Post
Topic
Board Bitcoin Discussion
Re: Gifting satoshis to future generations
by
adaseb
on 02/01/2020, 05:55:22 UTC
Why don't you just tell the kid when he grows up the 12/24 word mnemonics? Depending on how much money we are dealing here you can probably just remember the words.
You should absolutely not be trusting your memory, especially not over a period of 20 years. You can guarantee at no point in the next 20 years you will be knocked on the head, be in a car accident, have a stroke, or any of the other 100 things that can cause memory loss? I don't think so.

When you make the wallet, just pick a mnemonic where you can piece together a poem or story and just tell it to the kid its entire life.
This is equally bad advice. You should never "pick" a seed phrase. Humans are bad at being random, and anything you pick is therefore weak. Seed phrases should be generated by your wallet from your random seed number.

I somewhat agree with your first point, regarding the second point, I didn't say to manually create a 12/24 word seed from scratch. As far as I know that is not even possible. There is some checksum that it needs to pass.

I just meant create a wallet, look at the seed, see if you can make a song or book out of the words, if not, delete and create another wallet until you find one that works.

If you got words like

happy chicken egg horse jumped water child sad wet ....

You can easily make a story.

The happy chicken laid an egg while the horse jumped over water and got the child to be sad because he was wet....