Topic: Will Legacy Adresses be supported forever (Read 219 times)

thanks for showing you now see the * 4

and yes the cludge extends beying a legacy TX to falsely make a block appear as 4mb. but there in lays the cludge.. because real data. in reality(no dont redefine reality) is that blocks are not actually physically 4mb.. and thats the rub

as for the tx sat for byte thing which you think exists..
i dunno if i should laugh or just facepalm

cores wallet does not charge based on sats per byte...
they charge based on the Weight Unit principles of cludgy code math

i just showed you an example of the lines of code that have have nothing to do with straight forward sat for byte fee discovery for legacy.. because there is no standard sat for byte fee discovery for legacy. its all done via the cludge weigh unit cludge.. AS DEMONSTRATED IN REAL CODE

in short if legacy fees were straight sat/byte. there would be no cludge.. no multiplier no scale factor
just length(tx) * sats

emphases to avoid multiple posts.. hoping you can get it in just one post with needing to re post the simple fact..
if legacy was doing old normal real byte  fee costings).. without weight units... there would be no weight unit *4!! involved in a legacy fee costing code

the reason for the *4 is to premiumize legacy into making people not want to use it due to the extra premium expense they [dev-politics] added to legacy

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anyways

back to topic
there are a few wallets now that if you import a key
they default a legacy key to p2pkh and dont support p2pk.
so already support for some forms of key types have disappeared (unless you can search out a certain wallet(limiting your wallet options of free choice))

it only takes a couple lines of code to not support other type too.. and that can happen without needing any hard fork consensus decisions to approve such change.

as someone said the only option is to try to keep old node software and hope it will still sync or communicate with peers in the future should a change happen
(diminished, redefined RPC calls(INV messages) have broke the ability of some older nodes communication ability with the network)

Check the entire code not just one line of it. A lot of things are multiplied by 4 meaning if you are multiplying the legacy transaction size by 4 to get its virtual size then it is also compared by the block size (that was previously 1) that is multiplied by 4 (turning it into 4 MB).

That still doesn't make legacy transactions more expensive than before SegWit activation. A legacy transaction with 250 byte size paid 250 satoshi fee (1 satoshi/byte) before SegWit and it is still paying 250 satoshi (1 satoshi/byte) after SegWit.

I don't think it will change or become obsolete anytime soon. It's just not that efficient but as long as it's capable of transacting, why change or not support it? I think there are a lot of holders just letting their BTC sit in Legacy Addresses and that's their choice regarding where they are storing it. I just don't see it happening.

check the CODE
legacy have the * 4..
its why a 1mb block of legacy is treated as 4mb
its why a 250byte legacy is treated as 1000 weight not 250

look at the weight unit cludgy code of multiplying legacy by 4 weight

when a 1mb block has the number 1 in it natively naturally and in hard data of bard drive. but is being called a 4 in fee code.. yep its been multiplied
translation:
(non segwit tx) * (4 -1) +(1)
translation:
legacy * 4

example i recent block
https://www.blockchain.com/explorer/transactions/btc/350a367fc4071a7b9effbc3e8d5c25163cb54a566bc3e93ad00cc802d61d407e
Size: 223 Bytes
Weight: 892      223 *4 = 892
Weight Unit 56.054 sat/WU

Just because SegWit transactions are cheaper to send, it doesn't mean the legacy transactions cost has increased! The fee you pay for a legacy transaction is the same exact thing as it has been for many years before SegWit was activated.
It is aptly promoted as "SegWit discount" because SegWit transactions cost less.

many wallets can easily stop supporting legacy

some already are making it a headache just to default set the wallet to use legacy import/"change" addresses
some make it difficult to just import a key and it display the legacy balance because the default is to convert key to a segwit address for balance display of key(thus showing nothing)

having the rigmarole of having to "describe" the priv to pub setting. can easily lead to non support of certain pub settings with just a couple lines of code that doesnt require a censuses event to implement

as someone highlighted. it ends up with people hoping they kept around an old wallet to have the legacy easily usable

just take a look at the number of wallets available that just importkey and a p2pk is displayed.. .. not many left now
many still convert to p2pkh but majority lately default build privkeys into segwit display addresses, or where the wallet defaults to build a segwit wallet before the user has even decided what key types they want to use. and then when its time to want to use legacy, have to go through a process to force it

devs have already cludgy coded a 4x premium cost into using legacy (falsely promoted as a "segwit discount")
so they are doing all they can to try swaying(difficult, non default, costly) people away from using legacy

Well, it is one thing saying that it might happen.... and a whole other story to convince "full nodes" to accept it. If it does happen... a full fork needs to happen, so you will get the same amount of coins that you had on the legacy addresses. (So in theory .. you will not lose any coins, but the value of the new tokens will be questionable)

I personally think we should only "force" this issue, if some security exploit threatens Legacy addresses. (Super strong technology that might crack the encryption) 

AFAIK, bitmex used to support old type of BTC addresses for deposits but now they got bech32 only as the option. Older addresses for deposits have been removed. But they support withdrawal to all types and  still charge 0.0002 BTC for withdrawals (dunno whats the point here since bech32 withdrawal fees should be a lot lower).
However with self-custodial wallets like mycelium, I got a bech32 and a legacy address with the same priv key. Legacy will remain when you control the keys.

The only thing that would happen in the future about any of the older script types is that the wallets will stop generating them by default and possibly even remove the user-friendly option to generate an older script type wallet. Something like what Electrum did where their default wallet is a SegWit wallet instead of letting you go back to legacy that easily.

But they cannot and should not remove the capability of signing (or verifying) transactions that are spending older types of outputs or create such script types. That's because they ARE part of the Bitcoin protocol and can not be removed.

You won't lose your bitcoin if you store it in wallets with Legacy addresses. If exchanges no longer support it (but I don't believe they will do that), you can send your bitcoin to another wallet that support bech32 addresses and can send it to exchanges. No problem after that.

With private key, you can import it to have public addresses from Legacy, Native Segwit to Nested Segwit. Import, sweep private keys can help.

Agreed in fact the Legacy address is the true original address and it will supported for an infinite time. I know that lightning network and bech32 address is more fast and efficient but still legacy address still be there oh and other fact that most of rich list holder is still using legacy address

If you have private keys, you can sign your transactions and if your transaction fee for miners are good enough, they will confirm your transactions.

Bitcoin transactions can be from personal wallets to personal wallets, personal wallets to exchange wallets. You don't always need exchange support to move your bitcoins if it is from personal wallet to another personal wallet.

For receiving bitcoin, it works for all types of wallet addresses but to withdraw, you must get support from exchanges. If you make a transaction to deposit to your account on one exchange, and they say you did not receive your bitcoin because they don't support that address type, they lie and try to scam you.

I don't see any reason for the removal of the old and legacy address, I mean if you are talking about the total deletion of these addresses that are not going to happen, and even if it happens there will be many unhappy legacy bitcoin owners they prefer to use their old address, however, they can maybe have the plan to transfer all the funds from legacy wallets to segwit wallets and this some be more like adoption, but still, that's not something we can talk about it anytime soon because of many users using these addresses.

Nah, I don't think that legacy addresses will be outdated or being removed by Bitcoin core. And that is the beauty of  the software that Satoshi developed, it's backward compatibility.

Maybe people are seldomly using it right now, but it doesn't mean it's going to be obsolete.

And for the majority here, some of us have still this legacy addresses.

The great thing about Bitcoin is that it's so simple and is always(I'm pretty certain, but someone far more technically-gifted please confirm this for me) backwards-compatible. Chances are, if you held bitcoin on a wallet/address that you used in 2009, that you can still move out the funds in the future.

Bitcoin Core developers never remove stuff from the protocol. They can disable stuff, like the alert messages, so while legacy addresses won't be outlawed (as in Bcash?), the most likely scenario is Bitcoin Core gets its legacy address walled generation code removed instead, so from the principle wallet. But that's still not from the protocol.

The options would only increase over time, but I guess the support for legacy address will remain. What's the cost of not removing it? What's the cost of removing it? There's probably not much reason to remove it. Although a bit discouraged nowadays, and probably very few would be using it in the decades to come, there will surely remain wallets that offer legacy support. As a matter of fact, there might also come a time in the unforeseeable future when both SegWit and Native SegWit addresses would no longer be the most popular addresses, but support for them might still remain.

I don't think legacy addresses will get removed, at least not from Bitcoin Core. It could happen on particular wallets (those developed by third parties) but in general there is no good enough reasons to stop supporting legacy formats.

I am personally comfortable with the current approach: implementing more efficient formats and let people to slowly migrate to those with time.
Also, Legacy addresses have historical and cultural significance for the Bitcoin community, in my opinion.

I don't think there is a concrete problem, with the inherited address from which the private key is still the same, because basically system updates often occur in all wallets, until now the signer is still safe in my opinion,

I never thought it would disappear, because instead of the first address it was the initial key for one of our wallets, and in the end it could be used in other wallets
and it happens to altcoin wallets too doesn't it