That's different than using Shamir's Secret Sharing [1] to split the private key/seed across multiple safe deposit boxes. If one safe deposit box full of gold

That's different than using Shamir's Secret Sharing [1] to split the private key/seed across multiple safe deposit boxes. If one safe deposit box full of gold is stolen, that portion of the gold is gone. If a safe deposit box containing 1/5th of a Shamir's Secret Sharing secret is stolen, the secret can't be reconstructed by the thief, but can be reconstructed by the owner if they still have access to 3 of the 5 pieces (for example). [1] http://en.wikipedia.org/wiki/Shamir's_Secret_Sharing http://en.wikipedia.org/wiki/Shamir's_Secret_Sharing