Author: Wladimir 2013-12-16 11:37:04
Published on: 2013-12-16T11:37:04+00:00
In an email exchange between Jim and Wladimir on December 16, 2013, Jim proposed that for the HD version of MultiBit, they should remove the import of individual private keys altogether and only support HD addresses. This was suggested primarily for safety reasons. Wladimir agreed with Jim's proposal and expressed his desire to implement the same in Bitcoin-Qt as well. The reason being that there are too many stories of people losing part or all of their coins due to outdated backups, which is more common than fee mess-ups. To address this issue, Wladimir suggested using deterministic wallets and replacing the importing of private keys with a "sweep" function. This would make regular backups optional, instead of mandatory.
Updated on: 2023-06-07T22:31:36.323459+00:00