I prefer traditional bip39 + mutlisig. Might revisit later when more hw manufactures support these new standards. Good video btw.
@CryptoGuide
3 ай бұрын
Yea it depends on what you are trying to achieve as well as how much complexity you can manage. :)
@jp62200
3 ай бұрын
@@jordanrox007 multisig is unfortunately on chain, more expensive on fee. Here you build the private key off chain
@CryptoGuide
3 ай бұрын
Yea the fees and privacy aspect of multisig are still an issue until signature aggregation is ready for prime time. (Never mind the privacy challenge that storing wallet descriptors everywhere creates)
@jp62200
3 ай бұрын
@@jordanrox007 seems my comments are disappearing?
@CryptoGuide
3 ай бұрын
They get flagged as spam, so need manual approval. (No idea why, though looks like I can manually flag users as safe, so should be fine from now on)
@jonathanarras1281
2 ай бұрын
I would have lost all my crypto long ago if I hadn’t started watching you in 2020
@CryptoGuide
2 ай бұрын
Glad it helped :)
@TrezorWallet
3 ай бұрын
Great deep dive. Thanks for covering it!
@CryptoGuide
3 ай бұрын
Thanks, no worries :)
@jonathanarras1281
2 ай бұрын
Dang, I bought the bitcoin only safe 5 and a 20 word Trezor backup. Would you move your entire funds onto this? I did this because all my funds are on a ledger and I was afraid of the ledger recover being a point of entry to extract my seed. Maybe I should just keep my ledger on bip39. Any thoughts?
@CryptoGuide
2 ай бұрын
You can still use BIP39 with the Safe 5, so unless you plan to go to multi-share backups later, you can just leave it as-is.
@antoniocouto7092
Ай бұрын
Thanks for the video, slip39 20 words single backup is more secure than bip39 12 and 24 words?
@CryptoGuide
Ай бұрын
A 20 word SLIP39 backup is a 128 bit key, the same as a 12 word BIP39 seed. (And 128 bit is fine)
@redking4887
Ай бұрын
What happens in the case of slip39 + passphrase, then at a later date adding multi-share? I’m also worried about compatibility in this scenario. I’m more interested in plausible deniability. Passphrase I think is essential.
@CryptoGuide
Ай бұрын
Passphrase use isn't related to whether or not the seed is multi share, you can use both together. (And re-work the underlying recovery shares at any time)
@сергейомега-у1о
2 ай бұрын
When I download your databases from the site, I can’t open them in Windows, how can I solve this problem??
@CryptoGuide
2 ай бұрын
Don't spam multiple videos, one comment thread is enough
@Char-rc2qf
Ай бұрын
I have the trezor 5 in the setup I picked the slip 39 it generated a single seed do I have to go back in settings and chose the multi share …with slip 39 will I be able to transfer crypto to a new cold wallet vendor if trezor went out of businesses…if I have not moved any crypto on to the cw but completed setup can I reset the trezor and select bip39 thanks
@CryptoGuide
Ай бұрын
There are a few options to recover SLIP39 wallets without a Trezor, but support for other hardware wallets is quite limited at the moment. That said, you can still just use the Trezor 5 with a BIP39 seed just fine.
@gautamchoksi
Ай бұрын
Is there any way to see the master fingerprint of the trezor safe 5? Have you been able to connect the trezor safe 5 to sparrow or Nunchuk?
@CryptoGuide
Ай бұрын
If you use it with Sparrow you will see it. Trezor Safe 5 support was merged into HWI 4 days ago (HWI is what sparrow uses for connecting via USB) so expect to see it work properly in the next official release of Sparrow.
@kocsorklara3434
3 ай бұрын
Thanks a lot! Are you going to have a more in-depth review of the new Safe 3 and Safe 5 models, especially on the new security improvements?
@CryptoGuide
3 ай бұрын
I have already done one for the Safe 3, will do the Safe 5 when it arrives. (But it just looks like a Trezor T with a secure element, same as the Safe 3)
@mattprez
Ай бұрын
Great video! 👍 Is this different to Shamir? Or is this indeed Shamir?
@CryptoGuide
Ай бұрын
SLIP39 is a specific implementation of Shamir :)
@martinlutherkingjr.5582
3 ай бұрын
I heard there’s some sort of auto firmware update feature in one of the recent trezor updates that could be a potential security risk? Is that accurate or am I just hearing nonsense? I didn’t see it in their release notes.
@CryptoGuide
3 ай бұрын
Trezor Suite, the companion software provided by Trezor does have an option for an in-app auto update of itself, but this isn't really related to the hardware, as you will need to confirm firmware updates on-device and the device itself will also only accept official signed updates from Trezor. (Unless you have specifically selected to load unofficial firmware, which will throw all kinds of warnings)
@martinlutherkingjr.5582
3 ай бұрын
@@CryptoGuide Ah, ok, good. I figured trezor wouldn’t do something stupid like auto update firmware. Good to hear.
@CryptoGuide
3 ай бұрын
Yea even Ledger haven't gone that far ;)
@dexterbigbags9326
Ай бұрын
not interesed in shamir share , ledger nano firmware update already locked me out of some of its important features, i i will not update to accept the shamir , is there a hardware wallet that does not us the three shamir share , as im not interested in it .. ? thanks ?
@CryptoGuide
Ай бұрын
Ledger doesn't support it and it's only optional for Trezor, BIP39 is still filly supported.
@-C.C
3 ай бұрын
So if you can still recover from the original seed, even after you have set up multi-share, what’s the point? Should you destroy the original seed record and just use the multi-share from then on?
@CryptoGuide
3 ай бұрын
It depends on your setup but you might do something like have a full copy in a safe in your home and have a multi-share set distributed amongst different locations or people. (Or something like that) That said, most people probably want to destroy the single backup after creating (and testing) the multi-share backup.
@jp62200
3 ай бұрын
Trezor T had snorr backup, they replaced it with slip39?
@CryptoGuide
3 ай бұрын
Trezor T had SLIP39 too, but didn't support the ability to re-create backup sets like is possible now with their update to the standard.
@leslieguinn6157
3 ай бұрын
This is just for illustration. I have a Trezor Model T. I created a wallet backup with a bip39 high entropy passphrase and Super Shamir. One set is a 3x4. Another set is a 4x4. Another set is a 4x8. I can verify and recover the wallet with 1 from 3x4 and 2 from 4x4 or 2 from 4x8. Can the new slip39 do this like my Mode T? You do good work. Thanks..🧡😊
@CryptoGuide
3 ай бұрын
I didn't cover Super Shamir in this video, but the functionality from the Trezor T is unchanged in this regard and is all still there for all core devices (Trezor T, Safe 3 and Safe 5), though it still needs to be triggered via the command line. :)
@leslieguinn6157
3 ай бұрын
@@CryptoGuide Thanks man. But I think I triggered Super Shamir from the touch screen. But it's been a while. So I could be mistaken. But I very much like the command line..👍
@CryptoGuide
3 ай бұрын
Yea you kick the workflow off from the command line (and Maybe Electrum) but once it is started, you select all the stuff on the touchscreen of the device itself.
@bitcoinjc
Ай бұрын
Awesome video, thank you.
@CryptoGuide
Ай бұрын
Thanks, glad it helped :)
@babavanga6951
2 ай бұрын
Hi, when I use passphrase for single share and after that upgrade for multi share, passpharse will work for multishare backup too?
@babavanga6951
2 ай бұрын
And what advantage does slip39 have against bip39 backup+passphrase?
@CryptoGuide
2 ай бұрын
You can also add a passphrase for all slip39 wallets, the number of shares isn't relevant to this. SLIP39 multi-share is much less error prone, as the share words are chosen for you have a checksum for each set.
@babavanga6951
2 ай бұрын
so when I use slip39 multishare, I have two ways to restore the wallet (original single share and multishare) and passphrase will be compatible with both options?
@CryptoGuide
2 ай бұрын
That's right.
@formetoknow540
3 ай бұрын
Crypto guide is very smart
@CryptoGuide
3 ай бұрын
Thanks ;)
@jp62200
3 ай бұрын
@@CryptoGuide true
@CryptoGuide
3 ай бұрын
;)
@formetoknow540
3 ай бұрын
@CryptoGuide thanks for the explanation of the difference in SLIP39 and bip39 didn't know the check sum was more them a 24 seed
@CryptoGuide
2 ай бұрын
Yea it's *significantly* stronger, (So like 1 in a billion chance of having a false positive checksum for all SLIP39 seed types, as opposed to 1/16 for 12 words and 1/256 for 24 words) having 30 bits for the checksum regardless of the length of the SLIP39 mnemonic. (See here: github.com/satoshilabs/slips/blob/master/slip-0039.md#format-of-the-share-mnemonic)
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