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Date: Tue, 18 Nov 2014 17:33:12 -0500
Message-ID: <CAB+qUq6+hDvDMm=E1nw300AWS_RvdLgHZofgddPzZCxPmgWTnQ@mail.gmail.com>
From: Chris Pacia <ctpacia@gmail.com>
To: Pieter Wuille <pieter.wuille@gmail.com>
Content-Type: multipart/alternative; boundary=001a114093d2337c92050829ae85
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Increasing the OP_RETURN maximum payload
	size
Precedence: list

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On Nov 17, 2014 7:39 AM, "Pieter Wuille" <pieter.wuille@gmail.com> wrote:

> That is inevitable for any wallet that offers any functionality beyond
> just maintaining a balance and the ability to send coins. In
> particular, anything that wishes to list previous transaction (with
> timestamps, history, metadata, messages sent using t
> What HD wallets (or any type of deterministic derivation scheme) offer
> is the fact that you can separate secret data and public data. You
> only need one safe backup of the master secret key - all the rest can
> at most result in privacy loss and not in lost coins.
>
> --
> Pieter

I agree but right now wallets not using stealth will only lose metadata,
not coins, if their computer crashes and they have the seed backed up.

But if a user wants to upgrade to stealth, they then risk losing metadata
AND coins if they either didn't manually back up after every transaction or
use a centralized cloud backup service.

That's if OP_RETURN is not utilized for storage.

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Content-Type: text/html; charset=UTF-8

<p dir="ltr"><br>
On Nov 17, 2014 7:39 AM, &quot;Pieter Wuille&quot; &lt;<a href="mailto:pieter.wuille@gmail.com">pieter.wuille@gmail.com</a>&gt; wrote:</p>
<p dir="ltr">&gt; That is inevitable for any wallet that offers any functionality beyond<br>
&gt; just maintaining a balance and the ability to send coins. In<br>
&gt; particular, anything that wishes to list previous transaction (with<br>
&gt; timestamps, history, metadata, messages sent using t<br>
&gt; What HD wallets (or any type of deterministic derivation scheme) offer<br>
&gt; is the fact that you can separate secret data and public data. You<br>
&gt; only need one safe backup of the master secret key - all the rest can<br>
&gt; at most result in privacy loss and not in lost coins.<br>
&gt;<br>
&gt; --<br>
&gt; Pieter</p>
<p dir="ltr">I agree but right now wallets not using stealth will only lose metadata, not coins, if their computer crashes and they have the seed backed up. </p>
<p dir="ltr">But if a user wants to upgrade to stealth, they then risk losing metadata AND coins if they either didn&#39;t manually back up after every transaction or use a centralized cloud backup service.</p>
<p dir="ltr">That&#39;s if OP_RETURN is not utilized for storage. </p>

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