Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: emma.lee1890 on November 03, 2018, 07:23:47 PM
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it depends on the upgrade and the reason for that upgrade.
99.99% chance is that all the changes that are made to bitcoin will not concern the way key pairs work and it will remain backward compatible which means the keys you create in 2009, 2010,...2018,... will still work in 2025,...
but there is a tiny chance that some day in the future we find a weakness in ECC and decide we need to move to a new cryptography method for key pairs. in which case the old keys may become obsolete. but as i said this chance is nearly zero. but it is best to keep updated at least every year.
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yes I agree with this changes in the credential processing will depend on the update that will be implemented by the community then I think before an update will be implemented there will be a notice to the community or a news.
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The rule is simple, as long as your private key number remains private from anyone else apart from you, then nothing will happen to your wallet, doesn't matter what the upgrade is. Also you need to ensure that the seed phrase remains safe too. If these protocols are followed, rest assured that the wallet will be safe.
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First of all you need to include what update you were trying to say. For example, stores are now accepting bitcoin. Then, that case, it will not affect the whole scenario.
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I think, you are not the only one, who are going to perform that, so they are definitelly having some opportunites for those guys. I dont think that something would change in the ways you will get an access to your BTC.