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>But when do we stop accepting transactions with ECDSA keys? I suppose at some point someone will try move 500,000 BTC from addresses that have been dead since
by MrStonedOne 5y ago
>But when do we stop accepting transactions with ECDSA keys? I suppose at some point someone will try move 500,000 BTC from addresses that have been dead since 2010. Hopefully we'll have a consensus by then.
Why would you bother?
The outcome is the same, either the user gets locked out of their coin or hackers gain access to the coin, meaning the user is locked out of the coin. There isn't a solution that doesn't resolve in one of those and if you aren't able to protect the user by doing it, why spend the effort?
- matthewdgreen 5y agoBecause if someone gains the ability to resurrect lost coins, it will massively increase the circulating supply of bitcoin overnight, causing the value of everyone’s bitcoin to crash. This effect will get worse the farther we go in the future. Some people might not be happy about this.