Replying to Avatar Abstract Equilibrium

If you have a trusted person back home who you can communicate with from your destination, multisig is how to travel!

2 of 2 wallet, with a 1 of 2 time lock. You bring a key, they keep a key. You arrive, coordinate the PSBTs, and spend the keys out to your own wallet to go from there.

If your key is compromised, you'll need to wait for the timelock, and then have your trusted person send them unilaterally to your new wallet, and go from there.

"Trusted" is the super duper important keyword here. You need to trust the person you enlist to work through it with you. They'll know your balance, and technically they can steal your coins.

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Juraj 2y ago

Why not passphrase and decoy wallets? Seems easier.

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Abstract Equilibrium 2y ago

If you get detained or worse, the BTC is cut off. If you do the multisig, your trusted partner can still access the funds, either as an heir, or to support any issues you might run into. In general, I don't like recommending people go at it alone when large amounts or high stakes are involved.

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Juraj 2y ago

Shamir backed up seed of course.

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Abstract Equilibrium 2y ago

There's practically no difference for this case, and Shamir doesn't support tinelocks for other uses like inheritance, or other advanced scripting features like decaying multisig quorums. Also, in the world we're trying to get to, where everyone ideally controls a personal private seed (and BIP85 child seeds), why bother sending them a shard of a single key in addition?