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So a lot of these comments seem to be criticisms of potential vulnerabilities (which is par for hacker news really). I'm curious if there are better alternatives out there that aren't vulnerable to the same issues, like a single point of failure or attack?

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You could do secret splitting:

http://www.moserware.com/2011/11/life-death-and-splitting-se...

It's vulnerable in that whichever threshold N that you choose allows for N participants to conspire to publish ahead of time, or M - N to conspire not to publish after the fact.

interesting. i hadn't seen this although I implemented something effectively the same, except that all keys (which could be any number ≥ 2) be combined to reveal the secret (or any information about it).

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