Quantum computers may one day be able to crack ordinary Bitcoin addresses. It’s no longer science fiction—it’s only a matter of time.
Early coins are especially vulnerable, including those linked to Satoshi. One possible solution is simply to freeze all such coins. Many people don’t like that.
Cory Fields has a more interesting idea.
To steal 1 BTC, a thief must first put up their own 1 BTC as collateral. Both amounts are locked. The owner can set a “mine” in advance—a hidden proof that the coins belong to them. If a thief makes a move, the owner reveals the proof, gets their coins back, and takes the thief’s collateral.
The key point: the thief doesn’t know in advance where the mines are. Every theft becomes a lottery—you might get the coins, or you might lose both them and your collateral.
The idea is purely theoretical for now. It only works for people who still have their keys, and it requires quantum-resistant wallets, which don’t exist yet.
#BinancePick
Early coins are especially vulnerable, including those linked to Satoshi. One possible solution is simply to freeze all such coins. Many people don’t like that.
Cory Fields has a more interesting idea.
To steal 1 BTC, a thief must first put up their own 1 BTC as collateral. Both amounts are locked. The owner can set a “mine” in advance—a hidden proof that the coins belong to them. If a thief makes a move, the owner reveals the proof, gets their coins back, and takes the thief’s collateral.
The key point: the thief doesn’t know in advance where the mines are. Every theft becomes a lottery—you might get the coins, or you might lose both them and your collateral.
The idea is purely theoretical for now. It only works for people who still have their keys, and it requires quantum-resistant wallets, which don’t exist yet.
#BinancePick