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Update bip-0345.mediawiki
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Grammatical errors made to make reading easily digestible.
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Gudnessuche authored Jan 7, 2025
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=== Motivation ===

The hazard of custodying Bitcoin is well-known. Users of Bitcoin must go to
significant effort to secure their private keys, and hope that once provisioned
significant effort to secure their private keys, and hope that once provisioned,
their custody system does not yield to any number of evolving and
persistent threats. Users have little means to intervene once a compromise is
detected. This proposal introduces a mechanism that significantly
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This proposal provides a mitigation to the
[https://web.archive.org/web/20230210123933/https://xkcd.com/538/ "$5 wrench attack."] By
setting the spend delay to, say, a week, and using as the recovery path a
setting the spend delay to, say, a week, and using as the recovery path, a
script that enforces a longer relative timelock, the owner of the vault can
prove that he is unable to access its value immediately. To the author's
knowledge, this is the only way to configure this defense without rolling
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