Regarding ColdKey, the project may look cool and satisfy some coiners' egos or whatever, but from the very beginning it was an idea based on trusting the creator, which is an instant no-no when it comes to Bitcoin. I personally would not trust my keys to anyone (not even my parents or siblings or GF/wife or whoever else). Not because I don't love them or trust them in the general sense. But it is a fact that all of us are human beings and are thus prone to mistakes and weaknesses, which can lead to compromising the security of whatever it is we want to protect.
When it comes to Bitcoin, you keep a low profile, NEVER reveal your keys to ANYONE, never advertise specific amounts or even ownership of any coins, never brag about how rich you are, and never compromise your OPSEC.
There's no need for ColdKeys. The best ColdKey is stored in our neurons, and should stay in there, and stay immaterial. Just like Bitcoin.
I agree with everything you've wrote, but I disagree if you wouldn't trust anyone with your keys because we're humans, we're not eternal in this world and we don't know when we left this world. When it comes to Bitcoin, you keep a low profile, NEVER reveal your keys to ANYONE, never advertise specific amounts or even ownership of any coins, never brag about how rich you are, and never compromise your OPSEC.
There's no need for ColdKeys. The best ColdKey is stored in our neurons, and should stay in there, and stay immaterial. Just like Bitcoin.
I don't think you would abandon all of your money you've make until right now, there's must be someone need to take over your Bitcoin and continue your journey to hold it.
At least your child need to know your keys, of course after they're matured, know about Bitcoin and already understand about money management.
If you die without giving the keys to anyone, the value of your stash will be distributed among all existing Bitcoiners...
I suspect frozen stale addresses with no outgoing withdrawals will one day be forfeited and add to mining rewards. Maybe starting in 2064 as the 2009 transaction would be 55 years old.
So never having a death plan for your coins means they will likely go back to miners one day.
That would mean a fork right?
I doubt that the majority of users/money prefer a fork where coins can be moved without having the keys. There are already enough shitcoins
Besides that whole idea is utter crap. Who would decide the exact time limit and why would you suspect the coins to have no rightful owner?
You can pass your keys to your descendants for generations without moving the coins.
Be prepared for some JJG batslapping
We are talking about human beings. So block 1000 or 1009 what ever never withdrawn or moved.
year 2064 55 years stationary . I am 107 in 2064 so not for me.
Very easy peasy to say any block 55 years old needs to show it is not lost. Just move some coin from it.
In fact you have control of said block and address you can leave 50 coin in it. just add 0.001 and then remove 0.001 to prove it is not abandoned.
I will very likely be long gone by 2064 but rewards will be tiny and all those fat frozen blocks from 2009 will look very very very very very tempting.
Think of what 50 coins could be worth in 2064 2 or 3 million a coin 100 or 150 million dollars.
I truly would love to see that action when and if it happens.
