Hi all, after all the problems with single sig we had this summer, I have decided to set a multi sig multi vendor scheme. In my research I discovered Liana, mini script and timelocks, and I think it is a very powerful feature. The things I want to archive are:
1) not depending on any single vendor.
2) being absolutely incapable of signing from my home. So, in case of a physical attack, I could not comply.
3) facilitate inheritance.
I will describe the system. Multisig 2/2, key A in my home, key B in another home, several hours away. Key C with a timelock, let's say a year. After the timelock, the key C can single sig move the funds. I will give that key to a close person.
Pros over a regular multisig 2/3
-I don't have 3 locations to store the 3 keys.
-I think is more robust to physical attacks. One atacker would need to collect A + B, and I will always have strict control over A. In a regular 2/3 he could get B + C, which I may have less control.
-I don't have to trust the person with key C
-It facilitates inheritance
Cons:
-I need to move the funds with A+B before the timelock expires to renew it.
-If I lose key A or B, I will need to wait until the timelock expires to use key C.
-It is a less popular and tested scheme.
So, what do you think? Thanks in advance for your feedback.
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