America, fuck yeah!
Comin' again to save the motherfuckin' day, yeah
America (Fuck yeah!)
Freedom is the only way, yeah
Terrorists, your game is through
'Cause now you have to answer to
America (Fuck yeah!)
So lick my butt and suck on my balls
America (Fuck yeah!)
What you gonna do when we come for you now?
decoy wallets or duress pins are tricky. If someone targets you because they think you have a lot of money, and you give them a wallet with $20k in it, are they really going to think they got all the money? If the know about duress pins on hardware wallets and you DO give them all the money, are they convinced?
Yeah like all security questions this comes down 100% to the individual's threat model.
For me it's enough to have a decoy or even just claim that the Lightning wallets on my phone are all the BTC I have because I'm just some unknown random guy who talks about Bitcoin. I don't tell anyone how much I have and I'm not especially wealthy or notable in any way.
If on the other hand I was a wealthy high profile bitcoiner who spoke at conferences etc, no this would not work and I'd probably use one of those cold storage services that holds BTC in underground airgapped servers or something.
And of course there's plenty of middleground options between those two extremes for various other threat models.
There's truthfully no one single answer here - it depends entirely on your threat model.
One way would be to have two mnemonic passwords. The first one would unlock a small amount (that your attackers would presumably accept, unless they happen to know you have way more), and you would keep the second one to yourself
It would be cool if there was a way to make it so you have a 12 word key and one password makes it give you one wallet and the other, another, I'm not sure, actually, I think since private keys are just 32 bytes it's just a matter of trying two passwords on one byte stream from a word key and checking that both generate valid EC coordinates. Put some decoy sats in one of a small amount and the other has the real money.
A password modulates a seed phrase, and it becomes and entirely new wallet. You might as well think of it as a 13th seed word. So yes, you can have one “password” for one wallet and another “password” for another. Every password makes a new wallet.
This is somewhat tricky/confusing, because people don’t always realize that if you lose your password, you lose access to your wallet.