NEWSLETTER
Jameson LOPP, the Security Director of the bitcoin Custody Company (btc) Casa, recently argued against allowing the quantum recovery of btc lost and said that burn these currencies to protect the integrity of the protocol was the preferable option.
According to LOPP, allow people or institutions with quantum computers to recover lost coins violates the properties of the bitcoin network of censorship resistance, immutability of transaction and conservatism.
On March 16 <a target="_blank" data-ct-non-breakable="null" href="https://blog.lopp.net/against-quantum-recovery-of-bitcoin/” rel=”null” target=”null” text=”null” title=”null”>articleThe encryption executive wrote that allowing quantum recovery is not good for anyone. LOPP added:
“Allowing the quantum recovery of bitcoin is equivalent to the redistribution of wealth. What we would allow is that bitcoin be redistributed of those who ignore quantum computers to those who have won the technological career to acquire quantum computers.”
“It is difficult to see a positive side in that scenario,” the executive continued before concluding that quantum recovery can only damage the security of the bitcoin network.
The threat that bitcoin's quantum computers continues to be heated, and some argue that the threat to modern encryption is decades away, others argue that quantum computers will never be practical, and some warn that the threat is imminent.
Jameson LOPP analyzes the risks raised by quantum computers at the Future of bitcoin Conference in 2024. Source: Future of bitcoin Conference
Related: crypto, Quantum Computing on Collision Course while Microsoft debuts a new chip
The great quantum scare of 2024
In October 2024, researchers from the University of Shanghai said they broke the encryption standards used in military and bank applications using a quantum computer.
However, YouTuber “Mental Outlaw” then said that these statements were exaggerated and that the researchers did not break the modern encryption standards.
The YouTuber said that the quantum computer used by the research team could only factor the integer 2,269,753, which established a new record for quantum computers, but it was still behind some classic computers.
Mental Outlaw added that the device used in the experiment could only break a 22 -bit key, while the record established by a classic computer was breaking an 892 -bit key.
Modern encryption key sizes can vary between 2048 and 4096 bits, with the option of extending key sizes in the future to make them even safer.
Magazine: bitcoin vs. The quantum computer threat: timeline and solutions (2025–2035)
