“Not your keys, not your coins.”
This cardinal rule hinges on the security provided by complex mathematics involving massive random numbers. Your cryptocurrency holdings remain safe because these numbers are theoretically impossible for others to predict or uncover.
However, the advent of quantum computing poses a significant threat. Given enough computational power, a quantum-capable entity could potentially crack the cryptographic methods we rely on today. The concern here is whether we'll let early adopters of quantum technology — likely those who are already affluent and influential — exploit this advantage to compromise millions of BTC, thereby reshaping Bitcoin's economic landscape.
Should this quantum threat be viewed as a critical vulnerability, akin to a software bug?
Might there be a need to establish a timeline for phasing out older, vulnerable cryptographic signatures and invalidate compromised funds?
The solution may be more intricate than it appears initially. In his article, Jameson Lopp presents a compelling argument on this very issue.
Against Allowing Quantum Recovery of Bitcoin -- Jameson Lopp
