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Dr. Bitcoin, MD 5d ago đź’¬ 4

This is kind of a big deal, and something I need to learn more about…

nostr:npub1tkey6tcfk0jf2ageje7xvqnnph4443h4pc4aqesuqjeywyke073qfmwral hardware wallet (of nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m fame) now has some privacy preserving functionality that still permits collaborative multisig https://bitkey.build/not-our-keys-not-our-business/

Curious what exactly this means and if my all time favorite nostr:npub1casacasahesdrpu6npfth2t0ae37a2cdwwg3c4fkt30v7gzffx3q7wtzdc could implement this… nostr:npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tp

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Dr. Bitcoin, MD 5d ago

I also just learned @bitkey has an inheritance feature. So much to learn, so little time…maybe nostr:npub1az9xj85cmxv8e9j9y80lvqp97crsqdu2fpu3srwthd99qfu9qsgstam8y8 has thoughts on the inheritance problem? Privacy and inheritance and KISS are a tough mix.

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DETERMINISTIC OPTIMISM 🌞 5d ago

Though mix, but bitkey is not ok for real money.

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Dr. Bitcoin, MD 4d ago

I’d agree, but most people don’t have real money though. Or at least most people won’t store substantial sums in bitcoin, at least for the near future.

I landed on Bitkey for my nephew…he’s 14 and struggling to understand the finer concepts of digital security (he literally SMS texted his 12 word seed phrase from the Blockstream wallet from his mom’s phone to his new phone…some people, perhaps most people, shouldn’t be allowed to see seed phrases!)

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Dr. Bitcoin, MD 5d ago

Oh, this is clever. https://delvingbitcoin.org/t/chain-code-delegation-private-access-control-for-bitcoin-keys/1837

I feel like something similar could be achieved using standard multisig setup but picking random keypaths for each change address (and keeping track of keypath per change output…which could be easily done with a deterministic way just like the original idea behind keypaths).

Could a custodian see every transaction? Yeah, but they’d have a few hundred million or billion keys to check…which isn’t as good on a privacy scale as the scalar tweak, I presume.