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755 sats \ 13 replies \ @DarthCoin 24 Oct \ on: Need NO-BS advice on Multi-Sig Custody from Stacker News bitcoin

The important question is to ask for WHO is multisig useful and necessary:

for big companies with multiple individuals managing the funds
for absolute paranoia individuals that do not have any trust in themselves. And making it even more complicated will add even more paranoia until their brains will explode.

Keep it simple and don't let multisig influencers to play with your brains.

Here is an example of simple things: #1260936

Thank you for your attention in this matter

Thank you DarthCoin
I like multisig because there is no 'single point of failure' and I can have multiple keys generated from different hardware wallets. So it is harder for one of them to cheat me or steal from me.

It also is easier (I think) for family to recover my Bitcoin in the event of my death. They can have a key and 'get another key' from another party in the event I died.

I am not comfortable having multiple copies of a single seed phrase because I don't want someone to find one. The more copies the easier it is for someone to find one... and that is unacceptable.

I fear myself (a little) and I fear the government. I don't know what the perfect solution is.

76 sats \ 9 replies \ @DarthCoin 24 Oct

See those 12 peaks in far distance? Each one contain one word of a seed.
I put one word on each peak. Nobody will be able to find it.
Now the important question: how much time those peaks will stand? Almost eternity.

I fear myself (a little) and I fear the government.

Then bitcoin is not for you.

2 sats \ 4 replies \ @ek 24 Oct

Nobody will be able to find it.

Including you?

2 sats \ 3 replies \ @DarthCoin 24 Oct

I live in the mountains, remember?

2 sats \ 2 replies \ @ek 24 Oct

I also remember that you almost fell down one haha

66 sats \ 1 reply \ @DarthCoin 24 Oct

If I die, I die, so be it. Each one we find our destiny when is the right time.

0 sats \ 0 replies \ @Solomonsatoshi 24 Oct

To be free is to choose risk of death over slavery.

0 sats \ 3 replies \ @anon 24 Oct

I don't understand
Edit: I respect you but I don't understand your perspective.

The government is not our friend, and is frankly totally opposed to Bitcoin's original purpose: separating money from state.

Everything the government has done (so far) has been in opposition to Bitcoin as a medium of exchange. The EU is totally opposed and even the Americans haven't removed the Cap Gains Taxes on Bitcoin.

In my opinion if they really understood it they would try to crush it

0 sats \ 2 replies \ @DarthCoin 24 Oct

this one you understand?

If you do not understand even this simple steganography, then you will never understand how multisig works.

0 sats \ 1 reply \ @anon 24 Oct

There are only a few people in the world who could/would know how to put a Bitcoin private key inside an image. Truly one in many millions

Edit: I understand how multisig works. I have used it and I like it.
But for most people balancing cost and complexity is not that simple. NYKNYC and all that but there is the real world also.

6 sats \ 0 replies \ @DarthCoin 24 Oct

Truly one in many millions

LOL are you serious? Where did you lived until now? Under a rock?
Even a kid can do it with few clicks with multiple tools available:

... and many others FOSS

If that is so hard for you, read here: #1260936 - even a postal card sent to your mom can contain 12 words seed.

Also another example: I made over 7000 posts on nostr. Inside those posts there are 12 words of a seed. Find them if you can.

2 sats \ 0 replies \ @SevenOfNine 24 Oct

100% this. Don't overcomplicate things, OP.

0 sats \ 0 replies \ @Solomonsatoshi 24 Oct

Well said by the man dwelling in sackcloth citadel sometimes gets it 100% right.