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0 sats \ 1 reply \ @Scoresby 1 Oct \ parent \ on: What about Bitcoin are you too embarrassed to admit you still don't understand? bitcoin
I like multisig for many reasons, but the wrench attack deterrent (if it can be called that) is most top of mind.
If most people used geographically distributed multisigs, wrench attacks would have low returns.
Most people don't right now, but I still have a sense of peace knowing that my keys are spread out and natural disasters or burglaries are not able to compromise my stack.
A multisig is as close as you can get to having no single point of failure.
Agreed. With all of the databases of exchanges and hardware wallet companies, many bitcoiners' names and addresses are readily available for purchase. There are already plenty of wrench attacks happening but as bitcoin price continues to rise, those attacks will likely only increase.
I do like the inheritance benefits of multisig as well, where I can give my heir a key but not full control of my stack today while I'm alive.
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