Comment by vsareto

>The idea here is that you could give keys to your friends and family, or to some sort of business service, then if you lose your key, use your friends to “vouch” for you and move the account to a new key.

>You can also do this to require approval from your friends before a certain amount of money moves out of your account, making theft significantly harder.

Okay, what if your relationship with those people changes? If you've lost your key or its destroyed (maybe as a result of those relationships changing before you've had a chance to do anything), presumably you can't remove the trust relationship with your former friends. You then can't withdraw unless your new enemies say so, and you can't change that trust relationship.

Plus what are the rules around removing the withdrawal limit? If I can just remove it at any time, how's that going to prevent theft, as I can just remove the limit before the theft?

This is now yet another security consideration for regular users. In addition to ensuring your key is backed up, you have to think about contingencies for if/when these trust relationships change.

But flip this feature on its head and give your bank this trust, and at least you have the same resiliency as your current bank account. Ironically, you likely want to trust a large entity with vast resources (presumably too big to fail) instead of friends and family if you're looking to be secure against loss of your private key.