I'm implementing multisig addresses which is a great solution to a problem, but as far as I can see there's no way to create the multisig address without knowing all the private keys at the start. Isn't that a single point of failure? Whatever system creates the multisig address knows all the private keys.
I was expecting to be able to create a partial multisig address (me) pass the hex result to someone else to add their private key and then off to the escrow to add their private key... kinda like signing of multisig transactions.
You can see in Gavin's example he has all 3 keys at the begining: https://gist.github.com/gavinandresen/3966071