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replied · 260d
The private keys CAN be brute forced, in the future it will be economical to do so in some cases. Who would you rather give an insecure private key to, a miner or a crook?
replied · 260d
Neither. If there is a compelling reason, everyone will move funds to newer secure addresses. https://allkeys.cash
replied · 260d
Even if they're dead? Keys can be mined with computing power, miners run data-centers, it makes sense that miners will claim old keys since anyone can do it.
replied · 260d
And I trust mathematics/physics. You are and will be unable to brute the private keys with current tech.
replied · 260d
No kidding. I'm not talking about current tech. How long will the 160 bits hold? not forever, and we'll have to upgrade. If someone doesn't upgrade what do you do?
replied · 260d
The 160 bit hash is just an extra layer to protect against a potential flaw in secp256k1. When you transact, you reveal the public key anyway (that's why we have change addresses).
replied · 260d
https://lbc.cryptoguru.org/

Is this method flawed?
replied · 260d
I'm not qualified to answer that, but it looks like a fun experiment.
replied · 260d
Yes, even if the private key is lost. It should be untouched. This is like asking Apple to put a backdoor into iOS “just for the good guys.”
replied · 260d
It doesn't matter what 'should' be done. There is money up for grabs, it's nuts to think people will just leave it there. Given that people WILL try to claim it, how should that go?
replied · 260d
Here is a tx ID for 50 BCH unprotected by Hash160. Good luck: b0e585927e1737d07bd8157a2ba9f7615ef8ecd2af6d03523e51b4d23e134b6a
replied · 260d
Wait, do you acknowledge that the cryptography in the protocol will eventually have to be updated?
replied · 260d
I never suggested otherwise. This is the part where you now try to continue justifying theft of funds "because someone will eventually steal it anyway." 🙄
replied · 260d
This is much better for the currency as a whole than to let them go to whoever or fall out of circulation forever.
replied · 260d
It's not theft if you allow the owners to come forward and claim them. In fact, the miners are the best people to run such a system. They have the integrity of the currency in mind.
replied · 260d
I'll pass on SV. Reclaiming funds by mining is theft and fraud. The end.
replied · 260d
So dramatic :P What do you mean reclaiming by mining? How does that work? The method I outlined does not use mining hardware.