š
Original date posted:2015-12-20
š Original message:What will be the actual effect over wallets?
Say I have the private key for a dormant UTXO older than the
consensus-critical maximum UTXO age. The UTXO is not part of the cache.
So I setup a full node and import my old private key (wallet.dat). Will
I even see the correct balance (where will it get if from, since it's
dropped from the cache), or it will show me a 0 balance?
If I can see the correct balance, where can I get the proof I need and
what ensures I'll always be able to get that proof?
On 12/20/2015 1:34 PM, Jeff Garzik via bitcoin-dev wrote:
> On Sun, Dec 20, 2015 at 6:24 AM, Peter Todd via bitcoin-dev
> <bitcoin-dev at lists.linuxfoundation.org
> <mailto:bitcoin-dev at lists.linuxfoundation.org>> wrote:
>
> What I proprosed is that a consensus-critical maximum UTXO age be part
> of the protocol; UTXO's younger than that age are expected to be cached.
> For UTXO's older than that age, they can be dropped from the cache,
> however to spend them you are required to provide the proof, and that
> proof counts as blockchain space to account for the fact that they do
> need to be broadcast on the network.
>
>
> Yes, this is almost what -has- to happen in the long term.
>
> Ideally we should start having wallets generate those proofs now, and
> then introduce the max-age as a second step as a planned hard fork a
> couple years down the line.
>
> However,
> 1) There is also the open question of "grandfathered" UTXOs - for those
> wallets generated in 2009, buried in a landfill and then dug out 10
> years ago
>
> 2) This reverses the useful minimization attribute of HD wallets - "just
> backup the seed"
>
>
s7r [ARCHIVE] /
npub1j3ā¦cwg9h
2023-06-07 19:46:17
in reply to nevent1qā¦e3pe
Author Public Key
npub1j3u42vq63qzs2nyddgkf4s4t7pa85x855vas54e6yauxsvpf2wcsacwg9hPublished at
2023-06-07 19:46:17Event JSON
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Original date posted:2015-12-20\nš Original message:What will be the actual effect over wallets?\n\nSay I have the private key for a dormant UTXO older than the\nconsensus-critical maximum UTXO age. The UTXO is not part of the cache.\nSo I setup a full node and import my old private key (wallet.dat). Will\nI even see the correct balance (where will it get if from, since it's\ndropped from the cache), or it will show me a 0 balance?\n\nIf I can see the correct balance, where can I get the proof I need and\nwhat ensures I'll always be able to get that proof?\n\nOn 12/20/2015 1:34 PM, Jeff Garzik via bitcoin-dev wrote:\n\u003e On Sun, Dec 20, 2015 at 6:24 AM, Peter Todd via bitcoin-dev\n\u003e \u003cbitcoin-dev at lists.linuxfoundation.org\n\u003e \u003cmailto:bitcoin-dev at lists.linuxfoundation.org\u003e\u003e wrote:\n\u003e \n\u003e What I proprosed is that a consensus-critical maximum UTXO age be part\n\u003e of the protocol; UTXO's younger than that age are expected to be cached.\n\u003e For UTXO's older than that age, they can be dropped from the cache,\n\u003e however to spend them you are required to provide the proof, and that\n\u003e proof counts as blockchain space to account for the fact that they do\n\u003e need to be broadcast on the network.\n\u003e \n\u003e \n\u003e Yes, this is almost what -has- to happen in the long term.\n\u003e \n\u003e Ideally we should start having wallets generate those proofs now, and\n\u003e then introduce the max-age as a second step as a planned hard fork a\n\u003e couple years down the line.\n\u003e \n\u003e However,\n\u003e 1) There is also the open question of \"grandfathered\" UTXOs - for those\n\u003e wallets generated in 2009, buried in a landfill and then dug out 10\n\u003e years ago\n\u003e \n\u003e 2) This reverses the useful minimization attribute of HD wallets - \"just\n\u003e backup the seed\"\n\u003e \n\u003e",
"sig": "7b05adaf9967da2b74e914cd66144d3fbdec4b400a5a8cdf838fac472c34eda42a5645d48bfd082f0ed762515373f3eef61e52bff9d7c080aed53c38044911a7"
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