Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bitebits
on 24/03/2020, 05:33:02 UTC
⭐ Merited by JayJuanGee (1) ,vapourminer (1)
[...]
Coming up with a new cold storage solution is not simple when you don't trust that your home won't be over-run. If I was thrown in jail I'd like the peace of mind that every day I'm in there I'm getting richer and richer and nobody can steal my bitcoins while I'm in there.


Elwar just memorize the 12 word seed and store the Shamir Backup with friends and family (need X out of X pieces to restore the passphrase, setup supported by default on the Trezor T).

And if you are afraid of being physically threatened to move your bitcoins, don’t memorize the seed and setup multisig with a bunch of cheap Trezor One’s and Electrum. Look into the Electrum Cosigner Pool functionality, all you need to do is get in contact with a few of your co-signers and ask them to confirm the transaction you created in Electrum.

IMHO coldsteel like backup solutions are of the past. Storing an entire seed in one place is a single point of failure, including your brain and non-multisig Trezor hardware wallets (always use a passphrase on top of the seed to prevent yourself against having the seed extracted from the chip).


15% Trezor discount code until the 1st of April: STAYSAFE15