Title: Multi-owner wallet Post by: dancojocaru2000 on March 28, 2015, 08:50:11 PM Everybody, i have a BIG question.
Is there any multi-owner wallets? Something like a wallet that more users can acces using different ID's, And if someone makes a tranzaction, everybody else must approve it first. Thank you for writing an answer. It helps me a lot. I will give someone a little bit of BTC if the answer he gives to me is perfect (he offers me a service name and explains about it), if needed, If you want that, write the address or Coinbase e-mail. Title: Re: Multi-owner wallet Post by: Muhammed Zakir on March 28, 2015, 08:52:21 PM Use a multisig wallet.
Armory and Electrum would be best choice. Edit: Sorted according to my likes.
Title: Re: Multi-owner wallet Post by: dancojocaru2000 on March 28, 2015, 09:03:09 PM Use a multisig wallet. Armory and Electrum would be best choice. Edit: Sorted according to my likes.
Ok, how does it work? I mean, tell me one that is easy to use, secure, and tell me how to create one. I will look up for multisig so I can see what it is. Title: Re: Multi-owner wallet Post by: Muhammed Zakir on March 28, 2015, 09:16:01 PM Ok, how does it work? I mean, tell me one that is easy to use, secure, and tell me how to create one. I will look up for multisig so I can see what it is. I am very poor at explanation. If you want to get a better(/best) answer, it is good to wait for DannyHamilton's post but I am not sure he will post here. ::) Multisig addresses needs m-of-n signatures when sending a transaction. Here n refers to maximum number of signatures you need and m refers to minimum number of signatures you need to send a transaction successfully. Let's say, there are 5 people in your office and you want at-least 4 of them to approve a transaction. Then, you create a 4-of-5 multisig address. If you want to spend an amount from that wallet, minimum of 4 staffs need to approve it, so if only 3 staffs approved it, the funds won't be moved. "Easy" differs from person to person. If you have a good internet connection and good storage - min. 60+ GB((which I assume you have), then Armory is best choice. If you want to go for lighter ones, I suggest Electrum. If you want to use existing addresses of staffs to sign the transaction, Coinb.io will be a good choice. You must download the zip and better not to upgrade it. P.S. Electrum have limitations, i.e., you can only create 2-of-2 or 2-of-3 which isn't good if you want more than 2 staffs to approve the transaction. Edit: Tutorials: Armory: http://bitforum.info/t/armory-lockbox-multi-sig/271 Coinb.in: http://www.deepdotweb.com/tor-bazaar-multisig-guide/ and Electrum: http://www.deepdotweb.com/2015/03/21/multi-signature-transactions-electrum-2-0/ and https://gist.github.com/atweiden/7272732 (coders). mSIGNA: http://www.nicolascourtois.com/bitcoin/paycoin_multisig_tutorial_3e.pdf Coinkite: http://blog.coinkite.com/post/102291566521/bitcoin-multisig Title: Re: Multi-owner wallet Post by: dancojocaru2000 on March 28, 2015, 09:34:55 PM Ok, how does it work? I mean, tell me one that is easy to use, secure, and tell me how to create one. I will look up for multisig so I can see what it is. I am very poor at explanation. If you want to get a better(/best) answer, it is good to wait for DannyHamilton's post but I am not sure he will post here. ::) Multisig addresses needs m-of-n signatures when sending a transaction. Here n refers to maximum number of signatures you need and m refers to minimum number of signatures you need to send a transaction successfully. Let's say, there are 5 people in your office and you want at-least 4 of them to approve a transaction. Then, you create a 4-of-5 multisig address. If you want to spend an amount from that wallet, minimum of 4 staffs need to approve it, so if only 3 staffs approved it, the funds won't be moved. "Easy" differs from person to person. If you have a good internet connection and good storage - min. 60+ GB((which I assume you have), then Armory is best choice. If you want to go for lighter ones, I suggest Electrum. If you want to use existing addresses of staffs to sign the transaction, Coinb.io will be a good choice. You must download the zip and better not to upgrade it. P.S. Electrum have limitations, i.e., you can only create 2-of-2 or 2-of-3 which isn't good if you want more than 2 staffs to approve the transaction. Edit: Tutorials: Armory: http://bitforum.info/t/armory-lockbox-multi-sig/271 Coinb.in: http://www.deepdotweb.com/tor-bazaar-multisig-guide/ and Electrum: http://www.deepdotweb.com/2015/03/21/multi-signature-transactions-electrum-2-0/ and https://gist.github.com/atweiden/7272732 (coders). mSIGNA: http://www.nicolascourtois.com/bitcoin/paycoin_multisig_tutorial_3e.pdf Coinkite: http://blog.coinkite.com/post/102291566521/bitcoin-multisig And how do they sign the transactions? Title: Re: Multi-owner wallet Post by: Muhammed Zakir on March 29, 2015, 05:22:21 AM And how do they sign the transactions? Like normal addresses. Assume there are 6 staff and you need at-least 5 staff to approve the transaction. You create a 5-of-6 multisig address. This is how you create a transaction: #1: Staff-1 create a transaction and sign it with his/her key. #2: Staff-1 sends that signed transaction to Staff-2. #3: Staff-2 signs it with his/her key and sends the signed transaction to Staff-3. #4: Staff-3 signs it with his/her key and sends the signed transaction to Staff-4. #5: Staff-4 signs it with his/her key and sends the signed transaction to Staff-5. #6: Staff-5 signs it with his/her key. #7: Staff-5 broadcast/push the transaction. If you want all(six) staffs to approve the transaction, then you create a 6-of-6 multisig address. If you do, there will be a slight change in steps. #6: Staff-5 signs it with his/her key and sends the signed transaction to Staff-6. #6: Staff-6 signs it with his/her key. #7: Staff-6 broadcast/push the transaction. Title: Re: Multi-owner wallet Post by: Minerjoe on March 29, 2015, 06:34:14 AM I would recommend multi sig Armory. UI s not the best possible but it does the job.
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