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493 sats \ 4 replies \ @TSW 22 Nov 2023 \ parent \ on: Looking for a post discussing 2:2 vs 2:3 multisig cold storage bitcoin

Wow, this must be one of the riskiest setups that I have heard of:

  • You talk about backups of your seeds but the weakness is in backup in the passphrase
  • Passphrases are not standardized and people use weak passphrases every time
  • You need three additional secure locations to secure your passphrases. In this set-up you require six secure locations
  • There are no standards for this set-up to backup the descriptor, so another thing you need to keep track off
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0 sats \ 3 replies \ @Zepasta 22 Nov 2023 freebie

Its 3-of-3 multisig with different passphrases, you can't really bruteforce that even if they were somewhat weak.

No secure locations needed, be smart... You should only "store" passphrases in your own head. Make them complex yet easy to remember.

You could even use a lengthy quote from a movie or book as a passphrase, so even if you forget parts of it, you can always look it up online.