How To Quantum-Proof Bitcoin

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In this video, I discuss how to quantum-proof Bitcoin by introducing a new quantum-resistant digital signature algorithm.

Quantum computers are just as much a threat (and maybe more) to the government and the traditional banking system, which tend to be much more slower-moving and bureaucratic.

By keeping your Bitcoin in P2PKH addresses that have not been reused, you can help to protect your own coins from a quantum attacker.

Not investment advice! Consult a financial advisor.

Shor's algorithm:

ECDSA:

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#quantum

Disclaimer

[Bitcoin_University]

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[stephaniukj]

The level of research you do for each video and the questions you come up with (and answer) always astounds me. Well done, sir, as always.

[reneluchinger]

Excellent. Another one of my tiny worries gone. Thanks, Matt. You should add this phrase to your channel: Bitcoin University, making hodling easy since 2016!

[moneycrab]

Either everything's at risk or nothing is. I'm okay taking Pascal's wager on this

[morteza]

All the L2s and side chains and all wallets and all services and lightning network has to be rewritten based on quantum signatures. It's not gonna be smooth. Fees will also spike insanely high for a couple of months. Better to not transition in a hurry.

[Btree]

I love your channel. It’s the last thing I listen to before I go to sleep. I’ve learned so much and I’m so thankful

[digital_gravity]

Great summary. I suspect quantum computers will be used by miners one day for orphaned coins.

[bitcoinatesla]

I think Estonia is working on Quantum Anti-virus/firewall. My question is why would they be working on protecting something that doesn't even exist yet. Unless it already does...? This is the one thing that has me worried about bitcoin. Assuming it does exist, and there is a government hiding this tech (like they usually do with advanced tech), then we should probably get the ball rolling on that quantum-resistant signature algorithm to be on the safe side. Thank you for posting your videos!

[Fudmottin]

IBM is renting out quantum computing now. It's very expensive! I have no idea if the NSA is one of IBM's customers for that service. The NSA has a mandate to make sure US government computers and networks are secure.

[jamescoulter]

I’d be interested in your rebuttal to this article (I can’t post a link, but google will find it):

Fourteen Reasons Not To Invest In BTC by Justin Bons

[Ed]

How would this process look like to navigate to the new address type? Especially for the Multi-sig configuration. Thanks

[apizzaboy]

Worth mentioning that p2tr addresses encode public keys that can spend the money in them, which means,
they aren't like segwit and P2PKH addresses. and could be breached by a powerful quantum computer.

[austinfoster]

What if you hold it on a Ledger and the transaction can only be approved with the physical device?

[azdjedi]

How ironic it'd be if everybody had their bank account quantum hacked and only Bitcoin survived lol.

[AngelicStreak]

QC are not a threat to the internet, as you said. The internet will run even if there was no crypto on it. The only things that will be insecure will be confidential exchange of information over the internet, including banking, e-commerce, sensitive emails, etc. But the internet and web will continue working even if you stripped all cryptography from it.

[TopShelfMontana]

one thing you didnt address is a quantum computer doing mining.

[copycatt]

Wait a minute. So with quantum computers all bitcoin must be moved to updated resistant addresses, but all “lost” bitcoin would essentially be stolen / recovered.

Please review what are the implications of all of this lost btc hitting the market.

[darrelldawson]

@0:31 yeah, but you better believe people said that during the great depression (minus the computer of course) history repeats itself. Everyone will be crazy to think it's not very close and/or not possible

[Paul-jpzz]

A powerful enough quantum computer is still very far off, but the point is taken. You've spoken in the past about BTC being "rip van winkle" proof - fall asleep for 50 years and wake up, and know your coins are safe. Not so much in this scenario! Still not going to create FUD for me.

[roylovell]

Quantum decoherence will prevent any large scale development of quantum computers. Quantum computers sound good in theory, not IRL, like flying cars. My 8000 satoshis. My cred: MS Phys, retired AP Phys teacher. (Also, when we say quantum computer, we mean quantum SOFTWARE. Quantum HARDWARE, that is, transistors, is based on P/N junctions, each of which is a coherent quantum system. Transistors have been around since 1958, and are ubiquitous in every computer. All computers therefore are quantum computers because they all have quantum hardware, transistors. Also, any quantum software computer has to be kept as close as possible to absolute zero. They won't ever fit in your pocket!)