do you?
(and "paper wallet" is not a valid answer as you'll need to move funds eventually)
single sig phone/computer7.8%
single sig hw wallet53.1%
multisig 2-of-321.9%
other (please comment)17.2%
64 votes \ poll ended
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do you?
(and "paper wallet" is not a valid answer as you'll need to move funds eventually)
I will offer the obligatory nice try fed since no one else has yet.
https://m.stacker.news/22109
For most users, single sig is fine.
Backup seed words and use a passphrase.
At what point is it not fine?
Companies. Rogue colleague cannot run off with the piggy bank.
Hard to say, really, but everybody has to assess their own setup risk and come to their own conclusions.
I do think multisig for company treasuries etc. is an important feature, but for the average user it's overkill imo.
If you lightning, you multisig
(Unless you use a custodian, then they multisig)
not much point for a single non richie.
https://m.stacker.news/22111
Single Sig HW + Passphrase
What if the device fails?
You use the seed (12 or 24 words) and the passphrase to access to your funds.
Ah, ok. You write down the seed on paper too.
And a metal back up is a good option too.
Restore on something else.
I tried to do some testing with a multisig a few months ago and it did not go well. As a result I haven't switched to multisig yet. Here is what I wanted to test:
The idea being that I could use my friend's signing device as a recovery option if I lost 1 of my signing devices. Using all the technology that already exists we should be able to do all this over the internet.
Idk if the issue was they were on a Mac or what but we were never able to actually successfully sign a PSBT and broadcast it. I could do it locally when I tested with 3 signing devices, but when I would sign a PSBT and send it to them Sparrow had issues with signing it.
2-2 using two ios devices.
What if one fails?
Multisig 5 of 10.
Different vendor hw wallets, phone and desktop hot wallets. Funds don't get moved easily and that is intentional
Bravo!
I would say 3/4 of my bitcoins is in a multisig, the rest is in a single Sig, and a small amount in a software wallet. I have also a bit of gold, since in Asia it is easily exchanged thanks to Chinese people.
I like this.
An an individual, nah. As an escrow service provider, 2/3 multisig is the way.
Yeah but I'm not too crazy on it is it necessary no is it useful though for sure depends on your level of responsibility I didn't get too complicated with it it's all a matter if you just create multiple copies of your keys and separate them there's different levels of multi sig but the 2 of 3s and 3 of 5s stuff while I appreciate it it's not that critical just my thoughts
Yes and No
I have a multisig 2/3 love the set up! Not liking the fees right now to condense my 50 UTXO’s though and I guess that consolidation costs more sats with a multi sig.
Yeah you're right. I think MPC will solve this. Makes the transaction look like a single sig which is smaller.