#Facts

#nostrversary View quoted note →

Who can explain me this? #asknostr @Jameson Lopp evaluates passphrase backups as "mediocre" and considers SeedXOR the superior alternative. He argues that passphrases are flawed due to their 2-2 setup, posing a risk of losing funds if one part is lost. Nevertheless, the same vulnerability exists for SeedXOR (2-2, 3-3, …). I don’t see any downside as long as the passphrase has a 256 bit entropy. Multiple backups are essential for both solutions. Lopp on Passphrase backup: „This gives you a security model that's the same as a 2 of 2 multisig setup. Do you know why 2 of 2 multisig isn't popular? Because it has 2 single points of failure - if you lose either part, you're screwed. I've seen quite a few people over the years get locked out of their funds because they forgot or lost the passphrase that accompanied their seed phrase.“ Lopp on SeedXOR backup: „Seed XOR is, in my opinion, a superior way to achieve the properties that folks try to get with a "25th word passphrase" or via naive seed splitting, while decreasing the complexity and improving plausible deniability. Note that this is essentially an N of N (2-of-2 / 3-of-3 / etc) split backup, so you're going to want multiple sets of XOR'd backups to ensure that losing a single plate doesn't cause catastrophic loss.“ Source:

Cypherpunk Cogitations

How to Back Up a Seed Phrase

There are a million ways to back up a seed phrase. Nearly all of them have flaws.

GM Merry xmas. I wish you a wonderful time with your loved one. 🎄

110th Birthday of The Creature From Jekyll Island. The end is near.

I feel honored. One of my best memes 🫡💜 View quoted note →

An institution of appointed people that tries to debase savings sometimes to spur credit and employment, and harden savings and purposely *lower* employment other times, should be questioned.

'No-coiners' do not exist, only 'pre-coiners'. Few.

GM

New Bitcoin commercial 😂

It is easy to be conspicuously 'compassionate' if others are being forced to pay the cost. Murray N. Rothbard

GM 🧡⚡️