BitPLATES - Bitcoin Backup's avatar
BitPLATES - Bitcoin Backup
bitplates@nostrplebs.com
npub1daz0...zh3w
Creators of Domino plates - metal backups for preserving your Bitcoin seed words/passphrase. Received AAA-rating on Jameson Lopp's stress tests.
I'm trying to link a Lightning address to my Nostr client, but it doesn't seem to work. Could someone please send me a couple of test sats. 🙏
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). image
When considering the different types of Bitcoin backup devices, it is best to choose a single solid piece of 316L (marine-grade) stainless steel. "Simpler is better - more pieces means more potential points of failure.“ - Jameson Lopp bitplates.com image
If you do nothing else today, dedicate some time to learn about Bitcoin self-custody. Don't put it off until next week, or the week after, or the week after...
Your Bitcoin isn't backed up until you’ve checked that your backup works... 1) Create a wallet 2) Send small amount of 'test' sats 3) Delete the wallet 4) Restore it with backup words 5) View sats if backed up correctly 6) Lose sats if not 7) Repeat with more care if necessary
I admit that this is an extreme example, but for the sake of $100, you could store your Bitcoin backup seed words onto something specially designed to be corrosion-resistant. This is why Domino plates are made from 316L (marine-grade) stainless steel. But why not titanium? Titanium has a similar strength to stainless steel, at almost half the weight (an advantage for aircraft); however, titanium is more brittle. Furthermore, a UC Berkeley study found that titanium becomes even more brittle with just a few extra atoms of oxygen... “[it] is like poison to titanium" ...not a good quality for long-lasting, robust storage plates: 316L stainless steel performs better than titanium at extreme changes in temperature (ie. cold water sprayed onto a house fire), and is also why Elon Musk chose stainless steel for the SpaceX rockets:
Why split Bitcoin backup 24 seed words into two parts (words 1-12 + 13-24), & store in separate locations? This eliminates the risk of catastrophic loss that could occur if all 24 words are kept together. 24 seed words = 256-bit security 12 seed words = 128-bit security or... Using seed words + passphrase, offers superior two-factor security than just splitting seed words. The advantage is that each separated part can also open valid Bitcoin wallets (with a few sacrificial sats), hiding the very existence of hidden wallets.
If you create/manage a Bitcoin wallet with a hardware signing device, you should be aware that each device manufacturer might use different derivation paths, or redeem scripts. This is a great reference if wallet recovery is done on a different device: walletsrecovery.org image
If a computer was powerful enough to brute-force open a Bitcoin wallet with 12 seed words in just 1 second (trying 2,048¹² combinations)... Then that same computer would take over 5 trillion trillion trillion years to brute-force 24 seed words (trying 2,048²⁴ combinations). image
If a supercomputer was able to brute-force attack 12 seed words in just 1 second, then that same supercomputer would take 5,000,000,000,000,000,000,000,000,000,000,000,000,000 years to brute-force attack 24 seed words. #Bitcoin image
When backing up Bitcoin seed words or passphrases for your wallet/signing device: 1. Do NOT take photos of the words on your phone or PC 2. Do NOT type the words onto a standard PC keyboard 3. Do NOT say the words out loud near any electronic devices 4. DO have metal backups
Bitcoin won't upend the world's financial system... But it will be there for us when the system upends itself. image
If your nsec (Nostr private key) is ever compromised, someone else could pose as you. Does anyone know how to fix this? Can the account be bricked, or access regained somehow?
Eventually Bitcoin will be: $0.00, £0.00, €0.00, ¥0.00... ie. No-one will want to sell their Bitcoin for any amount of fiat.
Im testing the maximum limit for zapping... Could someone send me 100,000,000 sats to see if that works? 😜