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You do not understand the situation. Breaking ECDSA would mean everyone gains access to everyone else's private keys. There is no recovery after that, because e
by LightMachine 5y ago
You do not understand the situation. Breaking ECDSA would mean everyone gains access to everyone else's private keys. There is no recovery after that, because even if the network is updated to use a quantum-resistant scheme, how do you prove you're the owner of that BTC? And without a central party, who decides you're the rightful owner of your BTC, if 10's of other people insist they own it?
- drdeca 5y agoIf the quantum resistant scheme is set up long before it is necessary, people could have plenty of time to transfer their coins from quantum-vulnerable addresses to quantum-resistant addresses, And then the community could decide “if you didn’t update your addresses before quantum computer attacks were viable, even though you had 5 years to do it with strong evidence that it would be necessary eventually, and lost your coins as a result, then sucks to be you”