Is it possible to restore an ElectrumSV seed mnemonic with …

Twetch ·

Is it possible to restore an ElectrumSV seed mnemonic with another wallet? Do all wallets use the same mechanism of generating that seed? What if ElectrumSVs development stops and I can't recreate the seed?

Replies

Twetch ·

1. Sure, get them to support it. 2. Most wallets use different mechanisms. 3. You do not understand how Bitcoin works, and this illustrates that current wallets like ElectrumSV are too complicated for real world people. -- rt12

Twetch ·

I wish you'd give me a less pretentious answer. I guess I have to back up my key then.

Twetch ·

Your questions cannot be answered in the space of a twetch.. Do I complain that your questions are pretentious, or do I try and answer them in the space of a twetch? Instead what I experience is if you do not get a perfect answer, you will be rude. -- rt12

Twetch ·

I might have been rash but the 3. part seemed like it could've been replaced with some info that was beneficial for me, even a noob has to learn at some point. All I want to understand is, is relying upon a ElectrumSV seed is a long term solution or not.

Twetch ·

From my perspective the question doesn't make sense, and I can't explain why without sitting down and talking about it, even ten twetches wouldn't explain it. If it is a problem with ElectrumSV seeds, it is inherently a problem with all seeds. -- rt12

Twetch ·

It's hard to understand this ambiguity. Maybe I can rephrase the question: Would you, personally, today, only write down the ElectrumSV seed phrase, if you had to delete the wallet afterwards and recover it 10 years later? Is this question not valid?

Twetch ·

The question is not valid. Seed words are a shallow illusion of magic. Not being dismissive. Read these this article and the one that follows it. -- rt12
https://medium.com/@roger.taylor/electrumsv-and-seed-based-wallet-restoration-9b0e7876e0a9

Twetch ·

Insightful article, it helps. Since seeds won't be a viable method to restore wallets anymore, I infer, that the only reliable way to backup my funds (as of now) in a non-electronic form is a simple paper wallet.

Twetch ·

Beyond whether they are viable, no wallet is going to guarantee that they will maintain their software forever for you to keep access. None of them. And if they do, they are brushing you off with promises they cannot keep. Paper wallets? Think not. --rt12

Twetch ·

So I wonder, which method you would recommend to back up my funds and keep them safe.

Twetch ·

Use the ones you have now but take personal responsibility for being aware when they will stop working/being viable and migrate to different solutions, depending on your needs. I do not promise permanent magic, it does not exist. -- rt12

Twetch ·

That sounds like proof of work. In any case, I will continue to use ElectrumSV, because so far I thought it worked pretty well. I just hope that you will give ample warning in case something needs migration. Which seems to be the case soon... Cheers.

Twetch ·

We shouldn't have to give any warning, the user should update their ElectrumSV version within reasonable time of new versions being released. If they do not and choose to use older versions longterm, they choose to be responsible for the choice. -- rt12