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Only if you don't trust the encryption on your cold wallet backup where you generated the keys. Personally I'd keep both, encrypted drive and printed keys then
by dobbsbob 14y ago
Only if you don't trust the encryption on your cold wallet backup where you generated the keys. Personally I'd keep both, encrypted drive and printed keys then if say the bank is robbed or burns to the ground you can still transfer the coins.
You'd want to also make sure the printer isn't storing memory of those keys that were printed.
Some weird startup out of Europe is splitting up $2mil worth of coins on 3 USB encrypted sticks, using Shamir's secret sharing as the master key to decrypt (this according to Bitcoin magazine). Sounds like a bad idea I don't trust wear leveling drives that could fail taking all your coins with them
- Saavedro 14y agoYou can make Shamir's secret sharing redundant if you are worried about that. You could make say, 6 USB drives, any 3 which can recovery your wallet. As long as no more than -half- fail you would then be fine. And you can set either number as high or low as you like, of course. And it's not like wear leveling should come in to play if you aren't actually writing to them.
- aneth4 14y agoYou guys are making my point. You are speaking a language most people don't begin to want to understand.