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If you know what an Automatic Centre Punch tool is, there's a good chance you're a #Bitcoin'er. 😎
How long would it take to brute-force a 12-word #Bitcoin seed phrase? A 12-word seed phrase is based on a list of 2,048 words defined by the BIP39 standard. Each word = 11 bits 12 words = 132 bits (128 bits entropy + 4-bit checksum) 2¹²⁸ ≈ 3.4×10³⁸ possible combinations...
When the internet standards track protocol (HTTP/1.1) was first published in 1997, a return code (402) was created to indicate that a payment is required. No protocol was created for it, and it still sits as "reserved for future use". #Bitcoin fixes this! 👍
Totally agree @SimonDixonTwitt Having self-custody of your #Bitcoin private keys makes you the highest hanging fruit, in the most awkward part of the tree. Bitcoin ETFs, Bitcoin on exchanges, and even Bitcoin in custodial wallets, are collectively the low hanging fruit. 🍒🍏
No. My argument is that centralised custody and large honeypots connected to crime are ceasable. Clean Bitcoin on self custody is much harder to seize than a Bitcoin/Gold ETF if they are doing what they did in 30s. Plus gold is within the fabric of the central banking…
So, you've protected your #Bitcoin seed words with 2nd-factor security. eg. passphrase, multisig, etc... ...but you still want to know if anyone has sneaked a peek at them? This is why we provide tamper-proof labels with every BitPLATES Domino plate.
If the price of #gold, #silver & #Bitcoin is set by the "market" on exchanges... Is Bitcoin the only asset with a realistic chance of finding a true market value with peer-to-peer (P2P) exchanging? P2P can be as much as 20% above "spot" price. 🤔 #PeertoPeer #P2P #NoKYC
If you split 24 seed words in two, each half is protected by 128-bit security. Plate 1 = words 1-12 Plate 2 = words 13-24 Store plates (& copies) in different locations. This is by far the most 'non-technical' #Bitcoin multi-factor security, or 2FA (two-factor authentication).
A seed phrase made up of 12x BIP39 seed words has 132 bits of entropy (randomness). Calculated using the following formula: bits of entropy = log2(no_of_combinations) = log2(2048^12) = 132 bits NB. Initial entropy length = 128 bits Checksum = 4 bits Total = 132 bits
Every single day another stack of self-sovereign Domino starter packs are made ready for dispatch. 💪 #Bitcoin #backup #seedwords
If you're adding a passphrase to your #Bitcoin seed words, you could create it using 6+ words from the BIP39 word list. These can then be backed up onto a separate metal plate (not just written on paper, or kept in your head).
Q. How do you prevent THEFT of your #Bitcoin if your seed words are discovered? A. Use a 2nd layer of security (passphrase or multi-device multisig). Q. How do you prevent LOSS of your Bitcoin #seedwords, passphrase, & multisig? A. Keep multiple copies in different locations.
How can Domino plates help to preserve #Bitcoin seed words? 1. Made from 316L (marine-grade) stainless steel, not just standard 304. 2. Thicker 3mm metal, not just standard 2mm. 3. Deeper etched alphabet & grid guides to ensure no loss of data, not just standard laser marking.
Preserving your #Bitcoin seed words on metal doesn't get any easier than this... BitPLATES Domino plate ✅ Sharpie permanent marker ✅ Spring-loaded centre punch tool ✅
Q: What's wrong with this method of #Bitcoin seed storage? 🤔 A: Multiple small parts can become separated and lost forever. 😱 Store your seed phrase / passphrase on a solid plate of marine-grade stainless steel. 💪
When choosing a passphrase for your #Bitcoin seed words, ask yourself the following questions: Is it too weak? (ie. too few characters) Is it too simple? (ie. a popular phrase or song) Is it too obvious? (ie. tattoo displayed on social media) bitplates.com/how-secure-is-…
Bitcoin is the only asset that comes with built-in 'plausible deniability'. 1. Keep a small amount of sacrificial #Bitcoin in a wallet created with ONLY seed words. 2. Keep your main funds secure in a secret wallet created with seed words + passphrase (must store separately).
Time to get your ticket 🎟️ Next week will see Scotland's Bitcoin Conference host a full day of bitcoin talks, workshops and stalls from industry leaders and thinkers Don't get FOMO get a ticket: Glasgowbitcoin.co.uk
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