Shill me your ideas for interesting (yet reasonable to maintain) milti-sig setups and why they're good.
Please DON'T tell me your exact setup. I don't want that info. 🙈
Discussion
Do tell me 😏
Time decay expanding multi sig ☺️
Is that actually possible?
Liana by Wizard Sardine
i think it’s a smart way to set a 2-3 first with a time decay of 2-4 that the extra 1 is at a service provider. So it is still self custody with the situation if two people fuck up we still have an option to avoid losing coin
Three wallets. Three vendors. Three locations. Sparrow. (Don’t forget the backups)
2 of 3 or 3 of 3?
2 of 3 sir
Never ever do 3 of 3. Or N of N in general (lightning channels are the exception with 2 of 2 but that’s a different story).
With that setup you don’t have any redundancy and you’ve increased the chances of losing keys.
You should always back up every key. So, in a 2 of 2 losing 2 keys and 2 backups is unlikely. 3 of 3 is unwieldy in general use but also with setups using CKBunker, or decay threshold N of N wallet setups are not as dangerous anymore.
Decaying threshold reduces the risk.
If you’ve got that setup it’s not as bad but you’re still locked out of your own funds for some period if you lose a key. That inherits the risk profile of time locks where if you feel like your keys are compromised or at imminent risk then you can’t move funds to a new setup in time. It really depends on your threat model.
If you’re backing up 3 sets of keys then you’ve got at least 6 to keep up with, which makes recovery easier, but for each one you have to maintain security. It creates more opportunities to leak your keys.
I like the idea of a two of three including a service like unchained and having two wallets of different vendors for every key held, it makes for a backup that’s not a plain seedphrase
A software wallet key on a phone, an NFC object like a Tapsigner, and a hardware wallet (that you keep at home mostly). That's a good one for your walking around money.