📅 Original date posted:2021-04-09
📝 Original message:Thanks for the detailed response. Just 1 thing I needed to clarify:
> To the list of concerns at the top of the BIP, I would add one: losing multisig setup context. E.g. in the event of a fire where you only recover your steel engraved mnemonic(s), but no longer have the wallet descriptors.
>
> Good point.
>
>
> If you still have all devices and know (or guess) the threshold then BIP48 and sorted_multi descriptors will save you. But if you have a 2-of-3 setup and lost 1 device then without the metadata your coins are lost. In a future with musig(?) and miniscript increasingly the setup data is just as critical as the seeds.
>
> How so? Each signer device should ideally have a copy of the multisig configuration. If you lose 1 device in a 2-of-3, you can still spend from the wallet? Unless I'm missing something here.
I was thinking about a scenario where all devices are destroyed. All you have left are the mnemonics. But indeed if at least one of your devices is still intact AND it has the configuration, you're also good.
But there are plenty of devices out there that can't do this. Those devices can still be useful, even if they can't fully check everything.
Sjors
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Sjors Provoost [ARCHIVE] /
npub1ux…7wq7p
2023-06-07 18:31:15
in reply to nevent1q…a3qk
Author Public Key
npub1uxks6rvrzqljyfp92sffgqypf8fpts0pv2dshvmmnrse76v0avlqy7wq7pPublished at
2023-06-07 18:31:15Event JSON
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"content": "📅 Original date posted:2021-04-09\n📝 Original message:Thanks for the detailed response. Just 1 thing I needed to clarify:\n\n\u003e To the list of concerns at the top of the BIP, I would add one: losing multisig setup context. E.g. in the event of a fire where you only recover your steel engraved mnemonic(s), but no longer have the wallet descriptors.\n\u003e \n\u003e Good point.\n\u003e \n\u003e \n\u003e If you still have all devices and know (or guess) the threshold then BIP48 and sorted_multi descriptors will save you. But if you have a 2-of-3 setup and lost 1 device then without the metadata your coins are lost. In a future with musig(?) and miniscript increasingly the setup data is just as critical as the seeds.\n\u003e \n\u003e How so? Each signer device should ideally have a copy of the multisig configuration. If you lose 1 device in a 2-of-3, you can still spend from the wallet? Unless I'm missing something here.\n\nI was thinking about a scenario where all devices are destroyed. All you have left are the mnemonics. But indeed if at least one of your devices is still intact AND it has the configuration, you're also good.\n\nBut there are plenty of devices out there that can't do this. Those devices can still be useful, even if they can't fully check everything.\n\nSjors\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20210409/7ec8f067/attachment.html\u003e\n-------------- next part --------------\nA non-text attachment was scrubbed...\nName: signature.asc\nType: application/pgp-signature\nSize: 833 bytes\nDesc: Message signed with OpenPGP\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20210409/7ec8f067/attachment.sig\u003e",
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