2025-04-22T12:09:40Z https://nostr.now lianabitcoin https://nostr.now/npub1ejkyx6hvrs0v9tj3ft0qhpjwxdasfnfsessu2rtnuzhtp4866u2s00expu https://m.primal.net/PcBx.jpg https://m.primal.net/PcBx.jpg https://nostr.now/nevent1qqsqt493kcs6vxxu7wqzp2mpnfnnuh4ffh23d9u4j9vx83x7leu44pczyrx2csm2aswpas4w299duzuxfcehkpxdxrxzr3gdw0s2avx5ltt32909rrs How quantum computing affects Bitcoiners, Part II<br/><br/>The second part of our summary of Chaincode Labs&#39; excellent paper on Bitcoin and quantum resistance.<br/><br/>Migration strategies and the burn vs steal debate.<br/><br/>Bitcoins that are locked in addresses with publicly-revealed public keys are most vulnerable to theft from future quantum computers:<br/><br/>- Satoshi&#39;s coins<br/>- Other early coins that may be lost<br/>- Reused addresses<br/><br/>Researchers estimate that there are 6 million such vulnerable bitcoin<br/><br/>It&#39;s not just Satoshi&#39;s coins and coins with lost keys that are vulnerable<br/><br/>Some prominent examples of addresses with exposed public keys are yellow highlighted in this image from <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/nprofile1qy08wumn8ghj7mn0wd68yttsw43zuam9d3kx7unyv4ezumn9wshsz8thwden5te0dehhxarj9e3xjarrda5kuetj9eek7cmfv9kz7qpq7u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrquyd27a" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>Jameson Lopp</span> (<span class="italic">nprofile…d27a</span>)</a></span> &#39;s article on quantum resistance: <br/><br/><a href="https://blog.lopp.net/against-quantum-recovery-of-bitcoin/">https://blog.lopp.net/against-quantum-recovery-of-bitcoin/</a><br/><br/> <img src="https://blossom.primal.net/1a574337a4f4402e5b78e847b22a4de85d509f5ef0cb9c6d56f9069d5aac1929.jpg"> <br/><br/>Ideally, we come up with a way to make all coins safe from quantum attack<br/><br/>All quantum resistance proposals currently require that users send their coins to new, quantum resistant addresses<br/><br/>There are ~190 million UTXOs<br/><br/>The good folks at Chaincode Labs pulled together research on how long it might take to migrate everyone&#39;s bitcoin to quantum resistant addresses<br/><br/>Estimates vary between 140 and 560 days<br/><br/>This is one very strong reason to start working on this problem long before it becomes a problem<br/><br/>There are a number of proposals for how this migration could work:<br/><br/>But all of them first require a soft fork or hard fork to introduce new quantum resistant address types<br/><br/>Commit-Delay-Reveal (CDR) has users create a quantum-resistant tx with an op-return that references the public key of their vulnerable coins<br/><br/>A soft fork then enforces a time delay before the coins can be moved by a 2nd tx that is signed by the original key and the op-return key<br/><br/>Quantum Resistant Address Migration Protocol (QRAMP) proposes a hard fork that enforces a flag day beyond which coins in quantum vulnerable addresses can no longer be spent<br/><br/>QRAMP could be used in combination with proposed BIP 360: pay to quantum resistant hash addresses<br/><br/>Hourglass strategy<br/><br/>A soft fork enforces a new rule that only a certain number of txs spending from quantum vulnerable addresses may be included in any one block<br/><br/>This slows the rate at which such coins could be stolen (or spent)<br/><br/>Might also generate a lot of fees for miners<br/><br/>In addition to the question of how Bitcoin achieves quantum resistance, there is also this: <br/><br/>What happens to the coins to which nobody has the keys?<br/><br/>Some proposals permanently freeze them while others leave them up for quantum theft.<br/><br/>Burn or steal?<br/><br/>The burn argument goes like this: Sure we don&#39;t want to prevent anyone from spending their coins, but this is a clear vulnerability: coins that the protocol guarantees as safe can be stolen.<br/><br/>Therefore, permanently freezing the lost coins best maintains Bitcoin&#39;s rules<br/><br/>The steal argument goes like this: Bitcoin is built on enforcing the sovereignty of key-owners. Changing the protocol to freeze some coins violates this important value. <br/><br/>Bitcoin should never change its rules such that we risk preventing a user from spending their coins. <br/><br/>Where does this leave us?<br/><br/>Making Bitcoin quantum resistant requires<br/><br/>1. A soft fork<br/>2. Migrating all coins to new addresses<br/>3. Tough decisions about what to do with coins that can&#39;t migrate<br/><br/>Bitcoin has so many stakeholders at this point that such an undertaking will clearly be slow<br/><br/>Even if you think that quantum computing is far overhyped, we really should start moving on it.<br/><br/>The best thing you can do is educate yourself. Read Chaincode Labs&#39; paper here: <br/><br/><a href="https://chaincode.com/bitcoin-post-quantum.pdf">https://chaincode.com/bitcoin-post-quantum.pdf</a><br/><br/>Huge props to Clara Shik and <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/nprofile1qyvhwumn8ghj7urjv4kkjatd9ec8y6tdv9kzumn9wshsz9nhwden5te0wp6hyurvv4ex2mrp0yhxxmmd9uqzq4hpcs6tq5v9gr5nl8k2g3qv59s38xx52kuljypfz9zzl5d63u7c8q48w0" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>deadmanoz</span> (<span class="italic">nprofile…48w0</span>)</a></span> for their work! 2025-06-05T13:40:09Z https://nostr.now/nevent1qqs9a0mqgtquj5yp3t78x0uupva02hdl74km90aegu7f62h44nz7yzqzyrx2csm2aswpas4w299duzuxfcehkpxdxrxzr3gdw0s2avx5ltt32cr3az0 How quantum computing affects Bitcoiners 🧵<br/><br/>Summarizing Chaincode Labs&#39; excellent recent paper on the topic<br/><br/>tl;dr <br/>😅 Quantum computers do not pose a threat to Bitcoin today<br/>😰 But many researchers agree they will in the next 5 - 10 years<br/>🧐️ Bitcoiners should start working on mitigations<br/><br/>Here&#39;s how quantum computers could threaten Bitcoin:<br/><br/>An everyday computer can derive a public key from a Bitcoin private key in a few microseconds<br/><br/>But the reverse is much more difficult:<br/><br/>Today&#39;s supercomputers would take ~100 quadrillion years to find the private key for a known public key<br/><br/>Quantum computers could theoretically derive a Bitcoin private key from a known public key in just a few hours<br/><br/>So the primary risk quantum computing poses to Bitcoiners is for situations where the public key to your coins has been exposed<br/><br/>How might that have happened?<br/><br/>Long-range quantum attacks:<br/><br/>Some address types expose their public key:<br/><br/>Pay to public key<br/>Pay to multisig<br/>Pay to Taproot<br/><br/>Since these public keys are exposed as soon as the address receives coins, quantum computers may be used to derive their private keys and steal the coins<br/><br/>Short-range quantum attacks:<br/><br/>When you spend bitcoin, you reveal the public key for the coins in your transaction<br/><br/>A quantum computer may be used to derive their private key and spend them in a new transaction with a higher fee before your transaction is included in a block<br/><br/>Address reuse:<br/><br/>Coins that reuse an address from which other coins have already been spent may also be vulnerable to theft because the previous spends revealed the address&#39;s public key<br/><br/>A quantum computer may be used to derive private keys to any coins still at a reused address<br/><br/>Exposed xpubs:<br/><br/>Many services request that Bitcoiners provide an extended public key (xpub) used to generate addresses<br/><br/>If such an xpub is leaked, all addresses generated by that xpub may become vulnerable to having their private keys derived by a quantum computer<br/><br/>Advances in quantum computing could also affect mining:<br/><br/>Quantum computers may slightly weaken the security of the SHA256 hash function used in mining, but it is unlikely they could break it<br/><br/>This means Proof of Work is probably still reliable in a quantum computing future<br/><br/>However, quantum miners may be subject to much stronger centralization pressures:<br/><br/>the best quantum hardware &#34;would gain a disproportionate speedup, eliminating the incentive for less powerful quantum miners - as well as those who lack quantum computers - to participate&#34;<br/><br/>Quantum resistance<br/><br/>Fortunately, there are a number of feasible proposals for how Bitcoin could become resistant to quantum attacks<br/><br/>Unfortunately, most of them involve using much larger signatures (read: quantum resistant spending might mean you pay a lot more in mining fees)<br/><br/>Tomorrow, we&#39;ll look at the second half of Chaincode&#39;s paper: Migration strategies and the big question facing Bitcoiners: burn or steal?<br/><br/>Read the full Chaincode report at: <a href="https://chaincode.com/bitcoin-post-quantum.pdf">https://chaincode.com/bitcoin-post-quantum.pdf</a><br/><br/>And be sure to follow the report&#39;s authors: Clara Shik &amp; ozdeadman 2025-06-03T12:02:44Z https://nostr.now/nevent1qqsyznx2uuxxe2962pv2xxj207h08l9kfzy4euh9ppclfy3dncfk3vgzyrx2csm2aswpas4w299duzuxfcehkpxdxrxzr3gdw0s2avx5ltt326uqfjw Want to learn more about timelocked recovery keys and how they can change the security trade-offs for your backups?<br/><br/>We wrote an article about it. Check it out 👇 <br/><br/><a href="https://wizardsardine.com/blog/what-is-a-bitcoin-recovery-key/">https://wizardsardine.com/blog/what-is-a-bitcoin-recovery-key/</a> 2025-05-27T15:22:42Z https://nostr.now/nevent1qqsguwl8l7d9rrwgfysxpxxrlzs8zdrpjax7xshgcde0m888d8cjqpgzyrx2csm2aswpas4w299duzuxfcehkpxdxrxzr3gdw0s2avx5ltt32qr3njz In reply to <a href='/nevent1qqsd8vmltg40m0j7fn2j5e8jcn5pfwz4eakq85c4lv3p4gyjglh0qyspr9mhxue69uhhqatjv9mxjerp9ehx7um5wghxcctwvsnwqn74'>nevent1q…qn74</a><br/>_________________________<br/><br/>r u gonna pickle &#39;em? 2025-05-24T19:00:02Z https://nostr.now/nevent1qqsqmrkkqw66dtgrmlrkaspk3f8kt6up2x774h7t7vegt7e4kpaljnszyrx2csm2aswpas4w299duzuxfcehkpxdxrxzr3gdw0s2avx5ltt32m9qtcx Nacho Bitcoin - the music video<br/>Feat. Blackrock, Coinbase &amp; Friends<br/><br/>Sound up 🔊 <br/><br/><video controls width="100%" class="max-h-[90vh] bg-neutral-300 dark:bg-zinc-700"><source src="https://blossom.primal.net/8919971c6da823c4af5a3db7ea589c951588e62906b8cf59ee891c5d847ea3e5.mp4"></video> 2025-05-24T18:14:57Z https://nostr.now/nevent1qqsf7rpknrnefxkg7kl5ndws4sk3suwxsgl2k5ctfyue00dwhgecd3szyrx2csm2aswpas4w299duzuxfcehkpxdxrxzr3gdw0s2avx5ltt3246x8kk How can Bitcoin consensus rules help with your estate planning?<br/><br/>Looking forward to hearing from Kevin Loaec and Joe Wood at our Bitcoin Inheritance Webinar!<br/><br/>As co-creator of Liana Wallet, Kevin is at the forefront of development using Bitcoin&#39;s native scripting language <br/><br/>Joe Wood is the founder of <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/nprofile1qyxhwumn8ghj7mn0wvhxcmmvqywhwumn8ghj7mn0wd68yttsw43zuam9d3kx7unyv4ezumn9wsqzq687u7ahc2kpraeqd2qhre4e299ttkxnz9qnm5d0s6g80r82urkswmhrum" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>satoshipacioli</span> (<span class="italic">nprofile…hrum</span>)</a></span> a leading accounting firm for Bitcoiners in the US. <br/><br/>Together they will discuss the technical and tax-planning steps Bitcoiners can take to provide a smooth inheritance process for their heirs.<br/><br/>Sign up today! 👇<br/><br/>🗓️ April 8<br/>🕣 9:00 AM UTC-4<br/>📍 <a href="https://us05web.zoom.us/meeting/register/ir6n9QqORW20wxH3Qv12Mg">https://us05web.zoom.us/meeting/register/ir6n9QqORW20wxH3Qv12Mg</a> <br/><br/> <img src="https://m.primal.net/QAsH.jpg"> 2025-04-01T17:56:07Z