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Date: Wed, 11 Mar 2015 16:50:27 -0700
From: devrandom <c1.sf-bitcoin@niftybox.net>
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To: Mike Hearn <mike@plan99.net>, Aaron Voisine <voisine@gmail.com>
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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Electrum 2.0 has been tagged
Precedence: list

I'd like to offer that the best practice for the shared wallet use case
should be multi-device multi-sig.  The mobile has a key, the desktop has
a key and a third-party security oracle has a third key.  The oracle
would have different security thresholds for countersigning the mobile.

This way you can have the same overall wallet on all devices, but
different security profiles on different keys.

That said, I do agree that mnemonic phrases should be portable, and find
it unfortunate that the ecosystem is failing to standardize on phrase
handling.

On 2015-03-11 04:22 PM, Mike Hearn wrote:
> Users will want to have wallets shared between devices, it's as simple
> as that, especially for mobile/desktop wallets. Trying to stop them from
> doing that by making things gratuitously incompatible isn't the right
> approach:  they'll just find workarounds or wallet apps will learn how
> to import seeds from other apps. Better to just explain the risks and
> help people mitigate them.
> 
> On Wed, Mar 11, 2015 at 3:57 PM, Aaron Voisine <voisine@gmail.com
> <mailto:voisine@gmail.com>> wrote:
> 
>     I'm not convinced that wallet seed interoperability is such a great
>     thing. There is a wide variability in the quality and security level
>     of wallet implementations and platforms. Each new device and wallet
>     software a user types their seed into increases their attack surface
>     and exposure to flaws. Their security level is reduced to the lowest
>     common denominator. I see the need for a "fire exit", certainly, but
>     we must also remember that fire exits are potential entrances for
>     intruders.
> 
>     Aaron Voisine
>     co-founder and CEO
>     breadwallet.com <http://breadwallet.com>
> 
>     On Wed, Mar 11, 2015 at 12:46 PM, Gregory Maxwell
>     <gmaxwell@gmail.com <mailto:gmaxwell@gmail.com>> wrote:
> 
>         On Wed, Mar 11, 2015 at 7:24 PM, Ricardo Filipe
>         <ricardojdfilipe@gmail.com <mailto:ricardojdfilipe@gmail.com>>
>         wrote:
>         > i guess you look at the glass half full :)
>         > even though what you say is true, we should aim for wallets not to
>         > require those instructions, by standardizing these things in BIPs.
>         > let's hope bitcoin doesn't fail in standards as our industries have in
>         > the past...
> 
>         There are genuine principled disagreements on how some things should
>         be done. There are genuine differences in functionality.
> 
>         We cannot expect and should not expect complete compatibility.
>         If you
>         must have complete compatibility: use the same software (or
>         maybe not
>         even then, considering how poor the forward compatibility of some
>         things has been..).
> 
>         What we can hope to do, and I think the best we can hope to do,
>         is to
>         minimize the amount of gratuitous incompatibility and reduce the
>         amount of outright flawed constructions (so if there are choices
>         which
>         must be made, they're at least choices among relatively good
>         options).
> 
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> ------------------------------------------------------------------------------
> Dive into the World of Parallel Programming The Go Parallel Website, sponsored
> by Intel and developed in partnership with Slashdot Media, is your hub for all
> things parallel software development, from weekly thought leadership blogs to
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-- 
devrandom / Miron