Haths on Nostr: LOOKING FOR FEEDBACK: Please punch holes in this #bitcoin custody architecture: 1. ...
LOOKING FOR FEEDBACK:
Please punch holes in this #bitcoin custody architecture:
1. Make a fresh, proper 24 word seed phrase. Use dice. (ColdCard MK4)
2. Seed XOR (https://seedxor.com) into 2 parts. (Done on ColdCard)
3. Backup XOR {Seed 1} - 2 Copies
4. Backup XOR {Seed 2} - 3 Copies
5. Distribution Example:
1. Home - {Seed 1}
2. Business Safe (or other personal safe at different location) - {Seed 1}
3. Safe Deposit Box (Bank A) - {Seed 2}
4. Safe Deposit Box (Bank B) - {Seed 2}
5. Family Member Safe (>500 Miles Away) - {Seed 2}
6. Use the base seed phrase as a dummy wallet.
7. Cold storage on passphrase
8. BIP85 derived seeds for anything else.
1. Hot Wallets
2. Hardware Wallets
3. Multisigs
4. Etc
I’m envisioning the master seed as the nucleus of everything you do in Bitcoin.
Help me make this better. I’m trying to reduce complexity as much as possible while hardening the security of the master seed from which everything will be derived.
Please punch holes in this #bitcoin custody architecture:
1. Make a fresh, proper 24 word seed phrase. Use dice. (ColdCard MK4)
2. Seed XOR (https://seedxor.com) into 2 parts. (Done on ColdCard)
3. Backup XOR {Seed 1} - 2 Copies
4. Backup XOR {Seed 2} - 3 Copies
5. Distribution Example:
1. Home - {Seed 1}
2. Business Safe (or other personal safe at different location) - {Seed 1}
3. Safe Deposit Box (Bank A) - {Seed 2}
4. Safe Deposit Box (Bank B) - {Seed 2}
5. Family Member Safe (>500 Miles Away) - {Seed 2}
6. Use the base seed phrase as a dummy wallet.
7. Cold storage on passphrase
8. BIP85 derived seeds for anything else.
1. Hot Wallets
2. Hardware Wallets
3. Multisigs
4. Etc
I’m envisioning the master seed as the nucleus of everything you do in Bitcoin.
Help me make this better. I’m trying to reduce complexity as much as possible while hardening the security of the master seed from which everything will be derived.