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I mostly care about the available time for Bitcoin to switch to quantum secure cryptography. It’s scary that people wouldn’t accept a 10x fee increase which wou
by xiphias2 7y ago
I mostly care about the available time for Bitcoin to switch to quantum secure cryptography. It’s scary that people wouldn’t accept a 10x fee increase which would be necessary for the switch.
- postalrat 7y agoIt's already too late. Even if they switched now it wouldn't save all the coins stored in older addresses. They need to choose between removing a large part of the coins from the blockchain or accepting that those coins will be taken by whoever has the technology first. Both options are bad for bitcoin.
- xiphias2 7y agoIt'a not that bad, it's easy to add a new digital signature to Bitcoin (the hard part is developing one that's accepted by the community). Most of the money can be consolidated to less UTXOs. The problem will still be that we have no idea when the current signatures get unsecure.