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Emergency recovery procedure unclear / incomplete #100

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Gilbog opened this issue Dec 13, 2021 · 3 comments
Open

Emergency recovery procedure unclear / incomplete #100

Gilbog opened this issue Dec 13, 2021 · 3 comments

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@Gilbog
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Gilbog commented Dec 13, 2021

I have set up the multisig accoring to the guide on testnet, and it works for verifying addresses and sending testnet coins, signing with the ColdCard and the Keystone Essential. Note: This is all on testnet.

But I get stuck trying the emergency recovery, importing the paper wallet seed into an Electrum multisig soft wallet to fill in as a 2nd signer in case one hardware wallet were lost.

The error: Electrum doesn't let me import both master pubkeys of the cosigners ColdCard and Keystone (all on testnet, i.e. Vpub, tpub, Upub ...). I create a new multisig 2-of-3 wallet in Electrum. I add the first cosigner's master pubkey. Then, when adding the second cosigner's master public key, Electrum returns an error:

  • Cannot add this cosigner: Their key type is 'standard', we are 'p2wsh-p2sh'

A similar error happens if I try the other ColdCard master public key. The error is:

  • Cannot add this cosigner: Their key type is 'standard', we are 'p2wsh'

See the screenshots of my two hardware wallets below. None of the combinations of master pubkeys work. (I also don't understand why there are several lines in the ColdCard in the first place). I have a hunch that this has to do with nested vs native segwit, but I would need more help from the guide here. Or, if someone here could point out what I'm doing wrong I would be very grateful.

The explanations in the guide on emergency recovery are quite brief and don't address (possible) testnet differences. More details would be important to win over non-techie people to multisig (like me ;) I'm hesitant now to move to a multisig setup on mainnet because I failed with emergency recovery with the paper wallet on testnet.

Thanks!

This is the ColdCard and Keystone info I can't add into the Electrum emergency recovery wallet (before I even get to entering the paper wallet mnemonic phrase)

Coldcard

Keystone

@mflaxman
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I'm going to drop all Electrum reference in the future, it was at one point the only way to do multisig, but Specter/Sparrow/Caravan are all 10x better so going forward there's not really a use-case for it.

@BrutusBondBTC
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I'm going to drop all Electrum reference in the future, it was at one point the only way to do multisig, but Specter/Sparrow/Caravan are all 10x better so going forward there's not really a use-case for it.

You can now use Sparrow as a hot wallet. What do you think about me making a pull request to add a quick video tutorial?

@mflaxman
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That'd be awesome! For standardness it has to be text/images first (easier to keep up-to-date), but eventually I'd like to have videos as well.

I'd like to add a bunch of hardware/software wallets, I'm trying to figure out what the best way to break that down is:
#116 (comment)

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