0 sats \ 3 replies \ @thebtctoto OP 18 Nov 2022 \ on: What do yall think of shamir backup? Cool option for 2-3 ppl business treasury? bitcoin
Im thinking it would be easy for the treasurer in a small business to control the wallet, then you split up the pass phrase shares between principled persons or lawyer...so you can collaborate to restore the wallet but dont need to worry about one person or employee stealing the funds.
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0 sats \ 1 reply \ @sime 20 Nov 2022
Shamir is a (great) recovery technique. You set up to the shares once and distribute them however you see fit.
You can multisig on top of it.
I give example of Shamir use case in another thread: #78455
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0 sats \ 0 replies \ @sime 20 Nov 2022
Sorry, my point was, multisig and Shamir slove different problems.
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0 sats \ 0 replies \ @031ef7d322 19 Nov 2022
Multisig allows signers to remain geographically distributed.
Shamirs results in the key being present at a single location during signing, which provides an opportunity for someone to steal it.
Usually multisig is probably better for a treasury.
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