Topic: Multi sig solution for business clients and coin inheritance - page 3. (Read 595 times)

I am not married yet though so i don't know much about married life. I wish to get as lucky as you  when the time is ripe. But how about cases where a family business accepts Bitcoin will we kick against this multi-sig as well. I know trust is most important in marriage and any relationship but will it be extended in business as well?


Are we then saying the security multi-sig wallets offer aren't worth any stress?. How about organizations, businesses or joint investment will we still recommend single key addresses?

If a family member is willing to murder you to steal your coins, then they are definitely also willing to murder you plus one other person to steal your multi-sig coins. Or simply hit you with a wrench until you crack and reveal the location of your other back ups, or phone up your other family members and have them hand over their shares, or unlock the multiple devices/wallets you have to spend your multi-sig coins, etc.

Multi-sig or no multi-sig, either you hand over your coins or you die. The only protection against physical attacks on your person is plausible deniability.

By creating a multi-sig wallet and handing out shares, you are advertising the very existence of that wallet. If you are this concerned about physical attacks, then you need a hidden wallet that nobody knows about, probably created by utilizing a passphrase on top of an existing wallet's seed phrase.

My wife uses my cards too, since she does most of the shopping while I'm working.
So if she wants to "mismanage" funds, she already can

There's indeed an evil world, but ... maybe it's not as bad as in the news after all. I mean if one doesn't trust his wife, why would they stay under the same roof at all? As I said, keep it simple

I don't know, maybe Bitcoin price would have to grow much much more to make me get paranoid also about my family. For now it's not the case.

How about cases of funds mismanagement or situation where a member of my family wants me dead just to have full custody of the coin. We live in an evil world where different things happen as we keep advancing. In as much as i trust my family member i think securing both my future and theirs should also be considered

Multiple thread different information....
I saw them before i made this

Multisig has many good uses, but imho using multisig for when I am dead means that I don't trust my family enough.
So while I do care what happens with my coins after I am gone, I consider that the fact my family knows where I keep one of the seed backups is just fine. Why would I make it more complicated?!

Already there were more threads discussing about the same thing. Maybe going through those threads will get you better information regarding the same. Everything has been filed and it is with my girl. She doesn't know I have kept the recovery seeds secure on her space. Someday when it is required she'll come to know about it. She already knew how to use wallets as well as recover funds.

What happens to the coins after your death ?
What happens with my crypto when I die?
What Happens to One's Bitcoin if Death Occurs?

I’ve put my recovery seed of my trezor and instructions with other valuables

Should do the trick 

My wife knows how to access my bitcoin & I will teach my son when he is old enough. I know what I’m doing & will not trust anybody else to custody anything for me. I do not like multisig myself.

i have heard several persons who say they are nervous about how the go about their private key, while this set of folks use single-key addresses to get their own self-custody to store family coin or personal coin in a form of UXTOs, they intend investing for their future generations and keep their coins out of centralizations . Most times the biggest fear that comes with this single signature solution is the inability to retrieve your funds if the  private key got misplaced or in situation of death when no one else know about your private key.

With multi-sig wallets created a year after multi signature was introduced in bitcoin in 2012. A powerful tool such as multi-signature brought extra security for bitcoin investors with more than one signature which could be two or more signature attached to an address, which will require funds to be spent only if multiple signatures are provided a very good tool for long term investment and access to funds in cases where on dies because since more than one signature exist it will be more easy to relay detail of the other signature to a trusted family member.

With multi-sig address comes different private-keys to help safe-guard funds so that even if one of the keys get stolen it will be difficult to withdraw or move the coin since it takes 2 of the 3 signatures in a 2 of 3multi sig address to move the coin and only one is available. Multi sig is also good for businesses as well as co-operations, unions and organizations to ensure security and good decision making where by a number of persons hold each a single key making mismanagement of funds even more difficult.

Although with this comes some difficult and complex set-up especially if a third-party provider is needed but in general it is a cool and secure wallet because there is no legal custodian of funds deposited into a shared wallet with multiple keyholders.


example of multi-sig wallet:

• Blue wallet
• sparrow

how to set-up the wallets loading.........