Altcoins Talks - Cryptocurrency Forum
Further Discussions => General Discussion => Topic started by: Yamane_Keto on March 08, 2024, 02:09:41 AM
-
We are living in a world that is changing rapidly, where the possibility of natural disasters such as earthquakes, hurricanes, tsunamis, fires, or human-made disasters such as arson and wars increases. What is the ideal formula for protecting your bitcoin if you believe in the principle of “not your keys, not your money” and therefore you retain access to the private key?
what is the ideal formula for this and is Metal Seed Storage sufficient in such cases?
What is the best type in this situation?
(https://blog.lopp.net/content/images/2019/12/DSC01715.JPG)
-
We are living in a world that is changing rapidly, where the possibility of natural disasters such as earthquakes, hurricanes, tsunamis, fires, or human-made disasters such as arson and wars increases. What is the ideal formula for protecting your bitcoin if you believe in the principle of “not your keys, not your money” and therefore you retain access to the private key?
what is the ideal formula for this and is Metal Seed Storage sufficient in such cases?
What is the best type in this situation?
(https://blog.lopp.net/content/images/2019/12/DSC01715.JPG)
Remember that no single answer will be perfect for every circumstance. For example, if you're concerned about a fire or flood, Metal Seed Storage may be a suitable choice because it's both fire and water resistant. However, if you're concerned about someone stealing your seed phrase, a multi-signature wallet may be a better choice because it requires multiple keys to access funds. So, before choosing on a solution, you ought to examine your individual situation and your tolerance for risk. You might also use a "chilly preservation" alternative, such as cardboard purses. These are some solutions that could help to safeguard Bitcoin.
-
what is the ideal formula for this and is Metal Seed Storage sufficient in such cases?
What is the best type in this situation?
I don't like metal storage example you posted, it is easy for it to get destroyed based on Jameson Lopp testing.
You don't have to order some expensive metal plates and wait for them to arrive from other countries.
Easy and simple solution is to go in local hardware store and buy stainless steel washers with few compatible screws.
This is all very cheap and most people have hammer for entering letters on washers.
-
dkbit98 is correct, stainless steel ll is cheaper and easily accessible that metal steel. However, I will say that because of this natural disaster, it is better to have your seed phrase back up in three different location very far from each other. Maybe in three different states, but let it be with someone you trust very well. I don't think that natural disaster can occur in different far places at the same time, and from there you can retrieve your seed phrase from the other locations.
-
Easy and simple solution is to go in local hardware store and buy stainless steel washers with few compatible screws.
This is all very cheap and most people have hammer for entering letters on washers.
Buying stainless steel washers and screws is easy, but printing letters on them may be the hardest part. I don't think you can do that in any local store.
The only solution is to engrave a table on stainless steel
(https://talkimg.com/images/2024/03/17/Jtitv.png)
-
Easy and simple solution is to go in local hardware store and buy stainless steel washers with few compatible screws.
This is all very cheap and most people have hammer for entering letters on washers.
Buying stainless steel washers and screws is easy, but printing letters on them may be the hardest part. I don't think you can do that in any local store.
The only solution is to engrave a table on stainless steel
(https://talkimg.com/images/2024/03/17/Jtitv.png)
And it also depend on the metal material that you going to get, at least 2 inches might to do, could be commercial copper, or simple aluminum. So we have to take that also in consideration.
But then again, it's natural disaster, imagine let's say our house crumbles to the ground because of earthquake, can the metal seed survived that force? tons of mass pinning on that 2 inch think metal. Hard to see if it can withstand it or not.
So the best thing is to really have a lot of backups spread across, digital, or metal to ensure that we will recover our hard earn crypto.
-
And it also depend on the metal material that you going to get, at least 2 inches might to do, could be commercial copper, or simple aluminum. So we have to take that also in consideration.
But then again, it's natural disaster, imagine let's say our house crumbles to the ground because of earthquake, can the metal seed survived that force? tons of mass pinning on that 2 inch think metal. Hard to see if it can withstand it or not.
So the best thing is to really have a lot of backups spread across, digital, or metal to ensure that we will recover our hard earn crypto.
Aluminum and copper are not good choices. Aluminum has a high susceptibility to corrosion, poor response to fire and deformation, and loss of data when exposed to chemicals.
Stainless steel is cheaper and more durable.
Digital backup is the worst type of backup and if there are many types of backup that you will use, this means an additional chance of losing your wallet seed.
-
And it also depend on the metal material that you going to get, at least 2 inches might to do, could be commercial copper, or simple aluminum. So we have to take that also in consideration.
But then again, it's natural disaster, imagine let's say our house crumbles to the ground because of earthquake, can the metal seed survived that force? tons of mass pinning on that 2 inch think metal. Hard to see if it can withstand it or not.
So the best thing is to really have a lot of backups spread across, digital, or metal to ensure that we will recover our hard earn crypto.
Aluminum and copper are not good choices. Aluminum has a high susceptibility to corrosion, poor response to fire and deformation, and loss of data when exposed to chemicals.
Stainless steel is cheaper and more durable.
Digital backup is the worst type of backup and if there are many types of backup that you will use, this means an additional chance of losing your wallet seed.
And that's what I'm trying to say, metal seed storage might have some advantage but still not a "foolproof". Every kind of backup has it's failures and loopholes.
That's why is advisable to really practice backing up in any way or form, redundancy is the answer. Make duplicates backup to improve our chance of not losing our seeds or mnemonic phrase.
You can pick a bank have a safety deposit box in there. Or bury it within your property and just remember where it is. Just think out of the box as there are many methods that can help us in a event of natural disasters.
-
dkbit98 is correct, stainless steel ll is cheaper and easily accessible that metal steel.
What are you talking about dude?! ::)
Stainless seed is a metal and it is not cheaper than regular steel.
I was saying that ss washer are better than plates with many moving parts.
Buying stainless steel washers and screws is easy, but printing letters on them may be the hardest part. I don't think you can do that in any local store.
The only solution is to engrave a table on stainless steel
It is not hard at all if you have functional hands.
Everyone has a hammer tool at home, and it's not that hard to locally buy letters for stamping on metal washers.
-
dkbit98 is correct, stainless steel ll is cheaper and easily accessible that metal steel. However, I will say that because of this natural disaster, it is better to have your seed phrase back up in three different location very far from each other. Maybe in three different states, but let it be with someone you trust very well. I don't think that natural disaster can occur in different far places at the same time, and from there you can retrieve your seed phrase from the other locations.
In support of the idea of having your seed phrase kept in different places because that way even if the stainless steel is misplaced or forgotten where kept, someone can have someone they run into for their seed phrase.
When it comes to natural disasters the OP mention of, nothing is actually safe. Many people do lost their belongings in a way they couldn't find them again because of the natural disasters that has happened