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0 sats \ 1 reply \ @ssats 12 Jul 2023 \ on: Niche situations where multisig is a better option than singlesig custody? bitcoin
Like many have mentioned there are cases where you have multiple partners that should be in agreement of all payments. However nobody mentions what happens in the case that one of them dies? Loses access to their key, for some reason. What options are available to handle these cases safety?
I guess one possible option would be to have some sort of script that unlocks the money after a very long time with a single key, which can be cancelled by any other key, no idea if this is possible though!
2-of-3 or 3-of-5 (really any N-of-M where N<M) multi sig can handle missing keys. For a couple, a lawyer can be a decent custodian.
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