How long could you have a particular hardware wallet before a critical firmware update came and went uninstalled, rendering you unable to sign transactions with it?
And regarding hardware wallets that don’t ship with native open source software support for creating transactions, how would a person safeguard themselves against a day many years in the future where community support for the device became such that there were no remaining open source projects producing and supporting such software for whatever version Bitcoin core has morphed into by then? Should a person at minimum be storing a compiled version of a compatible piece of client software on a thumb drive (and a computer that will run it) with the same diligence that they are safeguarding their signing devices? Or is routine replacement of one’s signing devices (and the associated need to move UTXO’s every 5 years or so) a foregone conclusion?
Doesn’t this introduce a form of counterparty risk for long term hodlers?
Interested to hear some thoughts on this. Thanks.
nobody /
npub127…n7dvk
2024-02-09 22:26:20
Author Public Key
npub127ekpmm3w2ttqfe9r4j3hhflx0uw89lw7457pyd9dc7zp03ld4dswn7dvkPublished at
2024-02-09 22:26:20Event JSON
{
"id": "1f55fa9444b53849155703a3175bd7310be9b23ed9e5903ace652a9b05bdf871",
"pubkey": "57b360ef717296b027251d651bdd3f33f8e397eef569e091a56e3c20be3f6d5b",
"created_at": 1707517580,
"kind": 1,
"tags": [],
"content": "How long could you have a particular hardware wallet before a critical firmware update came and went uninstalled, rendering you unable to sign transactions with it?\n\nAnd regarding hardware wallets that don’t ship with native open source software support for creating transactions, how would a person safeguard themselves against a day many years in the future where community support for the device became such that there were no remaining open source projects producing and supporting such software for whatever version Bitcoin core has morphed into by then? Should a person at minimum be storing a compiled version of a compatible piece of client software on a thumb drive (and a computer that will run it) with the same diligence that they are safeguarding their signing devices? Or is routine replacement of one’s signing devices (and the associated need to move UTXO’s every 5 years or so) a foregone conclusion?\n\nDoesn’t this introduce a form of counterparty risk for long term hodlers?\n\nInterested to hear some thoughts on this. Thanks.",
"sig": "9f1108c6983ceeef8dc8daff2a53732bdfccef72c0f5159a50bd7318e7ff0f49c85022ec9848bc4267f6c6ed4aee8a960319e6b2c9bda8077a25dcc5e3136d73"
}