[bitcoin-dev] Forget dormant UTXOs without confiscating bitcoin

Jeff Garzik jgarzik at gmail.com
Mon Dec 21 03:34:06 UTC 2015

On Sun, Dec 20, 2015 at 11:35 AM, Peter Todd <pete at petertodd.org> wrote:

> Hash: SHA512
> On 20 December 2015 08:30:45 GMT-08:00, Chris Pacia <ctpacia at gmail.com>
> wrote:
> >On Dec 20, 2015 6:34 AM, "Jeff Garzik via bitcoin-dev" <
> >bitcoin-dev at lists.linuxfoundation.org> wrote:
> >
> >> 2) This reverses the useful minimization attribute of HD wallets -
> >"just
> >backup the seed"
> >
> >It would be nice if the bip37 filter matching algorithm was extended to
> >serve up the proof.
> >
> >And if server-based wallets did the same it would preserve the "just
> >backup
> >the seed" functionality.
> Exactly! The information will be out there - "just backup the seed"
> requires someone to have the exact same data needed to generate the
> TXO-unspent proof that my proposal requires to spend an old txout.
> tl;dr: jgarzik is incorrect; theres no difference at all from the status
> quo.

The data stored in the legacy case makes it possible to sign and send a
transaction without any connection to a network.  The data stored in the
upgraded case, absent grandfathering, requires significant network sync at
a minimum.

The user experience and security parameters are different.

Thus, issue/recommendation #1.
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