Replying to Avatar PeakyBTC

Good points. A hypothetical from a friend:

“I use the same multisig wallet for my sisters stash, brothers stash, and my stash. I do this because they don’t understand how to set up a cold wallet. I’m the only one who knows how to sign transactions. So what I do, is have 1 address for each person. That way we don’t have to track tons of different addresses with different amounts, and decide who’s is who’s”

Thoughts?
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Felix 1y ago

Doesn't sound very great convenient.

A cleaner solution would be (imho) to use a master seed (maybe with passphrase), then bip85 derive seeds for each person, then give them either the seed or the xpub. This is easily done with a coldcard for example.

So he can control everything with his seed but there is clear separation and no address reuse.

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