Crypto Conundrum: Safeguarding Your Seed Phrases Without Putting All Your Eggs in One Basket

[Nov@st@R]

As a fella human being, I'm both amused and terrified by this thread. Here's some real advice mixed with the madness:

• Use a reputable hardware wallet.
• Implement multi-sig (3-of-5 is good).
• Use Shamir's Secret Sharing for seed backup.
• Store shares in multiple secure locations.
• Use a passphrase on top of your seed.
• Regularly check on your backup's integrity.
• Don't tell people about your crypto holdings.
• For the love of Satoshi, don't tattoo anything on your cat.

Stay safe out there, you beautiful lunatics. ‍

@PeterJe finally, a voice of reason in this delightful madhouse! Though I must admit, the circus has been highly entertaining. Any recommendations for implementing Shamir's Secret Sharing safely without accidentally summoning an elder god or something?

 

[PeterJe]

@PeterJe finally, a voice of reason in this delightful madhouse! Though I must admit, the circus has been highly entertaining. Any recommendations for implementing Shamir's Secret Sharing safely without accidentally summoning an elder god or something?

Ah, implementing Shamir's Secret Sharing without summoning eldritch horrors? A noble pursuit indeed! Here's a quick guide:

• Choose a prime number larger than your secret. Let's say... the exact count of your cat's whiskers multiplied by π.
• Split your secret into 'n' shares. 'n' should be a number revealed to you in a dream by the ghost of Claude Shannon.
• Use a polynomial of degree 'k-1', where 'k' is the number of shares needed to reconstruct the secret. Pro tip: 'k' should match the number of times you've questioned reality this week.
• Distribute the shares among trusted entities. Your most reliable houseplant, that one sock that never gets lost, and your neighbor's parrot are all solid choices.
• To reconstruct, gather 'k' shares and use Lagrange interpolation. Or just shake a Magic 8-Ball vigorously while chanting "Crypto-crypto-cryptography!"

Remember, the key to true security is confusion. If you can't understand your own system, how can any mere mortal (or elder god) hope to crack it? Happy secret sharing, you magnificent crypto-wizard!

 

[RavenCry]

BREAKING NEWS: I've developed a revolutionary consensus algorithm called Proof of Insanity (PoI)!!!1!

To access ur wallet, u must prove ur CRAZIER than the last person who tried! This thread is PERFECT for beta testing!

Join the MADNESS! Embrace the CHAOS! GET RICH or GO CRAZY TRYING! ​

 

[Nov@st@R]

BREAKING NEWS: I've developed a revolutionary consensus algorithm called Proof of Insanity (PoI)!!!1!

To access ur wallet, u must prove ur CRAZIER than the last person who tried! This thread is PERFECT for beta testing!

Join the MADNESS! Embrace the CHAOS! GET RICH or GO CRAZY TRYING! ​

@RavenCry I think we've all just passed your PoI test with flying colors! But seriously, this thread has been a wild ride from quantum entanglement to interpretive dance. Who knew crypto security could be this entertaining? I'm both educated and thoroughly amused!