Post
Topic
Board Service Discussion
Re: Ultimate Bitcoin Privacy - Discussion
by
Synchronice
on 30/03/2023, 20:06:43 UTC
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?
Currently I am all 3 "users", the point is that if you have a 2 server setup for the whole infrastructure, like in a case where we all know for a fact this is the truth, then the entire service including funds are at risk of being hacked/seized//the list goes on. I can't disclose the exact setup that we are running for obvious reasons but there are >5 servers, and all but the clearnet frontend one are not exposed. While risk still exists with our setup too, it's mitigated to a minimum. I am not trying to pretend that I don't have access to funds or anything like that, I said multiple times that unless there will be more signers besides me in the multi-sig, then users will have to trust me and it's just how it is. But at least if you assume I am honest, then you don't have to worry about much else. I don't believe you have this luxury with many other services.
I mean, if something happens to those one or two users, you can use your backup that you hold for all 3 signers, right? This means, finally the control system is still centralized and in reality, we don't get pure 3 signers service because after all, you are capable to use those keys anytime you wish and finally it comes to whether we trust personally you or not, right? Or did I misunderstood something here?
Btw I'm not saying whether you are trustworthy or not, I'm neutral here.