[icebraining]

Why not just use the hybrid approach described in the linked page? Encrypt the bitcoin key with a block cipher, then encrypt that key with SSS.

[cryptophile]

It would be enough to attack the machine holding the decrypted bitcoin key in order to steal the money. So, you still have that dreaded single point of failure problem there.

The security solution consists in forcing the attacker to attack lots of machines and successfully control them in order to steal the money.