Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
No-one ever swapped the firmware on my paper wallet.
Attack surfaces:1. Flood (that one we had and more than once)
2. Nosy gf/wife that likes to "tidy" things up...can't happen
3. Fire
4. Something falling on the house, like a tree (impossible, right?), causing rain to wash away or soak the paper.
6. Forgetting where you put it..or if BIP 38, forgetting the password.
That said, I might have agreed a bit more if you delineated how you are circumventing the above...yes, it is doable, but require some trust in those who would hold potential copies, maybe.
A "paper" wallet isn't necessarily paper nor a wallet in the sense of funds going in and out of it on an ongoing basis. It is just an address.
It is simply two alphanumeric strings, one public key and one private key. The only security consideration is how these addresses are created and stored.
Strings can be split into sections and stored in different locations or media. They can additionally be encrypted or passworded/phrased.. They should only be created offline on a computer which cannot be connected to the internet. Protecting those private keys is paramount. Private keys should only be used once and then new addresses created.
So simple, so secure.
Hi Jimbo, I have always used paper wallets, created offline, laminated and intended for single use. I make 2 copies which are each stored in 2 separate fireproof safes placed in two locations not in my home. When I want to access them, I can. If one location is destroyed, I can still access the funds. If I die, trusted members of my family have key access to the safes to recover funds. Simple and secure enough for me.