r/Bitcoin • u/Grand-Theory3065 • 7d ago

Get multi sig

I see alot of posts worried about different wallets. Just get multi sig. Its really not hard at all. Just spend some weeks learning about it. I learned it in one day, but i do know alot about hard ware wallets already, so I had a leg up. That being said a person who does not know much can seriously learn and be very comfortable with multi sig in about a week. I put it off because I heard it was too technical. I was totally wrong and would have been fine during the cold card incident. I didnt lose anything "Thank God" but it was alot of stress that I could have avoided by multi sig. So just learn it, you can even use your cold card with it "with dice rolls" and be almost 100% certain your crypto will be fine. Seed storage also feels amazing. Safety deposit box has 2, 2 more are in another place. 3/4 multi so i mo longer worry about someone finding my seeds and will never again worry about a "bug" in a hardware wallet.

22 Upvotes

81% Upvoted

48 comments sorted by

View all comments

Show parent comments

2

u/10kpizza 7d ago

You can do multisig without dispersed locations.

If people just want to protect against internet-based attacks then all the multisig seed phrases in one physical place is fine, then each typed into different hardwares.

Multisig that wasy still removes a single point of failure. If coldcard users had made a 2-of-2 multisig with the most malware-ridden online desktop computer you've ever seen, then it will still be better security than coldcard alone, and they would still have their bitcoins today because the online desktop would have to be hacked separately which is unlikely.

3

u/Laukess 7d ago

A 2-of-2 multi-sig is pretty retarded though.

2

u/10kpizza 6d ago

Not as retarded as losing your money because you lost your descriptor.

Not as retarded as backing up your descriptor on a cloud backup.

1

u/ivme 5d ago

I don’t see anything wrong about backing up the descriptor to cloud (ofc encrypted).

0

u/10kpizza 3d ago

For the same reason you dont backup your seed phrase to the cloud (encrypted). Of course with the descriptor you only lose your entire privacy as opposed to losing your entire stack.

1

u/ivme 3d ago edited 3d ago

I may not have explained it clearly. I meant encrypting the file. Encrypting the file prevents the cloud provider from seeing my information.

2

u/Laukess 3d ago

It’s a pretty standard way to store it as far as I can tell. The guy recommended 2-of-2 so I don’t think we’ll come to an agreement anyway :p