Bitcoin Core dev just dropped a wild quantum defense idea:
Instead of freezing old $BTC, trap the thieves.
The threat: quantum computers could crack ~7M $BTC in old wallets. Once they get the key, they sign txs like the real owner. Network can't tell the difference.
Cory Fields' proposal: to move old $BTC, you'd first need to lock up the same amount as collateral for a few weeks.
During that window, the real owner can reveal a pre-hidden proof. If they do, they keep their $BTC AND take the thief's collateral.
The thief never knows if a wallet is trapped. Every attack risks losing their own money.
Obvious limits: only works if you still have your keys. Lost coins and Satoshi's stash stay exposed. And you need $BTC to unlock your own $BTC.
Still just a dev mailing list idea, but the core angle is genius: make attacking expensive and risky for the attacker.
Instead of freezing old $BTC, trap the thieves.
The threat: quantum computers could crack ~7M $BTC in old wallets. Once they get the key, they sign txs like the real owner. Network can't tell the difference.
Cory Fields' proposal: to move old $BTC, you'd first need to lock up the same amount as collateral for a few weeks.
During that window, the real owner can reveal a pre-hidden proof. If they do, they keep their $BTC AND take the thief's collateral.
The thief never knows if a wallet is trapped. Every attack risks losing their own money.
Obvious limits: only works if you still have your keys. Lost coins and Satoshi's stash stay exposed. And you need $BTC to unlock your own $BTC.
Still just a dev mailing list idea, but the core angle is genius: make attacking expensive and risky for the attacker.
