u/randousername888

Seed vs Multisig Risk

Can someone please confirm if my understanding is correct...

  • Both a 24 word seed and a 24 word seed with a passphrase generate a 256bit number that gives control to the keys to a set of wallets. Basically they have the same level of security, assuming your 24 word seed can't be hacked but in practice the added passphrase adds more security to manage the risk someone finds your 24 seed words...
  • If someone were to guess this seed (e.g. by brute force), they could spend/control any funds in any wallet generated with this seed. They woulnd't need to know the wallets, they have the keys to all so you would lose control. I appreciate theoretically this is "impossible" based on maths but its a non zero chance no matter what precautions you take and maybe with tech advancements in 1000s of years it becomes less impossible without changes to standard.
  • Multisig manages this specific risk by requiring someone to know 2 of 3 (or X of Y) seeds to contol the funds in the wallet. The chance of someone randomly getting the same seed twice is multiple times more impossible... However the risk here for an individual is it becomes more complicated and you have more information to store and potentially lose or get wrong going this route.

For an individual personal vault, multi sig is risk free from being extremely unlucky but adds operational risk which makes it debateable if its worth doing?

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u/randousername888 — 8 days ago

Running under someone else's name...

My wife unexpectedly got ill 2 months ago and was required to have major surgery. As part of her recovery she can't run for 12 weeks and there goes her plans to run the marathon.

Reading the rules you can only cancel / delay a year if it's due to pregnancy so seems like there's no official way to transfer or move her entry to next year now.

Rather than letting the entry go to waste, can I run it on her behalf using her bib. I'm a slow runner and won't break any records so will anyone care? Do they ID check or do bibs say gender or anything that will make it obvious? My wife fortunately has a unisex name which might make it less obvious...

reddit.com
u/randousername888 — 1 month ago