I wish to defend my bitcoin and my risk mannequin is that one of many two paper copies of the seed is accessed to get better the pockets and steal the funds. To mitigate this danger I’m considering the choices of a 2-out-3 multi-sig pockets. My first technique is as follows:
I’ve due to this fact 4 geographically separate and secret places (excluding myself). When it comes to {hardware} wallets with me, I solely have 1 which implies if the principle machine is stolen, my bitcoins are protected as yet one more secret is wanted. The identical is true if places 1 or 2 are uncovered and a {hardware} pockets units have been to be stolen (as only one {hardware} pockets is there). Nonetheless, taking the seed perspective, two seeds can be compromised.
My first query is whether or not an attacker can steal the funds with the 2 seeds uncovered or if 3 seeds are a should so as to recreate the pockets and take the funds? (I’m assuming that if the attacker would have entry to the two seeds to recreate personal keys and the multisig pockets that was arrange on my private laptop will not be potential). I feel that’s the case, as a result of recovering multisig pockets on Electrum requires 3 seeds (or 1 seed and a couple of public keys of the co-signers), however wished to double-check with the group that certainly no bitcoin will be moved with simply two seeds uncovered. Observe that with this setup it’s successfully cold-cold storage as transferring bitcoin, on this case, requires going to both location 1 or 2 to take both {hardware} pockets 1 or 2 to co-sign with the {hardware} pockets 3.
The opposite choice is to create a hidden pockets with a passphrase utilizing only one pockets. In that case 2 copies of seed and a couple of copies of the passphrase will be saved in 4 geographically distinct places. If the seed is uncovered then the hidden pockets cannot be accessed and if the passphrase is accessed then the hidden pockets cannot be recreated too. The one vulnerability within the latter case is that if the {hardware} machine was stolen and used to maneuver the cash (both by tampering with it bodily or by straight utilizing it though utilization will be restricted with the machine PIN).
My second query is whether or not the primary choice provides a considerably greater entropy for the safety. Observe that by way of prices of storage the associated fee can be the identical as in each circumstances we should make use of 4 places.