Could Quantum Computing Threaten Satoshi Nakamoto's Bitcoin Fortune?

Quantum Computing and Bitcoin Security

Concerns about the security of Bitcoin creator Satoshi Nakamoto's fortune have been raised by crypto analyst Camol, who suggests that advancements in quantum computing could eventually compromise Nakamoto's 1 million BTC wallet. This claim has sparked debate, with many experts dismissing the possibility as exaggerated.

Can Quantum Computers Crack Bitcoin?

In a recent post, Camol warned that within the next decade, quantum computing could advance enough to breach Bitcoin's security protocols, such as the secp256k1 elliptic curve. He argues that Shor's Algorithm, a quantum algorithm, might eventually reverse Bitcoin's cryptographic defenses. Camol also noted the potential vulnerability of Nakamoto's wallet, which is protected by a 160-bit hash.

Expert Opinions on Bitcoin's Safety

Crypto analyst @level941 countered Camol's claims, asserting that Satoshi's Bitcoin holdings are more secure than most due to their storage in early P2PKH addresses. The public keys remain hidden, making it unlikely that quantum computers could breach them soon. Furthermore, current quantum machines lack the qubits necessary to break Bitcoin's cryptography.

Future Implications

Experts suggest that even if quantum computing advances, a transition to quantum-safe signature schemes could lock Satoshi's coins permanently, preventing unauthorized access. Current reports indicate that the development of a Bitcoin-breaking quantum machine is not anticipated in the near future.

Image created with Dall.E, chart from Tradingview.com