Replying to Avatar QnA

Good Morning Nostr 🧡⚡

You might feel like a super hacker man with your secure self sovereign geographically distributed multisig setup. But I can assure you your wife likely won't if you unfortunately find yourself on the wrong end of a bus.

Inheritance matters. Keep it simple stupid.

The recent push for 'multisig the standard' is a dangerous one, but the reasons for which are pretty obvious for anyone with a shred of critical thinking 😆

What are your thoughts?

#AskNostr
79
Duvel 2y ago

Very true. Not keeping it simple increases the probability of losing your funds. I think we ourselves are the greatest threat factor.

I find the multiple backups difficult. If you have kyc bitcoin and non-kyc bitcoin e.g. on different hardware wallets, including a passphrase and 2 backups of everything, rhen you need to backup 8 pieces of information of 8 locations. That's too much. How arw you dealing with this?

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QnA 2y ago

You could have everything on a single hardware wallet and segregate via accounts. That would halve your backup requirements.

79
Duvel 2y ago

It doesn't matter for privcy to keep kyc and non-kyc bitcoin on the same hardware wallet seggregated via accounts?

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QnA 2y ago

Nope. The account structure means that they can't be spent together easily. The only privacy risk is seed being compromised, but at that stage you've got bigger problems!