Post
Topic
Board Development & Technical Discussion
Merits 3 from 2 users
Re: in case of death; mandatory bitcoin deathswitch Dead man's switch
by
stompix
on 13/04/2022, 16:33:45 UTC
⭐ Merited by vapourminer (2) ,ETFbitcoin (1)
I've been thinking about this for a while now and just randomly ran into https://www.reddit.com/r/nottheonion/comments/u1znfu/man_loses_his_entire_500000_savings_in/
on my front page.

There's already a bunch of coins lost because people didn't understand how wallets worked etc. before the seedphrase/non-deterministic era.

And your solution won't have any effect here because this is not about personal wallets but somebody who had funds on Quadriga, I don't expect any CEX to be playing with such a thing that is way too tempting for everyone to try and abuse and even without that, imagine that exchange had some addresses set and those addresses were obviously controlled by who? Not the same guy?
If he wanted a backup strategy he would have used multi-sig addresses, it's clear he wanted full control so most likely he would have used the addresses of his own pool for recycling.

And let's assume it works all well and so, how do you make sure those keys are not lost? How do you make sure the pool is not hacked, the key is exposed and thousands of bots are waiting to empty that address the moment the coins land in it? And how do you force people to give them back? And a lot of ands!

Sure, Bitcoin is code, but how would Bitcoin know that you're dead?

Biometric chip implant that is set to send the data to a node the moment your vital signs stop for more than x?
Humans have a tendency to overcomplicate things so this wouldn't amaze me.