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Author Topic: Hardware wallets and Bitcoin development  (Read 840 times)
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February 21, 2017, 11:32:53 AM

I'm here to ask something very important as I didn't see any discussions about this. We all know that bitcoin is far from being great at the moment and the development is still active.

Hardware wallets are currently the best choice for protecting your BTC , I want to know If over the years the hardware wallets (the current ones) could possibly become useless because bitcoin development progressed too much ? I'm not saying that safer ways for holding bitcoins will be developed but I'm just asking If the current hardware wallets could ever get outdated over the years because of some changed in the bitcoin code ?

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February 22, 2017, 08:44:07 PM

Possible - is such an amazingly strong word.  Almost anything is possible.  The best hardware wallets recommended here could do pretty neat things by changing their firmware if a major software change happens in the blockchain say 5 years from now.  Another thing that adds to my comfort is that better software wallet authors support hardware wallet restores without even needing a hardware wallet.  Example; if my Trezor is lost or broken I can completely restore my wallet and recover absolutely everything just in Electrum.  I would feel almost certain that I could restore any BTC using such a recovery method even if the hardware wallet somehow, someway became absolutely obsolete.   If I get 5 years out of my Trezor or any other hardware wallet I can easily afford to replace it.  Knowing I will not lose coins is my main worry.  I have explained above why I don't think that will ever happen due to a hardware wallet no longer working.  My take on your concerns.

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