jb55 on Nostr: The crazy bitcoin security side of me can’t really use bitkey in its current state ...
The crazy bitcoin security side of me can’t really use bitkey in its current state but damn it’s cool and easy to use. Feels like a more streamlined version of nunchuk. I wish it was a bit more transparent. Right now it’s completely opaque, you can’t see the multisig wallet descriptor. The rock could just be a fancy blinking light with for all i know.
It’s clearly an all-in-one solution. It doesn’t seem that it’s intended to be used as a standalone signer. I would totally use it if I could use it that way. Maybe thats coming in the future.
Right now you have to trust that the on-device key, bitkey, and their server is all securely separated. The whole point of multisig to me is to have compartmentalized trust, but bitkey seems to be using it mainly as a recovery scheme if you lose your device, since there is no seed phrase import step
I was at least able to verify that it is using multisig, but was only able to by sending a transaction, otherwise it’s all a black box and I have to trust them.
One thing you can’t deny is that if you trust that they have implemented everything the right way, it’s a very slick and simple solution for most people.
Would I recommend this for people looking to store their life savings? Probably not, at least not until it becomes more transparent.
It’s clearly an all-in-one solution. It doesn’t seem that it’s intended to be used as a standalone signer. I would totally use it if I could use it that way. Maybe thats coming in the future.
Right now you have to trust that the on-device key, bitkey, and their server is all securely separated. The whole point of multisig to me is to have compartmentalized trust, but bitkey seems to be using it mainly as a recovery scheme if you lose your device, since there is no seed phrase import step
I was at least able to verify that it is using multisig, but was only able to by sending a transaction, otherwise it’s all a black box and I have to trust them.
One thing you can’t deny is that if you trust that they have implemented everything the right way, it’s a very slick and simple solution for most people.
Would I recommend this for people looking to store their life savings? Probably not, at least not until it becomes more transparent.