Post
Topic
Board Wallet software
Re: Coinplate Steel Seed Phrase Saver
by
Pmalek
on 14/09/2022, 15:47:36 UTC
Ok. You suggest splitting seed phrasee into 3 parts and storing it in 3 different places. It turns out, 8 words for each coinplate. Then it would be right to add mini-coinplate (like coinplate split
It's not 8 words per seed plate, it's 16 words per seed plate. 8 words in total are missing from each share. No matter which two shares you have, you will have all the necessary words to restore your wallet.

I don't undertake to discuss the correctness of dividing splitting seed into 3 parts, since, for example, Pmalek believes that this is a bad idea (not only he thinks so).
I agree with Andreas in the sense that a seed shouldn't be split up because losing one part can create plenty of difficulties. In this particular example, losing one split wouldn't do that because you still have two remaining. And any 2 out of 2 shares are enough for wallet recovery. I am not sure what you can do with today's technology and how far we are from being able to bruteforce 7 or 8 words. But no matter how easy or difficult it is, bruteforcing 8/24 is exponentially faster than cracking all 24.

foggoat method isn't bad in the sense that it's ridiculous. It isn't. If you split your seed in the way he suggested and someone finds one of your backups, he would have 16 out of 24 words needed to steal the coins. If you have 3 different backups with all your words written down on all 3 pieces of paper and one of them got stolen, the thief would have everything they need to get to your coins. In that sense, it would have been better to use foggoat's splitting system.

But why give a thief even 16 out of 24 words if you can do it in a better way? With SSS, finding a share that is below a quorum, is like having found nothing at all. Even better, finding 1/3 of a 2/3 multisig gets you no closer to the coins because you need 2/3 to spend the BTC.