LazyNinja on Nostr: On Twitter there were some terrible takes on self custody and single vs multi sig. It ...
On Twitter there were some terrible takes on self custody and single vs multi sig.
It looks like many misunderstand the trade offs between single and multi sig.
Interesting points to consider:
1. Its possible to have single sig collaborative custody 🤯
2. You can have m of n secrets to sign with single sig just like multi 🤯
The important difference between them is with single sig all the secrets need to come together and be put on a device you need to trust 100%.
With single sig you should never use anything but a high quality well known hardware wallet (signer). You should treat the signer carefully keeping it from physical access of others and keeping the sw updated and verified.
If you do this single sig can preserve your wealth for generations.
Published at
2024-12-28 16:53:36Event JSON
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"pubkey": "ff444d454bc6ba2c16abdfd843124e6ad494297cf424fa81fb0604a24ee188e2",
"created_at": 1735404816,
"kind": 1,
"tags": [
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"imeta",
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"content": "On Twitter there were some terrible takes on self custody and single vs multi sig.\n\nIt looks like many misunderstand the trade offs between single and multi sig.\n\nInteresting points to consider:\n1. Its possible to have single sig collaborative custody 🤯\n2. You can have m of n secrets to sign with single sig just like multi 🤯\n\nThe important difference between them is with single sig all the secrets need to come together and be put on a device you need to trust 100%.\n\nWith single sig you should never use anything but a high quality well known hardware wallet (signer). You should treat the signer carefully keeping it from physical access of others and keeping the sw updated and verified.\n\nIf you do this single sig can preserve your wealth for generations.\n\n\nhttps://m.primal.net/NJVP.png\n",
"sig": "45f0dcb91e3e64ddcf020c7e72e79feed114fc01876c628aa7f01d3c6ec41881cce37e841b9074f4a9a80df2898fd5fc7498aa6bcaa760f0768a19a970f08bdb"
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