0 sats \ 2 replies \ @mallardshead 18 Aug 2023 \ parent \ on: Difference between 2/2 multi sig, and just splitting a 24 word seed phrase in 2? bitcoin
Occam's Razor. And realize what 128- or 256-bits of entropy means, trust the math.
A 2/3 custodian is fine. Trying to retain all that information yourself is not. What's also strange are the people who refuse to backup their seed by memorizing it as well, which in real world cases, would prevent 99% of self-custody losses. Literally a once in a lifetime requirement. Instead we get a parade of ever more difficult custody schemes. Good news is that hybrid self custody, scripting, and a possible vault-type BIP could end the self-custody question for good.
Occam's Razor. And realize what 128- or 256-bits of entropy means, trust the math.
Occam's Razor just means the simplest option is usually the better option; The usually matters. I'm not sure what you mean by the entropy sentence. The difference in 128 vs 256 bits of entropy only applies when you think someone might bruteforce their way to getting your private key.
Literally a once in a lifetime requirement
No it isn't, what happens when you have a brain injury that makes you forget your mnemonic phrase? What happens when your forget it as you age since as you age your memory gets worse.
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