If you had your seed engraved on a metal plate that is fire resistant, wouldn’t firefighters be the ones to find it first? Idk how this works, I’m just wondering what will happen to the owners of Bitcoin living in LA right now. Seems like multisig is the best option in this type of disaster.
#asknostr
Always multisig. Always.
Interesting point. First responders or looters finding metal plated seed phrases. 🧐🤔
The LA residents weren’t allowed to go back to their homes. Imagine the stress of waiting for your home to burn down and then trying to get there before the looters.
Agreed. 👍
Check ur security based on these things. Paraphrases, multisig, cold storage signing devices etc etc.
But Don’t BLOW URSELF UP. Do what is comfortable is my recommended approach & then get more comfortable with harder things.
I guess it all depends on where it's at? I would get there first though. Looters like to rip out all copper wiring from houses that burned down. Looters will find it while looking for other stuff.
That’s risky and unnecessary if you have a multisig setup.
Don’t make it complicated…the problem here is if the metal plate is the only record of your private key then no matter how many signatures you have you’ve lost access to your #bitcoin
Always have physical, difficult to destroy backups in different locations. Pass phrase or have your own method for accessing the information.
Signatures? You only need 2 of 3 keys to access your money. So if you lost one in a fire or if a looter steals it, you can still get your bitcoin with the other two keys.
Agreed—I am thinking of single sig with backups. A multi-signature setup with geographical distribution is an extra layer of security, as would be single signature with geographical distribution and a pass phrase.
There are many ways to skin the #cat
Yeah the passphrase can work but then you need additional backups for the passphrase lol it can get complex
