4 ms·
The main issue I have with wallets, which is not really addressed in the article, is that the wallet formats seem to be continually changing. Will the software
by dabeeeenster 9y ago
The main issue I have with wallets, which is not really addressed in the article, is that the wallet formats seem to be continually changing. Will the software work with your wallet format in 10 years time when you finally want to cash in your coins? What do you do if it doesn't?
- luismmolina 9y agoChanging??
- fpgaminer 9y agoYou stick with open source wallets; problem "solved". Obviously having to dig up old software and potentially having to make modifications to extract what you need from them is not ideal, but at least it's possible. That said, the lowest common denominator methods of storing coins long term are pretty stable. They're just paper/metal/stone tablets/flesh with a 256-bit key encoded on them. Hard for that encoding to age any worse than, say, floppy disks which you can _still_ buy drives for today.
- nannal 9y agoYour private keys will always work.
- Retric 9y agoAssuming no crypto vulnerabilities are discovered.
- meesterdude 9y agoWhile yes it's prone to various known/unknown attack vectors, and each crypto has a different surface area (like ethereum's smart contracts) The public/private key being one of them is unlikely. Computationally, cracking that takes a monumental amount of computing power that doesn't exist yet.
- just_one_time_ 9y agoThrowaway comment
- statoshi 9y agoIf you use a wallet that follows the standard conventions for generating addresses (BIP32 and such) then yes.
- csomar 9y agoThere is a standard called BIP39 for generating deterministic keys. If your wallet follows that, you can be compatible with any other wallet.