Post
Topic
Board Project Development
Re: Mixin Safe: A Convenient and Decentralized Multisig + MPC + Timelock solution
by
cedricfung
on 21/07/2023, 15:55:30 UTC
As I said, I don't like miniscript[1], but why was Timelock chosen and why exactly at least 1 year? Also, the phrase at least may mean for more than a year.
If we assume that the use is for the heirs, it is possible after the members return the key with the recovery key and be able to withdraw the money without the consent of the owner key. Therefore, here we cannot apply it as a model for the heirs (it may be a good service if it is linked to biometric indicators that activate a lock for a period of 6 months from the date of death of the owner key holder)

I hate to say it but centralized solutions or trust in heirs are the logical ways to solve the problem of the death of the bitcoin owner.

Quote
That means the recovery key can only be used after your safe address is inactive for at least 1 year.

[1] https://bitcointalk.org/index.php?topic=5459839.msg62556275#msg62556275

The lock means to limit the ability of the recovery key, the timelock duration can be set on a per safe basis, 1 year is just a default setting. And for the test service, this duration is only 3 days.

I agree with on the logical ways. That's what Mixin Safe is doing, provides a good service to do the inheritance in the logical way. You add your trusted people to the safe, setup the trusted inheritance key manager, in a multisig and timelocked way, and easy to manage, and everybody is able to master it.