Topic: Solution to lost wallets - page 4. (Read 679 times)
no
This is not a proposal of forking network!
By timestamping first wallet transaction with real time date/hour/seconds into ledger history, bitcoin core software nodes can make an agreement that if, for example:
during the next 2 years the wallet's public address that was timestamped do not output any Tx, bitcoin nodes take those funds and place them into next block header.
If a public address will make a new output tx with any amount of tokens will be re-stamped with date that was realized the last tx.
If the public address won't put a minimum of 1 transaction in 2 years, those funds from public address will be moved into next block of transactions.
I know it sounds easy. But to translate into coding, it is very hard to accomplish.
In bitcoin is harder to be implemented due to multi-sig public keys .
I cannot see another solution to this problem, which can become very important in far future.
I would call this process (Proof of owner's wallet)
If we can see this is helpful to each wallet owner why not I agree with you sometime we cannot predict tragedies and hackers are always find a way they can get any wallet we must need more secured and safety processes.
By timestamping first wallet transaction with real time date/hour/seconds into ledger history, bitcoin core software nodes can make an agreement that if, for example:
during the next 2 years the wallet's public address that was timestamped do not output any Tx, bitcoin nodes take those funds and place them into next block header.
If a public address will make a new output tx with any amount of tokens will be re-stamped with date that was realized the last tx.
If the public address won't put a minimum of 1 transaction in 2 years, those funds from public address will be moved into next block of transactions.
I know it sounds easy. But to translate into coding, it is very hard to accomplish.
In bitcoin is harder to be implemented due to multi-sig public keys .
I cannot see another solution to this problem, which can become very important in far future.
I would call this process (Proof of owner's wallet)
If we can see this is helpful to each wallet owner why not I agree with you sometime we cannot predict tragedies and hackers are always find a way they can get any wallet we must need more secured and safety processes.
Well, let's say u create your first wallet.
You generate your first public key , your friend will send you 1 btc, that transaction will be stamped with a /year/hour/minute/second , if that public key won't put any output transactions from that stamp for 2 years, it will mean that owner lost his private key and he lost private key.
If that wallet will generate at least 1 output transaction, the timestamp will be reseted to the time when that transaction was made.
So, i know is harder for multi-sig wallet, because you can unlock an infinite public addresses, it is hard, but should be a solution if only 1 transaction will be realised from that private key with multi-sig to reset the countdown time .
You can make an output transaction by sending few satoshi from one public address to another public address from same wallet due to multi-sig condition.
If owner lost his wallet private key, he cannot put any output transactions, therefore if wallet is lost, nodes should agree all of them, those funds should be moved either in the next block reward for miners, or adding a new block in year 2140
If group that created bitcoin cannot say anything, maybe community can implement a similar solution .
You generate your first public key , your friend will send you 1 btc, that transaction will be stamped with a /year/hour/minute/second , if that public key won't put any output transactions from that stamp for 2 years, it will mean that owner lost his private key and he lost private key.
If that wallet will generate at least 1 output transaction, the timestamp will be reseted to the time when that transaction was made.
So, i know is harder for multi-sig wallet, because you can unlock an infinite public addresses, it is hard, but should be a solution if only 1 transaction will be realised from that private key with multi-sig to reset the countdown time .
You can make an output transaction by sending few satoshi from one public address to another public address from same wallet due to multi-sig condition.
If owner lost his wallet private key, he cannot put any output transactions, therefore if wallet is lost, nodes should agree all of them, those funds should be moved either in the next block reward for miners, or adding a new block in year 2140
If group that created bitcoin cannot say anything, maybe community can implement a similar solution .
Ahh I don't understand this at all. Can you shed more light
This is not a proposal of forking network!
By timestamping first wallet transaction with real time date/hour/seconds into ledger history, bitcoin core software nodes can make an agreement that if, for example:
during the next 2 years the wallet's public address that was timestamped do not output any Tx, bitcoin nodes take those funds and place them into next block header.
If a public address will make a new output tx with any amount of tokens will be re-stamped with date that was realized the last tx.
If the public address won't put a minimum of 1 transaction in 2 years, those funds from public address will be moved into next block of transactions.
I know it sounds easy. But to translate into coding, it is very hard to accomplish.
In bitcoin is harder to be implemented due to multi-sig public keys .
I cannot see another solution to this problem, which can become very important in far future.
I would call this process (Proof of owner's wallet)
P.S Timestamp can be from 2 years up to 200 years, 2 years is as an example
By timestamping first wallet transaction with real time date/hour/seconds into ledger history, bitcoin core software nodes can make an agreement that if, for example:
during the next 2 years the wallet's public address that was timestamped do not output any Tx, bitcoin nodes take those funds and place them into next block header.
If a public address will make a new output tx with any amount of tokens will be re-stamped with date that was realized the last tx.
If the public address won't put a minimum of 1 transaction in 2 years, those funds from public address will be moved into next block of transactions.
I know it sounds easy. But to translate into coding, it is very hard to accomplish.
In bitcoin is harder to be implemented due to multi-sig public keys .
I cannot see another solution to this problem, which can become very important in far future.
I would call this process (Proof of owner's wallet)
P.S Timestamp can be from 2 years up to 200 years, 2 years is as an example
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