Social Recovery Template / Inheritance

Description

Social recovery keeps you in full and exclusive control of your bitcoin while enabling a recovery path in case you lose your keys. After a predefined number of months set by the user, an m of n multisig of trusted co-signers is able to move the user funds

Between 20%-25% of all bitcoin has been lost forever by owners who lost their keys. This security feature helps you have a plan B, leveraging trusted connections like friends, family, or colleagues to regain access to your Bitcoin

Vault Configuration Example

To initiate the spending of funds via social recovery in the multisig setup, it can be accomplished either by your designated signer or by following the social recovery path. However, this is only possible once the specified timelock duration has elapsed, and it requires the authorization of at least one out of your two designated signers for recovery. [either Thomas or Lee]

image

Inputs

  • Signer keys (extended descriptor): 1 + N for recovery
  • Timestamp or block height if using an absolute timelock (after), number of confirmed blocks if using relative timelock (older)

Miniscript

or(1@pk(Key1),1@and(thresh(2,pk(RecoveryKey1),pk(RecoveryKey2)),after(TimestampOrBlockHeight)))

Output Descriptor

tr(Key1,and_v(v:multi_a(2,RecoveryKey1,RecoveryKey2),after(TimestampOrBlockHeight)))

Example

Example Output Descriptor

tr([7356e457/86'/1'/784923']tpubDCvLwbJPseNux9EtPbrbA2tgDayzptK4HNkky14Cw6msjHuqyZCE88miedZD86TZUb29Rof3sgtREU4wtzofte7QDSWDiw8ZU6ZYHmAxY9d/0/*,and_v(v:multi_a(2,[4eb5d5a1/86'/1'/784923']tpubDCLskGdzStPPo1auRQygJUfbmLMwujWr7fmekdUMD7gqSpwEcRso4CfiP5GkRqfXFYkfqTujyvuehb7inymMhBJFdbJqFyHsHVRuwLKCSe9/0/*,[f3ab64d8/86'/1'/784923']tpubDCh4uyVDVretfgTNkazUarV9ESTh7DJy8yvMSuWn5PQFbTDEsJwHGSBvTrNF92kw3x5ZLFXw91gN5LYtuSCbr1Vo6mzQmD49sF2vGpReZp2/0/*),after(840000)))