Make multisig address not danger? | Bitcointalksearch.org

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legendary

Activity: 2086

Merit: 4361

Quote from: wsxdrfv on July 15, 2018, 07:12:45 PM

Someone propose that I make getnewaddress and dumpprivkey that address,
he will do same at his wallet, and we exchange each other's privkey generated from above, then importprivkey.
and if I input coin to there, that become multisig, both signing need and safe.

Is this true?

No... it is not true.

Quote

No scam factor here?

Either they don't understand how MultiSig works... or they're trying to scam you.

MultiSig addresses are created using "public" keys... not private keys. refer: https://en.bitcoin.it/wiki/Multisignature#Creating_a_Multisignature_Address_with_Bitcoin-Qt

There is also an example of a 2-of-3 MultiSig here: https://gist.github.com/gavinandresen/3966071

ra213

member

Activity: 294

Merit: 10

NEVER share your private keys.

If you want to use a multisig address you will need a wallet that supports this function and create a dedicated address / wallet for this. The most famous and easy wallet is probably electum. You can also start the wallet in testnet mode to create a multisig address and get used to it.

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: wsxdrfv on July 15, 2018, 07:12:45 PM

Someone propose that I make getnewaddress and dumpprivkey that address,

he will do same at his wallet, and we exchange each other's privkey generated from above, then importprivkey.

and if I input coin to there, that become multisig, both signing need and safe.

Is this true?

No scam factor here?

That is not how multisig is done. Do not share private keys. If you give someone a private key, then they can spend the bitcoins at its address.

Multisig is done like this:
1. One person creates a transaction and signs it, and then sends the signed transaction to the other person.
2. The other person also signs the transaction, and then broadcasts it to the network.

vit05

hero member

Activity: 672

Merit: 526

But what is the context of this, why would you need to create one? Are you negotiating with him? Multisig wallets are widely used, including on exchanges and on web markets that use BTC as a currency. A multisig wallet is not necessarily a scam. But it all depends on how you will use.
I believe the most practical and secure way to create one is by using Electrum on Tails OS. Here is a step-by-step tutorial.

If you will use to negotiate with someone, the ideal is to add a third person who would act as Escrow.

wsxdrfv

jr. member

Activity: 413

Merit: 5

Someone propose that I make getnewaddress and dumpprivkey that address,

he will do same at his wallet, and we exchange each other's privkey generated from above, then importprivkey.

and if I input coin to there, that become multisig, both signing need and safe.

Is this true?

No scam factor here?

Topic: Make multisig address not danger? (Read 203 times)