El Salvador just moved 6,274 BTC (~$678M) from a single address into 14 new wallets, each capped at 500 BTC, as a safeguard against potential future quantum computing threats.
The idea is that Bitcoin’s elliptic-curve cryptography could theoretically be vulnerable if powerful enough quantum computers emerge. By fragmenting its holdings, El Salvador reduces exposure, if one wallet were compromised, losses would be limited.
Key points:
- Quantum computers aren’t yet capable of breaking Bitcoin’s encryption, but El Salvador is taking no chances.
- Some, like Michael Saylor, call the threat “hype,” saying upgrades could easily secure BTC when/if the time comes.
- Still, this is one of the first sovereign-level moves acknowledging quantum risks to Bitcoin.
Do you think El Salvador is being overly cautious, or is this the kind of forward-looking risk management we’ll see more nations adopt as Bitcoin matures?
Source: Platinum Crypto Academy / on-chain data
Bitcoin Fortress: El Salvador Shields $678M From Quantum Threat
byu/SirBankz inCryptoCurrency
Posted by SirBankz
10 Comments
If it can break one, Bitcoin failed. That’s my opinion.
that is silly. If the encryption is broken, all wallets can be compromised.
If quantum breaks one wallet then bitcoin is dead. Not because everyone is at risk but because it’ll be bank run like never before as everyone and their mother exits.
dumbest post from this week. Splitting wallets doesn’t warrantee quantum safety
It would still take significant time for a quantum computer to recover a single private key, and that is only if the public let had been revealed, and that is assuming the quantum technology develops exponentially. Once these quantum computers become a threat to the current encryption all you need to do is send your Bitcoin to a fresh wallet that’s had never itself broadcasted a transaction, and if you still feel paranoid you could send the Bitcoin to a fresh wallet once a year or whatever time it would take for a quantum computer to be able to crack it. Once quantum computers are truly powerful enough that they can crack a private key in hours, I’m sure we are all so far in there that Bitcoin has indeed upgraded it’s encryption to be quantum proof, or we might already be so close to a post scarcity world that money doesn’t even matter anymore.
It is my understanding if a wallet never makes a transaction, and only receives crypto, then it is quantum resistant already? The reason is that the public key has never been exposed on chain. Does El Salvador “spend” or do stuff with their BTC holding the wallet, or does it just receive BTC?
If quantum actually exists, they could just mine all of the bitcoin. Don’t need to break anything.
Why would anyone think quantum only goes one sided? Quantum security will be as much of a thing as quantum attacks.
They have to be able to steal a little. Just a little.
Quantum threat is such a good tool to dampen the price. The threat is like … what if an asteroid hits earth would earth be OK? It’s just stupid…