Author: Sjors Provoost 2017-09-30 07:36:46
Published on: 2017-09-30T07:36:46+00:00
In a recent discussion on the Bitcoin-dev mailing list, Luke Dashjr stated that paper wallets are unsafe and insecure. Jonas Schnelli agreed with this assessment and also extended the concerns to BIP39 plaintext paper backups. Schnelli believes private keys should be generated and used offline on trusted hardware and never leave the device over the channel used for signing. Backups should be encrypted and have a secure restore process. While Schnelli thinks BIP39 does well in reducing permanently lost bitcoin, he is unsure of the trade-off between security and usability. Sjors concludes the thread by suggesting it is up to individual wallets to decide.
Updated on: 2023-06-12T21:22:20.662641+00:00