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.