Assessing the Quantum Threat to Bitcoin w/ Shinobi

Bitcoin Magazine

Assessing the Quantum Threat to Bitcoin w/ Shinobi

The quantum threat to Bitcoin is no longer purely theoretical, so what would an actual attack look like on chain? Bitcoin Magazine technical editor Shinobi says you likely wouldn’t get much warning, just movement people slowly realize is illegitimate, either a fast grab at major exchanges and the ETFs or a quiet drain of Satoshi-era coins moved in chunks. In this conversation with Grace Remington and Sean Hagan, he breaks down the real exposure numbers and why an attacker’s motivation determines everything about how it plays out.

Chapters:
00:00 — What a Quantum Attack on Bitcoin Would Look Like On Chain
01:19 — Whether an Attacker Wants Profit or Wants to Cause Damage
01:52 — How Many Coins Are Vulnerable and How Fast They Could Move
03:07 — Why Exchanges Would Be Negligent Not to Migrate Immediately
03:57 — The Assumption That Dormant Coins Are Lost Coins
05:00 — Migration, Satoshi’s Coins, and the Coins That Won’t Move
06:35 — Post-Quantum Signature Work and Taproot Optionality
07:58 — Three Things That Put You in Control of Your Exposure
09:25 — Why Consensus Changes Wait for Audits
10:11 — Inside Bitcoin Magazine’s Quantum Issue and Its Contributors

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

This post Assessing the Quantum Threat to Bitcoin w/ Shinobi first appeared on Bitcoin Magazine and is written by Patrick Green.