10 sats \ 5 replies \ @antic 11 Nov 2023 \ on: Resilience: Create a bitcoin wallet and address for emergency use bitcoin
I have an extra seed memorized along with one of the deposit pub hashes just for that case. Memorizing a seed is pretty easy, but it took a long time to memorize the deposit address. That’s one I only recently felt comfortable with but having that as a failsafe in my head makes me feel better.
Why would you need to memorise the desposit address?
EDIT: I guess it's useful to have the address handy without entering (and potentially compromising) the seed used to generate it. Plus the address has a checksum in case you misremember a character. Interesting, never considered this before.
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That’s the point. I created this seed after reading American Kingpin when I got to the part where the dumb cop stole a bunch of Silk Road bitcoin by sending it to his Coinbase account and then bought a boat and ended up in jail—not that I expect to stumble upon dark web bitcoin that I need to exfiltrate or whatever, but it got me thinking that if there ever was a situation where I wanted to arrange an anonymous transfer of bitcoin, I wouldn’t want to login to Coinbase or any other exchange to get a KYC deposit address, and I wouldn’t want to use any other address that I’ve generated that’s ever seen the light of day, so it got me thinking that it was worth it to set this up for the unknown emergency cases that you don’t expect. Like what if I’m visiting another country and a secret agent offers me bitcoin to do some wetwork? 🤣
the thing about the unexpected is that its hard to plan for what you might need to expect.
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That's probably not going to work out well if you need to use it.
You don't need to memorize an address. Memorizing a seed is risky enough, just make sure you have a steel backup somewhere
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You never know when you might need to type an emergency bitcoin receiving address into a phone in a foreign country. Lots of uses for a memorized deposit address that’s never seen a public network.
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Unless you literally repeat it to yourself everyday, you're likely to forget it.
Its a bad idea IMO
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