220 sats \ 9 replies \ @jasonofbitcoin 21 Aug 2023 \ on: RE: Andreas Antonopoulos - MultiSig is NOT the best option for most people bitcoin
so, just store backups of every xpub in the multisig (N of N) with each one of the seed phrases. makes sense.
I created a LaTeX template for exactly this: https://gist.github.com/ekzyis/7736e2446dbb8ed2cdb587071c42380b
It even uses the SN font for extra style points
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Thanks for sharing this
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That's really good!
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Pretty much. At minimum you could do:
Location #1: Seed 1 + xPubs 1, 2, 3
Location #2: Seed 2 + xPubs 1, 2, 3
Location #3: Seed 3 + xPubs 1, 2, 3
Mobile / desktop wallet: xPubs 1, 2, 3
There isn't a standard to represent xPubs in human readable format (like BIP39) so you can't easily engrave them in metal. As such, you need high redundancy to safeguard against paper / digital copies getting destroyed.
As xPubs don't grant spending permission, you can have as much redundancy as you want. One downside is that while the xPub set doesn't grant spending permission, it does reveal your holdings. An attacker who discovers one of your xPub backups might be motivated to continue digging around if they see that the wallet has a high balance.
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If you have the seed and derivation path, you can recreate the xpub, so that’s all you need to save
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Yeah it’s kind of confusing, this tripped me up at first too!
You can’t actually recreate the xpubs unless you have all three seed phrases. But you don’t need that to save/receive. You need different pieces of the puzzle to save vs spend.
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i think you're missing the point.
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I guess so
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This guy gets it
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