Let's try this: We need a hot wallet that takes multiple devices to control

[coastermonger]

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






2-of-3 setup.

[blueangel01]

Very interesting concept. I would like to see it myself too.

[phillipsjk]

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.

[coastermonger]

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.

[mkendall82]

Well done! Very interesting in looking how does it actually work