Post
Topic
Board Development & Technical Discussion
Merits 2 from 2 users
Re: in case of death; mandatory bitcoin deathswitch Dead man's switch
by
o_e_l_e_o
on 13/04/2022, 15:12:45 UTC
⭐ Merited by d5000 (1) ,kaggie (1)
I have argued this many times before, but there should absolutely not be a centralized consensus for removing coins from people's wallets and giving them to anyone else or returning them to the supply. I don't care if the coins haven't moved in 10 years or 1,000 years. I don't care if the coins are vulnerable to being hacked or stolen. I don't care if the coins are sent to a burn address.

Your bitcoin should be in your control and your control only. If you want to set up a multi-sig wallet for inheritance purposes, or pre-sign some timelocked transactions, or leave your seed phrase hidden in your will, or some other inheritance set up, then you are free to choose to do any of those things. If you don't want to do any of those things, then you are free to choose that option too. The whole purpose of bitcoin is freedom to do what you want with your own money, and not have the network dictate that your coins will be redistributed if you don't use them in a way that we deem appropriate.

Besides, Satoshi already considered the issue of lost coins:
Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.