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2710 sats \ 2 replies \ @raw_avocado 22h \ on: What should be done about Satoshi's coins when ECC is broken? bitcoin
1st of all we can't really tell which coins belong to Satoshi precisely. The best heuristic is the Patoshi pattern, but even that has certain caveats.
And even more I just don't understand where this attitude is coming from that a lot of people get to have a say in how someone moves their money? It does not matter if it is Satoshi, or anyone else, it's not your money!
Let's say that Satoshi emerges and provides some kind of 0-doubt cryptographic proofs that he owns a BIG amount of coins and he says he is ok with confiscating these coins, it's still not a good idea. (i know that in this hypothetical, the better thing would be to move the coins to some quantum proof addresses, but im trying to make a point here :p)
Why? Well because this creates a bad precedent where you practically confiscated someones BTC and they you censored them for life.
Also just because coins don't move "before that time", don't really mean anything, except that the coins did not move. Maybe I am missing something but I don't see how any educated conclusion can be drawn from that.
Let's say we find(and i am sure there are such cases) some coins that are all up for grabs but can only be grabbed after block XXX,XXX, do we fork these coins off also? Ofc, no.
But Satoshi's coins are a big quantity, you don't want them in the wrong hands.
  1. If what makes this action justifiable is the amount of the coins, then where do you draw the line? I mean I struggle to come up with a logical answer even for the sake of the argument.
  2. There is no such thing as wrong hands, because there are no hands, just keys that sign TXs. The whole point of having a blockchain is to eliminate any sort of intention that can not be expressed in a script.
Is it even correct to call this an attack? I mean from the POV of the network things are just functioning as usual. How could you tell the Bitcoin Network that this is something incorrect?
This is not a problem of the Bitcoin Network not being good at dealing with Quantum Computers, but a problem of Meat Space Intentions vs Blockchain Intentions.
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0 sats \ 1 reply \ @Murch 5h
Isn’t there a distinction to be made between coins being confiscated and coins being burned?
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0 sats \ 0 replies \ @raw_avocado 3h
You are very correct to point out that there is a distinction between confiscating and burning the coins; however, I don't think that changes any of my arguments.
But I will say this: if I confiscate or burn your shoes, you will end up barefoot in the same way.
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