Most importantly, the discussion started from just simply keeping the extra backups of your seed phrase, not making it totally hackerproof or other things if I recall correctly.
True; I got sidetracked a little bit. Though if just your own house burns down (not a huge apocalyptic sized fire), you should have redundant seed phrase backups elsewhere.
If you were to keep just 3 straight backups of your seed phrase in separate locations, you will be better off using the scheme I suggested.
I guess both have their benefits and drawbacks. 3 full seed backups means almost guaranteed not to lose funds, while not being hackerproof at all.Your method would be more secure against an attacker / if someone found one backup, however the owner may lose 2 backups and lose all their funds or they could forget how the scheme worked and not be able to recover it.
And as we were discussing just a mere alternative way of keeping your multiple seed backups in different locations, I think that's quite good for something that is so easy to do.
Even for 12th words (which is not ideal) it still beats keeping multiple backups straight and fully, as it requires proper knowledge to crack even 3 or 4 words. A bit harder to do than just putting the words into a wallet. Overall multisig will offer probably much better security, but a bit more complicated to do properly.
I am not arguing that one is better than the other, though. I'm not pushing anyone to use that scheme. Different things for different folks. Never meant it as an alternative to multisig. Just replying to your arguments.
The reason why me and others 'quickly' bring up multisig is that it's less hard / scary to set up and use as some may believe.Even for 12th words (which is not ideal) it still beats keeping multiple backups straight and fully, as it requires proper knowledge to crack even 3 or 4 words. A bit harder to do than just putting the words into a wallet. Overall multisig will offer probably much better security, but a bit more complicated to do properly.
I am not arguing that one is better than the other, though. I'm not pushing anyone to use that scheme. Different things for different folks. Never meant it as an alternative to multisig. Just replying to your arguments.
No worries! Just want to make sure before you recommend custom backup schemes to customers that they are aware that we already have tried, tested, documented and popular schemes (maybe a little more effort to set up) that they could have an easier time recovering, years down the line. If not just because they are more common.
It is a simple no-tech idea meant as a way for keeping multiple seed backups in separate physical locations, where you are not able to keep an eye on all of them for 24/7.
This is quite a digression from the main topic and maybe it would be best to not make this the center of this thread and avoid jumping into this rabbit hole.
Sorry about the off-topic!This is quite a digression from the main topic and maybe it would be best to not make this the center of this thread and avoid jumping into this rabbit hole.