Author: Gregory Maxwell 2013-12-16 18:45:57
Published on: 2013-12-16T18:45:57+00:00
In December 2013, a discussion was held on the topic of Bitcoin wallet security. The conversation revolved around using deterministic wallets and making regular backups optional to retain label and transaction data. It was suggested to replace importing private keys with a 'sweep' function. Additionally, it was proposed that structured key-management should be made possible. Users should be able to hit a "retire keys/keys possibly compromised" button which creates a new seed and forces the user to make a backup and allows more than one; then switches to the new seed and moves all their coins. Mike Hearn expressed his concern about badly designed software that looks appealing will always be a danger. The service does a number of things that are so dangerous that people should not be doing them. Thus, not using the site would turn into big education efforts rather than just using another similar service.
Updated on: 2023-05-19T17:56:15.500749+00:00