Nick Neuman(@Nneuman):Remember that zero BTC was lost from multisig setups in the Coldcard incident, whether they had a passphrase or not. A passphrase is not necessary in multisig. Adds complexity and a foot gun to your setup that actually makes it less resilient. Without a passphrase you just need the hardware wallet, with it you need both, and it’s a lot easier to lose a passphrase than hardware. Multiple keys gives you enough protection.

Nick Neuman

@Nneuman

Reinventing the Swiss bank for the sovereign individual | CEO & Cofounder of Casa @CasaHODL.

Joined June 2011

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Nick Neuman@Nneuman

2026.08.20 19:02

Remember that zero BTC was lost from multisig setups in the Coldcard incident, whether they had a passphrase or not. A passphrase is not necessary in multisig. Adds complexity and a foot gun to your setup that actually makes it less resilient. Without a passphrase you just need the hardware wallet, with it you need both, and it’s a lot easier to lose a passphrase than hardware. Multiple keys gives you enough protection.