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Topic: Change in BIP32 will make Trezor 1.0 useless? - page 2. (Read 1498 times)

newbie
Activity: 56
Merit: 0
Thats what i've always said, ironically, there's nothing better than paper to store Bitcoins long term. Nothing better than plastic wrapped encrypted paper wallet which is possible since BIP38 was implemented. I don't really see the point for hardware wallets which are prone to failure and deprecation through software updates. A paper wallet as far as I know, will always remain functional forever.

I tend to agree. Of course it might seem scary that if this feature could be implemented...maybe it could be de-plemented.... and everyone given a 1 year warning to "transfer to the new system". Sadly... everyone being busy with other projects and only checking up on bitcoins every blue moon.. or every 5 years... too bad - so sad.

I think many will want a storage of wealth that they can store and forget about for 10 or more years.. and currently there a some pitfalls with bitcoin...
legendary
Activity: 868
Merit: 1006
Thats what i've always said, ironically, there's nothing better than paper to store Bitcoins long term. Nothing better than plastic wrapped encrypted paper wallet which is possible since BIP38 was implemented. I don't really see the point for hardware wallets which are prone to failure and deprecation through software updates. A paper wallet as far as I know, will always remain functional forever.
newbie
Activity: 56
Merit: 0
Having bitcoins in a hardware wallet is a scary proposition. At least if the idea is to put it in and forget it for 10 years or so... Because with the speed of software changes - it is likely that in 10 years it will be very difficult if not almost impossible to access such an ancient system with much more modern software.
hero member
Activity: 490
Merit: 500
Captain
First of, sorry to bitch, it would be nice if you could quote from the video so you don't have to watch the video to know what this is all about.

Kinda obvious, if you change the bitcoin protocol so it is not backwards compatible, then will you have a problem with old wallets.

I guess keeping bitcoin protocal unchange to the end of time is wishful thinking, but I think eventually USB will be obsolete anyway, so computer tech development will eventually kill Trezor 1.0.
legendary
Activity: 1512
Merit: 1012
What's going to change in BIP32?
hero member
Activity: 560
Merit: 502
Interesting problem. As we mainstream, as more services and devices are available, the more resistant to change the protocol will become.
hero member
Activity: 812
Merit: 509
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