What is Multisig — Meetup
Date: 2022-12-08
Presenter: Round Rock Bitcoiners
Outline & Notes
What is Multisig — Meetup #7 (2022-12-08)
Date: December 8, 2022
Community
- Mission: Share bitcoin knowledge, tools, resources in Round Rock
- Ground Rules: No shitcoining, Chatham House Rule
- Mexico Adoption Trip: Handed out >35 bitcoin tips via Azte.co vouchers
Multisig Deep Dive
"Multisignature scripts set a condition where N public keys are recorded and at least M must provide signatures to unlock funds."
Benefits
- Key Distribution: attacker must be in multiple places
- Removes Single Point of Failure
- Diversify Risk: multiple hardware wallet manufacturers
- Escrow Transactions: third party adjudicates disputes
- 2FA: keys on different devices (but 2-of-2 is risky — losing one = unrecoverable)
Pitfalls
- Advanced setup = more possibility of error
- More seeds to backup, more devices to secure
- Backup of ALL public keys required
- Loss of 1 seed + 1 public key = no recovery in 2-of-3
- Document script type and derivation paths
- Use testnet first; test recovery multiple times before mainnet
Setup Guides
- Bitcoiner.Guide Multisig (Specter + Sparrow)
- Orange Surf Multisig Guide (Sparrow 2-of-2 and 2-of-3)
Semi-Custodial Options
- Unchained Capital: you hold 2 keys, they hold 1
- Casa Hodl: 2-of-3, 3-of-5, fee-based
Slides in this Deck
- Deck Overview (All Slides)
- Slide 1
- Slide 2
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- Slide 8
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16















