The point is, nobody with more than 1 bitcoin prefer to leave 24 words on a piece of paper.
First you said that cryptoplatz is well suited to back up software wallets whose seed has already been exposed to an online device anyway (fair point, as I said).
But now you claim that
actually, people will want to use cryptoplatz when they have 1BTC or more in a wallet, since paper is not good enough?
I personally don't believe anyone should store roughly $20,000 USD (at the time of writing) in a software wallet (except maybe exchanges since they need it for their operation).
This means the two statements appear as contradictory.
Most people should want to store +1BTC on a wallet that has been created on either an airgapped, offline PC or
mayyybe on an airgapped hardware wallets; in both cases, the seed never left the device except being shown on screen, allowing the user to write it down on paper.
Do keep in mind that they can easily do 10 copies of said paper and laminate them (waterproofing), to store in various locations. All offline, all without any security concerns.
Why would such users want to now
enter their very secure seed in a phone app?
https://i.postimg.cc/fWPz3SLQ/image.jpgSorry if I'm being harsh, but the concept makes no sense to me.
Creating a seed phrase on a smart card? Maybe. Using a smart card to store a seed phrase that had been securely created on a different hardware device and requires typing it into an app? That makes really no sense.
So I will launch a challenge! I will sell 10 CryptoPlatz Vault with the seed recovery phrase of 1 Bitcoin, encrypted with CryptoPlatz App.
The first man that decrypt the seed recovery phrase can take 1 Bitcoin for him.
You missed the point, though. I never said it was insecure storing data on a smartcard chip or easy to extract from it.
Instead, my concern is
typing out your seed into any software. Users should
never need to type their seed in any program except for restoring a lost wallet, and do so on an offline, airgapped PC that runs its OS in RAM, and is completely wiped by rebooting.
I understand your point.
How many crypto users have an offline pc just to work with the seed?
Remember the guy from UK that lost his hard drive with thousand of Bitcoins and is try to find it on the public trash of the city?
We need to create options to the users keep their Bitcoin safe, keep seed recovery phrase in small piece of paper, without encryptation is not a good option.
Trust wallet app has more than 10 millions of download, this people already have exposed his seed on smartphone, a lot of then don’t save seed on paper, for laziness to write on a paper.
We need help people to store their seed better.
Some people will prefer an offline computer, others will prefer ledger and trezor (both already hacked), others will prefer app wallets like BitPay, Trust Wallet, Exodus. So CryptoPlatz Vault is not for all users, it is for someone that want to looking for a easy way to store their seed recovery phrase encrypted and offline in a strong device to keep it safe.
