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0 sats \ 1 reply \ @Oxjogir OP 8 Feb 2023 \ parent \ on: Why Multi Sig? Why not a Passphrase? bitcoin
Thats a good point, regarding how much exposure you have it might be a good idea to have a multi location Multi Sig. However, with plebs with Multi Sig wallets, the odds that they have a multi location safe split across countries are quite minimal.
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0 sats \ 0 replies \ @orthwyrm 8 Feb 2023
Agreed. If you only have 1-2 safe locations, either seed + passphrase or a 2-of-3 collaborative custody model might make more sense.
For the record, I actually use a seed + passphrase. I have metal backups of each in two different locations. The passphrase I also have memorized, and the seed also in a hardware wallet (so two backups each). I figured this was robust enough for my circumstances, and I like the ease of recovery and plausible deniability that passphrases offer.
If my ownership of bitcoin were to become widely known (say an exchange hack), I'd upgrade to multi-sig.
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