FLOT BTC Operations (buy side)

Verified, signed and broadcasted:


Txid: 9428d235ab8eda1bb21036805b80b12346b32d44e66c60a35e8198d40d57637f

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I might try my hand at crafting a txn next week. y’all forgot the T3, hehe. No big deal, I still have some buy side and plenty of sell side left. Maybe this week will see people buying back all the nbt they sold last week.

But I forgot only the sell side of your T3 custodianship in the calculation :wink:
After all it shouldn’t have mattered much…

Refilling the BTC can be made separately - forgot that as well…

don’t worry about the T3 stuff, just got a trade.
approx. current reserves: $1714.96 NBT | $3376.16 BTC

My private BTC multisig key was compromized. I am working with @ttutdxh to replace my key.
The probability that someone gets my key is low. Using it to sign something I don’t want to sign and causing harm is even less probable because 4 other FLOT members have to sign it. Still I will explain what happened after a new address is made and the current one is not used.


I have updated my key post by adding comments with the new key and URL to this post.

@ttutdxh has merged my pull request to make the change to cointoolkit.

@masterOfDisaster can you please update OP to change my quoted text from the key post?
edit to add: the transaction in OP will need to be changed although the current one is needed to transfer fund, I suppose.

Shouldn’t we create a new multisig address using your new pubkey and transfer all funds there?

Yes, I think that is the right procedure. Was it @ttutdxh who made the last multisig address? I can make one but Imaybe we should we let @ttutdxh do it ?

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.

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.

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.


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.

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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.

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



Redeem Script


Shareable URL


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

Thank you!

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.


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?

I don’t think so.

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.

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.

For the greater good!

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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

:exclamation: Unexpected error, unable to retrieve unspent outputs!

What is wrong?