From: Sjors Provoost <sjors@sprovoost.nl>
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Date: Sat, 30 Sep 2017 09:36:46 +0200
References: <e43c6e06-0bdc-360e-eb5c-a3726e4f0fc8@osc.co.cr>
	<96328209-9249-44BC-957A-4EF8DE014E2D@jonasschnelli.ch>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
In-Reply-To: <96328209-9249-44BC-957A-4EF8DE014E2D@jonasschnelli.ch>
Message-Id: <2B95B25F-F47C-4867-A1A6-144200F7B2D4@sprovoost.nl>
Subject: Re: [bitcoin-dev] Paper Wallet support in bitcoin-core
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> Op 30 sep. 2017, om 06:49 heeft Jonas Schnelli via bitcoin-dev =
<bitcoin-dev@lists.linuxfoundation.org> het volgende geschreven:
>=20
>> On 09/29/2017 02:03 PM, Luke Dashjr wrote:
>> Paper wallets are a safety hazard, insecure, and generally not =
advisable.
>>=20
>=20
> I have to agree with Luke.
> And I would also extend those concerns to BIP39 plaintext paper =
backups.
>=20
> IMO, private keys should be generated and used (signing) on a trusted, =
minimal and offline hardware/os. They should never leave the device over =
the channel used for the signing I/O. Users should have no way to view =
or export the private keys (expect for the seed backup). Backups should =
be encrypted (whoever finds the paper backup should need a second factor =
to decrypt) and the restore process should be footgun-safe (especially =
the lost-passphrase deadlock).

I believe BIP39 does an excellent job at reducing the amount of bitcoin =
permanently lost. Stolen funds can at least in theory be retrieved at =
some future date. There's a trade-off between having a backup process =
that is secure and one that people actually use. I don't know the right =
answer, and tend to agree it's better left to individual wallets to =
decide.

Sjors

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