Presenting a BIP for Shamir's Secret Sharing of Bitcoin private keys



Summary:

In an email conversation on March 29, 2014, Alan Reiner expressed concern about the usability of obfuscating information in SSSS. He argued that users may forget or confuse the M-parameter when making backups of their wallets, leading to potential security issues. Additionally, he believed that the complexity added by obfuscation was unnecessary given that most backups would be 2-of-N or 3-of-N, and that attackers would not be able to act on any information they could obtain. Despite Reiner's concerns, it was ultimately decided that his proposed BIP was unneeded, and he did not pursue further improvements based on suggestions he had received.


Updated on: 2023-06-08T17:15:35.609724+00:00