Post
Topic
Board Bitcoin Discussion
Re: 3 seed words + passphrase
by
NeuroticFish
on 05/06/2020, 09:59:07 UTC
I have to admit that it came to me a number of times how quite hard it is to be your own bank, especially if you have tens of BTC.

I am on the same page, I don't have a huge problem yet with my private keys, there's no life changing amount to hide  Smiley

I have a little amount myself and created a total of three copies of my seed words and I can only remember the hiding place of a single copy. I cannot remember where I kept the other two, must be somewhere in the pages of one of my books or under files of old papers. If this tiny box I'm living in right now will catch fire while I am away-- God forbid-- I will lose everything of it. And I also don't deem it safe to keep a copy in my wallet.

If my memory serves me right, I think even Andreas Antonopoulos himself ironically mentioned in an interview that he's got a copy of his seed words written on a piece of paper and kept in a bank's storage.

Bank's storage can be a valid place since it may be opened only by you or with your death certificate, afaik.
But back at hiding in plain sight: somebody from the family also needs to know where to look, obviously. Preferably somebody who doesn't know much about computers and bitcoin. (So yes, the suggestion still stands.)

And about catching fire, well.. I see it the same as burglars coming in (so this makes crypto steel useless) : backup at somebody else. And this backup can be made in a way only you can understand it - sealed envelope with a "letter" in a specific format to a password protected USB stick... it's up to one's ingenuity. If Bitcoin gets to 100k-500k a piece I will give it a bigger thought.  Wink