Interesting… my understanding was that quantum computers should be able to reverse the elliptic curve signature, so the existence of a signed transaction (and maybe an address) on the chain would make it possible to find the secret key, and therefore find and move all the UTXOs controlled by that private key. Or at least have the information needed to claim to own if we were to see miners reacting by stopping all new transactions other than coinbase ones until it was sorted out.

I’ll have to read some more.

What you’re saying makes sense now, that the P2PKH ones would be first. I was going to say that we’d see Satoshi addresses move first, but maybe they’d avoid those to avoid at

reducing how much they can convert to some other asset (atomic swap?) before people start reacting.

Fascinating to think what their strategy might be… move 1B all at once? Do it slowly over time? Design their work to look like traditional hacking instead?

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“We assume that the Bitcoin community has agreed on and deployed a quantum-resistant signature scheme, either as a measure of precaution or as a reaction to the appearance of a (fast) QCA. Independent of quantum computing, our protocol can be generally applied to react to the appearance of vulnerabilities rooted in Bitcoin’s public key cryptography. The transition can be implemented as a soft fork using a similar approach as, for example, SegWit “

https://royalsocietypublishing.org/doi/10.1098/rsos.180410