The futility of 3rd party 2 of 3

Hey everyone, just thought I’d share a though/frustration I have been having with a lot of these cool new hardware solutions coming out. I usually buy the new wallets to kinda play around with them, see if any of them might replace the wallet id recommend to people who I’ve orange pilled. All that to say, I’m pretty disappointed with a lot of these. Don’t get me wrong they are definitely sleeker and easier to use, the bitkey especially is sexy af. However between the blind sign of Tangem with the card or ring (which straight up doesn’t work on the new iPhones cause the NFC times out before the ring can even connect so that’s straight to the trash for me personally) that you don’t actually know the seed words to or bitkeys server based 2/3. Why can’t I just use these devices as signers for my own setup? Why am I forced to use their wallet and/or 3rd key? And why do have to expose my entire stack to recovery risk with bitkey? Defeats the entire purpose of multisig if someone can recover my wallet with one key. So someone could kidnap me, steal my shit and then make the request and then let me go after day 7 of the recovery hold period are over like wtf? What’s was the point? Maybe I’m missing something here but while these devices are sleek they feel like a downgrade in terms of what they’re actually supposed to do which is secure my wealth. Idk maybe I’m just an idiot or I’m over thinking it. I guess I just feel like a lot of these new wallets are shined gimmick spend wallets but I’d never actually trust them with my families wealth. A lot of these would only really work with strong legal precedent against companies that manage keys for people. It’s gotta be something almost like a Swiss bank to actually be useful (and right back where we started). Where I have to show up in person and prove I am how I am otherwise it’s all just security for show. submitted by /u/onetruecharlesworth [link] [comments]

Mar 19, 2025 - 20:02

Hey everyone, just thought I’d share a though/frustration I have been having with a lot of these cool new hardware solutions coming out.

I usually buy the new wallets to kinda play around with them, see if any of them might replace the wallet id recommend to people who I’ve orange pilled. All that to say, I’m pretty disappointed with a lot of these.

Don’t get me wrong they are definitely sleeker and easier to use, the bitkey especially is sexy af. However between the blind sign of Tangem with the card or ring (which straight up doesn’t work on the new iPhones cause the NFC times out before the ring can even connect so that’s straight to the trash for me personally) that you don’t actually know the seed words to or bitkeys server based 2/3. Why can’t I just use these devices as signers for my own setup? Why am I forced to use their wallet and/or 3rd key? And why do have to expose my entire stack to recovery risk with bitkey? Defeats the entire purpose of multisig if someone can recover my wallet with one key. So someone could kidnap me, steal my shit and then make the request and then let me go after day 7 of the recovery hold period are over like wtf? What’s was the point?

Maybe I’m missing something here but while these devices are sleek they feel like a downgrade in terms of what they’re actually supposed to do which is secure my wealth. Idk maybe I’m just an idiot or I’m over thinking it. I guess I just feel like a lot of these new wallets are shined gimmick spend wallets but I’d never actually trust them with my families wealth. A lot of these would only really work with strong legal precedent against companies that manage keys for people. It’s gotta be something almost like a Swiss bank to actually be useful (and right back where we started). Where I have to show up in person and prove I am how I am otherwise it’s all just security for show.

submitted by /u/onetruecharlesworth
[link] [comments]