A Paper Computer for Bitcoin? Codex32 with Andrew Poelstra (SLP506)

Official Podcast Episode: stephanlivera....
Timestamp:
[00:00:00] Introduction
[00:01:20] Bitcoin private keys today
[00:07:22] Multi-signature and Shamir Secret Sharing contrasted
[00:08:20] Where to keep shards or keys
[00:10:00] Where to store shards?
[00:11:40] Threshold sizing
[00:15:50] Inheritance and recovery
[00:19:29] Pacific Bitcoin
[00:20:29] Coinkite
[00:22:25] Risks with Hardware wallets
[00:29:30] Keeping Data Intact
[00:32:34] Codex32
[00:33:19] Paper computers (Volvelles)
[00:40:30] Checksums
[00:45:01] BIP39 vs codex32
[00:46:20] Base58 protocol school
[00:47:18] mempool.space
[00:47:55] Walkthrough process
[00:51:50] Would you wipe the hardware?
[00:55:30] Recovery in the future
A ‘paper computer’ for Bitcoin checksums and Shamir Secret Sharing may seem absurd, but that’s what we’re talking about in this episode! This project is a scheme to generate, encode, checksum, split and recover Bitcoin secret keys, using pencil, paper and lookup tables (alternately, volvelles). We discuss codex32 and the motivation behind it with Andrew Poelstra (Director of Research, Blockstream). Note this is the first of a two part episode. In this first part we discuss:
- Bitcoin private keys today
- Multi signature and Shamir Secret Sharing contrasted
- Where to keep shards or keys
- Error correction
- Risks with Hardware wallets (even though you should still use them)
- BIP39 vs codex32
- Limitations of the paper computer (Volvelles)
Links:
- codex32 website: secretcodex32....
- codex32 github: github.com/Blo...
- Blockstream store: store.blockstr...
Sponsors:
- Pacific Bitcoin Festival (code LIVERA)- www.pacificbit...
- CoinKite.com (code LIVERA)- coinkite.com/
- Mempool.space- mempool.space/
- Base58- www.base58.info/
Stepha Livera links:
- Follow me on Twitter @stephanlivera- / stephanlivera
- Subscribe to the podcast- plinkhq.com/i/...

[@oflowshow]

You are on a roll!!!

[@byronhambly]

This was a really great chat, thanks @StephanLivera looking forward to part 2

[@ikust007]

🙏

[@ikust007]

Understanding 21%. But still loved it

[@StuffBudDuz]

I like the idea, but I'm having a hard time seeing the advantage over simply memorizing the seed phrase (i.e. "brain wallet"). I see a use case for estates, possibly.

[@StephanLivera]

Yeah I guess the advantage he'd say is you're generating the key totally offline and without hardware