there is no such thing as a private collaborative multisig fwiw
privacy & sovereignty are inherently at odds with any collaborative or custodial Bitcoin setup.
price you pay for convenience. evaluate the tradeoffs š¤
Discussion
š
it's not unilateral exit. āEmergency Exit Kitā isnāt what it sounds like. itās not a normal backup or recovery method, itās a proprietary workaround.
it only works if you still have both keys (phone & hardware) and if you can run custom Android app (doesnāt work on iOS. you need to sideload an Android app just to recover.) from GitHub to decrypt a PDF they stored in your cloud.
lose your hardware, and itās useless.
lose access to your cloud account, also useless.
if the GitHub tool changes, breaks, or disappears, useless.
you canāt import it into Sparrow, Specter, or any other standard wallet. itās a closed system that depends on Blockās format, their GitHub code, and your specific device.
thatās not a standard or trustless exit, itās a walled-garden escape hatch for when their infrastructure dies.
real self-custody means seed words, open standards, wallet hardware/software interoperability, and no dependency on anyoneās servers or proprietary software.
the EEK is clever engineering, but itās not self-sovereign Bitcoin custody.
Hey I was gonna go collaborative but am now leaning towards setting up multisig myself. When you setup a multisig, do you backup all three seeds on steel? Backups give you something to fall back on but also a larger attack surfaceā¦ trying to decide what to do. Curious what others recommend
yes. practice practice with small amounts. Try passphrase as well (2/2). When youāre comfortable try 2/3 and make sure you restore / threat model
