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74 sats \ 2 replies \ @porterbitcoin 22 Jan \ on: šŸ”Seed Phrase Security šŸ¤ security
The only way to secure that seed phrase in my opinion is to have it only stored in your brain.
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How much is that entropy reduced if you choose yourself your 24 words so you can have a better chance to remember them
A LOT. Do not do this.
An immense amount of work has been done over years on these subjects and you just need to look for it and reap the benefit of othersā€™ mistakes and permanently lost bitcoin.
Your fear is a 5 dollar wrench attack on your property and youā€™re trying to eliminate the threat of theft and loss. If you have that fear it means you probably have a pretty hefty chunk of bitcoin. If you have a hefty chunk of bitcoin and you want to self-custody, itā€™s time to learn about multisig.
You should read this whole article for starters: https://unchained.com/features/singlesig-vs-multisig
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10 sats \ 0 replies \ @Anonymous_Hodler OP 22 Jan
Article readā€¦ VERY interestingā€¦ Actually thinking of getting a second cold cardā€¦ setting one up with multisig 2 of 3 for long term savings and the second one as a singlesig for smaller amounts and maybe even decoy walletā€¦ I owe you one friend !
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10 sats \ 0 replies \ @Anonymous_Hodler OP 22 Jan
Ok you convinced me lolā€¦ I am in the wait to receive a tapsigner in order to setup a multisig but I am not yet familiar enough with it to feel more confidentā€¦ i ll definitly read your linkā€¦ thank you for providing @porterbitcoin
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