code monkey on nostr

What if someone finds the seed? Isn’t an encrypted backup better?

No, just use a passphrase. Trying to digitize a backup is asking for trouble. Just use a passphrase, if someone finds your seed, they can't do anything with it unless you compromise your passphrase at the same time.

Multi-sig is honestly overkill for almost all individuals imo. Only if you want multiple entities holding keys.

Doctor ₿ Manhattan · 38w

Using a passphrase is effectively a two of two multi-sig. Consider collaborative custody with a company like Unchained Capital where you only hold two Keys and Unchained holds the third. Keep your two keys in different location and save the multi-sig config file in your encrypted password manager.

Nick · 38w

100% agree. I’ve always wondered why so many people recommend a multi-sig set up when a seedphrase + passphrase is perfectly sufficient and incredibly safe for an individual. Multi-sig set ups are great for a company or institution, however.

orange ⚡️ · 38w

*A passphrase not contained in any rainbow tables. Long enough, but that you can remember. Consider that if someone finds a seed plate, they immediately know its importance and are incentivized to break it. An encrypted backup could contain your son’s photos.