Topic: How to use private keys post societal collapse - page 2. (Read 248 times)
All of the answers listed above rely on the assumption that the economic and societal collapse does not fundamentally affect the availability of internet. If internet goes down then all your ownership of Bitcoin will not be much use to you
OK,but what if OP doesn't have money to purchase another hardware wallet or he goes to a country,where hardware wallets are not sold?
You'll have two options. The first is to purchase another hardware wallet and restore your seeds using it. The second is to download one of the popular wallets out there and restore it. Most of the hardware wallets generate BIP39 seeds, but you'll still have to know the derivation path for your specific wallet. It shouldn't be a problem because that is public information.
If you used a hardware wallet to store your Bitcoins, it would be far more advisable for you to just restore it to another hardware wallet to maintain the security. If not, then I believe I've already stated that you don't necessarily need a hardware wallet. 
You'll have two options. The first is to purchase another hardware wallet and restore your seeds using it. The second is to download one of the popular wallets out there and restore it. Most of the hardware wallets generate BIP39 seeds, but you'll still have to know the derivation path for your specific wallet. It shouldn't be a problem because that is public information.
OK,but what if OP doesn't have money to purchase another hardware wallet or he goes to a country,where hardware wallets are not sold?
Now, that means you have successfully demonstrated how Bitcoin cannot be confiscated. That's a good way of illustrating how Bitcoin is indeed about complete ownership. You own your Bitcoin. In that way, your worth is kept safe and untouched despite a situation when the economy and society collapsed. The next steps that you will do are the ones detailed above my post.
But I will ask you, what exactly do you mean by societal collapse? Because if it is a situation when the entire society is reduced to rubles and people are going back to the primitive ways, then I'm afraid Bitcoin is also rendered worthless.
But I will ask you, what exactly do you mean by societal collapse? Because if it is a situation when the entire society is reduced to rubles and people are going back to the primitive ways, then I'm afraid Bitcoin is also rendered worthless.
Bitcoin CAN be confiscated.This has been proven many times.Just ask the FBI or any Ministry of Internal Affairs in almost any country in the world.
Hypothetical::So the worst has happened, economic and societal collapse. My family escapes to a bitcoin-friendly (or unfriendly) jurisdiction. I do not have my hardware wallet. Before fleeing I smashed it to pieces, least it's confiscated. Seed phrase memorized and ready to go. Now what?
OP,why do you have to smash your hardware wallet?Can't you just take your wallet with yourself?
What do you mean by "economic and societal collapse"?A war situation?A natural disaster?
In case of economic collapse there are two case scenarios:
1.You get flat broke and unemplyoed,which means that you have sell your BTC,in order to survive.
2.Facing hyperinflation,which also means that you have to sell your BTC,in order to have food on the table.
Both case scenarios have nothing to do with you smashing your hardware wallet and memorizing a seed phrase.
Now, that means you have successfully demonstrated how Bitcoin cannot be confiscated. That's a good way of illustrating how Bitcoin is indeed about complete ownership. You own your Bitcoin. In that way, your worth is kept safe and untouched despite a situation when the economy and society collapsed. The next steps that you will do are the ones detailed above my post.
But I will ask you, what exactly do you mean by societal collapse? Because if it is a situation when the entire society is reduced to rubles and people are going back to the primitive ways, then I'm afraid Bitcoin is also rendered worthless.
But I will ask you, what exactly do you mean by societal collapse? Because if it is a situation when the entire society is reduced to rubles and people are going back to the primitive ways, then I'm afraid Bitcoin is also rendered worthless.
1. Generate a new seed phrase (using the hardware wallet or an airgap system with any HD wallet)
2. Add an extension word (sometimes referred to as passphrase)
3. Send all your bitcoins to a new address from that new wallet
4. Tattoo the seed phrase from step 1 on your butt cheeks
5. Memorize the passphrase from step 2
Some optional steps:
A. Create a new wallet from the seed phrase in step 1 without using the passphrase in step 2
B. Send some small amount to that wallet for plausible deniability
2. Add an extension word (sometimes referred to as passphrase)
3. Send all your bitcoins to a new address from that new wallet
4. Tattoo the seed phrase from step 1 on your butt cheeks
5. Memorize the passphrase from step 2
Some optional steps:
A. Create a new wallet from the seed phrase in step 1 without using the passphrase in step 2
B. Send some small amount to that wallet for plausible deniability
You'll have two options. The first is to purchase another hardware wallet and restore your seeds using it. The second is to download one of the popular wallets out there and restore it. Most of the hardware wallets generate BIP39 seeds, but you'll still have to know the derivation path for your specific wallet. It shouldn't be a problem because that is public information.
Well, you just have to keep remembering your Seed phrase until things settle and order is restored. Maybe write the Seed phrase down to also make your trusted person memorize it as well in case you get into trouble and stoned to death. Once the order in the society is restored I guess you can install a wallet and recover your funds to live happily ever after.
It's sort of easy to read but it's a lot harder actaully when there will be restructuring of government in your country. It will take years of hardship. I have thought of it for a long time and I'm sure I'm gonna forget about my seed phrase so I'd probably just print a paper and seal it tight and bury it somewhere.
Hypothetical::So the worst has happened, economic and societal collapse. My family escapes to a bitcoin-friendly (or unfriendly) jurisdiction. I do not have my hardware wallet. Before fleeing I smashed it to pieces, least it's confiscated. Seed phrase memorized and ready to go. Now what?
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