I hear what you are saying, but if the burn address has no associated private key, how would it sign the coinstake transaction? I assume wallets sign the block against the address used to stake, right?
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I hear what you are saying, but if the burn address has no associated private key, how would it sign the coinstake transaction? I assume wallets sign the block against the address used to stake, right?
I might be misunderstanding something. I'm thinking from the mindset of a burn wallet being pretty much the same as a wallet someone owns but forgot the key to access the balance. So if there's a wallet set up like that -- one that stakes and sends its rewards somewhere else, but no one knows how to access the balance... wouldn't that work? Is it possible?
Or there could be a contract that locks the funds for X time and sends stakes elsewhere... a CD with accessible interest.
Also. I wish steemit notified me of replies.
OK I see what you are saying. Yes an encrypted wallet with a lost passphrase for example could stake indefinately and the side stakes could go elsewhere. There is an element of trust I suppose in that you cant guarantee the passphrase is lost, someone (even accidentally) could still have a copy.
It is possible to make true burn addresses that have no possible authentic private key, and that is what I was thinking about, but they cannot stake because they cannot sign the coinstake transaction.
I agree with you on no reply notificatins on steemit, annoying!