GM! If you use a 2 of 3 collaborative multisig like Unchained someone can just show up at your house, force you to submit a transaction*, and sit with you for a day until it’s processed and they have all your bitcoins. This setup is not half as robust as people like to think.
*99% of people keep at least one key at home and can ask for the custodian to sign for a second, and if you think video verification will save you then you’re dreaming.
Hopefully there’s a distress word set up in advance you can use to signal the problem.
GM hadn't thought about it. recommendations to counter? Not that I have any BTC to take I sold it all when it dipped
Non KYC options like Nunchuk or Casa. For more advanced users Liana offers advanced timelock based security.
Unchained is still quite safe overall and presents a strong deterrent. However people treat it like it’s impregnable and that’s just not the case. I don’t want by life savings doxed in database next to my wallet descriptor and home address. That’s just unwise imho.
Transactions on Unchained take 3-5 days (not that I have personal knowledge or anything).
No matter what your setup is, an attacker who can kidnap you for 3-5 days is going to be able to exert a lot of pressure on it.
I somewhat agree with a few caveats:
1) it often doesn’t take 3-5 days. Even per their website “Note: It can take up to three business days for Unchained to sign.” I have spoken with multiple folks who had a transaction go through in less than 48 hours. That’s scary. Not having a specified minimum time interval is in and of itself worrisome.
2)For tens or hundreds of Bitcoin bad guys could certainly sit with you for few days, lock you in your basement, kidnap a family member or pet, or even a desperate government could throw you in jail, etc. Important to keep in mind you have to dox yourself to use their product versus other options where you don’t. So your a hacked database away from this being public. Personally I would assume that’s inevitable as that’s just the consistent pattern with KYC data. It’s 100% strictly better than an ETF, but I think it’s problematic how people treat it like it’s impregnable.
