Post
Topic
Board Service Discussion
Re: Ultimate Bitcoin Privacy - Discussion
by
Synchronice
on 28/03/2023, 19:28:05 UTC
It is a 3/3 multisig setup, 1/3 would defeat the purpose. The reasoning behind it is that if one signer will ever be seized or it stops for any reason there is no damage that can be done.
3/3 is a case where three signature is required to sign a transaction. So, if one user isn't online or able to sign, then you are going to migrate to a new multi-sig with new signers and servers because you have the backup, you said that.
So, if you hold the backup for all 3 signers and you can always change the fate of situation, doesn't that mean that all you are doing by multi-sig is that you just put transparent curtains? I mean, what's the point of 3/3 multisig if you can always do whatever you want?