There are worries about Bitcoin’s security due to advancements in quantum computing. Satoshi Nakamoto, Bitcoin’s creator, holds 1 million BTC in a format that could be vulnerable to hacking.
Key Points:
- Old Transaction Format: Satoshi’s coins use an outdated method that shows public keys, making them easier to hack.
- Freezing the Coins: Some want to freeze these coins to prevent theft, but this would require changing Bitcoin’s rules, which is complicated.
- Impact on Bitcoin Principles: Freezing could contradict Bitcoin’s core ideas of decentralization and not altering the network’s history.
- Future Risks: While the threat isn’t immediate, advancements in quantum tech could increase vulnerability.
Quantum Attack Chances
Currently, the risk of a successful quantum attack on Bitcoin is low but not impossible:
- Current Tech: Quantum computers aren’t yet powerful enough to break Bitcoin’s security.
- Future Developments: More powerful quantum computers are being developed, with varying predictions on when they’ll be ready.
