Baron's Crypto Trading Journal
- Thread starter Baron
- Start date
Baron
ET Founder
I'm not forgetting my password. In fact, most people set passwords that are simply too complicated in the first place. If you're going to set a password for anything, don't set one that's a bunch of characters and numbers that you'll never remember. Instead, create a sentence that is so memorable to you that you'll never forget it, and then use the entire sentence as your password. Maybe it was the last words spoken to you by a loved one, or a one-liner that was so funny you'll never forget the day you heard it, or a quote from a movie that will be in your mind forever. The possibilities are endless, so choose a sentence that's already been embedded in your brain for a long time.
Exactly. You don't need to write down your password anywhere if you keep it simple but complicated in your head that is easy to remember, that even a 512-bit key cracking algo cannot crack after billions of attempts.
Just look at the maths here.
Let's take a simple 6-figure password with lower case letters, upper case letters, numbers and specials on top of a standard 101-key keyboard. If your password is something dumb like 123456, well, that is easy to figure out because any algo is going to run through sequences like that first. But remember what your options are...
lower case letters, upper case letters, numbers and specials...
That is 26+26+10+10^6 combinations.
That is 139.6 billion possibilities.
So if you simply remember a phrase like Baron might remember..."SuRf6!"
It ain't getting cracked...Ever.
Baron
ET Founder
I'm not sure I understand how you can use it as a backup. When I set up my trezor, it gives you your 24 word seed phrase. Does the exodus wallet do the same thing? Will you use the trezor by doing a restore function with the seed phrase you already have? It gets tricky because of the different root structures of different wallets. It is possible to restore crypto from other wallets, but the way you describe using an Exodus online wallet and using a trezor as a backup is strange.
Or what about this password:
Iwillneverforgetthedaythatpekeloinvestedinbitcoin
Add a 7 to it in the middle somewhere, and then it is safe.
P.S. I did a quick calculation, no need to add the 7...
Yeah, a 1 with over a hundred decimal points after it is unbreakable. Using same parameters of upper, lower, number and specials.
Last edited:
Baron
ET Founder
I may have screwed up the wording, but from what I understand Exodus has a software bridge that you download that connects and pairs with the Trezor. I downloaded the bridge but I haven't got the Trezor yet so I'm not fully 100% knowledgeable as to how it all works in real life. I'm just dumping what I'm doing and what's happening in real-time, that's all. I think the Trezor will be here on Friday the 18th.
But here's the info on the Exodus and Trezor integration:
https://www.exodus.com/trezor-wallet
Last edited:
I'm not sure either about bridges, but honestly, I would only trust a hardware wallet. When you write down your seed and hide it, there is simply no way to lose your Bitcoin by accident. Your trezor will have to be used for any transaction, and you never enter your seed phrase again. With online wallets, who else has that seed phrase? How did it come to you? I'm sure it's not as bad as I imagine or else they wouldn't be popular, but there is no source of worry. If you lose your Bitcoin, it's only because you sent it to someone else, or someone found your seed. But with online wallets, I'm not sure what I need to do to fully protect myself.
The vid was a clever workaround with a vulnerability that the trezor had. It’s been harden since then.
You’ll want a cold storage backup for your seed phases - SS or titanium. The one’s where you cold stamp or engrave have greater durability. Some like to highlight words in a fav book but they wouldn’t survive fire.