top of page

The Commoner

A Basic Strategy for Simplicity and Security with Splitcoin


Introduction


In a digital world rife with complexity and sophistication, many find solace in simplicity. For those who find charm in the commonplace, the Commoner Strategy with Splitcoin brings forward a delightful blend of ease of access, unpretentiousness, and security. You don’t need elaborate safes or exotic locations; with this strategy, the comforts of home merge seamlessly with the guarantees of cryptographic security.



Understanding the Commoner Ethos


While some might opt for strategies that evoke a sense of adventure or opulence, The Commoner strategy emphasizes practicality. It recognizes the innate security of familiar places and the trust one places in the intimate corners of their home.


What Is Needed


Below is everything you will need to follow this storage strategy:

  • 1 pack of Splitcoins or Splitcoin Tags

  • 1 smartphone with the Splitcoin app

  • 1 magnet vault (included with your pack of Splitcoins)

  • 1 pen


One of the following is needed to store your password:

  • 1 password management software

  • 1 piece of paper

  • 1 password magnet (included with your magnet vault)


Implementing the Commoner Strategy with Splitcoin


Getting Started

Prerequisite: Before you get started with implementing the Commoner Strategy, you should make sure you have read the blog post Getting Started with Storage. It covers the basics of storage schemes and a high level view of how Splitcoin works when it comes to storage.


Step 1: Run the Create Vault Process

If you made it this far, then you probably already completed this step! Now you should have a set of Splitcoins, a password, and a seed vault (your encrypted seed phrase) to manage. Follow the rest of these steps to implement The Commoner strategy.


Step 2: Store Your Splitcoins

Hide them in plain sight or well hidden. These should be safe and often overlooked locations in your home. Think behind picture frames, beneath sofa cushions, or inside non-valuable DVD cases. Their everyday nature makes them unlikely targets for curious eyes.


Step 3: Store the Seed Vault (Encrypted Seed Phrase)

This is the very essence of your digital assets. The Commoner strategy suggests writing this down - be it on paper, metal, or the provided magnet. These mediums are durable and immune to all tech malfunctions. Place it in a location you can easily access, perhaps behind a drawer or taped to the underside of your kitchen cabinet. It doesn't need to remain secret, but remember that you will need to recall it to access your seed phrase.


Step 4: Safekeeping the Password

As the key to your coins, your password deserves special attention. While some might choose password management software, those leaning toward the traditional can write it down. This strategy suggests recording it on the included password magnet.

Optional: If you plan on keeping your encrypted seed phrase hidden in a place such as a home vault, you can store your password in your home vault as well. The password does not allow someone to decrypt your encrypted seed phrase by itself. All of your Splitcoins would still be needed to do this.


Step 5: Make a Backup

Having a backup is essential in the unfortunate situation that something happens to one or more of your coins. Create backup set using acrylic Splitcoins, Splitcoin Tags, or QR codes. You can mix and match them. Splitcoin Tools, which are found on the Home tab of the Splitcoin app, can be used to do this easily. Use the Copy Tool to make copies of your coins using NFC. Use the Export To QR tool if you would like to make QR versions of your coins, which can be printed. You can also use the Export Codebook To PDF tool to store your codebook as a single digital file or to print it out. Consider implementing a secondary strategy for your backup set.


Strengths of the Commoner Strategy


1. Convenience: One of the strategy's strongest suits is the ease of access. Your digital assets are always within reach, making recovery or checks a hassle-free experience.


2. Surprising Security: The commonplace, often overlooked spots in a home can serve as perfect hiding places. Their very mundanity acts as a deterrent against theft or unauthorized access.


3. Diversified and Concentrated: With assets spread around your home in various forms (NFC, QR, written phrase), there’s a beautiful balance of diversification and concentration. It ensures the security of dispersal without the anxiety of distance.


Challenges and Points of Consideration


1. Home Vulnerabilities: Homes are susceptible to natural disasters, break-ins, or unforeseen accidents. It's prudent to periodically check the status of your hidden Splitcoins and backups.


2. Memorability: Given the many hiding spots within the strategy, maintaining a discreet list or mental map of where everything is can be beneficial.


3. Rotation and Upkeep: Over time, it might be wise to rotate the hiding places to ensure ongoing security.


Conclusion


The Commoner Strategy celebrates the beauty of the ordinary, proving that effective security doesn't always need bells and whistles. With Splitcoin, it allows individuals to intertwine their digital assets with the fabric of their daily life, ensuring their seed phrase remains both accessible and secure.


In an age where the digital often distances us from the tactile, this strategy brings us back home, both literally and figuratively. It's a gentle nod to the past, where valuables found safety within the four walls of one's abode, yet is firmly rooted in the present, leveraging the power of modern cryptography.


Adopting the Commoner Strategy is more than just a choice of storage; it's a philosophy. It speaks of a belief that the home, with its myriad nooks and crannies, can be both a haven of warmth and a fortress of security. And as the days roll by, with Splitcoins snugly tucked away behind cushions or inside desk drawers, one is reminded of the simple joys of life, where value is not just in coins but in the comfort of home.

5 views0 comments

Recent Posts

See All

Comments


bottom of page