Gavin Andresen - 2011-08-24 00:15:34

The unfortunate thing about this construction is that the emergency key c, kept offline and hopefully never used is likely to be constant over a very long period of time. This results in a dramatic loss of transaction anonymity.

Clients could make c the base for a deterministic key; derive a series of keys from c, and use them in subsequent transactions.  (given full public key for c, you can derive a series of public keys without having the private key)

Same could be done for the 'wallet protection service' key b -- every time you use b, contact the protection service and ask for a b' derived deterministically from b.  Then b'', b''', etc...