Bitcoin Q&A: Is Quantum Computing a Threat?

Is quantum computing a threat to Bitcoin? How can Bitcoin become more secure against a quantum computing attack? Will this upgrade require moving coins to new addresses? Will it be implemented as a soft or hard fork? What happens to coins controlled by lost keys?

CORRECTION: Apologies for the confusion - regarding the question of whether Satoshi's (suspected) coins would be vulnerable to a quantum computing attack on ECDSA, the correct answer is in the first clip at 3:05. While what I initially say at 6:10 is true, that Satoshi did not spend their coins, those coinbase transactions still used pay-to-public-key (P2PK) instead of pay-to-public-key-hash (P2PKH), which means the public keys are already exposed.

Chapters
0:00 How can we safeguard bitcoin against quantum computing?
3:31 Satoshi's one million coins and quantum computing. Does quantum computing mean that, at some point, all lost coins could be reclaimed because they can't be moved to an upgraded address?
5:13 Quantum computing attacks will most likely affect the digital signature algorithm first

RELATED:
Migrating to post-quantum cryptography

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

Subscribe to the channel to learn more about Bitcoin & open blockchains!

[drgod]

You are living legend, man. Respect.

[courtjansma]

Love your content, every single circle I'm in, in the crypto world, continuously references your work, it the most positive and respectful way. Thank you Andreas!

[danthemancan]

Quantum computing would not only affect Bitcoin/Crytpo, it will ALSO destroy the current Banking/Credit/Financial system a lot easier.

Nobodies money will be safe in the current financial/banking/credit system with quantum computing, at least with Bitcoin there are different layers of security that we can switch to to protect our money.

[climbers]

2:45-3:31 "You can change the algorithms of all the active wallets, but some wallets have lost keys or the people who had those keys died and they can't change the signing algorithm which means those wallets will be captured by quantum computers. So we will know what quantum computers exist when satoshi's coins move... That's one of the reasons why they will move. Eventually they will move and they will move because eventually someone will be able to break the keys. But for the rest of the eco system we can migrate quite easily to another algorithm. It's not really as big of a threat that people think it is."

[joostvw]

Ionq got a 32 Qbits quantum computer running.
The game changers are being build. Get ready for the new game.

[digitalbread]

Man I can't even begin to imagine how this Technologies going to evolve over the years decades and centuries 🤔. My great great great grandchildren are going to be living in a world I can't even comprehend right now. Lol

[Contractedharry]

So quantum computing is a threat to Bitcoin

[kevinwetie]

it's hard to watch Andreas without having tears coming out of our eyes

[JanPBtest]

1:27 The Enigma was broken in 1932/33 in Poland (by a guy named Marian Rejewski) and yes, the Poles _did_ keep it secret until July 1939 when they invited the French and the British and told them the whole theory and methods. It even included the "bomb" machine, later improved by the Bletchley Park people and Alan Turing there. Strangely enough, Rejewski was never invited to work at Bletchley Park despite him being in London at the time. A borderline criminal neglect, if you ask me: the guy who broke the Enigma is _right there_ and is _not_ asked to participate in a major lifes-saving war effort. Astonishing.

[JC-uolt]

Watching 5 years on, none foreseeable future is now around the corner. Do we need to start worrying? 🤔

[dongqutom]

Satoshi's bitcoins are on addresses that coincide with their public key, because it was an early version of the protocol and addresses were not compressed. So they will be targeted by quantum computers at some point

[panagiotisagelakis]

Amazing and smooth explanation as always keep up!!

[EvenMoreFreedomCOM]

Wow! Interesting quantum future ahead of us.

[flyerkasten]

Thank you very much für the explanation. Since there is a big acceleration in Quantum computer development many people say that Q-day is much closer than we think. What do you think about it?

[ScottBlockBeats_]

At some point, the consensus algorithm for bitcoin will have to change to adapt to quantum computing. When that happens, all the "dead" wallets will be found out because they won't updateto the new consensus algorithm and the quantum computers will solve their out-of-date encryption.

[cartaxies]

So interesting! thanks for sharing your knowledge with all of us Andreas :)

[rudyleplane]

Quantum Computing is a great marketing term for - 'far fetched' Great work as always Andreas!

[rishabhhedaoo]

This guys makes me realise that I am literally a noob in the bitcoin

[victormendoza]

Adjustments to the monetary system is not small fish to the NSA. I don't work for the NSA, but to say something like that is a bit off, or to sure of yourself and making the classic smart person mistake.

[mulllhausen]

6:20 iirc a lot (all?) of satoshi's transactions were p2pk - ie he spent directly to the public key. so we do know his public keys