Re: What will happen if quantum computer owners start to move the early mined coins?
upgrading to a post-quantum protocol in a conscientious way will take several years at least. when are we gonna start discussing the details?
When cryptographic community as a whole will reach both 1) a consensus on what quantum-ready algorithms will become the standard and 2) decide that it's time to start switching to it.There's no need for Bitcoin to be on the cutting edge cryptography, it would only mean unnecessary risks and forks after forks.
quantum resistance =/= cutting edge. lamport signatures are from the 70s.
centralized entities can quickly implement new encryption and reverse most of the damage done if QC breaks current standards. they can afford to wait. bitcoin is irreversible, and people take years to upgrade. there would be 5 million+ coins up for grabs if QC broke ECDSA today---and that's not even considering p2pkh inputs that might be stolen in-flight.
if we want to reduce that number (ie prevent many millions of coins from being stolen) we need to act sooner than later, because again---people take years to upgrade their bitcoin software. by various estimates, ECDSA could be broken within 3-7 years. that doesn't leave us much time.