Post
Topic
Board Bitcoin Discussion
Re: In 10 years from now a quantum computer
by
Artemis3
on 26/07/2019, 01:24:56 UTC
Quantum computers are computers which exploit quantum mechanics to do certain computations far more quickly than traditional computers. https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin
generating the privatekey: yes
hashing the next block: no

Deriving the private key of old addresses that got reused and still have balance: eventually.

Deriving the private key of old address with no outgoing transactions: no.

The majority of "lost" coins fall in the latter category. Quantum computing can't bring back old coins just like it can't bring back your grandmother.

You forgot Satoshi's 1000000 bitcoins that have newer been moved, but still have their public keys visible.

Those addresses are difficult to protect from QC, because even if we implement a QC-resistant algorithm, those can't be protected or otherwise even Satoshi couldn't move them.

Actually once you soft fork to add the quantum resistant code, you might also add something to keep those coins locked forever. Something along the lines of: By the date the new code activates, coins not moved to a new wallet that supports it become locked. You can wait a year or four (next halving), etc. to give people plenty of time... Well we will see what core brings regarding this matter.