Self-custody is likely to be important for a church due to the risk of illicit government action (unfortunately). There is a minimum threshold of technical knowledge to do this though, so it may or may not work in every situation. It's going to be very hard to do this if you don't have any trustees able to operate a Tezor for example.
A multi-share backup would be the best way to safeguard the seed phrase if you've got a number of trustees who can be trusted not to lose the shares or hand them over to the first goon who shows up at the door with an FBI badge. You can choose an appropriate threshold to reduce the risk of too many shares being lost while still distributing trust over a sufficient number of hopefully trustworthy people.
You could "get started" with small amounts by appointing a trustee to set up and custody a software wallet for the church, but there's a risk of the trustee being compromised or making a mistake, so a multisig wallet would be best. Blue Wallet is compatible with both iOS and Android and supports multisig, but I haven't used it myself and can't vouch for its security practices.
CypherKnight777
npub17a…2yztv
2024-10-11 15:24:21
in reply to nevent1q…6e5h
Author Public Key
npub17a67xyewa64pw3xxw8fu8tnaz0p42ku2hpp7vvwd5tudlhkr0scsx2yztvPublished at
2024-10-11 15:24:21Event JSON
{
"id": "d2cf958cd4e6e769759a6b71e86f197b8734baad6c1d15cd4a77e43005c6950b",
"pubkey": "f775e3132eeeaa1744c671d3c3ae7d13c3555b8ab843e631cda2f8dfdec37c31",
"created_at": 1728660261,
"kind": 1,
"tags": [
[
"e",
"f17a459289029c8ee3280ba5283e20e518b1ed078e98247fa71027ebb47d2f5e",
"",
"root"
],
[
"p",
"6887fbcaa7e93084da6456e7ece81646f3e750dda479ea622feaec9f8f16d278"
]
],
"content": "Self-custody is likely to be important for a church due to the risk of illicit government action (unfortunately). There is a minimum threshold of technical knowledge to do this though, so it may or may not work in every situation. It's going to be very hard to do this if you don't have any trustees able to operate a Tezor for example.\n\nA multi-share backup would be the best way to safeguard the seed phrase if you've got a number of trustees who can be trusted not to lose the shares or hand them over to the first goon who shows up at the door with an FBI badge. You can choose an appropriate threshold to reduce the risk of too many shares being lost while still distributing trust over a sufficient number of hopefully trustworthy people.\n\nYou could \"get started\" with small amounts by appointing a trustee to set up and custody a software wallet for the church, but there's a risk of the trustee being compromised or making a mistake, so a multisig wallet would be best. Blue Wallet is compatible with both iOS and Android and supports multisig, but I haven't used it myself and can't vouch for its security practices.",
"sig": "ef94cec8b106d4ab72edc8af154420f71e5038221de656657e0d9ecc50144b4516de1347ebc922fccc1943beee4ff3fc58fd8e00b6dc6c9b1c2fe55bbe5bdeba"
}