Topic: Lets say they upgrade bitcoin will my public and private key still work - page 2. (Read 1464 times)
August 22, 2018, 05:09:23 AM
I think it will work, Simply keep your seed expression physically sheltered. Try not to spare it on a notebook on your telephone/PC. On the off chance that you intend to store your bitcoins for long, I recommend you purchase an equipment wallet to guard your assets.
August 22, 2018, 05:01:11 AM
Basically, it relies upon the update and the purpose behind that overhaul. But what I believe is that there will be no such update which may harm the user's accounts. Particularly coins safety is a major concern for this technology to survive. So, I will suggest you follow the security steps and stay updated with the market.
August 22, 2018, 04:48:40 AM
For your interest about the redesign of bitcoin, on the off chance that it happens, I figure it won't get to losing of coins. Updates are typically made to make an application or office work better by including new innovation and obliging the current one.
August 21, 2018, 10:18:07 PM
i created a wallet form web wallet
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
Wait, you're going to store your bitcoins for holding in a web wallet? At least use a software wallet like Electrum to keep them and then make back-ups.
Stored this way, it should be safe during updates, at least concerning splits. However, you are an investor, you don't leave your investment unattended. It's not that hard to keep updated on news and then act accordingly.
I have seeds and address that have coin its private key extracted from jaxx...
Now it wont touch internet till 2025
Is it safe???
no it is NOT safe for many reasons.
first and most important is that you created your wallet while being online. that means you automatically weren't in a safe environment while creating your wallet and keys. it might have leaked and you don't know it yet. if you want to to store bitcoin for long term then learn about cold storage https://en.bitcoin.it/wiki/Cold_storage
second is the fact that blockchain.info stores your wallet on their servers. it will be encrypted but who knows what they do, it is still stored by a third party and some day it may be easily accessed and then hacked.
August 21, 2018, 03:25:13 PM
I think, you are not the only one, who are going to perform that, so they are definitelly having some opportunites for those guys. I dont think that something would change in the ways you will get an access to your BTC.
August 21, 2018, 11:11:02 AM
I think it will still be working. Whatever update they make, there generally exists backward compatibility. But for your own safety, you need to keep updated with the technology in my opinion. So that no harm can be done.
August 21, 2018, 10:53:58 AM
I don’t think they will make such update that doesn’t have backward compatibility. So the chances of your keys not working are pretty low. But I guess you should keep yourself updated with the system.
August 21, 2018, 06:41:12 AM
i created a wallet form web wallet
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
Wait, you're going to store your bitcoins for holding in a web wallet? At least use a software wallet like Electrum to keep them and then make back-ups.
Stored this way, it should be safe during updates, at least concerning splits. However, you are an investor, you don't leave your investment unattended. It's not that hard to keep updated on news and then act accordingly.
I have seeds and address that have coin its private key extracted from jaxx...
Now it wont touch internet till 2025
Is it safe???
August 21, 2018, 06:28:34 AM
i created a wallet form web wallet
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
Wait, you're going to store your bitcoins for holding in a web wallet? At least use a software wallet like Electrum to keep them and then make back-ups.
Stored this way, it should be safe during updates, at least concerning splits. However, you are an investor, you don't leave your investment unattended. It's not that hard to keep updated on news and then act accordingly.
August 21, 2018, 06:12:01 AM
i created a wallet form web wallet
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
It's possible to change or upgrade a coin but with the performance of Bitcoin these days, it would be impossible to do it. It need a thorough study if they want to change this coin.
August 21, 2018, 06:05:10 AM
i created a wallet form web wallet
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
and an keeping safe 12 words and a bitcoin address public key and private key
and that single public address has all bitcoin now i m never going to use that wallet as i m going to hold bitcoin till 2025
my question is what if community tries to upgrade bitcoin and is it possible that that private key wont work because of upgrade.....as i see back in 2011 people use to keep bitcoins on a hard drive ....
i just want to know would i be able to recover my funds as long a i have my private key whatever happens to technology....
Well if that happened for sure they will think what can be the possible effect of upgrading bitcoin, possible that they have a solution for that or maybe they will make a way for all of has that keeping our private key, public key, address and many more before they will upgrade bitcoin. They know that there are lots of cons of possible upgrade of it, so for sure they will handle it and make a good confirmation for it apply.
August 21, 2018, 05:17:47 AM
Development of technology is not supposed to cause problem regarding public keys and private keys. But I think you should check your wallet time to time as it is going to hold BTC for such a long time.
August 21, 2018, 05:13:17 AM
I don't think you have to worry about losing your funds when the bitcoin system is upgraded, because they don't change anything from your wallet and your private key can still be used until 2025.
maybe those who lose bitcoin on their hard drive because they don't update regularly and if you use a web wallet, of course the web wallet will always update it regularly
maybe those who lose bitcoin on their hard drive because they don't update regularly and if you use a web wallet, of course the web wallet will always update it regularly
August 21, 2018, 04:52:22 AM
it depends on the upgrade and the reason for that upgrade.
99.99% chance is that all the changes that are made to bitcoin will not concern the way key pairs work and it will remain backward compatible which means the keys you create in 2009, 2010,...2018,... will still work in 2025,...
but there is a tiny chance that some day in the future we find a weakness in ECC and decide we need to move to a new cryptography method for key pairs. in which case the old keys may become obsolete. but as i said this chance is nearly zero. but it is best to keep updated at least every year.
I agree with your opinion!99.99% chance is that all the changes that are made to bitcoin will not concern the way key pairs work and it will remain backward compatible which means the keys you create in 2009, 2010,...2018,... will still work in 2025,...
but there is a tiny chance that some day in the future we find a weakness in ECC and decide we need to move to a new cryptography method for key pairs. in which case the old keys may become obsolete. but as i said this chance is nearly zero. but it is best to keep updated at least every year.
Much depends on the update or upgrade of the Bitcoin network!
Since there are many altcoin after you miss the Swap time, all your coins are not valid in the new network! Of course, Bitcoin is a big coin, this ability is almost also very unlikely!
August 21, 2018, 04:46:04 AM
it mostly depends on the how the updates system is but hopefully it will work, if you want to keep your money safe then a high quality wallet is highly required, you can use hardware wallet most people say it is more safer, anyways we really hope that if you follow the instructions then updates will not effect on your wallet safety
August 21, 2018, 04:18:50 AM
before doing any kinds of updates the authority make sure it that the investors don't have to face any problem because of it but sometimes it depends on the updates purpose if it will effect or not but hopefully we don't have to face any issues for acessing our wallet
August 21, 2018, 01:58:19 AM
i created a wallet form web wallet
and an keeping safe 12 words and a bitcoin address public key and private key
and an keeping safe 12 words and a bitcoin address public key and private key
the important thing you have to keep in mind is that a "private key" is universal. which means if you store the private key like this:
Code:
5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF
it will work forever and in any wallet application. it doesn't matter how you created it as long as it was a safe way, it will work and it won't change.but when you are talking about words aka seeds or some call it recovery phrase, in some cases the wallets may implement their own specific method of getting the keys from the seeds. for example
Code:
slim sugar lizard predict state cute awkward asset inform blood civil sugar
this is an Electrum seed. it will not work on other wallets and in order to recover your coins you need to either use Electrum or modify the code in another application/tool in order to get the keys and be able to use them.it is not a big deal since all of the good wallets like Electrum are open source but it is best to know it now rather than having to figure it out and dealing with it later. and also you need to check what the wallet you are using (the web wallet you mentioned) is using for its Seed generating method.
August 21, 2018, 01:58:04 AM
As bitcoin follows the blockchain technology i think on transaction there are not any problem occured. whatever the system upgraded or not. your public and private key will work.
August 21, 2018, 01:36:40 AM
I do not think there is any need to update the Bitcoin. But I am appreciating your thoughts. I think Bitcoin does not seem to have any further upgrades in this transaction.
August 21, 2018, 12:26:57 AM
I think there is no need to upgrade this bitcoin. Because it is really providing secure transaction facilities via blockchain technology. I do not think there is a need to update it again.
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