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Will Quantum Computing help recover "the forever lost" bitcoins?
240 sats \ 12 comments \ @hasherstacker 19h AskSN
Will Quantum Computing Help Recover the Forever Lost Bitcoins?
What Are the “Forever Lost” Bitcoins? There's bitcoins that are considered lost forever.
I got Two questions:
  1. Will Quantum computing help recover the forever lost bitcoins?
  2. Who will own the lost bitcoins after being recovered?
How Are These Bitcoins Protected?
The vast majority of Bitcoin wallets, use standard ECC—specifically ECDSA with wallet address types such as: P2PKH, P2SH, P2WPKH and P2TR
Anyone who controls the key controls the coins.
Will Lost Bitcoins Be Recovered, or Simply Stolen?
If quantum computing becomes practically scalable, it will only make Bitcoin even stronger.
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31 sats \ 1 reply \ @OT 17h
That's going to be the next debate.
Steal or burn.
For now I'm on the steal side.
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21 sats \ 0 replies \ @Undisciplined 16h
Me too
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5 sats \ 0 replies \ @klk 18h
Probably yes. Most likely the cost of “stealing” those coins will be close to their value though. As it currently happens with: https://privatekeyfinder.io/bitcoin-puzzle/
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10 sats \ 0 replies \ @arrowdrive 16h
I consider that any coins up for grabs that don’t move to quantum secure addresses to be a prize to whoever achieves quantum supremacy first.
Also only coins in old P2PK addresses, and P2TR addresses are immediately vulnerable. Also any coins in other addresses that have been re-used (ie: already spent from).
Any addresses that are a “pay to hash” type are safe from immediate threats up until an attacker has a quantum computer fast enough to derive the private key in the time between when a payment is broadcast until it’s included in a block, since the public key isn’t revealed until it’s spent from. So coins lost forever in these addresses will likely remain lost forever.
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15 sats \ 2 replies \ @030e0dca83 16h
All active users will move to quantum resistant addresses everything else will be as a gold under ground, people will start mining these lost Bitcoin with quantum Asics. We will never have more than 2.1 quadrillion sats
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13 sats \ 1 reply \ @south_korea_ln 15h
That's a nice way to put it. Just a new kind of mining.
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0 sats \ 0 replies \ @030e0dca83 15h
What don't kill us make us more strong
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10 sats \ 0 replies \ @wilto 17h
I'll believe it when I see it.
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0 sats \ 0 replies \ @kepford 14h
My counter question. Will "Quantum Computing" ever have any practical use?
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0 sats \ 0 replies \ @Filiprogrammer 15h
Will Quantum Computing Help Recover the Forever Lost Bitcoins?
We are SO far away from that. Not even sure whether this will ever happen. As far as I am aware, the largest number that was successfully factored with Shor's algorithm is 21. 😂️
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0 sats \ 0 replies \ @carter 16h
There was this proposal on the mailing list https://mailing-list.bitcoindevs.xyz/bitcoindev/08a544fa-a29b-45c2-8303-8c5bde8598e7n@googlegroups.com/
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0 sats \ 0 replies \ @OT 16h
https://bitcoinmagazine.com/technical/what-happens-to-bitcoin-when-quantum-computers-arrive
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