Multisig is hard?

Picture this: You're a dad who has set up an education fund for your son.

You establish a 3-of-5 multisig wallet where you hold 2 keys, your son's mother holds 2 other keys, and your son holds the fifth key.

You keep one of your keys in a hot wallet to cover ongoing expenses, while the other key is hidden away in case you need to sign twice.

Your wife has the same setup, and your son has his key in a hot wallet.

You, your wife, and your son can sign transactions using your hot wallets if there are no issues. However, if you or your wife have a disagreement or are incapacitated, your son will need to convince both of you to sign twice.

You coordinate all of this via a NIP-17 Nostr group chat directly on the wallet. The group is derived from the wallet descriptor following the protocol developed by nostr:nprofile1qyt8wumn8ghj7am0wshxummnw3ezuurpwf68jtcpzemhxue69uhhwmm59eek7anzd96zu6r0wd6z7qpqq67f4d7qdja237us384ryeekxsz88lz5kaawrcynwe4hqsnufr6suaqcxg for nostr:nprofile1qywhwumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctv9uq3qamnwvaz7tmwdaehgu3wd4hk6tcqypqhjujrh8gaja3ecr8uashxvvhdzkyww4v8swrt54zk2qdm20lm797esdp , ensuring interoperability.

The focus is on providing a frictionless user experience for multisig transactions.

#bitcoinuxui #uxui

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Discussion

Bitcoiners have been complaining for years that bitcoin's ux is bad, and I took it personally.

Give it a second. We've come a long way, and it's only going to get better!

nostr:nevent1qvzqqqqqqypzqmwnkuhryhd88qajwhh0r3npxxayvepjdctzhsrq2f6snd8r8tjrqyv8wumn8ghj7enfd36x2u3wdehhxarj9emkjmn99uqzq8jup3m0jhzstsaltrqp3pzrh6qrdrhrq9ted5e7mk566cdmrrctq42hdn

Woah

That’s a brilliant way to simplify the concept. Real life use case + thoughtful coordination = smart custody. Multisig isn’t hard it just needs the right UX and communication.

I don't understand.

If parents are not collaborating or otherwise one is missing, the son only needs to convince the other to sign twice, since he has one key and the setup is 3 of 5.

Exactly, but that’s just an example. The point here is how the signatures are coordinated via nostr nip17 messages.

yes of course you can nostr everything 😁 as long as there's people running free uncensored servers that is

Yes, if relays shutdown this chat won't function. You can run your own relay to keep it more soverign and reliable.