frostdragon on Nostr: Hot take: setting up a collaborative custody multisig vault with a third party like ...

Hot take: setting up a collaborative custody multisig vault with a third party like Unchained is WAY simpler and more foolproof for most people that singlesig + passphrase.

By “most people”, I do actually mean the non-tech savvy people. People who use the same password base for everything. People who haven’t owned a computer since they left their parents’ house. People who don’t know to check a link before clicking it.

It takes minimum intentionality, which inherently gives you a basic understanding of how private keys should be handled. People that go through that basic process will be SIGNIFICANTLY less likely to lose their keys. Meanwhile, it’s super easy for singlesig + passphrase setup to be mindless, and way more people are going to lose access to their wallet in that config than those with collaborative custody multisig.