User talk:Furunodo: Difference between revisions
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Hello, I'd just like to make you aware of the flaws of BIP39, which are known in the technical community but not known much wider. They are described [https://electrum.readthedocs.io/en/latest/seedphrase.html#motivation here on this electrum doc page]. Most seriously, BIP39 flaws mean it is not true to say that backing up a BIP39 seed phrase and name of wallet software is the only thing a user needs to do to keep their money safe. BIP39 works this way because its designers wanted their hardware wallet to also support altcoins. [[User:Belcher|Belcher]] ([[User talk:Belcher|talk]]) 17:25, 23 June 2020 (UTC) | Hello, I'd just like to make you aware of the flaws of BIP39, which are known in the technical community but not known much wider. They are described [https://electrum.readthedocs.io/en/latest/seedphrase.html#motivation here on this electrum doc page]. Most seriously, BIP39 flaws mean it is not true to say that backing up a BIP39 seed phrase and name of wallet software is the only thing a user needs to do to keep their money safe. BIP39 works this way because its designers wanted their hardware wallet to also support altcoins. [[User:Belcher|Belcher]] ([[User talk:Belcher|talk]]) 17:25, 23 June 2020 (UTC) | ||
:Yeah I was kinda aware of these shortcomings. And https://walletsrecovery.org/ seems a useful resource to help. I just fed some of your and my text here into the [[seed phrase#BIP39 and its flaws|seed phrase]] article. There may be other articles that this can be added to as well. | |||
:Looking forward, what do you think has the potential to become a long term solution (standard) to this? [[User:Furunodo|Furunodo]] ([[User talk:Furunodo|talk]]) 12:29, 24 June 2020 (UTC) | |||
Latest revision as of 12:29, 24 June 2020
BIP39 flaws
Hello, I'd just like to make you aware of the flaws of BIP39, which are known in the technical community but not known much wider. They are described here on this electrum doc page. Most seriously, BIP39 flaws mean it is not true to say that backing up a BIP39 seed phrase and name of wallet software is the only thing a user needs to do to keep their money safe. BIP39 works this way because its designers wanted their hardware wallet to also support altcoins. Belcher (talk) 17:25, 23 June 2020 (UTC)
- Yeah I was kinda aware of these shortcomings. And https://walletsrecovery.org/ seems a useful resource to help. I just fed some of your and my text here into the seed phrase article. There may be other articles that this can be added to as well.
- Looking forward, what do you think has the potential to become a long term solution (standard) to this? Furunodo (talk) 12:29, 24 June 2020 (UTC)