Part 4/13:
They discuss tools like Caravan, which facilitates multi-sig setups, and the critical importance of securely saving backup files. The conversation reveals that losing the key or misplacing the recovery file is akin to throwing away a treasure map — the digital equivalent of Morgoth’s fire in Mordor. The group underscores that best practices include saving a sovereign recovery file, which grants individuals the ability to recover their funds independently—especially vital in case a service provider collapses.