I've been wondering about cold storage multi sig security.
Specifically, I was wondering how secure it is with respect to a kidnapper. If a kidnapper took X hostage, and threatened to kill him, X would simply share the other members (ie Y, Z), required to submit a transaction. In that case, X could be forced to call Y & Z, and tell them some arbitrary reason he needed them to sign on such short notice, (or even tell them the truth if he really feared for his life), and Y and Z would certainly sign to keep their friend X alive.
Please let me know if I'm missing something in the above scenario...
Because of the above scenario, I was wondering if it is possible to require a wait time between signatures in a multi sig.
That would result in a kidnapper needing to hold X hostage for, say 1 week, before Y's signature would be valid, and possibly another 1 week before Z's signature would be valid. This seems a lot safer since the attack cannot be completed as quickly and an attacker would need to 'not get caught by police' over a much longer time frame.
I've looked at
OP_CHECKSEQUENCEVERIFY but I have never played with script yet so I'm not sure I totally understand.
Would something like the below work?
"+1week" CHECKSEQUENCEVERIFY DROP <X pubkey> "+2week" CHECKSEQUENCEVERIFY DROP <Y pubkey> "+3week" CHECKSEQUENCEVERIFY DROP <Z pubkey>