Will quantum computers kill bitcoin?

In this episode, we sit down with Hunter Beast, a developer focused on making bitcoin quantum resistant. Hunter shares his journey from discovering bitcoin in 2017 to working on a Bitcoin Improvement Proposal (BIP) aimed at securing the protocol against future quantum threats. We explore how quantum computers could compromise elliptic curve cryptography, why P2PK coins are at risk, how address reuse poses risks, and Hunter's proposed pay-to-quantum-resistant hash solution. He explains the challenges of implementing post-quantum cryptography, the trade-offs between security and efficiency, and the timeline for potential quantum threats. Hunter also discusses the importance of community collaboration on upgrades and how bitcoin can prepare for a secure future while maintaining its core values.

SUPPORT THE PODCAST:

→ Subscribe

→ Leave a review

→ Share the show with your friends and family

→ Send us an email [email protected]

→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description

→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description

→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontier

TIMESTAMPS:

00:00:00 - Intro
00:01:02 - Meet Hunter: Bitcoin and quantum focus
00:01:51 - Fixing money: Bitcoin's potential to fix the world
00:03:06 - Real risks vs myths
00:04:41 - Elliptic curve cryptography: Bitcoin’s security backbone
00:06:08 - Why bitcoin matters: Grounding the digital world
00:07:07 - Quantum risks: Shor's algorithm and private keys
00:10:33 - Quantum threat: An existential risk to bitcoin
00:11:44 - Resilience: Lessons from Carrington event
00:12:57 - Quantum resistance
00:14:26 - Hunter’s proposal: Pay-to-quantum-resistant hash
00:17:04 - Public key risks: Old coins, mempool, reuse, taproot
00:20:22 - Quantum solutions: SegWit v3 and new algorithms
00:26:21 - Resistant addresses: Naming conventions and tips
00:31:06 - Securing bitcoin with new cryptography
00:34:06 - Signature challenges: Balancing security and block space
00:37:07 - Future cryptography: Preparing for quantum security
00:43:27 - Trade-offs of quantum-proof cryptography
00:50:00 - Quantum risk timeline: Predictions and unknowns
00:55:27 - Satoshi’s coins: Why not burn vulnerable addresses
01:00:18 - Soft fork challenges: Consensus and activation risks
01:03:10 - Closing thoughts: Hunter’s work and resources

WHERE TO FOLLOW US:

→ Unchained Twitter: https://twitter.com/unchainedcom

→ Unchained LinkedIn: https://www.linkedin.com/company/unchainedcom 

→ Unchained Newsletter: https://unchained.com/newsletter 

→ Joe Burnett’s Twitter: https://twitter.com/IIICapital

→ Hunter Beast’s Twitter: https://x.com/cryptoquick