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Curious facts from Michael@Curve Curious facts from Michael@Curve @michael_curve · 1.22K subscribers
Post #106 1.2K
A quick thought about Bitcoin quantum safety (even though I am somewhat doubtful about the claim that "everything will be hacked soon" but who knows).

Today Bitcoin addresses are not reversible to private keys even by quantum computers. But as soon as the address transacts - it well can be since public key / signature is exposed. Bitcoin transactions do not reuse addresses by default these days, so the problem appears only while tx is pending, but that can be enough time to hack the key corresponding to this address and redirect the funds.

If Bitcoin introduces a new quantum-safe signature scheme - they CAN migrate without users having to do something! Just first tx old_signature_address->new_signature_address must be a zero-knowledge proof of sorts which does not expose the public key or signature corresponding to the old address (which was using the quantum-unsafe ECDSA).

This, however, still leaves Satoshi's Bitcoins vulnerable, and there is no workaround here. So that jackpot will be available to whoever makes the first quantum computer: likely a state actor, probably the United States (which will, of course, make Bitcoin Great Again).

Otherwise (unlike Ethereum or Solana!) there's a clear and simple migration path for Bitcoin which does not require users actively migrating their accounts before quantum computers become available.
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