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Re: @theymos - Request: Multisig addresses for treasurers
by
Royse777
on 13/05/2019, 19:41:14 UTC
⭐ Merited by paxmao (1)
This has been suggested several times and I think it's extremely important. I see it as essential for the forum's funds security and I don't see any disadvantages at all. Current treasurer OgNasty agrees multisig should be used.

I would suggest choosing several very trustworthy users and creating x-in-y addresses, where x is at least 3 (to avoid collusion) and y is at least x+2 (to avoid an accident to lock the funds). 4-in-7 addresses could be a good option. Theymos, is there any reason this hasn't been implemented yet? What are the disadvantages? Funds have been lost and more could be lost in the future.
This will be a very good step to secure the forum funds. It has a cost. I know OG gets 0.5BTC meaning more key holders, more money to pay every month.

So, considering the expense, I think 2/3 Multisig wallet/address will more than enough.

Thanks for posting this topic. Someone had to create a topic for this.