What security is there? My point is that this does not provide any realistic security benefit, except the illusion of it.
Discussion
What is the benefit of PIN + passphrase, when the HWW could keep the passphrase and you have a longer PIN instead? This means:
- You can store your passphrase more securely as you do not need to reach for it every time (just like your seed!)
- PIN attempt counters are more secure compared to a passphrase that is "convenient", as you can brute force passphrases without limit
Because the value proposition of a passphrase is the separation from the seed. If the seed is found (i dunno like on a SeedQR you left laying around because you seem to have a blindspot about Seedsigners) then the Passphrase is the last line of defense.
A gun to the head you will give the pin number. If you don't have the passphrase they can't access the wallet.
A gun to the head will also make you spill your passphrase
Not if it's in a different location.
You could keep your PIN in another location. Or use a 2-of-2, which is the exact same thing.
Yeah, you could... or you could have a decoy pin.
But if I were the one pointing the gun to the head I wouldn't believe that at all. A pin is something you remember, a strong passphrase is not.
A decoy PIN would fix this. A 2-of-2 would as well to some extent.
It does not matter what they believe, because if they want to kill you, they probably will.
I think saying the passphrase is in another location is a valid excuse to a gun to the head