Satoshi’s Bitcoin Fortune Will Be Easiest Batch for Quantum Computers to Hack, Says Andreas Antonopoulos

Spread the love

Bitcoin evangelist and influencer Andreas Antonopoulos says Satoshi Nakamoto’s massive Bitcoin trove will be an easy target for quantum computers.

In a Bitcoin HARDTalk interview, Antonopoulos says that investors should keep a close watch on Nakamoto’s BTC fortune. If the dormant coins start moving, Antonopoulos says it is likely not the doing of the anonymous Bitcoin creator.

“Especially with some of the early keys, they are pay-to-public keys, the public keys are visible and the money is sitting in them.

Therefore, a quantum computer, its first target, its juiciest target, its easiest to attack target is the Satoshi stash. How do we know if a quantum computer exists that can break ECDSA (elliptic curve digital algorithm). Simple, Satoshi’s coins start moving, and in fact at some point after a decade or so it might actually be the more likely explanation.

So you see the coins moving and you’re like ‘Did Satoshi come back from the dead?’ or ‘Did a quantum computer emerge that can break [ECDSA keys]?’ As the years go by, I start leaning more towards, ‘Okay, it appears a quantum computer has emerged that can do this,’ but I think we’re still a decade away from that.”

However, the movement of Satoshi’s huge BTC stash is not a nail in the coffin for the leading cryptocurrency, says Antonopoulos.

RECOMMENDED READ:  Ethereum price edges closer to a new all-time record as Bitcoin solidifies

“It would cause a massive amount of volatility in the space by injecting an enormous amount of liquidity on the supply side of Bitcoin, but it would also once and for all resolve the question… This is characteristic of markets which is, ‘Sell the rumor, buy the fact…’

If something starts happening that is unexpected the market reacts badly, but as soon as that becomes expected, you get the opposite reaction. The markets go, ‘Oh well, I guess Satoshi’s coins moved. Bitcoin didn’t die completely, its price dipped.’ Well, now Bitcoin at whatever price it’s priced in now is a Bitcoin in which Satoshi’s coins have moved and are therefore part of the supply and priced in. Therefore, its future is now certain. That is no longer hanging over it…

Sometimes having the bad news confirmed leads to a rally in the markets because you went from uncertainty to confirmation even though what’s been confirmed is bad news.”

 767 Interactions,  2 today

Augur, Dogecoin, Monero Price Movement Analysis for 24th February 2021

At press time, the famous privacy coin Monero stabilized on the charts and saw a rise above the $230-level at Read more

Synthetix, Tezos, Verge Price Movement Analysis for 24th February 2021

Tezos broke above 0.5 Fibonacci mark, targeting 0.618 and 1-levels at the back of its bullish on-chain metrics. Further down Read more

Chainlink, Cosmos, Enjin Price Movement Analysis for 24th February 2021

In the short term, Chainlink was expected to climb above its overhead resistance, with its indicators blinking green signals. Down Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us

%d bloggers like this: