Interesting. As far as multi sig setups go, this seems like a sane setup for most people. Good gift for your less technically adept family relatives. 

I've really never liked multi sig. Makes sense for some people/organizations but not for everyday folks. This seems to take most of the potential pain points out of using multi sig however. 

Not a solution for the truly paranoid, as two of three keys are on Internet connected devices. But it's still much more secure than your fiat bank account likely is. 

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