[cyphertruck]

Except apparently you need to be online to send them the info after you cut the note. So its not really cold storage. What if their company shuts down?

You can do cold storage by securing seeds on metal, such as titanium, or any robust material you like.

[ccamrobertson]

No, still cold storage. If the company shuts down you can use the plaintext user key to claim the funds from the note after January 3rd 2029.

[dgrove]

Is this because you have a time-locked transaction to move the funds from the P2MS to a P2PKH? How does that work when it's "re-keyed"? Wouldn't each re-key move to a new P2MS and have a transaction fee associated with it as well as have a second transaction for the HTLC transaction?

[danShumway]

How are you doing time-lock encryption in this instance? Is it based off of a separate blockchain contract or is it one of the more traditional methods?

[ccamrobertson]

OP_CHECKLOCKTIMEVERIFY in the multisig.

[dgrove]

Sure, so you add it as part of the P2MS script but that doesn't solve the issue of every re-key costing money

[godelski]

But why time lock it?

[ccamrobertson]

The time lock lets you optimistically circulate the note prior to the expiration date as even if previous holders know the user key they cannot use it to claim the Bitcoin alone.