For those that are running multi-sig setups, what kinds of locations are you using to store your keys?
How far apart geographically are you seperating? Are you asking friends/family to store them? Using storage units or safety deposit boxes?
I am having a hard time figuring out the best way to do it.
#asknostr
Careful, increased complexity and difficulty of recovery in the event an emergency are some overlooked tradeoffs of multi sig. For most imo multi sig is unnecessary / overkill.
Oh, you gotta put one in China, 1 in America and 1 in Russia.
I'm not sure I would bother... If I had THAT much BTC, I would be going with something like anchor watch or split custody with only a fraction of the stack with a trusted solution like bitkey or ledger recover. If you are not managing all the keys yourself then you are trusting someone along the way. If you are managing all your keys, then why have multiple anyways? You could even consider splitting your stack into smaller stacks with single keys for parts of the stack. Manage multiple keys without multisig. I don't think there's anything inherently more secure just because you have more keys. It just makes it more complex and more likely to lose funds when you fuck up. Multisig imo is more for complicated spending schemes and enables things like the lightning network. One key in a safe is just as secure if not more secure than multiple keys in multiple safes, especially if you're trusting someone else's safe.
Ya, this makes sense to me. Perhaps I will move to just single sig after all
Antonopoulos puts it the best. Individuals don't need two of three spending authority. Individuals should just need redundancy. So back up your single key multiple places.
Ya, my biggest concern is making sure my stack is recoverable by family. So, our current is in collab custody, but I definitely worry about the complexity there.
I really like what Bitkey is doing, but since they started moving away from seed phrases, I got a little skeptical.
Just make sure your family knows where your 12 words are. Simple.
Another comment that believes multi-sig is over complicating things and it’s useful mostly for organizations with multiple partners (or shared among many ppl, you get the idea)
Like other said single sig + passphrase is enough. You could also do multiple passphrase linked to single sig not to put everything in one!
