I love the Block team and they’re making reasonable trade offs on the Bitkey for a totally noob user with small funds. However for anyone who has a decent sized stack and is not a noob I believe it’s the wrong set of trade offs. In the Bitkey model effectively you have two hot keys (phone and key server) which is a big trade off even if it’s source viewable (it is not FOSS), and your hardware wallet has no screen so you could easily approve a transfer to an address other than you intended if someone has hijacked your phone and what appears on its screen. The Bitkey is a $150 glorified yubikey. This is fine for noobs and small amounts, I would not trust with large amounts. It’s great for mitigating some basic theft and loss of key scenarios, but beyond that is quite limited. Hopefully in future iterations we get FROST and other enhancements.
Discussion
We need frost yesterday
FrostSnap sounds like it is close:
Hopefully that proves out, at least a very exciting project
I remember seeing a demo video from them a while ago, honestly forgot about it. Interested to see how that proves out.
Yeah FROST is very exciting, especially for Nostr. I would say though even “basic” Bitcoin multisig with hardware wallets from multiple vendors is still an amazing option.
Incidentally, this is also a flaw with the default Casa multisig setup.