Topic: MultiSig Large Transactions: 2 of 2, or 2 of 3? Which is safer? (Read 362 times)
i presume that another good thign about the 2-2 is that it will require less space on the block, i don't use either of those, but they are good for escrow purpose
It seems that 2 of 3 is far more popular than 2 of 2 for Multi-Sig transactions. Am I the only one who sees 2 of 3 to be inherently risky, and almost pointless?
When dealing with very large quantities of bitcoins, I could imagine the ethicacy of the mediator to go out the window very easily at a simple hefty bribe. Whereas with a 2 of 2 transaction, the worst that can happen is the coins don't go anywhere, which really benefits neither party. The only time I can see that happening is if one of the parties gets very spiteful, but in a professional scenario, I see the chances of that happening being far less likely than if a mediator was bribed in a 2 of 3 scenario.
What do you think?
When dealing with very large quantities of bitcoins, I could imagine the ethicacy of the mediator to go out the window very easily at a simple hefty bribe. Whereas with a 2 of 2 transaction, the worst that can happen is the coins don't go anywhere, which really benefits neither party. The only time I can see that happening is if one of the parties gets very spiteful, but in a professional scenario, I see the chances of that happening being far less likely than if a mediator was bribed in a 2 of 3 scenario.
What do you think?
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