Topic: A idea from my home boy (Read 676 times)

Split the seed phrase and save it on 2 email accounts or is it safer to save it on 2 or 3 online storage services? I've heard of this method but I never believed in hosting on online platforms, even though it sounds like a pretty good way. But the inconvenience here is that you also need to remember 2 or more email passwords, and preserving 2 email passwords is like storing seed Phrases in 2 places.

To be fair, every method has its pros and cons, which may be safe for you but not necessarily safe for others. So let's keep it in the way that we feel is safest.

The idea isn't a stupid one at all but it's neither cool or great!
It's not a stupid idea because there's no uniformly accepted way of securing our seed phrase, everyone makes use of the mechanism that they feel comfortably safe about and if it's working for them so well then there's no way to describe it as stupid. The goal is to keep the seed phrase safe by whatever means and these means are different for everyone.

On the other hand its neither cool nor great, in that, you can forget those two phrase you think you have off hand through memory related sickness like stroke etc those two are lost for good. More so,  having the whole or part of your seed phrase store in a single location each is not safe, it would be safer storing them in multiple secure locations you can trust for security. Take me for example, I have my seed phrase stored in three different locations, be it a natural disasters or arson occuring there's no way it will happen simultaneously to affect these three locations at a time.

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Very funny, what a coincidence!

Year's back i had the opportunity to help one gentleman to unlock his tablet.

He was the rightful owner of that tablet. But, somehow the tanlet got stolen. After days of searching for the tablet he got an informations of the person that probably buy such item(s) so, i had to accompany him to this area. Luckily, for us we were able to find his tablet because it seems the so-called expert who normally unlock most blocked smartphone(s) & tablet were unable to unlock this one

So, we had to refund the exact which was paid to the seller(the person who probably stole the tablet)

Upon recieving the tablet, he has to insert the right passphrase in order to gain access his files. So, he tried to login with the passphrase but, access was not granted. He also check were he wrote the last 4 letters in his local language just to confirm that is the correct passphrase

I guess, the original passohrase has been frozen for security purpose. So, i had to use software to generate series of identical passphrases. Very complex procedure(s) but, i will not to explain this concept in details.

 At the end, i was able to access the tablet by resetting a new passphrase.

Final note; you see, i donot understand the local language of that fellow but, i was able to generate set of 5 key passphrases in less than 30 mins. in order to access a locked tablet.

So, generating 4 or 5 letters is as easy as drinking coffee☕ for experience folks.

I hope this help you and your colleague to make a wise decision.


Regards
Bitcseo

Fair point, people, when thinking of security, tend to only focus on possibility of someone hacking their keys over the internet, but that's only one of many vulnerabilities. Losing keys stored in a physical location also needs to be considered (be it theft, fire/water damage or simply forgetting when you put them) - and the more physical location there are - the greater the risk.
But perhaps OP meant to split the phrase and keep it separately in an electronic version, i.e. as an encrypted file saved on 2 separate email accounts etc.

Separating the seed phrase and storing it in two different places increases security but also brings more risk to our bitcoins. If we thought that storing the private key or seed phrase in 1 place wouldn't be secure enough and someone might find out. Then storing 2 places will not be more effective because, in the first place, we have chosen an unsafe storage place. I think this will only complicate things, not bring much effect. Instead, find the safest place and only we know about it, the storage will be safer and more convenient for us.

Such methods can be adopted for the security of one's wallet. A person who adopts this method must remember where he has separately stored two words out of twelve words or where he has separately stored four words out of 24 words. This method is as safe as it is risky, I say risky because whenever the total words are divided into two parts and kept separately if one of the two is lost or not found then the person can lose his wallet. I don't think there is a need to store the wallet's private key in two places if it can be kept in a safe place. Collection at one location is safer than collection at two locations if it can be safely stored in one location without separate storage.

I think if 2 or 4 words are separated from all the words it will be better safe. But it is better if you can memorize this 2/4 word if you don't put it somewhere else. It's easy to memorize but a lot of risk because if you miss one letter from these words you will lose all your money. In contrast, if you write down these letters in a good safe place, you can certainly save them in case you forget them in the future. But you have to hide it in a place that no one but you knows about so it will be safe. Otherwise, your currency will certainly not be good if some other experienced person gets hold of your stored words. So as far as possible you should write on paper or any important thing and keep it safe as possible.

This does not increase the security of their coins at all, as it would be the easiest thing in the world for a hacker, or almost anyone for that matter that knows a little bit about bitcoin, to test the 2 remaining words and eventually find the one wallet that has some bitcoin on it.

By doing this your acquaintance is making the recovery of their coins way harder while the security of their coins is not increasing significantly, making it a bad trade-off if you ask me.

Many people criticize this method but I also find that it is also a good way to store seed phrases. Maybe when we apply this method, it will be complicated and contain some risks, but it is probably the safe way for him. We cannot criticize it because it does not suit us. Keeping secrets in different places will cause many difficulties for us but at the same time will increase the security of our secrets. Everyone has their own method and no one will be the same.

For someone with a persistent memory or who lives somewhere that is not private and secure for him, this is an ideal way to save seed phrases. For those people, in my opinion, this way of isolating seed phrases can be cool.
This type of procedure should not be attempted by someone with a weak memory because they risk forgetting their seed phrase.
Even though I have a retentive memory and can recall things, I can't seem to keep two words apart, even though this method appears cool. 

It's better to talk to your wife than to keep it to yourself without anyone knowing.
Although there is a bit of mistrust (that's normal) it must be done for the security of your assets.

Your children will have to choose their own path, but when Bitcoin is earning enough money who wouldn't be interested?
Your children will be adults who will have an idea of how they make money and your assets will be valuable assets.

It's each person's choice. Adjust to your situation, if there is someone more trustworthy of course you have to make sure he is really trusted.
Your wife is the one who always accompanies you and she is also close to your child, so who else can be that close but your wife.

Could work for short-term storage but definitely not a great idea for a long-term one. It might sound safe at first it has some big security risks.
First of all let's start with that 2 words (out of 12). I'm fairly sure that if someone intercepts the first 10 words, brute-forcing the remaining 2 words would probably be doable. Especially if the thief knew that it's a 12-word seed and that the missing part are the last 2 words.
And memorising 2 words is obviously easy, but forgetting them is even easier. Most of people experienced suddenly going blank on something they remembered for a long time. Human memory is fragile and not reliable. We're not really "wired" to remember cold data, but rather to memorise experiences.

Second of all, whether or not that solution will be secure largely depends on how/where would you store the written-down phrase. Storing it on a piece of paper bears the risk of it getting: damaged (fire, flood, eaten by a dog etc), accidentally thrown away, lost (it's not hard to forget where you put it), stolen, or risk of the ink fading away over time or paper decaying etc. I wouldn't do it unless you have a home safe or bank deposit box.

This approach seems unwise. Instead of relying on a single written seed phrase that could be easily forgotten or lost, it's better to write your seed phrase on a piece of paper and store them in secure locations. You may make couple of copy. By doing this, you minimize the risk of losing access to your funds due to a single mishap.

Consider who you might be trying to protect your seed phrase from. Is it from your family members? Keep in mind that if you take these precautions and something happens to you, your family may not be able to recover your funds. It's essential to strike a balance between securing your assets and ensuring your loved ones have access to them in case of any unfortunate circumstances. Leaving some funds accessible to your family, which you've worked hard to earn throughout your life, can provide peace of mind for everyone involved.

It is always a good idea to plan an inheritance for your bitcoin to anyone you trust in your family members. That is the most important piece of advice to consider considering that no one can access the wallet if they don't have the key. You can give your wife your spare key if you trust her, but if not then you can also go the other way that many other big investors do.

I believe my wife is the right person to have a backup of the seed or privatekey of my bitcoin address, but I believe not everyone will trust their wife 100% for high value assets. But ultimately it's up to you to adapt how you inherit your bitcoins to whoever is entitled to receive them.

I have planned that but for now no, the children are still not grown up so he will not understand for now, my wife is still not sure even though I believe in her, but I have talked to her that I have kept some seed phrase reserves that she will definitely know later I will also inform her more clearly.

Yeah, I'm planning to pass it on to the kids, I want to know how the kids will like it, whether he will like bitcoin or something else I can't be sure, let him choose his own path.

Storing your seed phrase or private key in two separate places is not a bad idea, of which only if those locations are safe, then it is okay. But trying to store them "off-hand" (i.e by memorizing it), I think that will be the worst idea anybody could ever come up with, as our human brain is not a machine and we are likely to forget if stressed or have an accident which affected our brain. However, I have also seen others ask if can they store their seed phrase in a foam of a song? Which I think it's also another bad idea if the song is not written down and stored in a safe place.

Using this method, it is important that the storage is correct and the notes are safe from damage.
Separate storage with 2 notes bound together requires a place that is completely safe from anything.
If one of the notes is lost and not found then the wallet cannot be opened.

Being inconvenient is fine as long as the backup is secure.
But if there is no guarantee that it is safe then use other methods.
You also have the right to inform your trusted people, such as your wife, or your children because backups are useful when you cannot access them due to some unforeseen events.

The backup needs to be kept secret from outsiders, or it can become a legacy that your family will use later.

I do not know if this is a bad idea or not, they have a way to keep notes safer again, for them to record 10 words or 20 words and the rest of it is stored separately in different places maybe for him it is quite safe this is also the best way to store seed phrases in different places and have two different notes.

I don't do that but I save on one record and backup it in different places of course this is safe friends no one knows anyone including family, for me this is quite safe although there are some other ways that are safer but it makes me more complicated to do it.
The important thing is the backup and the place that needs to be safely kept secret.

As long as the seed phrase is not saved online where hackers or thieves could get their hands on your seed phrase that could open up your wallet. Shuffling can be confusing to owner as well especially if not saved properly. Imagine for a long time the last time you checked your seed phrase was a year ago. So probably you would forget the sequence and have alternative storing for the sequence which is kinda hassle and complicated. I won't argue that every method in storing of seed phrase doesn't have any risk, since it depends on where we are comfortable to save our passwords. "Sharing our seed phrases to our loved ones might be a good idea" I actually told my girlfriend where I stored some of my password so incase I forgot she might have an idea which is pretty good.

Hello Mr @obari, I don't think that op home boys idea is a bad idea, it's more riskier to store your seedphrase at a particular place, what if somebody by any means sees it? No were is saver than separating thing, i.e if you invest in a particular coin and the coin crash to score zero you are definitely going to lose all but if you invest in several investment's and one crash the other might remain for you.
If someone can remember his/her contact information or bank pins so I don't think that a pronunciation is hard to remember, prove me wrong, before someone should invest in Bitcoin that person should be so smart enough to remember things, been a good investor requires enough brains and smartness, is only a dull person what can easily forget things.