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0 sats \ 15 replies \ @Zepasta 22 Nov 2023 \ parent \ on: Looking for a post discussing 2:2 vs 2:3 multisig cold storage bitcoin
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That sounds like just 3 copies of a single sig backup, probably bad.
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This, I understand:
"When you add a passphrase to a seedphrase, it is essentially a new private key."
This, I don't understand:
"Using one seedphrase with three distinct passphrases is much, much more secure compared to using one seedphrase with just one passphrase"
When using one seed phrase with three distinct passphrases - at that point, aren't you creating 3 separate private keys?
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Yes.
- Seedphrase #1 + Passphrase #1
- Seedphrase #1 + Passphrase #2
- Seedphrase #1 + Passphrase #3
Its all different private keys.
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Very interesting, I'd like to see a deep dive write up on this. Wen @DarthCoin?
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What more guide than that simple explanation Onions gave you need?
Is literally this:
When you add a passphrase to a seedphrase, it is essentially a new private key.
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If I knew I wouldn't need it...
I may just have to fuck around with it on regtest a few different ways with different software to check for blindspots
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Why do you want to complicate your life with multisig?
Are you a big fucking company with multiple users that need the access to that wallet?
For a simple individual, is not really necessary man.
Keep it simple, damn it.