Sir NOSTR on Nostr: My problem with the Bitkey is that if restoration can take place with 2 of the 3 keys ...
My problem with the Bitkey is that if restoration can take place with 2 of the 3 keys missing, there exists a mechanism where a government subpoena can force Block to give them your bitcoin.
Seems like a solution for getting no-coiners into self custody rather than custodial but the trade-off is less security.
Published at
2024-03-15 01:35:14Event JSON
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"pubkey": "b8c8499585f98609ff14a252b7b7cbe0651cbd91dc02563081308465d9a9a980",
"created_at": 1710466514,
"kind": 1,
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"content": "My problem with the Bitkey is that if restoration can take place with 2 of the 3 keys missing, there exists a mechanism where a government subpoena can force Block to give them your bitcoin.\n\nSeems like a solution for getting no-coiners into self custody rather than custodial but the trade-off is less security.",
"sig": "dcdeaa844c1f8746ea828d04e861051e0eaf76dcae0a336ea3b35288f1b7bdeb058196ec93f33ece37ecc7f8223b6213caf9e451cfaf9729827e5a31cf4f0802"
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