I wrote a post a long long time ago about how I felt a combination of 4 weeks and a quicker option might be the best solution. I remember suggesting that there be some kind of penalty if you wanted to extract your funds more quickly. Even a combination of 13,4, and 1 week. Say if you want out in four weeks you have to pay 5% to get burned and if you want out in 1 week it's 10% or something like that. The actual percentages are not really important, it's the mechanics that matter. I like you idea, but it would be cool if you could have some kind of trusted third party verification as well. Like two factor authentication or something before that final batch gets released. Just another measure of security. For example, I have a friend that recently had some medical issues and has been away from his phone for 25 days now. It will likely be much longer. If someone tried to take his funds he probably wouldn't know, but for them to need to 2FA to his phone to get the remainder would protect at least half of his investment. I'm not sure if that makes sense or if it is even possible. Just me throwing stuff at the wall and seeing what sticks I guess.
You are viewing a single comment's thread from:
Oh heck I remember that post and thinking it was a solid idea at the time. That had to be like two years ago if not more, though the 2fA portion I think is a new idea? (And a good one that any change should encompass. Hell, we should really have a 2fA challenge for any powerdown).
Yeah, it was at least that long ago I think. Seems like forever now. I don't think I could even find it if I wanted to. If only there were an easier way to search your old posts on Hive :) That's a whole different can of worms though! I have a feeling the 2FA is good in theory, but probably a lot harder to implement. Who knows though, we have some pretty sharp witnesses here, they might be able to get it figured out.
I definitely think we have enough competent devs that we could get 2fA set up with an upcoming hardfork, provided folks agree that it's worth doing.