Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Things on my mind about bitcoin lately
by
ebliever
on 29/05/2018, 01:11:30 UTC
⭐ Merited by Gekkoo (1)
So I obviously hope I never have to deal with the first of these two issues I have but what if Gaven Andresen dies off and doesn’t pass on the alert/control features that Satoshi bestowed to him, would community have to legit hard fork to even stay in the realm of ‘new development’ not sure how that works as I’m not a dev at all, hence my question. Not sure how the BIP’s are actually approved or implemented and ATM believing is all basically comes down to getting Gavin’s ultimate approvi. Which like I said I worry may at some point ultimately be a issue.

Another thing I’ve wondered since getting into BTC is what happens when all BTC are mined, people hodl, and people die? Is there any contingency in place or being planned to recover stale or dead bitcoins in wallets that are OBVIOUSLY non active addresses? Or will everything that is owned by dead investors or give up investors be doomed to simply be a burn loss?...

Bitcoin is open source, so even if all the current devs with Bitcoin Core got hit by a truck it wouldn't matter. There are other teams working with the consensus protocol and new devs could just pick up and continue the work. Besides, I don't think Gavin has even had commit access for years, so I don't think your worry about his access is even remotely accurate.

Lost bitcoins are lost. There is no plan to steal/"recover" "lost" bitcoins as such would be fiercely opposed by anyone who thinks it though. It just makes the remaining bitcoins more scarce and valuable, and how do you know which bitcoins are truly lost/unrecoverable, and which are simply being held by a very patient and quiet hodler? (Hint: you can't.) Everyone should consider their inevitable demise and plan accordingly for how they want their cryptocurrency dispositioned when they die, if they don't want it lost or randomly snagged by the first tech-savvy person with access to their belongings once they die.