#SmartCustody Adversary — Disaster
DISASTER! Its motivation? "I want to destroy. I want to crumble and burn. I want to ruin with water, to blow things into the air. I am bombs, bullets, and explosions. I am sudden and unexpected but disastrous destruction." (1/9)
DISASTER! Its motivation? "I want to destroy. I want to crumble and burn. I want to ruin with water, to blow things into the air. I am bombs, bullets, and explosions. I am sudden and unexpected but disastrous destruction." (1/9)
This is the third adversary in my #SmartCustody book about protecting your cryptocurrency and other digital assets. And the motivations certainly explain the ways that you could lose your private keys. A house fire, a flood, a tornado, a war. (2/9)
When researching for my book, I heard the story of someone who religiously printed his keys to paper wallets. Every quarter he'd reprint so the ink didn't fade (and would then shred the previous one). Unfortunately, he kept those keys in the basement. Which flooded. (3/9)
Last year I polled my Twitter followers about their own recovery key practices. 30% of them did not have redundant copies of their recovery keys & 51% still had their recovery keys only on paper! I live in California, but everywhere you may be vulnerable to some DISASTER. (4/9)
I suggest physically reinforcing your key storage as the best way to defend against disaster. If you use paper, it should be waterproof with permanent ink, but it's even better to stamp or etch your keys into steel or titanium plates. And it's quite easy to do! (5/9)
My cold storage scenario even talks about some of the tradeoffs of different types of metals and other storage devices when applied to truly out-of-bounds temperature changes. (6/9) github.com/BlockchainComm…
The important thing here is to consider which disasters are most likely to strike the location where you store your keys. (And, as always, how likely they are.) Because fire, earthquake, tornado, and warfare all expose different vulnernabilities. (7/9)
And that's the last of my category”Acts of God" adversaries. In the last few days I also covered Death / Incapacitation & Denial of Access. Which are most likely to affect *You*? (8/9)
Have your own stories of DISASTER impacting digital assets? Your own solutions? Let us know! And please consider supporting #SmartCustody. We're working on V2 of the book, with multi-sigs and other expansions: …tcustody.btcpay.blockchaincommons.com (9/9)
