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Author Topic: Solution to lost wallets  (Read 322 times)
Mazda17
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July 23, 2018, 11:02:40 PM
 #61

maybe if you lose your bitcoin wallet, we will experience losses,because the bitcoin will be lost with reform certain.I think we better keep the security of our devices,avoid from damage .
I agree with your thinking that bitcoin will live 20 years in the future but if longer bitcoin life is very fun for me because I hope bitcoin can help me until my offspring later.
I have no doubt that bitcoin is a future that will develop forever.

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Ojengonggu
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July 23, 2018, 11:20:25 PM
 #62

This is not a proposal of forking network!
By timestamping first wallet transaction with real time date/hour/seconds into ledger history, bitcoin core software nodes can make an agreement that if, for example:
during the next 2 years the wallet's public address that was timestamped do not output any Tx, bitcoin nodes take those funds and place them into next block header.
If a public address will make a new output tx with any amount of tokens will be re-stamped with date that was realized the last tx.
If the public address won't put a minimum of 1 transaction in 2 years, those funds from public address will be moved into next block of transactions.
I know it sounds easy. But to translate into coding, it is very hard to accomplish.
In bitcoin is harder to be implemented due to multi-sig public keys .
I cannot see another solution to this problem, which can become very important in far future.
I would call this process (Proof of owner's wallet)
P.S Timestamp can be from 2 years up to 200 years, 2 years is as an example

I do not understand what you are describe. tapai that I understand if you lose your wallet and also personal key for your wallet I think you have to make a new wallet because you can not access your wallet anymore

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July 24, 2018, 05:52:20 PM
 #63

When a user loses his wallet it affects the loss of your money and will definitely incur losses unless you still keep your privatkey but otherwise everything will be in vain. make sure you never forget your password to remove the privatkey or your money will be permanently lost.

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August 11, 2018, 02:30:49 PM
 #64

It would require "upkeep" of your Bitcoins else you will lose them. This has neither rhyme nor reason and basically puts a termination date on your Bitcoins.
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August 11, 2018, 09:37:56 PM
 #65

A very original approach to solving this problem, but it will be very difficult to implement this in bitcoin. There are many simpler ways to solve the problem of lost wallets.
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