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Ask SN: Best tools for key management for normies?
60 sats \ 5 comments \ @thrown 31 Jan 2022 bitcoin
A lot of bitcoiners have this idea that everyone wants to “be their own bank”.
Even if that were true (it’s not), there are some major hurdles that need to be jumped to make it a possibility.
Namely, there needs to be better tools for key management for normal people. eg. Social key recovery, dead man switches, hardware transaction signers, things that makes this stuff a bit more understandable for non-technical people.
What are some exciting projects in this space?
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2 sats \ 1 reply \ @nout 1 Feb 2022
I would love if there would be easier tools in this space. Especially around inheritance and not being able to lose the money that easily.
What if all Bitcoin wallets automatically default to having a script with two branches
  1. either the owner can move it, or
  2. after 10 years of inaction the ownership is automatically given to family address, or some service that deals with inheritance...
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0 sats \ 0 replies \ @thrown OP 1 Feb 2022
Not everyone would use it, but some kind of shamir's secret sharing seems highly desirable for many.
Bitcoin should be able to leverage existing social bonds of trust.
I can mark trusted accounts on facebook like if i die, my mom and brother can get into my account. Likewise, i want my mom and brother to be able to help me recover my account if i lose the password.
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1 sat \ 0 replies \ @cointastical 31 Jan 2022
I haven't yet listened, but I've added it to my queue.
SLP344 NVK – Coldcard Mk4, Tapsigner, Satscard – Bitcoin Hardware Innovation #9321 https://stephanlivera.com/episode/344
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0 sats \ 0 replies \ @thrown OP 1 Feb 2022
This is a highly relevant article: https://bitcoinmagazine.com/technical/protecting-bitcoin-shamir-backup
Shamir backups solve the problem of protecting the recovery seed. Multisigs offer enhanced security when transacting. The two can actually be combined: you can have a multisig scheme, where the recovery seed of each individual wallet is protected via Shamir backups.
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0 sats \ 0 replies \ @cameri 31 Jan 2022
Thanks! Queued!
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