Topic: A idea from my home boy - page 4. (Read 674 times)

I wouldn't say it's stupid but it just doesn't seem like it's going to work for me. The risk is too great especially with the loss of one of the two, I think in this case I still like to use the usual way by splicing as a whole without any separation.
I don't want to inconvenience myself in this case so I prefer the conventional way that I have always done.
Indeed, such a thing is still possible to do for some people on the pretext of being more secure from theft, but on the other hand, in my opinion it is quite complicated because the conditions become several things can happen such as losing one of the 2 seeds that you separate it actually makes the steps you take to secure it actually make you lose it.

Or maybe you can used or implement:-> https://iancoleman.io/shamir/

Of course, it might not be perfect as it could have it's flaw. There is also a good discussion here, Ian Coleman BIP39 / Derive P2SH addresses from Electrum generated Seed.

For aging people, this isn't going to work. Memories of the people that are in that bracket are weak. Well, even I, I'm not yet an elderly yet I've got problems in remembering things. If it's going to work for him, he knows what he's risking and there's no blaming with this way of keeping your two/four recovery seeds. Those that are still young and has a sharp mind and brain, maybe it will work if they do something like this. But IMO, I'll never suggest it.

I like that idea, but it carries a risk of loosing either of them. I have tried many ways to store my seed before and I have found one which still works best for me.
What I use is many random words in a piece of paper. I randomly put my seed in them and list the numbers where they are. Then I take that number individually, randomised it and then turn them into morse code. After that I have painted that morse code on my wall, piece of paper and wood to keep it safe. To a normal person, it will be just dot's and lines. But to me, I know what it is. Also, this will ensure the safety that you can individually back up that word list as well as the morse code to 2 different online platforms. Just make sure to make the word list so big that no one will be able to figure it out. And keeping them in individual platforms as well as hard copy will ensure that you will never lose either of them.

I know making online backup is quite risky. But big word list is quite hard to crack. Imagine putting 500/1000 words in a list. Good luck to the person trying to crack it. Or you can just back up the word list and keep the morse code to yourself. Less to worry about.

I am doing this for a long time and haven't faced any issue. But if you ever want to try it. Do some research on your own.

That is not too bad, but for him to remember the splited ones is the major issue. But if he can remember them then it is not a bad idea. because I noticed that he is trying to make sure that when he mistakenly lost the one he has written down and someone found it and want to use the seed phrase to login to the wallet and since two words are missing, he could not do that. Written the two words down and still memorizing them in your brain is a good arrangement of storing seed phrase.

Haha distributing the keyphrase, why is he going to gamble with the 10 to 12 ratio or 20 to 24 ratio he should prefer 50-50 for better security if he really thinks that by this strategy he or she can store his/her recovery, (So-called Safe). The idea seems to be inspired by the old treasure map stories where the map is divided into 2 or more parts for make sure the security of the treasure.

I will Strongly disagree with the idea because rather than securing two parts on different placements I will prefer the more efficient security of the single paper. Well, the idea is not bad but there are a few things that make me think about having a single sheet to be secured.

I believe that when it comes to storing coins, people should not merely rely on public opinion, but also on what they know about themselves. I know that my memory is average, but not reliable enough that I'd trust it to not forget a passphrase. I know that I never take my laptop outside my flat, and that a chance of my particular flat being robbed is pretty small. I also know that I'm way more likely to forget where I put that second piece of paper with the two remaining words than be compromised because of downloading malware or something like that. So based on that, I wouldn't separate the passphrase storage into two places, but that doesn't mean it's the right decision for everyone.

I don't like the idea of splitting your seed phrase and hiding 10 words in one place and the other 2 words in another place. Instead, you could find a safe place and hide your full seed phrase there. To be honest, using these tricks could make it even riskier and it's unnecessary to do so.

I suggest simply writing it down on a piece of paper and hiding it in a place that no one has access to. Probably you could just make 2 copy of the papers and do the same by hiding in in a safe place imho.

Don't try to make your own system when there already are working mechanisms of storing seed words.
The most basic one includes multiple copies of all seed words in multiple geographical locations. If you want more security, set up a passphrase and store it separately from your seed. Obviously, you should have several backups of both. Finally, you can create a multisig setup made up of different devices that hold the keys. Preferably, an airgapped computer, a paper wallet, and an online machine or mobile wallet.     

Well, if you ask me, it seems like this guy's trying to split up his lottery ticket numbers! Seriously though, the idea is creative - gotta give him that. But, isn't it also like begging for trouble? The recovery seed is the master key to your wallet. Lose a word, and you might as well have thrown your bitcoins to the wind.

Consider this, the memory can play tricks on you. One day, you might remember those two words, the next day, poof! They're gone. And what if the place he hid those words got compromised? Or worse, he forgets where he stashed them? This plan, while intriguing, is a risky gamble.

He should just take the traditional path - write all the words down and store them securely. There's no need to be a daredevil in matters of security!

I don't that that there is any need for doing something like that because it's always preferable to store your whole seed words in a single text file and save that file on multiple storage devices, and then disconnect all those storages devices from internet. With that simple step our seed phrase and our private key gets the top level of security because no one else can access those other than we ourselves.

I must say that his idea isn't great at all because why take a lot of burden if you can follow the easy path which has already been tested and is currently the most secure and trusted method to keep ones private keys or seeds words without any worries. I think it's always safe to go with the tested method which I have already explained because that method can't be hacked with current GPU's or any other hacking methods.

The most problematic thing that can happen with such idea is brute-force attacks because if someone knows 10 words out of 12 words or 20 words out of 24 words then that person can easily brute-force that wallet and gain access to it. Brute-forcing of 2 words isn't hard these days thanks to powerful GPU's, and even 4 words isn't that much trouble causing for someone who has cluster of those powerful GPU's.

If you write out the whole recovery phrase and decided to take only two or four out and safekeep them, my question now is that if you could actually finds a means to keep the two or four seeds phrase secured why can't you do same for the remaining 10 or 20 completion of the recovery phrase, you're just saying that if you have a password, you can leave part of it exposed to people and keep the remaining to yourself, find a means to safekeep all the seeds and then sleep while the fire is on the mountain with part of your seeds exposed out.


Best advice is for him to calm down and look for more secured ways to keep his keys altogether and avoid third party influence or exposure, he should not trust his brain memory for those two words over a long time, we can forget things over time base on research and findings except if written down on something to serve as remembrance.

it is good idea but risky one, may the 10 words written on the paper get destroyed or get lost?

here's my idea very similar to this.

you can write 10 words on you steal or metal door or steel sheets and you need to store that remaining 2 words in very secret place or very securely. or repeat those 2 words every morning. so those words get stuck in your head

Or just make your own encryption, I can share one which I made myself and I no longer use now but is good enough.

1. Reverse the words
2. Replace 1st word (A) with second last word (Y) and do it for every character in your words
3. Replace some characters with integers (1, 9)

Now to decrypt this, just need to follow from Step 3 to 1.

You can learn any programming language and code this yourself. Python will be the recommendation.

This is not that bad when he has strong memory because he will gonna keep that seed phrases for years and when he doesn't review everything every 2 months in minimum, then I absolutely believe that he will gonna forget everything. The best thing to do is whenever you want to hide it in multiple places by dividing the total words, you need to appoint a schedule where you will gonna review everything or place them in different places in order to secure it. Some people don't really need to do this because they memorized their seeds but others need to do it because they don't have strong memories to remember.

I don't know for me in my case, despite the easiest password that I've made if I haven't use that words or the account I always tend to forget it. Worse thing is I also forgot where did I put my emergency recovery if it's on my note, my messages or etc. In short, I think it's not a great idea to separate something important especially if those words are needed together. Well we all have different capabilities to remember something or in storing so it's depends on the person with his/her prefer method to do since it their assets at stake. As long as you think you are secured with the thought you're having. Just have an alternative recovery in case.

There are many ways to store seed phrases, and each individual has their own method.  we shouldn't judge someone else's method as bad just because it doesn't work for us.  It might not work or give you security, but for that guy, it's for the best for him. in my opinion, store your seed phrase your way, you don't have to imitate someone, whatever the method, as long as you feel safe with it.

I have had this experience before. One time I tried to take the complex approach to safe guard my seed phrase in a bid to make it harder for someone else to gain access to it. Long story short, I ended up losing it myself. Counter-intuitive processes are smart but not always the best idea. Also, it's not completely ruled out. If he feels it's the best way to safeguard his assets, then it's all good.

I read about Brainwallets in ethereum book by the same author who wrote the bitcoin book and it's not a recommended approach when it comes to creating wallet and safeguarding the key/mnemonic phrase.

I think it's a good way to save a phrase, but only if the person is sure enough that the remaining phrase won't go off his head. Those 10, or 20 written-down phrases on a piece of paper will be kept safe out of the reach of others, and even if there is any chance that someone will come into contact with those phrases, they won't be able to access the wallet because of the other missing words.
 
I can remember a guy back then whose wallet had a private key, and among the 64 characters, the guy had four of them removed from different places, not just at the end or beginning of the wallet. This makes everything very complicated; he removed those words and stored them in his memory, and the rest of the key is stored in his email, where he can access it wherever he is. This makes the wallet security strong to me, because in such situations, even if one is given those four missing characters without knowing where they properly belong, you won't be able to access that particular wallet.

What you are trying to create is a Brainwallet; read here - https://en.bitcoin.it/wiki/Brainwallet

It has its problems and hence is not recommended. Now I am not the person saying this, I came across this concept long back and while searching on the net found out about it and the talk given by Ryan Castellucci at DEF Con 23 which was like 7years back when I first started delving into cryptocurrency.

https://www.youtube.com/watch?v=foil0hzl4Pg

The bitcointalk thread that came out as the aftermath of this discussion is here - BrainWallet Defcon Attack Discussion, Advice, Q&A, Brainflayer Info, etc.

Please do give the video a watch and proper listening, advice your friend to listen to it too.