FLOT BTC Operations (buy side)

[masterOfDisaster]

Anyone can do it. I might do it later, if nobody beats me to it.
Sorting the pubkeys in lexicographical order is very useful, because you don’t need to remember the sorting and just the “sorting algorithm”.
We should consider creating a 2-of-3 multisig address with very few funds on it, just to be more agile (which sometimes is necessary) than with 5-of-8, although I need to check whether that’s allowed.
I expect to find a motion that states otherwise.

[dysconnect]

2 groups of 2-of-3 would start to be “strictly” more agile than 5-of-8. Though I think 5-of-8 has been good enough for non-controversial transactions so far, and I’m not inclined to introduce further key management complications.

[masterOfDisaster]

5-of-8 needs to be used for the vast majority of the funds due to security reasons.
But during recent times of enormous pressure - and although the FLOT was always way faster than 36 hours! - I wished for having more agile transactions.
That subset could refill T3 custodians etc. as well regularly, while being refilled from 5-of-8 from time to time.
It would share load.

[dysconnect]

If we really have to do multiple groups of 2-of-8, why not just one big 3-of-8 holding a small amount using the same keys? It’s likely to offer roughly the same security and agility. Key management also simpler, because we only change the signing thresholds.

On the other hand, the reaction time of FLOT has only been a problem in negotiation and discussion. When something is non-controversial FLOT reaction has been pretty quick so far.

[masterOfDisaster]

I’m speaking of 2-of-3 to have the need for consensus in that group.
We have been lucky, to find 5 of the 8 signing that fast eaxh time.
NBT with 3-of-5 has shown to be way faster.
I’m still preferring 2-of-3, because I don’t think of tens of thousands of USD on that address, but a few thousands instead.

[mhps]

Anyone can do it.

I just made a 5-of-8 pubkey-sorted one from github.

address

3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe

Redeem Script

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

Shareable URL

undefined/cointoolkit/?mode=bitcoin&verify=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#verify

Above URL is copy-n-pasted and not working directly (bug? @ttutdxh ). I made a clickable verify URL here.

[masterOfDisaster]

I just made a 5-of-8 pubkey-sorted one from github.

Thank you!

3HikFkS2Zinab1TJq7dqp6wSPyLu7i7bhe

I made a test deposit to it (paranoia…).
Once that was successful and we could execute a tx from that address, we move the funds from the current multisig address to it and I adjust the OP.
I think there’s no need to hurry, we can do it with each subsequent tx, right?

Is it possible to make that post (and other FLOT related posts) a wiki type post with edit permission for FLOT members?

Here’s the test tx.

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

[mhps]

I made a test deposit to it (paranoia…).

Have we had funds sent from a multisig address to another multisig address before? Should we test it by sending a test fund from a normal address to the new multisig address, then sending part of it from the new multisig address to the old address just to make sure, for example, all the change won’t vanish into tx fee?

[masterOfDisaster]

Have we had funds sent from a multisig address to another multisig address before?

I don’t think so.

Should we test it by sending a test fund from a normal address to the new multisig address, then sending part of it from the new multisig address to the old address just to make sure, for example, all the change won’t vanish into tx fee?

Agree, should be tested as well!
I’ve initiated a transfer from a singlesig address to the new multisig address.
Once it’s there we can test that as well as the multisig-multisig later.

[mhps]

I’ve initiated a transfer from a singlesig address to the new multisig address

Thanks. I was going to send some but just found I don’t have any btc. Was about to sell other coins before saw your msg.

[masterOfDisaster]

For the greater good!

[mhps]

I’ve initiated a transfer from a singlesig address to the new multisig address.Once it’s there we can test that as well as the multisig-multisig later.

The fund is there. But when I try to create a new transaction on cointoolkit using the Multisig Redeem Script, I get an error when pressing Load

Unexpected error, unable to retrieve unspent outputs!

What is wrong?

[masterOfDisaster]

Dunno.
Using this redeem script I could sign a transaction.

[mhps]

Using this redeem script I could

Maybe the block exploerer for retrieving was not working then?

Why does the blockexplorer say the output in 0.00383550 but the new transaction page you made shows 0.003 ? @ttutdxh

a transaction.

Anyway to prove this

to make sure, for example, all the change won’t vanish into tx fee

You can’t send all balance to the old address. I suggest make one tx of 0.001 with 0.0001 fee and one tx of 0.001 with no fee.

[masterOfDisaster]

You can’t send all balance to the old address.

Why not?
Oh, wait, there’s a minimum fee in place, right?

And again - another transaction

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

that transfers 0.001 to the current multisig address, 0.001 back as change and contains 0.001 as fee.

[mhps]

signed. verify.

Other FLOT/BTC group members @jooize @Dhume @ttutdxh @cryptog @woodstockmerkle @dysconnect please sign it and finish the test.

[dysconnect]

verified and signed

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

[Dhume]

Verified and signed, is it only the BTC key that was compromoised mhps?

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

[mhps]

is it only the BTC key that was compromoised mhps

Yes. Details later…

[woodstockmerkle]

Signed, 5 of 5-of-8

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

Broadcasted. Tx ID 8045fea3f6a96ff34591f3cc94a8d7a04a28fc1632436993c397ef92077a29ab

https://blockchain.info/tx/8045fea3f6a96ff34591f3cc94a8d7a04a28fc1632436993c397ef92077a29ab