The industry consensus seems to be: make the user write down the 12 words (aka mnenonic) on a piece of paper and store it at a safe place. Then you can use these words to restore your seed.
Bitcoinj supports this using the org.bitcoinj.crypto.MnemonicCode class; have a look at the wallettemplate project for how it is implemented. On 12/03/2019 04.13, Tom Va wrote: > Hi, > > This is my first post in this group so please pardon me for any > uncharacteristic locutions. > I would like to contribute to this project. > > *My question is has anyone come up with a way where a private key no > longer can be lost?* > For example, I generated my private key on my local computer/smartphone. > If my computer crashes or I drop my phone in the ocean I've lost my coins. > My solution is to send out an encrypted seed at the time a private key > is generated so that a user can use it to regenerate the private key. > > Of course it's not going to be like the user will just use the actual > sent encrypted seed to regenerate the private key. > There will be a set of rules the user comes up with and only that user > or who ever she shares the rules with to "decrypt" the seed and use it > to regenerate the private key. > > This would be like an HD wallet, but instead of a perdetermined method > of generating the seed the user would generate the seed. > For example "when" the user loses his key he can look at the set of > rules he came up with to regenerate the encrypted seed which he'll > receive in one way or another. > Then he can take that encrypted seed (a long string of text, probably > base on Base58Check form) and base on his rules he can break the seed > into phrases to regenerate the private key. > > -- > You received this message because you are subscribed to the Google > Groups "bitcoinj" group. > To unsubscribe from this group and stop receiving emails from it, send > an email to bitcoinj+unsubscr...@googlegroups.com > <mailto:bitcoinj+unsubscr...@googlegroups.com>. > For more options, visit https://groups.google.com/d/optout. -- You received this message because you are subscribed to the Google Groups "bitcoinj" group. To unsubscribe from this group and stop receiving emails from it, send an email to bitcoinj+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
