1408 sats \ 3 replies \ @tmoney 1 Jun 2023 \ parent \ on: Too Embarassed To Ask - Your Bitcoin & Lightning Questions Answered bitcoin
threat model would for regular pleb who saves in bitcoin (maybe a years worth of savings? small enough that they don't do multisig). I think the biggest threats are natural disaster and theft from someone that knows they have bitcoin.
In your example of having a hidden seed, why not just have your hardware wallet with it? I don't envision people needing to sign with a hardware wallet so much that they would want it physically on them.
Yeah, I think for a regular pleb your threat model makes sense. I would also add "loss" however. Sometimes, you yourself are the weakest part in the chain.
In your example of having a hidden seed, why not just have your hardware wallet with it?
Because I see no need to hide my hardware wallet. Hiding it at the same place with my hidden seed would even make it worse: Every time I access my cache, there is a risk that someone might find out where it is.
I don't envision people needing to sign with a hardware wallet so much that they would want it physically on them.
That's true. Since Lightning, I don't use onchain that often anymore. But keeping it physically on me is a protection against accidental loss. That wouldn't mean my funds are gone but it would still mean I lost something which did cost me around $80. So I basically keep my HWW where I keep other things I don't want to lose: on my key chain.
reply
Every time I access my cache, there is a risk that someone might find out where it is
I hadn't thought of that before! My cache game is not strong. Something I probably need to consider more.
reply
Yeah, a good cache is a trade-off between convenience of access, security and not being that good that even you yourself don't find it anymore, lol
last point is another reason why you should regularly check on your seed: to not forget where it is
reply