Not every bitcoin principle can be applied to Nostr and this is an example of that.
If your nostr private key is compromised, that doesn't invalidate that you own your identity and everything that you have created in your lifetime. Your identity existed before Nostr and can exist on an infinite number of social media.
What happens with a compromised private key is that someone else *also* gains access to your nostr account. That access does not grant them ownership and luckily they can't (yet) lock the real owner out from their own account. You can re-direct your subscribers to a new account and the impostor will not likely convince rational individuals. Having several social media reduces the risk of false account-redirection.
This is a fundamental difference between Bitcoin and Nostr. Bitcoin is a finished monetary protocol where we know the security mechanisms and they have been fire-tested for 14 years. We can send any amount of bitcoin to different addresses/wallets, thereby deciding our own security level per address/wallet. Since Bitcoin is the optimal monetary protocol it makes sense to be Bitcoin-only. Not your keys, not your bitcoin; they will literally be stolen if the private keys to a particular address are compromised.
There will always be a variety of communications channels. We can't know for certain what the Nostr security model will look like 5 or 10 years from now.
Leo Fernevak
npub1y0…zfvpl
2023-03-16 13:54:27
in reply to nevent1q…wezq
Author Public Key
npub1y02f89rpykzhqmrjjz99uwgyl9gh06sg0vpjmklu62rzxpx8mxps7zfvplPublished at
2023-03-16 13:54:27Event JSON
{
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"pubkey": "23d49394612585706c72908a5e3904f95177ea087b032ddbfcd2862304c7d983",
"created_at": 1678971267,
"kind": 1,
"tags": [
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[
"p",
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"content": "Not every bitcoin principle can be applied to Nostr and this is an example of that.\n\nIf your nostr private key is compromised, that doesn't invalidate that you own your identity and everything that you have created in your lifetime. Your identity existed before Nostr and can exist on an infinite number of social media.\n\nWhat happens with a compromised private key is that someone else *also* gains access to your nostr account. That access does not grant them ownership and luckily they can't (yet) lock the real owner out from their own account. You can re-direct your subscribers to a new account and the impostor will not likely convince rational individuals. Having several social media reduces the risk of false account-redirection.\n\nThis is a fundamental difference between Bitcoin and Nostr. Bitcoin is a finished monetary protocol where we know the security mechanisms and they have been fire-tested for 14 years. We can send any amount of bitcoin to different addresses/wallets, thereby deciding our own security level per address/wallet. Since Bitcoin is the optimal monetary protocol it makes sense to be Bitcoin-only. Not your keys, not your bitcoin; they will literally be stolen if the private keys to a particular address are compromised.\n\nThere will always be a variety of communications channels. We can't know for certain what the Nostr security model will look like 5 or 10 years from now.",
"sig": "182735274bc01b2f6c4df63a70350d99df799b1bb4e0cf8f4a8ab7cc916c9c132a82f61f498de326d45576f01dd846e8a56f4a46143d5f3395d2936ade4e8506"
}