Pro to Technology@lemmy.worldEnglish • 3 days agoSleeping beauty bitcoin wallets wake up after 14 years to the tune of $2 billionwww.morningstar.commessage-square31fedilinkarrow-up1290arrow-down10
arrow-up1290arrow-down1external-linkSleeping beauty bitcoin wallets wake up after 14 years to the tune of $2 billionwww.morningstar.comPro to Technology@lemmy.worldEnglish • 3 days agomessage-square31fedilink
minus-square@kata1yst@sh.itjust.workslinkfedilinkEnglish4•3 days agoThis is correct for a given transaction, but there’s no consensus needed to open a Bitcoin wallet. That is usually just a private key in an encrypted envelope.
minus-square@CatZoomies@lemmy.worldlinkfedilinkEnglish1•3 days agoGot it, thanks for that distinction. It’s been years since I last looked into this stuff. Makes sense for a dormant wallet. If a wallet is not dormant in this scenario, then active users could just migrate their wallet to another wallet and then they’ll be good to go.
This is correct for a given transaction, but there’s no consensus needed to open a Bitcoin wallet. That is usually just a private key in an encrypted envelope.
Got it, thanks for that distinction. It’s been years since I last looked into this stuff. Makes sense for a dormant wallet.
If a wallet is not dormant in this scenario, then active users could just migrate their wallet to another wallet and then they’ll be good to go.