Oddbean new post about login | logout MULTISIG IS A SUPER POWER. USE IT.
Is there a minimum stack size you see needing before moving from hardware wallet to multisig? I feel like sub one bitcoin it may not be worth it.
COMES DOWN TO PERSONAL THREAT MODEL. DISTRIBUTED MULTISIG IS MUCH MORE RESISTANT TO THEFT. BEST FOR LONG TERM SAVINGS.
Especially considering future on chain activity and increased multisig fees, probably not
Threshold signatures are a super power, p2sh is a shitcoin
Is this the beginning of a team script vs MPC Gang nostr battle?
we all know script is dead
Agreed.
We need this and a DNA sample and the Declaration of Independence
Ive really wanted to set this up. I utilize coldcard and Sparrow. But am nervous about making my set up to complicated. I feel my 24 words plus pass phrase and such is secure. Why multisig?
I have exactly the same thought, and exactly the same setup. It’s been serving me well, why risk fucking myself up with more complexity?
CC and sparrow too. Made my own seed using dice. I feel plenty secure
I’ve talked to experienced devs who use single sig or single sig and a pass phrase. The trade offs for multi sig don’t really make sense in my opinion. A lot of added complexity, more expensive to set up, harder to maintain, harder to access in an emergency. Yes, it’s more secure. But the security offered by single sig is absolutely sufficient. Metaphorically, the castle walls are already 10,000 kilometers high. Why make them 20,000?
Good analogy Do I really need to add a crocs to my castle moat that already has crocs and a draw bridge?
The drawback of "harder to access in an emergency" quickly turns into a feature if the emergency is duress. Sure you can do a honeypot wallet with another 25th word, but that does not work as soon as the attacker knows one address of yours and becomes suspicious why it does not show up on the wallet you unlocked for him. With MultiSig it is evident you need to gather several keys and might have to travel places dkr that ...
Wait, wasn’t your last super power… waking up early? You’re like the Indian kid who had “Heart” as his Captain Planet power.
Yes but newbs need to be aware of the tradeoffs: (1) you need at least two more secure locations to store backups; (2) you need fatter utxos to make up for the added weight of transactions when you spend which means you have to spend a lot of time consolidating safely or you will compromise your privacy; (3) you need to keep a single-sig cold wallet as well for medium term savings or fees will bite and because you don’t want to access the multisig too often or you may compromise the security of your multisig and because you don’t want to let receivers think you have a big stack; (4) you need to step up your opsec when you spend from the multisig as the tx combined with an IP or any other personal info leak can lead to a wrench attack; and, (5) you need to store multiple backups of the wallet because you and your heirs cannot just rely on the seed words to access funds. I can’t wait for FROST, which would take care of many, but not all, of these tradeoffs.
12 words is more of a super power.
what is this?
how?
was surprised to see no taproot multisig on sparrow /coldcard yet. where's the taproot mutlsig at? nunchuk? taproot seems significantly better for multisig.
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Yes.
Which witch is which? I bet you wish for an edit switch