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Author Topic: @theymos - Request: Multisig addresses for treasurers  (Read 2294 times)
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May 27, 2019, 11:23:27 PM
 #81

What could be the reasons that Theymos and Cobra may disappear? I read in this thread and in the contract about the word "Disappear (if)"

Dying is a natural thing - what else?


Theymos has control over the server, Cobra has control over the domain if I'm not wrong.
Who else has access to this domain and server in absence of Theymos and Cobra? Shouldn't be there a plan B at least for the natural cause?

Maybe they elope.

I mean, not necessarily together or anything.

No seriously, a lot of early bitcoiners have gone. Maybe they chose to go or The Feds chose for them.

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Creating a Bitcoin client that fully implements the network protocol is extremely difficult. Bitcoin Core and some of its derivatives are the only known safe implementations of full nodes. Some other projects attempt to compete, but it is not recommended to use such software for anything serious. (Lightweight clients like Electrum and Bither are OK.)
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May 28, 2019, 06:33:46 AM
 #82

What could be the reasons that Theymos and Cobra may disappear? I read in this thread and in the contract about the word "Disappear (if)"

Dying is a natural thing - what else?
Ask Satoshi Nakamoto Wink
My point is: anything can happen, the word "disappear" covers all possibilities without the need to make a list.

Theymos has control over the server, Cobra has control over the domain if I'm not wrong.
Who else has access to this domain and server in absence of Theymos and Cobra? Shouldn't be there a plan B at least for the natural cause?
There is a plan B for the server:
Should I disappear, Cyrus and/or others-I've-established will take over day-to-day operations and decision-making.

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May 28, 2019, 02:10:25 PM
 #83

What could be the reasons that Theymos and Cobra may disappear? I read in this thread and in the contract about the word "Disappear (if)"

Dying is a natural thing - what else?


Theymos has control over the server, Cobra has control over the domain if I'm not wrong.
Who else has access to this domain and server in absence of Theymos and Cobra? Shouldn't be there a plan B at least for the natural cause?

Coma, arrest/imprisonment, kidnap, gets lost in a wilderness, disappears into the sunset on their yachts or even floats off on their seastead.

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May 28, 2019, 09:28:35 PM
 #84

What could be the reasons that Theymos and Cobra may disappear? I read in this thread and in the contract about the word "Disappear (if)"

Dying is a natural thing - what else?


Theymos has control over the server, Cobra has control over the domain if I'm not wrong.
Who else has access to this domain and server in absence of Theymos and Cobra? Shouldn't be there a plan B at least for the natural cause?

Embezzlement from the forum.
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May 28, 2019, 10:03:54 PM
 #85

What could be the reasons that Theymos and Cobra may disappear? I read in this thread and in the contract about the word "Disappear (if)"

Dying is a natural thing - what else?


Theymos has control over the server, Cobra has control over the domain if I'm not wrong.
Who else has access to this domain and server in absence of Theymos and Cobra? Shouldn't be there a plan B at least for the natural cause?

Embezzlement from the forum.

I don't think you can embezzle money from yourself.

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May 28, 2019, 10:16:39 PM
 #86

What could be the reasons that Theymos and Cobra may disappear? I read in this thread and in the contract about the word "Disappear (if)"

Dying is a natural thing - what else?


Theymos has control over the server, Cobra has control over the domain if I'm not wrong.
Who else has access to this domain and server in absence of Theymos and Cobra? Shouldn't be there a plan B at least for the natural cause?

Embezzlement from the forum.

I don't think you can embezzle money from yourself.

lol just stirring the pot
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August 22, 2019, 07:41:40 PM
 #87

This has been suggested several times and I think it's extremely important. I see it as essential for the forum's funds security and I don't see any disadvantages at all. Current treasurer OgNasty agrees multisig should be used.

I would suggest choosing several very trustworthy users and creating x-in-y addresses, where x is at least 3 (to avoid collusion) and y is at least x+2 (to avoid an accident to lock the funds). 4-in-7 addresses could be a good option. Theymos, is there any reason this hasn't been implemented yet? What are the disadvantages? Funds have been lost and more could be lost in the future.

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Vod can't quote or mention OgNasty, directly or indirectly.
OgNasty can't quote or mention Vod, directly or indirectly.


I am new to this whole Treasurer thing. Before reading parts of the thread I had no idea Treasurers existed.

Why on earth would that be the case? Why would multisigs be required if these are donations?

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August 22, 2019, 07:50:59 PM
 #88

Having treasurers falls down to there not being one person in control of the very large amount of funds. This precaution prevents an unlikely exit scam or lost funds due to death, dissapesrance or other event.

The multisig wallets take care of those same issues in the same fashion by distributing the responsibility.

Donations can still be valuable and need to be protected.

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August 22, 2019, 08:39:15 PM
Last edit: August 22, 2019, 09:27:44 PM by malevolent
 #89

I am new to this whole Treasurer thing. Before reading parts of the thread I had no idea Treasurers existed.

Why on earth would that be the case? Why would multisigs be required if these are donations?

They have existed since 2013 and are there to increase the bus factor, ie. should theymos get hit by a bus, find himself robbed of the bitcoins, or should the money disappear in other ways, there are still treasurers holding a significant sum.

BTW, most of the money isn't from donations which have long since been spent on the development of new forum software (epochtalk), but from ad revenue.

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August 22, 2019, 09:48:18 PM
 #90

I am new to this whole Treasurer thing. Before reading parts of the thread I had no idea Treasurers existed.

Why on earth would that be the case? Why would multisigs be required if these are donations?

They have existed since 2013 and are there to increase the bus factor, ie. should theymos get hit by a bus, find himself robbed of the bitcoins, or should the money disappear in other ways, there are still treasurers holding a significant sum.

BTW, most of the money isn't from donations which have long since been spent on the development of new forum software (epochtalk), but from ad revenue.


Thank you for the post. It makes more sense now.


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