Post
Topic
Board Development & Technical Discussion
Re: Algorithms used in Bitcoin are expected to be strong until at least 2030
by
NotATether
on 25/07/2023, 07:24:48 UTC
Satoshi just chose one of the strongest curves at that time, even he knew 20 years later people will have to change the key to their safe.😉
A relevant quote:

True, if it happened suddenly.  If it happens gradually, we can still transition to something stronger.  When you run the upgraded software for the first time, it would re-sign all your money with the new stronger signature algorithm.  (by creating a transaction sending the money to yourself with the stronger sig)

That's going to have to involve sending your coins to a completely different set of HDKeys because if the curve is also broken in addition to ECDSA, then just signing all local transactions with the new signature algorithm won't be enough. Most people don't have local unsigned transactions anyway, just old coins.

There are going to be coins robbed, no doubt.
Absolutely, but I will continue to argue it is preferable for some lost coins to be stolen and we all take a short term hit on the price than it would be to compromise one of the core principles of bitcoin by unilaterally deciding to freeze or seize some coins.

There's no reason to agree to such a thing anyway - We are not Tether or Bitcoin SV.