Nuh on Nostr: The idea that all you need to pass bitcoins to your future self or children is a seed ...
The idea that all you need to pass bitcoins to your future self or children is a seed phrase will hurt people. Eventually most nodes will be pruned and you will have to provide the block headers and merkle proofs of your utxos to spend them.
Even if this never happens, you shouldn't depend on strangers for data availability necessary to secure your wealth.
Moreover, most users will never have a utxo at all, so they need to backup their vtxos or other forms of client side validated transaction data to own anything.
Open, secure, durable, and reliable cloud storage protocols and infrastructure are necessary for all kind of applications, but they are necessary for property rights on the Internet too
Published at
2025-05-21 04:41:29Event JSON
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"pubkey": "930ccef12372dd2f16057cfc54f0dbd94335d8b51b4e2737236b00cab718fcd9",
"created_at": 1747802489,
"kind": 1,
"tags": [],
"content": "The idea that all you need to pass bitcoins to your future self or children is a seed phrase will hurt people. Eventually most nodes will be pruned and you will have to provide the block headers and merkle proofs of your utxos to spend them.\n\nEven if this never happens, you shouldn't depend on strangers for data availability necessary to secure your wealth.\n\nMoreover, most users will never have a utxo at all, so they need to backup their vtxos or other forms of client side validated transaction data to own anything. \n\nOpen, secure, durable, and reliable cloud storage protocols and infrastructure are necessary for all kind of applications, but they are necessary for property rights on the Internet too ",
"sig": "bb1394b6a71d0b68393322328398c91a1b090c88554987413ef4542ef9631829ada9a2d076c34289479a7a43d1f6cafcf4f1d620c2fcd86d1c3d8059a7d4ab49"
}
