Post
Topic
Board Development & Technical Discussion
Re: Bitcoin feature suggestion - wallet settings
by
Relnarien
on 05/08/2014, 09:01:01 UTC
i meant put the settings in the block chain somehow, just like the balance is stored on the chain not in wallet file.
the miners look at the rules for an address before they do the transaction

it could work like this

create a new address with your rules, you get given a rule key and private key
rule key you write down its not stored on the computer
so, its a little bit like cold storage, but still usable in a convenient way
so even your wallet got compromised by a hacker, they can only steal what your rule allows

so then you wanna change your rules, create a new address and use the rule key to unlock the address and transfer to the new one


The blockchain functions more like a ledger than a spreadsheet database. To put it simply, if you wanted to transcribe it to human-readable form, it would read something akin to "Jan 1, 2014, 00:00:00, Generated 50 BTC, 1BitcoinAddress001 sent 10 BTC to 1BitcoinAddress002". Clearly, you believe that the blockchain contains a collection of all generated Bitcoin addresses, which is simply not the case. That is why your proposed idea will not work at the protocol level.

You can always tweak the code of any Bitcoin client on your own to satisfy your need for extra security. However, a smart hacker would just bypass your client and steal your wallet directly.

Stick to using a cold storage solution. Even if they somehow work, clients with fancy features are still only as secure as the person using them.


If you're concerned about hackers you could use a multisig address (maybe 2-of-2 or 2-of-3) and have each address on different computers. You could also send a transaction with an nLockTime parameter and make those coins unspendable until a certain point in the future (If I understand that correctly).

Please quote the post that you are replying to, not just the last one on the thread because it's easier to get to. If you don't, then you look like a spambot scanning the last post for keywords and posting randomly generated replies. Although, judging from your post history, this recent post does seem highly suspect.