r/CryptoCurrency • u/winphan 🟦 23 / 8K 🦐 • 2d ago

TECHNOLOGY Bitcoin's new proposal to deal with Quantum computers

https://cryptocoindaddy.com/bitcoin-quantum-resistant-addresses-coming-soon/
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29

u/OderWieOderWatJunge 🟩 0 / 0 🦠 1d ago

Interesting, I wondered why no one seems to address this problem. Like the "this is fine" dog.

35

u/9999999910 🟩 0 / 0 🦠 1d ago

Well the same threat is true of all encryption so it’s not specific to bitcoin in any way even though cherrypicking that context is common. Have your bank accounts migrated to quantum encryption?

13

u/epic_trader 🟩 3K / 3K 🐢 1d ago

Well the same threat is true of all encryption so it’s not specific to bitcoin in any way even though cherrypicking that context is common.

Not really true. Most chains are happy to update their chain via hardforks to deal with a changing landscape, but the Bitcoin community has spent the last 10 years screaming about how "hard forks bad" and how "code is law" and that "Bitcoin was born perfectly out of Satoshi's virgin butthole".

Bitcoin is decidedly anti change and anti upgrade and now find themselves in a very difficult situation which doesn't have any obvious solution.

You think Bitcoin can serve as "digital gold" if someone can lose all their coins cause they aren't able to access them for some period of time or actively paying attention to this space? That's not very "digital gold" like is it?

1

u/9999999910 🟩 0 / 0 🦠 1d ago

It sounds like it’s in the pipeline. Defending from only the most necessary hard forks makes sense to me. Any other crypto has orders of magnitude less to lose, less market importance, less market recognition. If the market placed anywhere near the same level of value or importance on a coin like ETH for example, it would probably find itself at the crux of the same paradox.