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Mantej Rajpal
@mantej
once we have a cryptographically relevant quantum computer, the economic value of stealing bitcoin far exceeds every other quantum use case 🤯 fireside chat on quantum computing & bitcoin. shout out @variant @usv for hosting (and for joe’s pizza)
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Cassie Heart
@cassie
It seems fair to argue that the economic value would rapidly be zero after the first key is popped (assuming unexpected onset of PQ capabilities)
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Mantej Rajpal
@mantej
very fair to argue. the thesis is that the first actor will hit exchanges bc those will be attributed to hacks even post protocol upgrade there’ll be a sizable number of vulnerable addresses bc of lost keys (~20% of all BTC?) that weren’t able to upgrade their key pair
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Cassie Heart
@cassie
A good chunk of the old (possibly lost) BTC never moved in the first place, and have addresses that do not reveal a public key, meaning they'd be immune to at least direct shor's algorithm attacks, presuming some kind of PQ ZKP can be provided that satisfactorily confirms proof of possession for the key and the key is the preimage to the address.
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Dean Pierce 👨💻🌎🌍
@deanpierce.eth
There are definitely options, but hard forks in BTC are basically impossible since Satoshi left. Gavin tried for nearly five years to bump up the block size and avoid the catastrophic block congestion that happened in 2017, and they still haven't managed to figure that out. Odds of a serious PQ Bitcoin solution are basically zero. We'll probably end up with whatever emergency fork Coinbase comes up with. I talked with Gavin about PQ Bitcoin in 2013, and I'm in a few groups working on it even now, and it's basically all scammers selling monetized one off solutions. No core devs give even the tiniest of shits last I checked.
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