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I don't know when quantum computing with break AES-256 but when it does:

1. All Bitcoin that you want protected must be moved to a quantum resistant address which is not currently an option in the existing code

2. All lost Bitcoin that is currently unmovable will be captured by the first company to crack it easily, which could be as many as 6Million Bitcoin, or perhaps even more.

This will be upwards of 30% of all Bitcoin. This almost certainly will be captured at some point. Will there be a way of invalidating all unmoved Bitcoin with a fork? Is 30% too high for a large company/government to capture and will it invalidate the distribution?

Just considerations.

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Discussion

fun.relaxed.happy.satisfied 1y ago

1. Okey, we will adapt.

2. Who decides when coins are lost? What if I left coins for my grandchildren in a hundred years? No possible answer, all coins must be valid.

Also 2. Let them have it. If you did the proof of work to develop a quantum computer, you earned the corn.

I definitely support building a quantum resistant strategy, so it can be tested and improved over the next 20 years till it's needed

Sovtoshi 1y ago

I agree with most of this also, I was thinking even if it's 30%, currently we print at least 7-10% more fiat per year anyways, so it would only be about 5 year's worth of fiat theft equivalent as opposed to indefinite theft that we have today🤯