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Laser 2y ago

#Multisig is costly to maintain.

- Verifying and upgrading signer firmware.

- Backing up essential multisig metadata.

- Maintaining dedicated node/coordinator.

#Bitcoin

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Alex71btc⚡💜₿🚀 2y ago

No costs with @seedsigner and nunchuk.io

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Laser 2y ago

You don't have to maintain your seed signer firmware? You don't have to maintain a node?

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Alex71btc⚡💜₿🚀 2y ago

My node is not so much work, update from time to time, liquidity distributes quite nice since I have more channels running... seedsigner works perfect even if not updated.

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Omekau 2y ago

Is verifying and upgrading signer firmware relevant if you backup the seed phrases and the metadata?

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Laser 2y ago

It's important to not allow your signers to fall behind too far.

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Omekau 2y ago

Hm, why’s that though? Aren’t the signing devices storing keys derived from the seed phrases of the multisig? And if you have the essential metadata for the multisig, you could theoretically only store the essential metadata and the n number of seed phrases and in the future get new signing devices with keys generated from imputing the seed phrases to then sign a multisig transaction.

Unless I’m misunderstanding something?

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Omekau 2y ago

Side note, currently drinking Gerolsteiner after I saw you recommended it. I give it a 👍

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Laser 2y ago

💪💪💪

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B.O.P 2y ago

Since Bitcoin doesn’t hard fork does this really matter? The same firmware should work 3 years ago and this year on the Bitcoin network. Honest question since I haven’t updated firmware in probably 6 months plus

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B.O.P 2y ago

Node firmware makes sense to me, I run the most recent version of umbrel and core