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Michael R. Sullivan

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.

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Discussion

Michael R. Sullivan 2y ago

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.

Michael R. Sullivan 2y ago

No worries, thanks for it reply 🙂

Any idea if there are any challenges getting quantum encryption into a BIP though? Seems like that would be a massive undertaking.

(I have no idea WTF I'm taking about, super out of my depth here)

🤷‍♂️