Samson Mow [ARCHIVE] on Nostr: 📅 Original date posted:2023-08-04 🗒️ Summary of this message: Wallet ...
📅 Original date posted:2023-08-04
🗒️ Summary of this message: Wallet addresses generated from compromised or lost wallets can result in lost funds. Silent Payment addresses should have an expiration date, such as 180 years, to prevent this.
📝 Original message:
Why the 180 year limit? imho should plan for longer.
On Fri, Aug 4, 2023 at 10:41 AM Peter Todd via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> tl;dr: Wallets don't last forever. They are often compromised or lost. When
> this happens, the addresses generated from those wallets become a form of
> toxic
> data: funds sent to those addresses can be easily lost forever.
>
> All Bitcoin addresses have this problem. But at least existing Bitcoin
> addresses aren't supposed to be reused. Silent Payments are: the whole
> point is
> to have a single address that you can safely pay to multiple times, without
> privacy concerns. Failing to make Silent Payment addresses eventually
> expire in
> a reasonable amount of time is thus a particularly harmful mistake.
>
> Fixing this is easy: add a 3 byte field to silent payments addresses,
> encoding
> the expiration date in terms of days after some epoch. 2^24 days is 45,000
> years, more than enough. Indeed, 2 bytes is probably fine too: 2^16 days
> is 180
> years. We'll be lucky if Bitcoin still exists in 180 years.
>
> Wallets should pick a reasonable default, eg 1 year, for newly created
> addresses. Attempts to pay an expired address should just fail with a
> simple
> "address expired". Lightning invoices are a good example here: while
> invoices
> does not require expiration from a technical point of view, they do expire
> for
> similar UX reasons as applies to silent payments.
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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🗒️ Summary of this message: Wallet addresses generated from compromised or lost wallets can result in lost funds. Silent Payment addresses should have an expiration date, such as 180 years, to prevent this.
📝 Original message:
Why the 180 year limit? imho should plan for longer.
On Fri, Aug 4, 2023 at 10:41 AM Peter Todd via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> tl;dr: Wallets don't last forever. They are often compromised or lost. When
> this happens, the addresses generated from those wallets become a form of
> toxic
> data: funds sent to those addresses can be easily lost forever.
>
> All Bitcoin addresses have this problem. But at least existing Bitcoin
> addresses aren't supposed to be reused. Silent Payments are: the whole
> point is
> to have a single address that you can safely pay to multiple times, without
> privacy concerns. Failing to make Silent Payment addresses eventually
> expire in
> a reasonable amount of time is thus a particularly harmful mistake.
>
> Fixing this is easy: add a 3 byte field to silent payments addresses,
> encoding
> the expiration date in terms of days after some epoch. 2^24 days is 45,000
> years, more than enough. Indeed, 2 bytes is probably fine too: 2^16 days
> is 180
> years. We'll be lucky if Bitcoin still exists in 180 years.
>
> Wallets should pick a reasonable default, eg 1 year, for newly created
> addresses. Attempts to pay an expired address should just fail with a
> simple
> "address expired". Lightning invoices are a good example here: while
> invoices
> does not require expiration from a technical point of view, they do expire
> for
> similar UX reasons as applies to silent payments.
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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