Post
Topic
Board Economics
Re: Isreal and Palestine war and losing your wallet phrase and password
by
Synchronice
on 19/10/2023, 09:33:05 UTC
Have you consider that you lose all your coins because the wallet phrase to your coins and PC burn in a war.
So what will you do if you survive after the war to start back your financial struggling and your crypto investment journey. Or can you get the coins back?
Overall, when you live in a war zone, you have to be prepared for this case the day you create your bitcoin wallet.
I would create 12 words seed phrase and start memorizing it, absolutely every day I would try to memorize it and repeat it, even after months, I would still do it. But at the same time, since no one knows when war starts, I would buy Cryptosteel Capsule and would keep it with me.

But if you are very unready, I would edit one of my old word documents and secretly put seed phrase, divided into four parts and would secretly store it in a way that only I would be able to collect it back and random person wouldn't have a doubt about bitcoin wallet. I won't say where and how I would save it because it will reveal too much about me and my methods. But this way of storing seeds is not recommended at all and I would only do it if I have no other choices.

There were numerous experiments with how people memorize things and excluding elements from memory is normal, so translating this to bitcoin seed phrases, if you happen to have a thing like:
cabbage grape jealous banana
your brain will try to associate the three words that are vegetables and fruits which would lead overtime with losing the 3rd word in the sequence.
I bet you have memorized some lyrics that you learnt at school and you still remember them exactly. Well, at least I believe. I would say that memorizing is not a bad method if person tries to memorize it every day and still repeats it even after being confident. By repeating the same words every day for months and more, you will remember it so well, you will be surprised. But I think all methods should be individual, I don't force anyone to follow this one cause I don't know their cognitive abilities but I just think it's not as bad as people say.