"...Satoshi has about $90 billion worth of bitcoin that’s never been touched since the cryptocurrency’s earliest days, much of which .. would be stealable by anyone who could break elliptic curve cryptography.. Arrr, ’tis avast Hilbert space!"🧐 scottaaronson.blog?p=8567 - ThreadSky

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safavi.bsky.social • 46 days ago

"...Satoshi has about $90 billion worth of bitcoin that’s never been touched since the cryptocurrency’s earliest days, much of which .. would be stealable by anyone who could break elliptic curve cryptography.. Arrr, ’tis avast Hilbert space!"🧐
https://scottaaronson.blog/?p=8567

Comments

mickeykats.bsky.social•46 days ago

What would the value become the moment that this bitcoin starts to move, indicating that someone has access to it now?

I assume still billions, but far below 90B...

rajivkrishnakumar.bsky.social•45 days ago

Yes I can also imagine if bitcoin wallets suddenly become hackable, people will not want to use bitcoin and hence its value will plummet

safavi.bsky.social•45 days ago

The attack he speaks about is only relevant for older bitcoin addresses where the public key isn’t hashed. Then you can get the private key with a quantum computer.

rajivkrishnakumar.bsky.social•45 days ago

Ah makes sense! And presumably could newer wallets be eventually changed to use PQC? Then I could imagine the price of bitcoin crashing when some accesses Satoshi's wallet (over-reaction of public) and it then going back up?

safavi.bsky.social•45 days ago

New addresses hide the public key, so from what I understand you only reveal the key when you do a transaction, so then the quantum attacker has a short window of time to break encryption.. (minutes to maybe an hour), which is much harder.

safavi.bsky.social•46 days ago

Why far below? It’s less than 5% of all bitcoin

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