MariusFebruary on Nostr: Think of the following: You store your stack on a 3-of-5 (of 7-of-12 or n-of-m) ...
Think of the following: You store your stack on a 3-of-5 (of 7-of-12 or n-of-m) multi-sig. You choose multiple signing devices (Coldcard, Bitbox, Jade, Trezor, perhaps even a Ledger 😬 ). You write it all down for your heirs, meet a guru who convinces you to change your life, and retire to a Buddhist monastery. Twenty years later, your heirs call you M.P.D. and attempt to recover the Bitcoin. 1 BTC is 1.5 million USD by now, and fees are 1000 USD for a simple single-sig one-utxo input transaction. Ledger has been liquidated, and Trezor has been sold to Microsoft (now requires full KYC/AML background check). All devices require firmware upgrades. Handwriting everything your heirs need to recover the funds is a great exercise. If you can't write it, they can execute it. This simple exercise made me simplify my setup.
Published at
2024-04-07 20:24:39Event JSON
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"content": "Think of the following: You store your stack on a 3-of-5 (of 7-of-12 or n-of-m) multi-sig. You choose multiple signing devices (Coldcard, Bitbox, Jade, Trezor, perhaps even a Ledger 😬 ). You write it all down for your heirs, meet a guru who convinces you to change your life, and retire to a Buddhist monastery. Twenty years later, your heirs call you M.P.D. and attempt to recover the Bitcoin. 1 BTC is 1.5 million USD by now, and fees are 1000 USD for a simple single-sig one-utxo input transaction. Ledger has been liquidated, and Trezor has been sold to Microsoft (now requires full KYC/AML background check). All devices require firmware upgrades. Handwriting everything your heirs need to recover the funds is a great exercise. If you can't write it, they can execute it. This simple exercise made me simplify my setup.",
"sig": "90c344cd8234d0658ecd030a23121af8c9ac31acb30bf199d6e3ba349f9379b2c63813728c39b0b261ff0e83885179882eb735ac12a27f9176942d696d3581f3"
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