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This post has been edited by Sakura12: Today, 06:28 clock

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Security – How can I protect my money if a quantum computer breaks the ECDLP on which Bitcoin relies?

Recently, an interesting question was published discussing the idea that hashed addresses are (meaningfully) quantum-resistant.

As Andrew's answer to this question indicates, paying to a hashed address is not "quantum safe" for your coins. However, it is mentioned that a BIP32 seed for the safe recovery of coins against the threat of zero knowledge detection is used quantum computer capable of solving the discrete logarithm problem of elliptic curve (ECDLP).

Of course, if this is possible, more complex address designs have advantages (in this case, the BIP32 key derivation function appears to be more quantum-secure).


So my question is: Which address constructions? are is known to provide a degree of security from a quantum computer that defeats the ECDLP? How is this security given? How can a user create addresses today to have the best chance that his Bitcoin assets will survive a high-performance quantum computer?

Note that the purpose of this question is to examine what a user can do now to reduce the risk of a sudden and unexpected failure of ECDLP's worst-case scenario. Obviously, over time there are less scary ways to switch to a quantum-proof algorithm.

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Security – Whose intent is it to stop coin bank developers from charging all accounts and running away with the money?

The same kind of business confidence and legal things that run a stock market or a bank, I suppose.

There has been an exchange in the past that did exactly what you said, and they were just as legally prosecuted as any other business that cheats on its customers.

Here are some links: https://www.coindesk.com/six-arrested-over-cloned-crypto-exchange-that-stole-e24-million

https://medium.com/datadriveninvestor/investigating-the-40m-binance-hack-c5fba32900f1

In addition, at least in the case of Bitcoin and Ethereum, the currently two most valuable crypto, and the more money they can hope for, the harder it is for them to transform that crypto, back to fiat with every transaction in the blockchain.

You also need to keep in mind that most experienced crypto users advise new users not to exchange their coins and instead store them in a safe off-line location, owning our money and replacing the bank, which is one of the ideas behind cryptocurrency The problem you are describing is one of the reasons.

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