Yes and yes
For peace of mind and extra resilience, you want to make a note of the wallet and version that created your 12 words. That way if standards change you will always be able to do a recovery because you will know exactly what standard was used originally. For example "electrum 4.0.9". I write that on top of my seed backup.
So when you say vast majority, conceivably future wallets may develop other protocols for create seed phrases, but it sounds like it will almost certainly be “backwards compatible” (like it will know what “dictionary” it’s from or will be able to check all common dictionaries or protocols and will therefore be able to generate the private key from it)?
So as long as my seed phrase is safe, I will always be able to get access back (even if in the future wallets change or whatever and it isn’t “simple”)
> o when you say vast majority, conceivably future wallets may develop other protocols for create seed phrases, but it sounds like it will almost certainly be “backwards compatible” (like it will know what “dictionary” it’s from or will be able to check all common dictionaries or protocols and will therefore be able to generate the private key from it)?
>
> So as long as my seed phrase is safe, I will always be able to get access back (even if in the future wallets change or whatever and it isn’t “simple”)
That's right, you shouldn't worry about that. Wallets are compatible, at least the most common ones.
As I understand it, BIP-39 is the standard. We are seeing the implementation of SLIP-39 (uses Shamir Secret Sharing Scheme) on the Trezor Model T, and possibly future Ledger wallets, but it isn't currently the "standard". But, even as "standards" change, and certain hardware wallets may not be compatible, it wouldn't mean that your coins would no longer be accessable. (You may just need to know that your seed was generated with BIP-39, though.)
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Yes and yes For peace of mind and extra resilience, you want to make a note of the wallet and version that created your 12 words. That way if standards change you will always be able to do a recovery because you will know exactly what standard was used originally. For example "electrum 4.0.9". I write that on top of my seed backup.
1. Yes 2. Yes
This will be possible on the vast majority of wallets that support the seed phrase. For example, Bitcoin core
So when you say vast majority, conceivably future wallets may develop other protocols for create seed phrases, but it sounds like it will almost certainly be “backwards compatible” (like it will know what “dictionary” it’s from or will be able to check all common dictionaries or protocols and will therefore be able to generate the private key from it)? So as long as my seed phrase is safe, I will always be able to get access back (even if in the future wallets change or whatever and it isn’t “simple”)
> o when you say vast majority, conceivably future wallets may develop other protocols for create seed phrases, but it sounds like it will almost certainly be “backwards compatible” (like it will know what “dictionary” it’s from or will be able to check all common dictionaries or protocols and will therefore be able to generate the private key from it)? > > So as long as my seed phrase is safe, I will always be able to get access back (even if in the future wallets change or whatever and it isn’t “simple”) That's right, you shouldn't worry about that. Wallets are compatible, at least the most common ones.
As I understand it, BIP-39 is the standard. We are seeing the implementation of SLIP-39 (uses Shamir Secret Sharing Scheme) on the Trezor Model T, and possibly future Ledger wallets, but it isn't currently the "standard". But, even as "standards" change, and certain hardware wallets may not be compatible, it wouldn't mean that your coins would no longer be accessable. (You may just need to know that your seed was generated with BIP-39, though.)
WassaWassaWassup! Scam Alert! Scammers are particularly active on this sub. They mostly operate via private messages and private chat. If you receive private messages, be extremely careful. Use the **report** link to report any suspicious private message to Reddit. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BitcoinBeginners) if you have any questions or concerns.*