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0 sats \ 0 replies \ @DarthCoin 7 Feb 2023 \ on: Why Multi Sig? Why not a Passphrase? bitcoin
Consider this:
A company that accept BTC. The accounting and security of those BTC, must be in a multisig, when is about to be spend / moved etc.
To accept BTC as a company is easy, today we have many tools as "invoice-only", "watch-only", "receive-only".
But when is about to spend those BTC is hard to trust people with only one key to those wallets. And we are talking here about maaaaany BTC, not just few sats.
MultiSig is very good for these companies, where access to BTC stash is necessary to be done by multiple individuals / users.
For a simple user, holding his meaningless 100k sats in a wallet it DOESN'T MAKE SENSE a multisig scenario.