[bitcoin-dev] Forget dormant UTXOs without confiscating bitcoin

Gregory Maxwell greg at xiph.org
Sun Dec 13 08:18:57 UTC 2015

On Sun, Dec 13, 2015 at 8:13 AM, Chris Priest <cp368202 at ohiou.edu> wrote:
> Lets say it's 2050 and I want to sweep a paper wallet I created in
> 2013. I can't just make the TX and send it to the network, I have to
> first contact an "archive node" to get the UTXO data in order to make
> the TX. How is this better than how the system works today?

You already are in that boat. If your paper wallet has only the
private key (as 100% of them do today). You'll have no idea what coins
have been assigned to it, or what their TXids are. You'll need to
contact a public index (which isn't a service existing nodes provide)
or synchronize the full blockchain history to find it. Both are also
sufficient for jl2012's (/Petertodd's STXO), they'd only be providing
you with somewhat more data.  If instead, you insist that you'd
already be running a full node and not have to wait for the sync, then
again you'd also be your own archive. In none of these cases do you
lose anything.

More information about the bitcoin-dev mailing list