10 sats \ 0 replies \ @hugohanoi 29 Apr \ parent \ on: Nunchuk releases Finney, a bitcoin wallet for families bitcoin
Does it really sound that weird? haha (I'm a non-native speaker).
Don't people say "coins", "dollars" all the time? i.e. using plural nouns when referring to units of a currency. Why would "bitcoins" be any different?
If you fail to pay, the wallet'd simply downgrade to a free one, with all keys and signing abilities intact. There's just no advanced collaboration features enabled. You'll still be able to sign, export PSBTs, send them to other co-signers to collect signatures (using out-of-band channels such as Signal), broadcast transactions, etc.
And in the absolute worst case where Nunchuk completely disappears for some reason, you can always recover the wallet elsewhere, such as Sparrow: https://nunchuk.io/blog/wallet-recovery-sparrow
The whole thing was designed to never have any single points of failure.
Try our Finney wallet, which we launched recently specifically to address this problem.
If you want, I can set you up with a free Finney wallet to try out.
Full details in our blog post: https://nunchuk.io/blog/finney
What would be a reasonable price to secure generational wealth for you?
For context, in the Western world and increasingly in developing countries as well, a lot of people spend more per year on entertainment (coffees, movies, etc.) than $250 (which is about ~ $20/month). I personally think it's reasonable, considering that securing your long term savings should be more important than those things?
Casa's inheritance protocol has many similarities with Nunchuk's, with some key differences.
I wrote a review / comparison here, for anyone who's interested: https://nunchuk.io/blog/casa
Yes, it is one of the biggest weaknesses in Casa's design: too much trust is required for the Casa app, particularly the mobile key generated by the Casa app.
What's ironic is that they've somehow turned this weakness into a feature: leveraging the mobile key for an "easy-to-use" inheritance protocol. An aspect that used to require trust, now would require even more trust. What Casa should have done, is to address the weakness of the mobile key head-on, instead of building more features on top of it.
IMO the design is not safe for long-term savings.
I wrote a full review of Casa's inheritance protocol here: https://nunchuk.io/blog/casa
You got it mostly correct the first time.
So it’s the Claimant unlocking their Tapigner locally, signing a PSBT, then Nunchuk adding its key to comprise the 2 of 3 for transfer of fund and initiate the send?
- Encrypted file downloaded onto Beneficiary's device
- Decryption happens locally
- Recovered Tapsigner's private key now is in Beneficiary's device
- Beneficiary selects a withdrawal address
- Sweep transaction is created
- Beneficiary signs the sweep transaction with the recovered Tapsigner key
- Platform Key co-signs the sweep transaction
- Sweep transaction is broadcast
You can test this flow out on testnet for free by the way.
The decryption process happens entirely locally on the claimant's device. At no point in time Nunchuk possesses two keys.
Thanks for sharing @kr !
This is something that we at Nunchuk have been working towards for the last few years: collaborative custody platform-as-a-service. Took a while to get here, but so glad we’re finally able to share it with the world.
The basic idea is that anyone with key management expertise can now start a collaborative custody business for your community/network. Nunchuk provides you with the multisig infrastructure, collaboration/advisory tools, technical manuals, etc. And you take care of the customer service, onboarding, and managing backup keys on behalf of the end users.
Collaborative custody mitigates so many challenges w.r.t. self custody. It can offer education, technical guidance, and robust long-term security. It can elegantly solve the inheritance problem. So we really hope to see this model taking off in the wild.
Anyway, I’m here if anyone has any questions.
An interesting comparison is to look at how long it took gold to be accepted, in various human eras, since both Bitcoin and gold are emergent monies (unlike fiat). Keep in mind, gold had a 5,000 years head start.
Granted, information travels much faster now with the Internet. But I think 10-15 years is still on the overly optimistic side. Bitcoin probably needs to be tested a few more times in crisis situations. People need to see how it holds up against other currencies with their own eyes, and learn the hard way not to bet against it, again and again and again. Only then it will be widely accepted.
I'd give it 30-50 years. In 50 years, the majority of people alive would have been born After Bitcoin (AB).
(And even after that, it still might not count as a "failure").
60 sats \ 2 replies \ @hugohanoi 7 Aug 2023 \ parent \ on: Why isn’t Nunchuck talked about more? bitcoin
I wonder if it was due to a corrupt DB setting caused by an older app version, and now it's stuck in the OFF state.
If you have everything properly backed up, maybe try doing an uninstall + reinstall. Or you can also try it on a different iPhone.
Hmm that's definitely very strange.
Just to be clear, are you or are you not able to enable the wallet PIN? I assume no since the setting reverts back to OFF?
10 sats \ 0 replies \ @hugohanoi 7 Aug 2023 \ parent \ on: Why isn’t Nunchuck talked about more? bitcoin
It's nunchuk.io (without the 'c'), btw :)