https://en.bitcoin.it/wiki/Shamir_Secret_Snakeoil https://en.bitcoin.it/wiki/Shamir_Secret_Snakeoil More on the subject of the post, this is now the third near

https://en.bitcoin.it/wiki/Shamir_Secret_Snakeoil https://en.bitcoin.it/wiki/Shamir_Secret_Snakeoil More on the subject of the post, this is now the third near-miss company destruction I've heard about due to SSS. Hopefully some of the others will make their stories public. The snakeoil page linked above doesn't really get into "when it's secure against you". One of the other stories I heard that was most similar to the paypal one failed for a different reason than password truncation: Since they needed the key very infrequently and most participants never (since the threshold was met by other parties) too many people forgot their passwords. A better way to use it would be to always enter all the people who were not outright unavailable and consider it a serous failure for any party to be unavailable too often.