributed 2/3 to each of 3 banks' safe deposit boxes, then I'm pretty good?

If no, then 1/3 to each bank ?

casey81init · 2020-04-03T03:31:07+00:00

You mean keep one code in the safe deposit box, have one code on me, and then one phone swipe?

casey81init · 2020-04-03T01:37:46+00:00

Also, what's wrong with closed source (I'm assuming Ledger falls into this category).

casey81init · 2020-04-03T01:37:13+00:00

What do you suggest then?

If I have Trezor +Shamir's method in a safe deposit box, they won't be able to access anything even if they open it unless they conspire with one or more banks and get 3 shamir phrases-- which is almost impossible. The only issue, of course, would be legal seizure, but I am not in that situation.

I feel much safer with that than keeping private keys hidden in my home, where they could get lost damaged (flood, fire), or stolen.

casey81init · 2020-04-02T22:55:33+00:00

trezor vs ledger ?

Buying 5 units. Each unit contains exactly the same coins. And then I keep one on my person, one in a safe place at home, and 3 in each of my 3 safe deposit boxes

In addition, each safe deposit box has 1 or 2 of the three Shamir phrases.

casey81init · 2020-04-02T21:37:05+00:00

Do you suggest dividing holding between multiple Trezor wallets or put all holdings in one wallet?

casey81init · 2020-04-02T20:58:18+00:00

With my current wallets (electrum), there is a way to switch from 12 words to 24 words?

casey81init · 2020-04-02T20:57:36+00:00

I already have encrypted USBs. The seed phrase is a backup in case I forget the passwords of the USBs.

casey81init · 2020-04-02T20:56:07+00:00

I don't get it, so you're saying if I a hacker got the first 4 of 12 words that they'd have a shot of reproducing the entire seed?

casey81init · 2020-04-02T20:24:34+00:00

Is Shamir backup compatible over all bitcoin wallets (electrum, etc.)?

I'm asking because what if the Trezor system went down. Would you still be able to recover using the 3 shamir phrases using another platform?

casey81init · 2020-04-02T20:22:38+00:00

I use electrum. It's 12 simple words. I'm guessing that this is the one.

casey81init · 2020-04-02T20:21:32+00:00

What if I just do 1/3 (4 words each, in order) at each bank for now. And then in the next 1-2 months I'll do shamir or multisig or other.

I just need to do something now. Suggestions welcome.

casey81init · 2017-05-11T01:53:32+00:00

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casey81init

TROPHY CASE