In a hypothetical distant future where private keys are getting closer for the strongest supercomputers to guess, are there any potential BIP opportunities that could increase the security of all private keys in the network? Including lost/old ones, like Satoshi's for example?
I know it's ridiculously unlikely to ever be a problem (I've personally done the math) but I'm just curious if something like this is possible if it becomes an issue 500 years into the future of bitcoin.
Can someone check my math:
Probability of guessing private key:P
Probability of guessing 2/2 multisig: P^2.
P<1 so P^2 is very small number.
Not exactly sure how this relates. Are you proposing that we can just use multisigs when security becomes an issue?
I don't know how this would resolve the issue with Satoshi's wallet.
You are right. I misread your prompt.
I don’t know the answer.
That said, a while back I remember hearing if we have quantum computer decryption, then we have quantum computer encryption.
I read about this but can't remember where... it was in the context of quantum computers. Basically there are ways to create quantum-resistant private keys that work with the bitcoin protocol. You would have to sweep your funds to a new key. I don't think we can strengthen existing keys if they become vulnerable. Inconvenient, but not fatal to the timechain.
Strengthening existing keys is exactly the problem I'm curious of it CAN be solved.
The "finding Satoshi's wallet" problem is what I'm curious if can be prevented if the need arises in the very distant future.
The way I've seen discussed is a move to something that is resistant to whatever advances arise (quantum resistant, whatever), with a (very) long grace period before funds secured with old keys become unspendable in a fork.
Interesting. Do you think that "thing" could potentially be a fork of bitcoin that gives each private key an additional layer of entropy?
For example, to "find" my wallet with funds on it, I would essentially have to put in a great deal of computing power.
Idk if something like this is even possible.
Nah I think it would just be moving to a new scheme entirely with a decently long period where both are supported for people to move funds over.
