Nostr

Replying to

Bryan

If they can’t prove ownership by signing, and do this periodically, it’s safe to assume they own zero bitcoin.

GBTC, coinbase, binance, all of them. They all have zero until proven otherwise.

Show me the signed message…or it’s zero.

Luke Dashjr 2y ago

Bitcoin signed messages don't prove ownership

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Discussion

mark tyler 2y ago

Are you referring to signing a message with the key for an address that only temporarily has the correct balance?

Luke Dashjr 2y ago

Addresses don't have balances at all

mark tyler 2y ago

Haha ok true. I don’t mean that in the ETH sense. I mean that UTXOs have been sent to an address that is related to a private key, which has signed a message, and not thereafter moved. That’s possible to check, right?

Luke Dashjr 2y ago

No, because that UTXO isn't necessarily theirs anymore

mark tyler 2y ago

How so since in the hypothetical we’ve already checked that it hasn’t been spent? Maybe.. if they have signed a transaction and broadcasted it but it has yet to make it into a block?

Luke Dashjr 2y ago

Or if they transferred it off chain

BUB 2y ago

Can you elaborate? Don't you have to own the private keys to sign a message?

Luke Dashjr 2y ago

No. Custodial wallets are supposed to let you sign messages for your addresses, and UTXOs don't necessarily need to move when you transfer the bitcoins to someone else.