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This raises a very interesting issue which I can fix. I could record the User's public key at the time of setting the passkey and simple invalidate that passkey if their hive public key changes. I think that's an important point and I'll look at getting that done.

Great that you're open to and respond to constructive criticism brother!

Some free Hive-engine tokens for you:
!PIZZA !LOL !LUV

Well pointed out!