(Hi, Lyn, long time fan!)
I'd push back on this, a little. There are definitely cases where I won't have a UTXO, but all the cryptographic solutions I've seen to handle others' failure (malice or incompetence) devolve to me obtaining a UTXO.
In times (and places) of high trust people may forgo this security, but if you can afford it, why would you? "Verify, don't trust" is our entire motto at Blockstream, and while I am not my employer, it resonates.
In my mind, forgoing cryptographic protection for your Bitcoin, if enough people do it, is akin to detaching your issued currency from gold. Seemingly a minor technical detail which has no immediate effect, perhaps. Obviously nobody would be foolish enough to do that, though! 😬
Rusty Russell
npub179…elz4s
2024-08-03 00:21:25
in reply to nevent1q…mhr2
Author Public Key
npub179e9tp4yqtqx4myp35283fz64gxuzmr6n3yxnktux5pnd5t03eps0elz4sPublished at
2024-08-03 00:21:25Event JSON
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"created_at": 1722644485,
"kind": 1,
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"content": "(Hi, Lyn, long time fan!)\n\nI'd push back on this, a little. There are definitely cases where I won't have a UTXO, but all the cryptographic solutions I've seen to handle others' failure (malice or incompetence) devolve to me obtaining a UTXO. \n\nIn times (and places) of high trust people may forgo this security, but if you can afford it, why would you? \"Verify, don't trust\" is our entire motto at Blockstream, and while I am not my employer, it resonates.\n\nIn my mind, forgoing cryptographic protection for your Bitcoin, if enough people do it, is akin to detaching your issued currency from gold. Seemingly a minor technical detail which has no immediate effect, perhaps. Obviously nobody would be foolish enough to do that, though! 😬",
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