#showerthoughts #bitcoin if you told someone irl how much bitcoin you have before you learned the cardinal rule, go lie to them now and tell them you sold it all to pay off credit cards and tax debt. Anyone will believe this.

#gm nostr. I have developed an idea to drop my bitcoin to my wife automatically if I get unalived by some crazy USA shit or a sudden stroke, and looking for opinions on my plan to see if I’ve missed any pitfalls. I would create a signed PBST file that transfers my #bitcoin to the family wallet (currently empty), which my wife has access to in multiple backups. So I would create a scheduled email to go out a few months into the future containing the signed PBST file, then set an email reminder to myself to reset the schedule a week or so before the email goes out. If I’m not respirating at that time, the email will go out to her with simple instructions on how to use an app to broadcast the tx, quite a dead-simple process actually that any noob could pull off - it’s a one step process. In my scenario, the PBST file need not be protected very strongly at all, because nobody could change the destination of the coins. What am I missing?

how to invest in #bitcoin

#orangepill #bitcoin

Multisig backups are a mess. The BSMS standard exists, but in my experience, the BSMS files are not compatible 100% from wallet to wallet. I’ve tried and some wallets fail to load BSMS files created by others. Period. This leaves me feeling like I would need to rely on one wallet vendor for recovery instead of the basic and universal, uncomplicated seed phrase. So for long term storage, it’s frightening to feel like you might have problems later if your chosen wallet vendor vanishes. You need to be concerned with derivation paths, key fingerprints and all that mess. My question is: has anyone simplified multisig (self-custody) backups to the fool-proof level of seed phrase simplicity? #asknostr #multisig