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57 sats \ 4 replies \ @jgbtc 25 Oct \ on: What are the reasons for not using a multisignature setup? bitcoin_beginners
My problem is, what to do with the three seeds (assuming 3/2 multisig). I don't know anyone I trust and I don't trust a bank safety deposit box either. If all 3 seeds are sitting in a safe in my house, it's the same as single sig. Any suggestions?
You could try collaborative custody, even if a safe deposit box isn't perfect.
There are probably no perfect solutions.
keep in mind the greatest loss of funds is due to overcomplication, 'locking yourself out', followed by phishing attacks through text messages and emails usually at random asking for 'private keys' to 'update your wallet' and stupid stuff.
If you do go down the multisig route... don't forget to back up your xpubs.
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There are plenty of people in my life that I have total and complete trust in, but they mostly live in my house since they are my wife and kids. And there are others outside of immediate family I would trust with a whole range of things, including my life, but they don't understand Bitcoin or the importance of something like a metal plate with seed words stamped on it. Sure I can try to explain this to them but I don't think I can count on them to keep this secure and not lose it, potentially for decades. Unfortunately no potential candidate has the knowledge and appreciation of Bitcoin for me to feel confident asking them to take on this responsibility. I also think it's important to consider the gravity of what's being asked. Someday men from the government may show up at their door with guns and demand they hand it over. I have the decency to consider this possibility and factor that into who I would ask to keep this for me. Yes, nobody I know meets these criteria. But anyway, your condescending and insulting assumption is really appreciated.
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I don't know anyone I trust
my bad,
apparently u do have people in ur life that u can trust. i will go out on a limb and assume that in a difficult situation they can pick up a book and follow a handful of instructions.
information is abundant, i can no longer tolerate ignorance. easy-going days are over, we're heading into deep chaos.
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