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Title: Let's try this: We need a hot wallet that takes multiple devices to control Post by: coastermonger on March 10, 2014, 05:30:38 PM So use multi-signature transactions right? Great!
Now ask yourself, why isn't multi-sig more prevalent? Because its usability is still awful. It's still beyond the average user to set up, maintain, and spend from multi-sig addresses. Various online tools exist that can help, but running to a hosted website for each new spend or multi-sig address shouldn't be the end-all solution for bitcoin users. Instead, it should be possible to design a locally run wallet with a simple user interface that can easily split up the control over multiple devices. I'm posting it here for comment and critique because I just want to know if this idea sounds feasible. Feel free to poke holes in it and call out what doesn't make sense. If executed properly, we'll end up with a dynamic program that can create a variety of customized, secure, and persistent multi-sig setups. 2-of-2 setup https://i.imgur.com/EDTW89V.jpg 2-of-3 setup. https://i.imgur.com/C2x2Z56.jpg Title: Re: Let's try this: We need a hot wallet that takes multiple devices to control Post by: blueangel01 on March 10, 2014, 05:41:40 PM Very interesting concept. I would like to see it myself too.
Title: Re: Let's try this: We need a hot wallet that takes multiple devices to control Post by: phillipsjk on March 10, 2014, 08:09:05 PM I don't really understand how this differs from multi-signature transactions.
On application of multi-signature transactions, via Pay-to-Scripthash, is requiring m of n people to sign any transaction. Obviously to do that securely, each participant should use their own device. Title: Re: Let's try this: We need a hot wallet that takes multiple devices to control Post by: coastermonger on March 11, 2014, 02:06:50 AM I don't really understand how this differs from multi-signature transactions. On application of multi-signature transactions, via Pay-to-Scripthash, is requiring m of n people to sign any transaction. Obviously to do that securely, each participant should use their own device. This is a discussion about making multi-signature transactions very easy for the average user to create/maintain/spend in a local wallet GUI across multiple devices. Let me just boot up my bitcoin-qt client and show you how easy this- ...oh wait, it can't be done yet. Title: Re: Let's try this: We need a hot wallet that takes multiple devices to control Post by: mkendall82 on March 11, 2014, 04:03:52 PM Well done! Very interesting in looking how does it actually work
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