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96 sats \ 4 replies \ @kruw 25 Oct 2024 \ on: What are the reasons for not using a multisignature setup? bitcoin_beginners
Multisig is useless for most people because they don't own multiple geographically separated properties to store each key. Having 2 of 3 keys doesn't make any opsec difference if all the keys are located in the same place.
Multisig is useless for most people because they don't own multiple geographically separated properties to store each key. Having 2 of 3 keys doesn't make any opsec difference if all the keys are located in the same place.
i agreee, it is a valid concern about the practicality of multisig setups for individuals who don't have multiple geographically separated properties to store each key. However, even if all devices are stored in the same location, using 3 different vendors for multisig still safeguards against a catastrophic failure of a single vendor, protecting your life savings from being lost due to a vendor-specific vulnerability or compromise.
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Which aligns with level of wealth doesn't it.
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Sort of. I would use multisig if I had over 1 BTC, but 1 BTC doesn't buy you even one decent property of the required 3 properties.
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You don´t necessarily need three properties. Geographical distribution could also look like this:
- one key in your desk
- one key burried in the backyard
- one key at your sisters house
Technically this is geographically distributed, and still better than all keys in the same drawer.
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