is 2025 when the first major us player makes bitcoin payments - consumer and merchants - available to the mass market? make some noise and we'll see what happens ;-)
too late for that, already swallowed that pill.
as mentioned it leverages 2-of-3 multisig model with a time-delayed execution enforced by server-side policies. during setup, the benefactor designates a beneficiary and an encrypted backup of their mobile key is stored using a data encryption key secured via spake2-authenticated channels. the encrypted inheritance package is uploaded to bitkey's infrastructure and linked to the beneficiary’s account but remains inaccessible until claim execution.
when the beneficiary initiates a claim, bitkey enforces a 6-month delay period, during which the benefactor can cancel the request. the claim process requires rotating the recovery authentication key and verifying ownership via multi-channel authentication. after the delay expires, the system releases the encrypted mobile key backup which the beneficiary decrypts using their authentication credentials. the beneficiary then generates a partially signed bitcoin transaction, signs it and submits it for co-signing by bitkey’s server key which is completing the 2-of-3 multisig requirement. the signed transaction is then broadcasted to transfer funds to the beneficiary's wallet.
yes, the beneficiary has to sign with their key to receive the funds as part of bitkey’s 2-of-3 multisig model, where transactions require two signatures from the mobile app, hardware device, or bitkey’s server. if the beneficiary lacks full access, they can trigger a delay and notify recovery, which enforces a waiting period before bitkey co-signs the transfer.
bitcoin is freedom. bitkey makes self-custody simple. hardware + app. inheritance feature live now! true ownership belongs to everyone.
https://bitkey.build/inheritance-simplifying-the-transfer-of-bitcoin-to-future-generations/
Thank you nostr:nprofile1qqswyru28qavtc2nvcgpc9sgae8n875t94uj2r8t9ddg4w4y899xulqcupzcu for having me at @PresidioBitcoin - such a wonderful bitcoin builder space! nostr:nprofile1qqsgq37lnqdf0h2pkj842jkqp6gt6c353ln98pxg3mefqvkh22zhzscj826jm
bitcoin engineering bitcoinjob
head of lightning at block
https://block.xyz/careers/jobs/4499388008
senior staff engineer to build next gen payment rails
https://block.xyz/careers/jobs/4408046008
flexible about location within canada or usa #remote - repost and share. hit me with questions if you have any. we have more jobs for operations and product management as well. will post them soon.
based. on top, writing creates clarity.
what is one thing you wish a bitcoin wallet had that you haven't found well-done in any bitcoin wallet yet?
let me guess - it’s in canada? 🇨🇦
only one purpose: accelerate bitcoin as the open money protocol
stablecoin on bitcoin.
net-positive or net-negative? why?
open source is winning