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34 sats \ 5 replies \ @Bell_curve 24 Dec \ parent \ on: How to Lose a Fortune with Just One Bad Click security
One lesson is that 10 hot wallets are more secure than one hardware wallet.
Eliminate single point of failure
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28 sats \ 3 replies \ @028559d218 24 Dec
I disagree.
No hot wallet, or cold wallet for that matter, will stop thieves if the victim literally, voluntarily gives out a seed phrase over the phone.
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0 sats \ 2 replies \ @Bell_curve 24 Dec
He should have at least 3 different hardware wallets or desktop wallets
Or run a node
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11 sats \ 1 reply \ @028559d218 24 Dec
Those things not mutually exclusive. I know some people like multi-signature. At least that way he couldn't give out a seed phrase if drunk/tired/lack of judgement etc. For those amount of sats seems worth it imo
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25 sats \ 0 replies \ @Bell_curve 24 Dec
Agree about multi signature
You’re right: he can do all of the above
Edit: If you only have one wallet then multi signature is the best option
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11 sats \ 0 replies \ @chaum 24 Dec
True, that is more resilient, but the backup solution will be more complex/complicated if you're not using multisig.
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