| submitted by /u/aiakos
At the moment digital currencies like Bitcoin operate in a gray space in the country and there have been some controversies lately on the legality of …
Google Alert – bitcoin
Normally, giving out a phrase to recreate your wallet is a bad idea.
If I have a multisig wallet – lets say 2 of 3 – and don’t want to participate as a signer anymore, I think I can give the phrase to recreate my wallet to someone else.
Even if we would both be in possession of that phrase – assuming there is no way to trustlessly do this – it seems that moving funds would still require the other signers in the p2SH script.
The only possible downside is if I retained access to the wallet and rejected signing transactions, that the new owner of my key would have accepted.
What are your thoughts? Am I missing something