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A comment on Top Bitcoin dev gets owned. Parent comment

Re:Top Bitcoin dev gets owned by fshbbdssbbgdd on Sunday January 01, 2023 @09:52PM (#34213686)
Can you go into more detail about how multisig helps? I assume one of the signatures is my hardware wallet. Who holds the other signature? Do they have SIPC insurance?
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Re:Top Bitcoin dev gets owned by jki275 on Monday January 02, 2023 @08:43AM (#34217735)
There is no insurance for cryptocurrency. You are your own bank, with all that entails.

If you want to do multi-signature, you determine where your keys go and who holds them. It's up to you to secure your finances.

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Re:Top Bitcoin dev gets owned by kayamon on Tuesday January 03, 2023 @09:18AM (#34231590)
> There is no insurance for cryptocurrency.

https://www.lloyds.com/about-lloyds/media-centre/press-relea...

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Re:Top Bitcoin dev gets owned by reedjosh on Monday January 02, 2023 @12:11PM (#34220404)
I briefly touched on it above, but it's basically that you can mint as many keys as you like and require quorum to transact.

2/3 and 3/5 are common.

This way it's hard for a theif to find enough keys to steal your BTC, and you get additional backups in case something happens to one or more of your keys.

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