Quote from: The Sceptical Chymist on Today at 09:12:12 PM

Quote from: Digifann1 on Today at 08:38:05 PM

Quote from: The Sceptical Chymist on Today at 06:50:10 PM

Mmm hmm, except that a seed phrase isn't a will; <snip>

A seed is very different than a will. I would also consider it something like a safe and the key to the safe in one. Grin

Well thanks, newbie. I appreciate you quoting my post and then stating exactly what I said in it. I do hope you improve with time.

You mentioned a lambo, I mention a safe. Is lambo the same as a safe or are you merely stating that my first sentence is the problem? Should I have written I agree instead, because that is what I meant?

Quote from: The Sceptical Chymist on Today at 09:12:12 PM

Quote from: Digifann1 on Today at 08:38:05 PM

I don't think memorizing 12 words is good practice, also you should not use the same wallet for a very long time. Both go against the idea behind Bitcoin and can cause some issues.

Memorizing 12 words is insane if you've got a lot of bitcoin. Anyone who uses their own brain to store their seed phrase in is severely overestimating their own memory and underestimating how easy it is to get run over by a truck, hit with a baseball bat, etc.

So many things can go wrong with that you are right, and there is little benefit to it. There are better ways to protect the seed phrase backup than keeping it in your head.

Quote from: The Sceptical Chymist on Today at 09:12:12 PM

But neither brain wallets nor using the same wallet for 'a very long time' go against the idea behind bitcoin as you say. Care to elaborate on that? Maybe I missed something Satoshi or the Bitcoin Core devs delivered from the mountain.

You should not reuse addresses for privacy and security reasons, but neither should you use the same wallet for a very long time. Imagine that a compromise of your wallet in 20 years from now provides mathematical evidence of everything you ever did in Bitcoin. Is this risk worth it? What do you get from keeping the same wallet in return, just some convenience? I'd recommend at least changing wallets every few years. Daily spending wallets should be changed even more frequently.