What do you thing about multisig Andreas Antonopoulos opinion?
#bitcoin #multisig #asknostr #grownostr
Discussion
He's right but he's also wrong. He's assuming people don't need multisig due to its complex nature. This not correct, people should learn about it, try it out with small amounts and then decide if it's good for them.
They need to understand the risks and benefits. He talks a lot about backups, luckily clients like #SparrowWallet make it extremely easy to make the backups, even during wallet creation.
Completely agree with you! I talked with people using 2-3 multisig and they dont know that they need the 3 pubkeys to restore their wallet. For sure, you need to understand everything you are doing and what you need to store forever, what you can store in a digital platform, etc. But it is true also, that is you dont really want to do the effort to understand well multig, is better use seed words and a passphrase. Right?
Basic/noob self custody setup would be something like OPENDIME or SATSCARD. While playing around with software seed+passphrase.
Required self custody setup would be hardware wallet generated/or dice generated seed+passphrase. COLDCARD, Passport, Jade, and SeedSigner are top-notch options.
Redundancy/multisig self custody setup for those who want to keep seed phrases/hardware in separate locations. Making it harder to spend funds without serious intent.
ALL of these require that the seed phrases AND hardware be properly stored and secured.
#Bitcoin teaches responsibility.
Perfect explained! I cant add anything more.👌