What is Bitcoin 'Multisig'?; How bitcoin is infinitely divisible; John McAfee RIP

What is Bitcoin 'Multisig'?; How bitcoin is infinitely divisible; John McAfee RIP

What is Bitcoin 'Multisig'?

'Multisig' is short for multisignature wallets.

Multisig basically means that there are multiple signatures required to send or spend from a particular wallet.

Multisig comes in the form of private keys.

A 2-of-3 multisig wallet required 2-of-3 private keys to send or spend bitcoin from the wallet.

Multisig generally improves a wallet's security and prevents funds from being misspent or stolen.

Popular multisig wallets are offered by providers such as Blockstream, Unchained Capital and Casa.

In a multisig setup, the loss of one key does not result in the loss of the wallet and funds contained within the wallet.

A multisig address is a bitcoin address that has more than one private key.

Multisig is not available on the Trezor wallet just yet.


Bitcoin is infinitely divisible

One thing I have noticed recently about bitcoin is that it is divisible to eight decible places. The smallest division of a bitcoin is known as a satoshi.

But what if a service such as Lightning Network were to come along and start dividing the satoshi. Wouldn't that be a possibility for causing hyperinflation in bitcoin?


John McAfee RIP

I was saddened to hear of the untimely death of John McAfee on wednesday. Apparently he committed suicide in his Spanish prison cell after hearing that a local court had approved his extradition request to the US.

He was to be extradited on charges of tax evasion and not filing tax returns for four years.

I never thought John McAfee would commit suicide, no matter how bad things got for him.

I viewed John McAfee as a freedom fighter, and used to watch his youtube channel with great interest.

He had a good idea of what it meant to be free from the controls of an overarching state.

Long live my fond memories of John McAfee.

I found him to be quite informative and enlightening. He was a wonderful orator and public speaker.