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10 sats \ 3 replies \ @jgbtc 31 Mar 2023 \ parent \ on: Stop pushing HWW and complex multisig setup to normies bitcoin
The only defense to a $5 wrench attack is having a decoy wallet you can hand over with hopefully sufficient amount on it to appease the attacker. Multisig works for the scenario where someone breaks into your home when you're not there and gets your coldcard.
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5 sats \ 0 replies \ @frostdragon 31 Mar 2023
Multisig does not nullify $5 wrench attack defense.
First off, multisig is long term savings, deposit only. Ideally, you don't even have that wallet anywhere on you. If you want to keep a smaller amount of bitcoin accessible to spend from, you can totally do that.
Second, if for whatever reason, you want to keep a multisig HWW on you, you can still use something like cold card that has duress defense options.
But IMO, a multisig wallet is a GREAT decoy wallet. You can just hand it over, give them the PIN and everything.
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0 sats \ 1 reply \ @ek 13 Apr 2023
What about a own $5 wrench?
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3 sats \ 0 replies \ @frostdragon 13 Apr 2023
Wrench sword fight!
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