Let’s say asymmetric public key cryptography is wide open, and can be broken using a public key or the signature. Namely, that I can determine the private key using the information revealed in a public key or the signature. Let’s also say that this can be done today using a classical computer. Not the quantum computing paradigm, which was designed to trick nerds into using unreliable computers when classical computers are sufficient, but people just don’t publicly or widely know how. Let’s say that this means I can steal any Bitcoin today from anyone – whether it is Pieter Wuille’s, Andrew Miller’s, or the rest of the people who managed to sucker the world into putting their life savings into Bitcoin.
Now, unlike gold, which to steal requires you to do things like siege Fort Knox and have a military to do successfully, it seems like some modest cryptanalyst chaps can just sit in their pjs and steal Bitcoin during their lunch break while outside GCHQ or at a Starbucks outside Fort Meade. It can be cold in those locales, and it is best to steal Bitcoin while comfortable.
So, does Bitcoin have a way to orderly transition away from ECC?
BTW, being able to steal Bitcoin by breaking asymmetric public key cryptography means I can double spend all day long irrespective of your blockchain. Worse if I use some of the stolen Bitcoin to incentivize the transaction I can steal Bitcoin faster and have it confirmed ahead of schedule. Are you going to fork like ethereum to fix all the stolen Bitcoin?
How many vulnerabilities need to be disclosed in Bitcoin cryptographic choices before honest people stop getting robbed?
For those reading this, if you really want Bitcoin to be the next international currency, and not something decided at Bretton Woods 2.0, then you should consider if there exist people on the entire planet that can successfully crack cryptographic primitives and whether a currency based on these is a wise idea. Because economic utility based on successful code breaking almost certainly guarantees there will exist at least one person that will do this. Realistically, a lot more.