Friday 26 February 2016

How This Old Timer Secures His Bitcoin


THE SNAXION METHOD:I have my BTC split across 20 different wallets I created using the BIP-38 encrypted wallets using bitaddress.org which I downloaded from github on an offline machine. Then I just record the private keys in a list and put them all over (in dropbox, on flash drives, etc...) Without the password, nobody knows even the public address.Here is the neat part (at least to me). For the password, I came up with a long string of words, some gibberish, as the password for these keys for example:GoodKnackerzCrustiiBut2TastyThen I have a password hint I keep with the private keys as such:G----dK-----zC----iB---t2T----yI just have to fill in the blanks. The brain seems to do this with ease. Memory can fade so here is another cool thing I do:I set up a weekly reminder to fill in the blanks to refresh the memory neurons. Every week I am filling in the blanks in my head so I don't forget.I also have measures in place in case I croak, but I thought this scheme might be useful to some noobs out there. This system has worked for me for many years. Sometimes I decrypt a key (on an offline machine) just to make sure things are OK too.Also, if anyone sees some holes in my system, please advise...Hope this helps! via /r/Bitcoin http://bit.ly/1QCMrNI

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