Callum on Nostr: Are ppl suggesting that old unmoved coins should be 'confiscated' if ECC breaking is ...
Are ppl suggesting that old unmoved coins should be 'confiscated' if ECC breaking is on the near horizon?
If so, that's very wrong-headed. No coins should ever be confiscated. Security of keys to addresses holding coins is the responsibility of the owner and if by technological progress present day encryption is weakened then it is the sole responsibility of the holder to move to better secured keys. If that owner is absent, dead or negligent, then the weakly secured coins can be taken by someone else. That's what we accept when we use Bitcoin - there is no 'statute of ownership', only private knowledge of secure keys to holding addresses.
If so, that's very wrong-headed. No coins should ever be confiscated. Security of keys to addresses holding coins is the responsibility of the owner and if by technological progress present day encryption is weakened then it is the sole responsibility of the holder to move to better secured keys. If that owner is absent, dead or negligent, then the weakly secured coins can be taken by someone else. That's what we accept when we use Bitcoin - there is no 'statute of ownership', only private knowledge of secure keys to holding addresses.