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16 sats \ 0 replies \ @lunabrokein2022 22 Jan 2023 freebie \ parent \ on: Running Ethside: An Ethereum Fork that runs on Bitcoin bitcoin
it's better for them to continue shitcoinery pumping BTC at least, rather than not.
All shitcoins completely miss the point of the Bitcoin revolution - and they will continue to into eternity. Whether it's on Bitcoin or not, should not have any effect to the people who understand Bitcoin's purpose
131 sats \ 1 reply \ @lunabrokein2022 OP 9 Oct 2022 freebie \ parent \ on: Securing Your 24 Words bitcoin
Thanks for the thorough reply!
I do acknowledge that funds are often lost by the user, so I have been careful to err on the conservative side when setting this up, trading off security for redundancy. I stayed a year with this setup while having the words loaded in a hw wallet too.
I see 12 words + encryption passphrase as one unit, because they're always kept together. That is stored in 3 physical locations as I mentioned.
The other 12 words (2nd piece out of 3) are kept in 4-5 digital locations.
The encoding method is also stored in 4-5 digital locations.
It is also easy enough to remember, so can be brute-forced by me if I forget the exact details of it. I think this solves B) pretty well.
As for A), I think a replication factor of 3 is sufficient - although I can certainly improve it a bit further (e.g even bank custody) given that even those words can be encoded. The encoding I really like because it opens up a lot of practical applications that I otherwise would have been uneasy to do (e.g storing plaintext 12w at a bank, at a friend's house, etc.)
Look into standard backup schemes and evaluate whether these cover your bases.
Thank you, I will research more into that and really dive into Lopp's post -- this is the second recommendation now.
GENESIS