hodlpleb on Nostr: Some examples: If you have a 2-of-3 setup, but 2 of your wallets are lost, you can ...
Some examples:
If you have a 2-of-3 setup, but 2 of your wallets are lost, you can still recover with 1 wallet, after time allows.
If you have bitcoin saved for your kid, it could be 3-of-3 until the kid turns 25, then 2-of-3 till he turns 30, then 1-of-3 after that
Board of directors - enforce 5-of-7 but after some time drops to 4-of-7, to prevent one disagreebal person from locking up the funds
If you have a 2-of-3 setup, but 2 of your wallets are lost, you can still recover with 1 wallet, after time allows.
If you have bitcoin saved for your kid, it could be 3-of-3 until the kid turns 25, then 2-of-3 till he turns 30, then 1-of-3 after that
Board of directors - enforce 5-of-7 but after some time drops to 4-of-7, to prevent one disagreebal person from locking up the funds