You are reading content from Scuttlebutt
@dan %rtKUkQXhQIyYd2ccm7w0Ahxs9TsUOgzO3ejyykrUB7k=.sha256
Re: %mjGdATRY0

@Alanna "Can someone articulate why it's desirable/necessary to have more required co-signers? @Dan Hassan you mentioned it was so we could keep more money in the wallet, but you didn't really connect the dots on why that was so. What's wrong with keeping more money in a 2-sign wallet?"

Mainly for learning/experimentation. Exploring what is possible with different configurations.


For our particular composition of group our current setup of 2/6 would likely be fine for 1 BTC or 100 BTC. Whilst there may be many groups within our ecosysystem which share this extremely high trust arrangement, there are many more gradients within the organisaitional landscape.

My suggestion was based on incremental experimentation which might give us insights into processes and setups which might be useful for organisations across a broader range of the organisational landscape.

Here are a few other examples:

  1. When issuing gifts/endowments to other groups such as #greaterthan or some other projects one of the first questions after setting up wallets was:

"When should we cash this out? Should we keep it as crypto?"

An alternative to cashing all out immediately would be to set up different multisig wallets with different parameters and conditions:

a. keep 1% in a restrictive multisig wallet till 2020 OR when BTC-USD rate hits 1,000,000k USD per coin.
b. keep 2% in a restrictive multisig wallet till 2020 OR when BTC-USD rate hits 500,000k USD per coin.
c. keep ... etc

...

Have run out of steam for now... will come back later.

Join Scuttlebutt now