[Opened,v.1.1.0 Challenge] Create multisig and get 2 merits!

[satscraper]

To encourage users to store (for the sake of safety) their valuable stash on multisig wallet I'm running this merit pertaining challenge.

Challenge rules:

• Opened for everyone, except newly created and/or negative trust accounts.
• Opened solely for Senior+, except the negative-trust and alt accounts (previously merited accs are not accepted).
• Create multisig wallet of any quorum, including minimal one, i.e. 2-of-2
• Connect it to testnet.
• Send  from your multisig wallet to my testnet address tb1q5pzqmfaf83xzvea0sadlcq57tmyyry9hfvd8as  any number of tsat (testnet satoshes).
• Tell a little bit  of your   multisig wallet in this thread using the following template:
  Type of multisig:
  Wallet's coordinator:
  1st cosigner:
  2nd cosigner:
  3rd cosigner (if any):
  and so on:.
• Cosigners  must be relevant to the different software/hardware  wallets (and  machines/devices running those software).
• Cosigners must be described with an unambiguous clarity
• Publish ID of your confirmed transaction in this thread.

Example:

Type of multisig: 2-of-3
Wallet's coordinator: Sparrow
1st cosigner: Passport 2
2nd cosigner: SeedSigner
3rd cosigner: Jade

After checking your  transaction and   assuring myself  that it was  sent from multisig wallet I will appraise you with 5 2 merits.

Good luck to everyone!

Guides which might be helpful https://bitcointalk.org/index.php?topic=5468930   and  https://bitcointalk.org/index.php?topic=5039220.0

P.S. You can get test coins from any relevant faucet (here the list).


I retain the right to amend the rules and/or terminate this challenge at any time for any reason.

[1714607823]

1714607823

[1714607823]

1714607823

[1714607823]

1714607823

[1714607823]

1714607823

[1714607823]

1714607823

[1714607823]

1714607823

[_act_]

The transaction txid: 74e7e79dbf547a2ddda65ff078f7fb332dccd71a940365904aa319c1e4390734

I created 2-of-2 multisig

I first signed it on my first device and I transferred the partially signed testnet bitcoin transaction to the second device after I clicked on tools and clicked on load transaction. I used QR code for it.

I signed it also on the second device and broadcast it.

[ryzaadit]

I just tested these things on (Electrum) tested. I add  --testnet on the target shortcut extension to put me on the (test-wallet) first time using test net option on Electrum. Multi-Signature uses (2-of-2) the transaction export and load using the (File) option. Transaction: c669f72484b0950671a08029fd9b265d6e70bb0570afd2d6c40fe08bc52f1423

[N.O]

My transaction id: 14c6f17cba8b3f48d31c95a6e6a9391ca58c1ef16cdf7fa396aff37cb403da37

This is my first time experience I used multisig wallet and also it take long time and i also don't know to to use this wallet and then send/recieving funds. First I watched on YouTube then create multisig wallet of 2-of-2 and do all process then successfully I sent payment to your mentioning address

I used electrum testnet wallet.

[Adiljutt156]

I simply created new multisig wallets and next step I get faucet from different sites and after few hours I received Tbtc token and I used tested send method and put your address and write amount and click on pay button then showed partially signed 1/2 then I save  file in my device then open 2nd  wallet load this file sign this transaction and last step click on broadcast button and successfully proceed this txn

txn ID: 2998278ce54514d9e289c27ecd7c9a5b98105aced8637e00dfc887080230cbb3

[Becassine]

This is a great initiative satscraper. I think you've found a great way to motivate people to educate themselves on this subject.

I have created a minimal 2of2 multisig wallet with Electrum with the help of someone. At the end, it was quite easy

the txid is: 14497922c639c0008053d28d33e84fd69d1253ef32777052959395d586b23977
https://mempool.ninja/fr/testnet/tx/14497922c639c0008053d28d33e84fd69d1253ef32777052959395d586b23977

[BABY SHOES]

Transaction ID: d9173d6433c212444fbe0dc33a7694ab8e033d1c21c919a76572d0e90dffb598

First time trying to create a multisig wallet (2-of-2) testnet. The beginning was a bit more complicated because I didn't understand everything but I searched some articles and found the instructions.
I searched for faucets and got 0.00001tBtc then I made a transaction and saved the file with signed 1/2 to load later, then opened the second wallet to sign again 2/2 and broadcast it.
Now I have sent with multisig (2-of-2).

[Patikno]

Transaction ID: f8472551c5ae4f135f2d85bdc9e158712e5bc31ad2aa21d295c06c79b7bd6a5c

It's difficult to put this into practice because it's my first experience, but it's all very worth for a newbie like me who wants to try advanced things. The hardest thing for me was finding out how to get the second sign (2-of-2), it turned out it was just as simple as saving a transaction file .

[Aanuoluwatofunmi]

My transaction id:
 5b9c7d7eebd5143491307a63fc71f96b7a14bf8128c537368edbaf2586b28cad

This is a unique experience very technical little and one needs to follow the whole procedures in creating the multisig wallet first, then connect the two wallets together, proceed to making payments to the address given, using the cosigner to confirm the partial payment and after that the transaction get confirmed.

Thanks for this innovation and little of technical use of multisig bitcoin wallet through testnet, it will help people perform it in real transaction if they can get through this.

[Learn Bitcoin]

Good Challenge satscraper!

I have seen another challenge that was run by NotATether and I want to consider his challenge thread as a successful challenge because a couple of users have tried and Run a node for at least 14 days. Challenges that help improve the Bitcoin network, and this one which will increase the level of wallet security always should be welcomed and encouraged. I support your idea but I am afraid because people may abuse your challenge thread. Here is a friendly suggestion, before you merit them, look at their merit patterns so you can understand if it's an alt account or not.

Cheers mate!

[Pandorak]

Thanks for this challenge and opportunity satscraper, this is not something difficult for me, but it is certainly useful for forum users who don't know about it. My multisig wallet experience? as i said before, there is no difficulty. it's just a journey of creating 2 different wallets, making a transaction on one of the wallets then load transaction on cosigner2 and then clicking sign.

TX ID: 7fd4c0ceaf80703c88cb0acbced17cafeffe16e251531cdec58abbd1a1fbb24f

[Compromise me]

This my Transaction id: b49ffc3ac918659719fb09f9dc9240fc4eb312cc1dc6577b2932c740be120922

To join this challenge,I created multi sign wallet on electrum.Then I selected the 2 of 2 configure. When my both wallets were created on same address, then I claimed faucet from site. After receiving faucet ,I sent testnet to your Address and confirm transaction.

[satscraper]

Good Challenge satscraper!

I have seen another challenge that was run by NotATether and I want to consider his challenge thread as a successful challenge because a couple of users have tried and Run a node for at least 14 days. Challenges that help improve the Bitcoin network, and this one which will increase the level of wallet security always should be welcomed and encouraged. I support your idea but I am afraid because people may abuse your challenge thread. Here is a friendly suggestion, before you merit them, look at their merit patterns so you can understand if it's an alt account or not.

Cheers mate!

Thanks for advice.

I must confess that this subject of alt accounts is a new for me.  

Could you elaborate a bit more how their might be merit patterns could evidence the existence of alt account for the given one.

[d3bt3]

txid: 116f31b73d2e1a0b016504828e10a0664f195092aa2b38ddea6885c285cfdd31 

So easy with Sparrow ! 5-of-5 multisig for fun 
Thanks for the incentive and spreading the knowledge.

[dkbit98]

Nothing against you satscraper, but I would not suggest creation of multisig wallets to most people, even if it is a great security measure to protect your funds.
Multisig adds additional complexity and increases the chances of losing your coins if you don't create backup correctly, and you only need to lose one backup for this to happen.
Not to mention that is adds additional transaction fees as you are publishing everything on-chain.

Andreas clarifies this about Multisig setup much better than me:
https://youtu.be/ePx5lBSI0es

[Shishir99]

Could you elaborate a bit more how their might be merit patterns could evidence the existence of alt account for the given one.

I don't think anyone would give you an example of an alt account unless it's already proven. Sometimes it's obvious who is who's alts, but we shouldn't say that without any solid evidence. But, we can easily understand if we see their merit patterns and the posting habit. We shouldn't call someone an alternative account because it will create chaos. Look at the merit pattern of this account https://bitcointalk.org/index.php?action=merit;u=3564894 and you should understand who is who's an alt account. I suspect that this account belongs to a huge alt farm. At least eight accounts is in one hand. Unfortunately, we do not have any proof.

[ryzaadit]

-snip-

It's just some habits, how the circle from (Send & Receive) of their merits.

Off course these sometimes cannot be taken as proved, but usually this is one of the factors as well. We gain some information from their (Wallet Activity, how posting style, etc). So, these is just one of the point factor you can take for checking (Alt-account)

If you see some strange activity on their merit cycle, feel free to make some deep investigation on their account. Perhaps, you can find somethings on wallet and other for proof there has some connection between the account.

[satscraper]

~

~

Wow, seems to be a time-consuming task to find such alts.  

Nothing against you satscraper, but I would not suggest creation of multisig wallets to most people, even if it is a great security measure to protect your funds.
Multisig adds additional complexity and increases the chances of losing your coins if you don't create backup correctly, and you only need to lose one backup for this to happen.
Not to mention that is adds additional transaction fees as you are publishing everything on-chain.

Andreas clarifies this about Multisig setup much better than me:
https://youtu.be/ePx5lBSI0es

Different people different view on this matter.

In my view, all those  multisig-related-fears are originated from imprinting which pertains  to the practice of using singlsig wallets.

Most experts agree that multisig wallets provides robust security if compare them with singlsig.

Trade-off of lesser-convenience is almost negligible for frequent users of multisig wallet.

 

[m2017]

Nothing against you satscraper, but I would not suggest creation of multisig wallets to most people, even if it is a great security measure to protect your funds.

Creating (using) and being able to create multi-signature wallets are completely different things. This is a good challenge (thanks to @satscraper) that encourages people to try this method, but it doesn't oblige (force) participants to use multi-signature wallets. Those who need it will use it later, but for now it’s like a training lesson.

Multisig adds additional complexity and increases the chances of losing your coins if you don't create backup correctly, and you only need to lose one backup for this to happen.
Not to mention that is adds additional transaction fees as you are publishing everything on-chain.

This method is not universal (ideal) for all bitcoin users, but there will still be those who want to use multi-signature.

Thanks to your comment, users will pay close attention to the correctness and safety of backups.

[promise444c5]

  My txid : 768accc7ecb474fbedb7bab6a2cfb496dcb109b1b12705998702279ed89ce09c

It's fun learning this great stuff, it took me a while to get it but i did learn alot from it .
Thanks for this oppourtunity.