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100 sats \ 4 replies \ @025738dda8 2 Nov \ on: For individuals - split seed phrase, seed phrase and passphrase, or multisig? bitcoin
Instead of splitting the seed mnemonic (according to BIP-39), use SLIP-39 - shamir backup that is designed exactly for this purpose. The most recent version allows you to start with a single seed mnemonic and later create n-of-m shares scheme when you know that you need it.
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0 sats \ 3 replies \ @BitcoinHandsOn OP 2 Nov
SLIP-39
How does it improve on just splitting the seed mnemonic, could you give me the lowdown?
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100 sats \ 2 replies \ @optimism 2 Nov
Shamir's lets you split it into a 2-of-3 for example, so you are hardened against loss. Loss is still the #1 enemy.
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100 sats \ 1 reply \ @BitcoinHandsOn OP 2 Nov
So, is that like having a 24 word seed phrase, then you split it into 3 parts - one with say the first 8 and the last 8, the other with the middle 8 and the last 8, and the third with the first and middle 8, that type of thing?
(never mind, I did a little research on Shamir's Secret Sharing. seems very different).
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0 sats \ 0 replies \ @optimism 2 Nov
The idea is like splitting 24 words in 3 parts of 12, or 4 parts of 12, or 4 parts of 8, but so that you can form the whole 24 with only 2x 12, not 3x 12.
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