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by nvk·11y ago·view on hn ↗
We are using P2SH and multisig transactions the same as everyone else, and we tried to interop with others, but it's not easy. They problems are discussed [in the FAQ](https://coinkite.com/faq/multisig). Key generation is open and interop with brainwallet and bip32.org

We've added this to help you with that. http://cl.ly/image/0g2d3x1T3o0H/Detail%20View%3A%20Account%2...

    Do Coinkite shared accounts interoperate with other vendors?
    
    Although we are using the latest Bitcoin standards and technologies, it is hard to interoperate because of the following issues:
    
        - Both parties need to correctly track all future and past P2SH addresses.
        - Other "multisig" vendors are using P2SH and multisig in very limited ways.
        - Most other vendors are keeping one private key to themselves, which prevents any useful interop.
        - The BIP32 HD wallet paths are not well standardized.
        - Any mistake or incompatibility can lead to lost funds and very bad karma.
        
    However, to encourage progress in this area, we do include a "data export" option for one US-based exchange (Coinbase) and will add support for other vendors if it is useful. We also provide a one-click data export of all the details of the shared account, in our own simple JSON format.
    
    We cannot provide technical support for individual end-users attempting to interoperate, but we are willing to speak to other vendors and support the greater crypto-currency community.
*edit: layout
1 comments
Thanks, how can I send bitcoins out if Coinkite shuts down? Let's say I made copies of all MofN pribkeys.
Assuming you have the xprvkey for M of your N keys, then you just need to find the UTXO for your funds and publish a transaction that moves that to another key.

We list all UTXO for your account (with all the transaction hashes needed) in what we call the "audit report" and that includes multisig accounts now too. The subkey needed (M/x) is indicated in that report as well. Armed with that information, a site like ms-brainwallet can produce and send the transaction you need.

Also for you doomsday planning: we email a copy of the HSM private keys associated with your multisig account, encrypted with Coinkite master key that would be published after we shutdown. (Very similar to what we've always done with regular accounts).