Can someone do me a solid and explain this short AAntonop vid where he says that in a, say, 2 of 3 multi-sig you can spend w/ 2 signatures, but if you lose any one of the 3 you lose your Bitcoin…?
Discussion
I think this the info you’re looking for.
Basically, if you have a created wallet, then you can use two of three private keys to sign the transaction.
But what if you don’t have the wallet? You need to create it. You need more than just two keys to recreate the wallet. I think in electrum you need the third public key to create it. I understand that wallets are now standardizing with “output descriptors” to make wallet recreation easier. Always practice creating and deleting and then recreating a wallet before you put meaningful value in it.