mike
2w ago
Multisig users, this is important
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npub1gqgpf
@npub1gqgpf
2w ago
Love this! Thanks for sharing!
I think way too many people are blindly going this route without fully understanding what multisig without fully understanding its implications or what it really even is.
Truth is, many people who think they need multisig really don’t…they just need to have their seed phrase stored in multiple secure safe spots for redundancy.
I think way too many people are blindly going this route without fully understanding what multisig without fully understanding its implications or what it really even is.
Truth is, many people who think they need multisig really don’t…they just need to have their seed phrase stored in multiple secure safe spots for redundancy.
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npub18zsu6
@npub18zsu6
2w ago
yes, but it’s super easy to store public key backups everywhere.
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npub1xlk4a
@npub1xlk4a
2w ago
interesante!
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npub19xgym
@npub19xgym
2w ago
Thanks for posring
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npub1lcetw
@npub1lcetw
2w ago
Tl;dr, back up your whole wallet descriptor sans private keys. They're a little less sensitive than private keys as they can't spend funds (but can give up privacy), so most find it safe enough to encrypt them and store them digitally (which should NEVER be done with private keys that guard anything important).
I haven't played enough with Taproot yet to know if it makes this slightly less onerous especially if you've got your keypath key or musig2 keys, but am curious. Mostly waiting to not need to use edge firmware to roll it out on the coldcard.
I haven't played enough with Taproot yet to know if it makes this slightly less onerous especially if you've got your keypath key or musig2 keys, but am curious. Mostly waiting to not need to use edge firmware to roll it out on the coldcard.
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npub1jkfj8
@npub1jkfj8
2w ago
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Taking a leap of faith, I invested $5,000 and I saw quick returns! That moment reshaped my outlook on wealth-building, showing me that the right investment can open doors to financial freedom.
Today, I’m proud to say I earn over $100,000, all thanks to that one decision. If you’re looking for a smart way to grow your wealth I highly recommend Susan she’s an expert in financial success.
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npub12ug3h
@npub12ug3h
2w ago
Mmm was a little concerning when people were peddling multisig as a Goldilocks solution to most people
I have one purely because it stops me being stupid and gives me time to think about what I’m doing. The having one party of redundancy is a side bonus
I have one purely because it stops me being stupid and gives me time to think about what I’m doing. The having one party of redundancy is a side bonus
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npub1lcetw
@npub1lcetw
2w ago
Where it's great for noobs is COLLABORATIVE multisig, a la Bitkey or Casa, where the custodian backs up a key AND the public keys.
That said, the privacy tradeoff is non-trivial.
That said, the privacy tradeoff is non-trivial.
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npub1sec6d
@npub1sec6d
2w ago
Nice, been saying the same thing for a while now.
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npub1xuc7z
@npub1xuc7z
2w ago