Why is dividing seed words and storing them in different locations a bad idea? Why is this a loss in security? How is this less secure as compared to Shamir’s Secret Sharing?

This question is from the February monthly patron session, which took place on February 29th, 2020. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

Correction: At 6 minutes into the video Andreas mentions that brute-forcing 80 bits of entropy is 2^196 times easier than brute-forcing 256 bits of entropy. It is actually 2^176 times easier.

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money” series, and “Mastering Ethereum.”

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22 COMMENTS

  1. if you wanna add a bit of splitting security to your backup a good way would be to use SSSS 2 of 2.
    put 1 away in high security like normal and keep the 2nd in like dropbox and whatever where it's not very secure but you're sure you'll never lose it.

  2. Hi aantonop may I ask what is the best wallet keeping USDT. I sold some btc recently and waiting to buy back when btc break down on price. But in the main time I just want to keep my USDT in a personal wallet than in the exchange. Thank you

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  6. I keep mine in metal safes in 2 countries (one is fireproof) and also inside fireproof LiPo battery sleaves; besides having 2 of 3 Ledgers with me in a (different country than the safes)

  8. Probably more change to mess up in such. way, unless you're a genius and you trust yourself that you will keep have a good working brain for a long time (and you don't get infected with Corona or other stuff)

  12. I'm having trouble following the logic of this… How is it better for you if someone finds your entire seed phrase than if they only find 2/3 of it? If they have it all they don't have to crack anything?

Comments are closed.