Post
Topic
Board Development & Technical Discussion
Re: Quantum Computer vs Bitcoin
by
Vigme86
on 02/01/2018, 20:39:51 UTC

In this particular context (but see below), “address reuse” means reuse of an address from which you have spent.  Transactions to your address contain the public keys of whoever sent you the money—not your public key.  But the only information revealed in the blockchain when you receive money is the Hash160 (RIPEMD160 of SHA256) of your public key.  That is what haltingprobability referred to as the “public-key hash” in the portion you underlined.

(For the sake of simplicity, I here assume only P2PKH and P2WPKH addresses.  What do these stand for?  “Pay To (Witness) Public Key Hash”.)

But this discussion misses the point that the security of public keys is just fine.  It seems that you missed this upthread:

There are excellent reasons to avoid address reuse; but this is not one of them.  I say this as a paranoid security nut:  The security of publicly disclosed public keys is just fine.  That is why they are called public keys.  The only exception I would here make is if you have coins which you intend to potentially leave in cold storage for decades.  Then, yes, you will want the extra security margin of the key being unpublished.

Bingo.

Do you intend to leave the coins in cold storage for decades?  If so, then I recommend that you do what you said you’re doing:  Use the addresses for receiving only.  Not that I expect for secp256k1 to be broken:  If storing something for decades (or longer), I prefer some extra security margin “just in case”.

Otherwise, there is no reason to worry about revealing the public key.  secp256k1 is secure.  You may rely on it.

But there is another, very different reason to avoid reuse of addresses for both sending and receiving:  Privacy.  Blockchain analysis is already easy enough for experts.  Address reuse of all kinds makes it trivial.

To start with, for a bare modicum of privacy, use one HD wallet with the seed and keys generated (and backed up!) on an airgapped computer; and from that wallet, use a different address every time you receive money.  This recommendation has nothing to do with the security of your money against attacks on public keys.

I had not seen the upthread, indeed, but I meant what I said, it's on a long-time basis (maybe not decades, let's say some years) and I'm currently storing my big savings in btc on a paper wallet generated on an offline computer and encrypted via BIP0038 (actually big for me Smiley, maybe for you guys could be a ridiculous sum).
I have always bought my mBTC on different exchanges and then sent to my Address, I've never verified what kind of transactions the exchanges have made, but I suppose it was a P2PKH (is there a way to know that ?). I do that because I've read on "Mastering Bitcoin" this is the way Antonopoulos stores 95% of its bitcoins.

HD Wallet? I've Electrum on my phone but it's just for some bucks I'm not able to move due high fees level of these days, anyway seed is backed up and I have downloaded BIP0032 program to found every private key from that one.

Anyway thanks again for your answer