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Author Topic: Electrum - Multi Signature wallet ?  (Read 4557 times)
Madness
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March 18, 2015, 07:11:49 PM
 #1

Hi,
I was inactive on the forums for couple of weeks and when I'am off Bitcointalk.org , I'am off Bitcoin too . so I just had the chance to see the new Electrum wallet when I came back . I want to say good job for all the developpers . looks pretty good .. that Icon tho  Roll Eyes First was better .. a lot better.

Anyway , I'am trying to setup an Multi signature wallet and really not sure how that should work ? I'am getting the following , what should I type on the other blanks ? I don't understand to be honest , If I had to define what that is .. I would say I should make two more standar wallet , save the Master Public key , then make 1 Multi sig ? idk :x please explain if you don't mind. Yes I know what Multi sig wallet is


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EcuaMobi
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March 18, 2015, 07:13:26 PM
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You need other 2 people to create multi-sig wallets and share their public keys with you. Then you can enter their keys in the blank spaces. Of course you need to share your key with them too.

That way 2 of you 3 will need to sign transactions on this wallet.
It wouldn't make much sense to create a multi-sig wallet if you have all the keys.

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March 18, 2015, 07:17:41 PM
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The purpose of a multiSig address is that you sould "store" some bitcoin with your partner for (example) a project or a contract, if you know all the private key then it is no sense to have a multiSig address 2 of 3 (better a simple address with a single private key).
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March 18, 2015, 07:20:15 PM
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You need other 2 people to create multi-sig wallets and share their public keys with you. Then you can enter their keys in the blank spaces. Of course you need to share your key with them too.

That way 2 of you 3 will need to sign transactions on this wallet.
It wouldn't make much sense to create a multi-sig wallet if you have all the keys.


The purpose of a multiSig address is that you sould "store" some bitcoin with your partner for (example) a project or a contract, if you know all the private key then it is no sense to have a multiSig address 2 of 3 (better a simple address with a single private key).

LOL Shocked I see I understand now , Feel stupid little bit . thanks for your help
I personally just wanted to have Multi signature Adress because it's cool to have an Adress starts with "3" anyway thanks for the clarification again , however.. it can be done with Multiple PC's , correct ?

~ Madness

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March 18, 2015, 11:00:07 PM
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It wouldn't make much sense to create a multi-sig wallet if you have all the keys.

You can implement 3rd party-less 2fa using multisig. 2 of 2 wallet with the seeds on two different PCs. Perhaps when electrum kivy gets completed you could use your mobile as one of these devices instead. Either way you would need to sign the transaction with both devices.

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March 19, 2015, 06:48:08 AM
 #6

It wouldn't make much sense to create a multi-sig wallet if you have all the keys.

You can implement 3rd party-less 2fa using multisig. 2 of 2 wallet with the seeds on two different PCs. Perhaps when electrum kivy gets completed you could use your mobile as one of these devices instead. Either way you would need to sign the transaction with both devices.


Yep , It make more sense now I guess . thank you mate
I will be closing the thread now since I got the answer I need

~ Madness

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