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Main Channel t.me/blockchain_lobsters
I think you have to balance the risk of losing the key forever, the risk of a custodian rugging you and the weakest link in the backup key recovery solution. Mobile devices, especially iOS environments are much more locked down than a browser extension. I have lost more wallets forever than I can count. People overestimate their ability to remember where they even put things.
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https://x.com/mellowprotocol/status/1869764266578047253?=46
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I would treat it like any hot wallet at that point whether a browser extension or even exchange account.
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Quite a writeup. A smart guy I hear, but I'm biased 😄
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You’re saying one should never store encrypted backups of a private key on a remote server because of… quantum computers?
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He did mention that it’s encrypted. Control over the server shouldn’t matter :-)
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It’s also opt-in on iPhone, the app doesn’t force you to do it. My point is that there’s a nuance in the hot/cold wallet conversation which I think is important to highlight to someone asking. “encrypted cloud backup of PK = bad” is an oversimplification IMO.
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Don’t a ton of wallets effectively do that when they back up your keys to iCloud? I think there’s a balance to strike between good backup UX and attack surface. Obviously don’t store your entire net worth like this.
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It good now that contents can be verified without bridging data privacy on cheqd.io
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"qubit", a bip(bitcoin improvement proposal) to make bitcoin quantum-resistant has been just assigned bip-360!
https://x.com/web3_lord/status/1869541152724320593
Nice read: https://x.com/steakhousefi/status/1869506052242407645?s=46
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"Make ur own blackrock at home"
ps: make TGE already please too
lol, worked for the first time in two days for me too now
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(will delete) does anyone know how to access, i bought back the nft and connected / verified but collab land still doesnt send link
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https://x.com/0xmikko_eth/status/1869735292770402336
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https://kitchen.steakhouse.financial/p/money-view-of-the-polygon-bridge
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I’ll stop flooding the group because this isn’t really going anywhere, but my TLDR is: threat modeling matters
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And then they will somehow decipher it? quantum conputers is running now,
Or there will be enough information that there is a key to come to you
Why is it bad - because you cannot control it environment. If you go to your remote server, which you fully control, then of course you can.
But the 12-point phrase seems simple enough to get so worked up about
I didn't know, I didn't hold the iphone in my hands.
On Android you can track this and prohibit it from happening.
Store backups only on cold wallets, and if there are none, separately on your flash drive
Make sure you have a backup written somewhere.
There are actually many ways of found it, for example: Portable Secret, html-vault, YouTube-drive.