Hello guys. I don't know if it has already been mentioned, but I think it's interesting, for people who store paper/hard wallets in bank vaults :
Anyone who thought this was a good idea hasn't been paying attention.
As long as you use a really strong BIP39 passphrase and keep a backup on the seed GPG encrypted on an archival CD or a couple USB drives or the like... Maybe not the worst ever.
But yeah... Safe deposit boxes have always had a downside, and I think that downside is going to get more evident over time soon.
I thought that part of the point was NOT to have your key in any location in which someone else might get access, and surely you could be in trouble if you kept the whole key in a safety deposit box, even if you were to have a back up if someone were to either get into your box without your permission or before you could get to your back up and move your coins so that their access to your wallet would end up being empty (if you knew that the attack was coming in advance - which you may well not).
Another possibility would be to have ONLY 1/2 or 1/3 of the key in any one location in which you have concern that some unauthorized person might gain access. I believe that the best practice is 1/3, yet maybe even one half would be safe.. but there are some cases in which if some one were able to get 2/3 of your key in a 12 word set up, then they may well be able to brute force their way into finding the other 1/3. It is not easy being your own bank and having power over a bearer access like bitcoin, even if the footprint is way smaller than something like gold or dollars... You can store a lot of bitcoin in a small space - but you still need to be careful in case the place gets found out and hopefully you would not have the total key in one place - even though thinking about the washers... do you put 1/2 or 1/3 of the washers in each place, then you need all 2 sets or all 3 sets in order to get access to the wallet?
If you die and you have left instructions for someone, then they would need to recover all three parts and be able to put those three parts together.. and some people are not very technically sophisticated and maybe not even motivated to learn, but when you die, then they might be like "holy fuck.. how many bitcoins did billy bob have?" then they become motivated to figure it out, perhaps? Do they have all of the keys? or do you want to put all of the keys in the same spot so that they will know what they are looking at?