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I have a ? I have quite a bit of bsv and was thinking of moving it all over to volt. It scares me to have responsibility for a sheet of paper with keys on it especially with large amounts of money They have a face and email type of key so there is no remembering or losing keys (I could be wrong) so it peaked my intrest. •Can we trust volt with our bitcoin? •Is volt safe and secure? •Would you put all your money in one wallet at volt since is tied to your face and email? •Is it better to scatter your bitcoin to different wallets? •What would be the best approach to keep you bitcoin safe with out having to have responsibility for keys? •Is Volt the only option? Thank you.
cctv1 tipped:
0.02 USD
1 year ago
orac tipped:
0.02 USD
1 year ago
@monbon@glauce and everyone I can help you: Be careful with your data, and especially with your used device. Turn on your computer, change the time in the BIOS, then create your seeds with it on this same computer while being offline (disconnecting the wifi physically is a plus), export the key in aka cold storage device or list in wallet paper or encode in zip, rar* then launch a system restore on this same your computer to go back to a previous day or week, then restart and access the BIOS and reset the correct time. (*changing the time of the bios can be very useful if you use 7zip to encode your seed file in a folder encrypted with a password e.g. *#911#Hello-Poto* (mnemonic) can be a good password. Be aware that "zip, rar...." files with high encoding are crackable depending on the time when the file was created, with my method you will voluntarily truncate the metadata with the clock without it being visible it's a true/false/positive). Another very powerful (home-made) variant of the wallet paper: you can encode your word list directly dispatched to specific places in the metadata and increment it into an image file or a photo on your digital photo card at home or even your public profile photo (less secure but accessible everywhere), (EXIF is an option) so your treasure remains accessible there before your eyes. If you want to add an extra level then nothing prevents you from using variants for example: the reverse of a text like this: Hello World > blɿoW ollǝH if you want to add more + I suggest the foreign language of your choice + reverse, here the example is translated in Samoan language + reverse > iϱɒlolɒl ɒʇolɒT or in Moari > oA ɒɿO ɒiꓘ = Hello World or even in Malayalam reversed > ്ഡൾേവ ാേലഹ = Hello World. Even a software decrypt next genN.SA fueling the AI worth billions of dollars still scratches its head, and yet. It's my personal method for home-made encryption/encoding if you want to add one more level nothing prevents you from encoding the result language + reverse in binary then in SHA256, 512.... these my unconventional methods (which I invented in 2008 like other things), I pass it on to you, as long as it's useful to you, to all of you, made in good use, it's patentable (I have no budget, for nothing by the way, lol). Made in good use!
monbon tipped:
glauce replied:
Thank you@bsvfan, that looks very thorough and well thought out... so far, I think I have managed to sort things out to my satisfaction, at least where safety is concerned... I have cold wallets in a dedicated drive on my Mac (not used for anything else) and hot wallets on a ThinkPad bought specifically for the job... physical lock + removable battery keeps it ice cold... there is nothing on it apart from ElectrumSV and it never goes online, I do all txs by signing offline and transferring between wallets, hot and cold, as needed... so far, so good, but I hope that as BSV grows, things will evolve into even simpler ways of being my own bank.
1. Volt makes storing bitcoin more secure by utilizing threshold signature, default personal wallet is a 2/3 scheme with key shares stored with user, Volt and a third party trustholder respectively. 2. Facial recognition + email combination is to ensure that only the original user can access/recover their accounts on new/different devices. email or facial scan is not equal to private key, nor does it generate private key. 3. Volt is not the only option, we can confidently say that Volt makes bitcoin wallet more secure as well as easier to use than ever, still we encouarge users to spread their assets in different wallets. 4. Volt has several users saving from thousands to tens of thousands BSV.
Volt’s main security is TSS, thus you are putting your trust in 2/3 signature system where 1/3 of your trust goes to Volt itself and another 1/3rd to another trusthold such as Maxthon. So if you trust the two trustholds then you can feel secure with no mnemonics. Johnpitts@moneybutton.com if you have more specific questions about Volt or wallet providers, or you can talk to Volt’s founder “Fuq” himself on Telegraph.
monbon tipped:
0.08 USD
1 year ago
monbon replied:
I'll wait until they become bigger with revenue. I want something like a bank that can keep it safe for me and also backs it up to a certain amount. I guess what I want is a system where it ties your keys with: Ssn • fingerprints • face scan • Government ID • Phone • email • birth certificate And have the system decrypt the keys only if everything above gets verified. I'm I asking for too much?
john replied:
Well, soon it will be part of the rules: If you have > $500 at a wallet (Money Button, HandCash, RelayX, Volt, etc....) they will need to collect all this info anyway to meet government KYC/AML law. It sounds like you want to give custodianship to a trusted 3rd party, such as a bank. I think this will be what most people choose to do, for sure. We aren't quite there yet, but for instance you could keep your BSV at Bittrex and they already do all this. They take your Passport, a copy of a bank statement, and hold custody of your BSV. Now, whether you trust Bittrex to not be criminals, or to not go bankrupt (which is called "counterparts risk"), that's something YOU have to decide. If you don't trust Bittrex, but you trust USAA bank, then you'll have to wait a long time before you begin seriously using the "metanet" and BSV. This all occurred historically with the advent of the internet. Some trusted new-fangled companies like Amazon or Yahoo, and some didn't. Some trusted fly-by-night orgs with their credit card info or worse. It depends on you and the outcomes. You get to decide how "safe" you want to be, and the outcomes happen anyway. In short, there's no EASY answer. For you? I'd recommend Bittrex, but I'd tell you to make sure you know how to do a withdrawal to a wallet you trust in a jiffy. It's going to be a good skill to have, in the coming future, to know how to move your money around quickly. So if you get the feeling Bittrex is in trouble (like Robinhood basically was bankrupt in March and borrowed from the Fed window to stay afloat), you can just move your money out to Money Button, or vice versa. The key is to stay vigilant and informed, and act quickly the first moment you sense fear.
monbon tipped:
0.76 USD
1 year ago
monbon replied:
Well deserved tip
By coincidence, I was going to add a question that I hope will help with choosing wallets... will do now
glauce replied:
glauce replied:
This is the question: "What is your ultimate solution for storing your Bitcoins securely, conveniently and without waffle... £1 for superbly helpful answers"
It's a very impressive wallet. It use Trusthold + Threshold Signatures tech. I think we can move some money on it for daily use. But I'll not put all my balance on it. Because what would happen is their servers are down? I don't know. So we should use offline wallet to store money for years.
monbon tipped:
0.04 USD
1 year ago
The safest place to store large amounts of BSV is OFFLINE.
monbon tipped:
0.04 USD
1 year ago
monbon replied:
Would centbee be considered offline?
thecloudgallery replied:
Take a spare phone put a wallet on it (centbee, handcash, whatever) dump all but the essentials off the phone, send your BSV to that wallet, then turn off the wifi then turn off the phone (cheap "cold" storage). When you want to top up your moneybutton or wallet on your primary phone, turn it back on - send it to yourself then turn it all back off again.
esryix tipped:
0.07 USD
1 year ago
glauce replied:
I couldn't install Volt on my computer or phone and have concerns...I put this to the developer and he acknowledged the message... hope to know more soon... you can see all details here: https://powping.com/posts/9b2dfc27d1223f71504ec09dad57321238a9449e5ef7779b036bade0768376c4/comments/997733da0
glauce replied:
It is the last message (as of today) in the thread
glauce replied:
I mean, last message in the thread I linked above
glauce replied:
Nice solution from thecloudgallery... I agree in full, offline is a safer option for large amounts. +1 for cold wallets, I would also add Simply Cash to the list, as it is extremely versatile, being one of the few apps that can retrieve BSV from paper wallets ( My previous answer seems to be misplace, apologies for that... for clarification, it was intended as a direct reply to the monbon's question)
elas_digital replied:
You can use Safewords from www.coinstorage.guru to store your word list much more safely... disclaimer: my company
glauce replied:
That is nice to know, if is your company, I feel very safe... thank for the link!