Bitcoin Passphrase Recovery | Bitcointalksearch.org

Kprawn

legendary

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Quote from: franky1 on October 24, 2015, 05:01:33 AM

Quote from: Amph on October 24, 2015, 04:33:56 AM

if the trusted fiend have a full acces to it, then he can steal your fund, in the case your friend will be not your friend anymore, and money are knwon to have this power over friends and family...

well soem are immune to greed but they are the minority

thats why OP said split it..

EG
lets say you know the social security numbers of your spouse and 3 kids
wife 077-99-0099
kidA 087-96-3021
kidB 097-59-1239
kidC 107-98-5868
now without telling them... you make a passphrase using those 4 SS numbers
077990099087963021097591239107985868
you then add on a secret word
077990099087963021097591239107985868hullabaloo

now this is what you write in your will
"dear wife. my savings are locked into bitcoin using you, and our 3 kids SS numbers followed by the safe word we agreed on when having rough sex"

that way even the lawyers wont know it

It would just get awkward for your parents, if your wife died with you in a car accident and they have to figure out your safe word for rough sex. Roll Eyes

Why not just keep this word with the institution that keeps your safe deposit box or your Will and testament? Once your will is read, the last word will be handed to the

beneficiaries or the key to your safe deposit box? Huh

Or have 4 questions with answers all 4 of them have, and if something happens to any of them, the remaining people

could still figure it out together. Cool

7788bitcoin

legendary

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This is really not an easy way to manage your bitcoin. Not everyone around you think bitcoin is something serious and most likely they will forget where they keep the part entrusted to them...

BitMaxz

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Quote from: DenisGorbachev on October 24, 2015, 03:39:59 PM

BitMaxz, you'll need to tell your relatives that the passphrase is like a "key to the chest" (chest = Bitcoin wallet). Once they have assembled the "key", they can open the "chest" and access the Bitcoins.

If you want the passphrase to be accessible strictly upon your death, you can put one of the pieces in your last will.

But how ?, do you think he can understand the puzzle of my wallet. How about if my brother or my mother has not literary computer illitirate? They can reciece my bitcoin?

teukon

legendary

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As Small link mentioned, for split keys multisig is the way to go. This general idea was discussed years ago and is very well established albeit rarely used.

Quote from: DenisGorbachev on October 24, 2015, 04:31:58 AM

Q: What if a trustee loses its piece of the passphrase?
A: You can send copies of the same piece to multiple trustees using a "split" technique:

Split the passphrase in 2 pieces
Send the 1st piece to mom and wife
Send the 2nd piece to dad and best friend

This is fine but notice that a more efficient arrangement is possible with 2-of-3 multisig. 2-of-3 multisig means that you have 3 pieces, any 2 pieces can unlock, and any number of pieces less than 2 cannot unlock.

For myself, I'd prefer a locktime-based dead man's switch.

Mickeyb

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Move On !!!!!!

Quote from: DenisGorbachev on October 24, 2015, 01:11:38 PM

Quote from: Mickeyb on October 24, 2015, 06:39:01 AM

There is already another thread where we were discussing this.

Just what was that thread? I honestly tried to find it, but couldn't.

Here are two threads:

https://bitcointalk.org/index.php?topic=736618.200

https://bitcointalk.org/index.php?topic=1134527.0;all

DenisGorbachev

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BitMaxz, you'll need to tell your relatives that the passphrase is like a "key to the chest" (chest = Bitcoin wallet). Once they have assembled the "key", they can open the "chest" and access the Bitcoins.

If you want the passphrase to be accessible strictly upon your death, you can put one of the pieces in your last will.

BitMaxz

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Looks like its interested. But how if i die how to send the bitcoin to my love ones or relatives or father mother sister or brother?
If i have phassphrase recovery how can i say to my family that files is very important and you can get my heirs. Huh

I think is the best way is to upload the file to a automated send with set time and date in what year . That's what i think

bryant.coleman

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I don't think that there is any need for all these trouble. Split your pass-phrase in to four or five parts, and store each of them in an USB drive. Store them in different locations (different bank lockers or residential safes). Mention in your will that you have kept the backups, with the details (in case anything happens to you).

DenisGorbachev

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Quote from: Mickeyb on October 24, 2015, 06:39:01 AM

There is already another thread where we were discussing this.

Just what was that thread? I honestly tried to find it, but couldn't.

JeffZwolle

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Quote from: franky1 on October 24, 2015, 05:01:33 AM

thats why OP said split it..

EG
lets say you know the social security numbers of your spouse and 3 kids
wife 077-99-0099
kidA 087-96-3021
kidB 097-59-1239
kidC 107-98-5868
now without telling them... you make a passphrase using those 4 SS numbers
077990099087963021097591239107985868
you then add on a secret word
077990099087963021097591239107985868hullabaloo

now this is what you write in your will
"dear wife. my savings are locked into bitcoin using you, and our 3 kids SS numbers followed by the safe word we agreed on when having rough sex"

that way even the lawyers wont know it

Unless they bug your bedroom or wherever you would use the safe word for rough sex
Roll Eyes

dothebeats

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Quote from: designerusa on October 24, 2015, 07:11:03 AM

Looks like great suggestions overall. But I still prefer to hold password in passworded personal lock.
And you can tell its pass to only 2-3 people.

The downside is once a person whom you gave the password to gets eaten by greed and decided to run away with the money, you can't do much about it. A split passphrase or a multisignature address is better in this case, as it would require multiple codes before you can move the funds.

CoinSkipper

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What's keeping your relatives from taking all your life savings?

That share of the encrypted code is a share of money. Some people will choose money over family sometimes...

You don't give your bitcointalk password do your friend, do you? Why the hell would you give them money?

designerusa

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Looks like great suggestions overall. But I still prefer to hold password in passworded personal lock.
And you can tell its pass to only 2-3 people.

Amph

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Quote from: franky1 on October 24, 2015, 06:48:28 AM

Quote from: Amph on October 24, 2015, 06:26:10 AM

the point still stand, if your "friends" work together to still your funds while you're still alive

assuming that you cannot trust anyone in your life, not even your family, there is no truly way of doing it without removing completely the possibility for them to have access to it early

you dont tell your friends..

you just have it in your will
"i decare that my 4 friends use their date of births, together in a certain combination. the order of the combination and the final code to end it can be found in safe deposit box 26 at bank of america, branch..."

your friends wont have access to the will or the safe deposit box until you die. and its the lawyer that would have to supervise the 4 friends as they put the puzzle together to ensure its split evenly

they never hear or know if it was their D.O.B, or SS number or any other info until the day of the reading of the will

there are still the chances that the money will not be delivered to who you want

for example 1 of those 4 friends may be in cahoots with the lawyer, to steal the funds from the other 3 friends, and divide the treasure between two and not for people, to have more...

or even worse if the lawyer take everything because he is corrupted or something

if i really want to deliver my money after i'm not here anymore, it's better to be one person only

franky1

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Quote from: Amph on October 24, 2015, 06:26:10 AM

the point still stand, if your "friends" work together to still your funds while you're still alive

assuming that you cannot trust anyone in your life, not even your family, there is no truly way of doing it without removing completely the possibility for them to have access to it early

you dont tell your friends..

you just have it in your will
"i decare that my 4 friends use their date of births, together in a certain combination. the order of the combination and the final code to end it can be found in safe deposit box 26 at bank of america, branch..."

your friends wont have access to the will or the safe deposit box until you die. and its the lawyer that would have to supervise the 4 friends as they put the puzzle together to ensure its split evenly

they never hear or know if it was their D.O.B, or SS number or any other info until the day of the reading of the will

Small

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Isn't this what a multisig can do without the use of backup? You can simply generate 4 of 4 multisig and send it to those 4 people and they would not be able to unlock unless 3/4 people agrees. It would be safer as there is a risk of them not being able to find the backup.

Mickeyb

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Activity: 798

Merit: 1000

Move On !!!!!!

There is already another thread where we were discussing this. I wouldn't complicate thing this much. What I did, I have written a short 2 page explanation of what to do in a God forbid event and left it to my wife. She would be able to react and would have access to the coins if something was to happen to me.

Everyone should do something like this and leave it someone of trust. I doesn't have to be your wife of course if you don't trust her!

Amph

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Quote from: franky1 on October 24, 2015, 05:01:33 AM

Quote from: Amph on October 24, 2015, 04:33:56 AM

if the trusted fiend have a full acces to it, then he can steal your fund, in the case your friend will be not your friend anymore, and money are knwon to have this power over friends and family...

well soem are immune to greed but they are the minority

thats why OP said split it..

EG
lets say you know the social security numbers of your spouse and 3 kids
wife 077-99-0099
kidA 087-96-3021
kidB 097-59-1239
kidC 107-98-5868
now without telling them... you make a passphrase using those 4 SS numbers
077990099087963021097591239107985868
you then add on a secret word
077990099087963021097591239107985868hullabaloo

now this is what you write in your will
"dear wife. my savings are locked into bitcoin using you, and our 3 kids SS numbers followed by the safe word we agreed on when having rough sex"

that way even the lawyers wont know it

the point still stand, if your "friends" work together to still your funds while you're still alive

assuming that you cannot trust anyone in your life, not even your family, there is no truly way of doing it without removing completely the possibility for them to have access to it early

franky1

legendary

Activity: 4410

Merit: 4766

Quote from: anthonycamp on October 24, 2015, 05:39:35 AM

i got my wallet passphrase into my folder D: of windows in txt file but very diff to acces my computer so its safe

the passphrase is just a password to access the wallet. its not the contents of the wallet, and its best to not rely on the password/passphrase as your only means of safety. backup the actual private keys holding your funds and regularly back up the private keys as bitcoin sends funds to different addresses when it gives you your change back.

put the private keys onto a separate storage device away from your computer.

afterall if someone broke into your house to steal your computer.. your screwed.
the wallet is gone..
and the passphrase is useless because its just a password to access a wallet that is now in someone else hand

but if you have your private keys backed up elsewhere. you can import the private keys into a new wallet

anthonycamp

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i got my wallet passphrase into my folder D: of windows in txt file but very diff to acces my computer so its safe

Topic: Bitcoin Passphrase Recovery (Read 1461 times)