Author: Matthew Beton 2017-08-22 17:33:41
Published on: 2017-08-22T17:33:41+00:00
The discussion on Bitcoin-dev mailing list revolves around the idea of burning 'stale' coins, which are old wallets that may be easily cracked in future due to advancement in computer technology. The proposal is to turn these coins into mining rewards instead of them just being hacked, as a better solution to force people to use newer, higher security wallets. The argument against the proposal is that it goes against the point of Bitcoin, which allows individuals to control their own money and be their own bank. The fear is that once rules are established to take away coins for some reason, it sets a precedent for more reasons to be determined in future. There is also a mention of Hal Finney, who was cryo-preserved at Alcor and may find his coins reclaimed if deemed stale in future. However, proponents of the proposal argue that it is not a matter of if but when computer breakthroughs make old outputs vulnerable, and by telling people to move their coins every once in a while, they ensure they won't be scavenged.
Updated on: 2023-06-12T03:47:18.229805+00:00