I guess actually I should say I am not really clear on what the difference between deterministic and paper wallets are.. I understand deterministic is a wallet that can be generated from a passphrase only at any time right? Wouldn't that passphrase written on paper be a paper wallet or no?
I am looking for the best way to go about this for a friend that wants to store some bit coins on paper in a safe box or something like that. I suppose a "paper wallet" could also be an encrypted digital text file too?
Anyway I'm looking for the most secure most trusted method to do this - main reason being that my friend i not very computer savvy or tech literate so storing and backing up encrypted files using ultra secure passphrases, etc. I think is not good for him.
One concern I have is what if the software I use to create the deterministic or paper wallet becomes unsupported at some point between now and when he wants to use the coins? Then what? Or is this not a risk? If so why? I'm thinking along the lines of like when you have a 20 year old tape backup but no hardware that can read it anymore. Is this a risk at all?
Thanks
