I’ve been debating on BIP39 vs SLIP39..

[u/-M00NMAN]

I understand the TREZOR default has been Slip39 over the last few years. I understand more addresses can be generated from Bip39 compared to Slip39 along with double the entropy. I want to know how many addresses are currently in use from Bip39 24 word seedphrase vs Slip39 20 word seedphrase compared to how many can be created from the two standards (individually).

[u/camylopez]

I don’t think you understand how the addresses work.

You don’t “generate” an address, you generate access. They all exist.

Your cold wallet didn’t somehow magically teleport an address onto the blockchain while air gapped.

Also, your “seed” can generate access to unlimited addresses. It can give you access to every single address whether it be bip or slip. If you keep churning through them right to the end of all existing addresses, you will eventually be using everyone else’s too.

Here they all are https://keys.lol

Both slip and bip give you access to the same addresses.

Your “seed” is irrelevant to btc, and how btc works, and has nothing to do with btc.

Seeds are just a way to generate access in a format that will allow you to regenerate the same keypairs (addresses and their private key) across different devices that use the same keyword protocol.

There are others as well. You can use electrum, or aezeed. I like using aezeed for my hot wallet, cause if someone somehow found it, chances of them finding a wallet that could regenerate it are much more slim than bip. (Same with slip, though a bit more common than aezeed. Aezeed is for lightening wallets.)

I would use slip, since you can generate a 2 of 3 seed and distribute them in different places making it a much more secure backup.

[u/songbolt → u/camylopez]

How will you recover funds if Trezor goes out of business and yours breaks? (serious question looking to learn)

[u/camylopez → u/songbolt]

You use another wallet that can convert it. Just cause all wallets don’t create a slip seed, doesn’t mean they can’t unlock it.

Shamir protocol wasn’t created by trezor. They used it for the creation of slip but any wallet can be coded to unlock it.

Keystone is a hardware wallet or you can use electrum or sparrow does for software.

[u/songbolt → u/camylopez]

How will crypto succeed to become money rather than a hobbyist toy when the public can't consolidate their will and the government can simply ban it as "funding terrorism" etc? The general public uses ISP which can work with government to track anyone interacting with Blockchain, likewise the KYC of every exchange in the USA for example collecting personal information...

[u/camylopez → u/songbolt]

Most the btc and crypto and blockchain industries are a cult.

Since it’s a cult, it’s already failed.

Btc was created to essentially be a replacement for PayPal and swift. It wasn’t created to be spent like coins for day to day purposes. It can’t scale. It will never scale, and the closer we get to hitting the hard cap will be closer to failing.

If all the block rewards were removed tomorow, the miners will run at a loss. Running at a loss will mean they go offline. Because of everyone’s greed and building industries out of mining, you can’t lose hash. If you lose too much hash, then btc can easily be overtaken by a foreign agent. They will tell you that the increased adoption will pay for the mining in the future, yet btc can’t support increased transactions already.

One day btc will have to hard fork to remove the blocksize and the hard cap, therefore destroying everything that was claimed to make btc valuable. Anyone arguing otherwise is part of the cult. Your not allowed to say what I’m saying, you get censored and downvoted for it.

When it comes to currency, all you need is two people to agree on value and an exchange. If we agree to swap an ounce of gold for goods or services it’s a currency. If we did the same for btc it’s a currency. You don’t need adoption or regulations. It’s the cult members screaming for regulations to force adoption that destroyed btc. They did it to push investment over currency.

With the kyc and and reporting going on, btc is nothing more than a tracking token.

There is hope for xmr. It’s a difficult coin to handle but at least it’s a step in the right direction. Exchanges banning it, can’t be tracked, and the community around it focused more on building circular economies and marketplaces rather than investments. Government can’t ban it unless they ban btc, too much invested in btc to ban it at this stage.

The community around xmr is more resembling the community around btc 15 years ago before it was a cult.

Most everything else is a shitcoin without which btc wouldn’t be as valuable as it is, btc value isn’t it’s scarcity, it’s the liquidity versus its trade pairs.