3 ms·
That's a drastic exaggeration of the effort required. The backup is to write down 24 words. For more redundancy, write them down again on another piece of paper
by DennisP 4y ago
That's a drastic exaggeration of the effort required. The backup is to write down 24 words. For more redundancy, write them down again on another piece of paper. Put them somewhere safe enough considering the amount you have stored, and you're good. I know people with crypto who are not especially technical, but have no trouble with this.
(Or, follow Vitalik's recommendation to use social recovery wallets, which are available for phones and I think have decent UI.)
- caseyohara 4y agoI think ckolkey was referencing this now-HN-famous dismissal of Dropbox when it was first announced in 2007 (top comment) https://news.ycombinator.com/item?id=8863 https://news.ycombinator.com/item?id=8863
- DennisP 4y agoI admit I missed that. But backing up your self-hosted wallet is way less technical than rolling your own Dropbox, so I don't think it changes my argument.
- cecilpl2 4y agoI have family members that have done the following: * Email me photos because they don't know how to add them to a shared google photo album. * Aren't on Facebook because they can't figure out how. * Forget their email password so just made a new email account. * Make a different decision on iOS vs Android every time they get a new phone. A very large segment of the population behaves in this way. How will self-hosted hardware wallets work for these people? What do you say when Grandpa calls you (because he doesn't text or email) and asks who to call to recover the money he was defrauded of?
- jboy55 4y agoI have family members who paid for computer service because Microsoft was so nice to call them after detecting an issue with their computer. But lets get them all cold wallets to hold their money.
- DennisP 4y agoAnd those people should use social recovery wallets, as I've mentioned several times above. As for Grandpa, I hope he doesn't have a checkbook.