SwBratcher on Nostr: A friend that’s mostly non-tech but started buying BTC a couple years ago as his ...
A friend that’s mostly non-tech but started buying BTC a couple years ago as his main savings is having a touch of drama for the past day.
I got him a Foundation Passport for Christmas. He set it up. Logged his recovery words. Secured them. Created his passphrase and noted his resulting fingerprint. Then he loaded his main bag to the wallet with passphrase active. Successfully off exchanges.
All of this was done with one process flow, in an hour or so, performed last January and he hasn’t had to touch it since.
Come 9 months later he he wants to transfer more of his exchange where he buys. He has his recovery words, and passphrase fingerprint for reference, but can’t remember his passphrase or where he made note of it.
Time is an enemy. Memory is the weak link. In your youth you won’t understand how time will eat recollection of things and how easily a failed memory can muck up your clever system. When you spend time out of it, because you don’t need to transact with your cold storage often, your breadcrumb trail may not be there when you return.
What’s your system? Is your memory a weak link — at all?
This will lock up a large percentage of BTC in the future if we don’t make it mainstream to know how to secure your holdings even if you die or the a hit to the head. Many say your Bitcoin can’t be stolen, but how much Bitcoin will be lost in the next statist war, or civil war, or as a population passes peacefully across 50 years and thousands of personal secret systems are lost to failed minds.
Make your Bitcoin YOUproof. Establish security that survives you getting hit by a truck or slipping mentally.
I got him a Foundation Passport for Christmas. He set it up. Logged his recovery words. Secured them. Created his passphrase and noted his resulting fingerprint. Then he loaded his main bag to the wallet with passphrase active. Successfully off exchanges.
All of this was done with one process flow, in an hour or so, performed last January and he hasn’t had to touch it since.
Come 9 months later he he wants to transfer more of his exchange where he buys. He has his recovery words, and passphrase fingerprint for reference, but can’t remember his passphrase or where he made note of it.
Time is an enemy. Memory is the weak link. In your youth you won’t understand how time will eat recollection of things and how easily a failed memory can muck up your clever system. When you spend time out of it, because you don’t need to transact with your cold storage often, your breadcrumb trail may not be there when you return.
What’s your system? Is your memory a weak link — at all?
This will lock up a large percentage of BTC in the future if we don’t make it mainstream to know how to secure your holdings even if you die or the a hit to the head. Many say your Bitcoin can’t be stolen, but how much Bitcoin will be lost in the next statist war, or civil war, or as a population passes peacefully across 50 years and thousands of personal secret systems are lost to failed minds.
Make your Bitcoin YOUproof. Establish security that survives you getting hit by a truck or slipping mentally.