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6Lun
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@Nobody_123
- Theoretically:
Yes, a powerful quantum computer could "decode" Bitcoin by deriving private keys from public keys (Shor algorithm). However, the impact on mining (SHA-256) is less dramatic (Grover algorithm).

- Practical:
Currently and in the near future, quantum computers are not able to crack Bitcoin, as the technology is not yet advanced enough.

- Long term:
The Bitcoin community will likely take steps to secure Bitcoin against quantum computers before they pose a real threat.

It's all still in the very distant future ⚡️
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6Lun
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@Nobody_123 one of the best measures is to have your bitcoins and cryptocurrencies on your private cold wallet 😉.
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One countermeasure would be to improve the address formats and then send all coins to new addresses.

I think it would be great if lost coins could be put back into circulation. There is no rational advantage, but I find the idea somewhat relieving.
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@Peter69 😅👍🏽
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@Nobody_123 Your assumption is correct. It would theoretically be possible to obtain the keys. However, this becomes more difficult the more up-to-date the address formats are. It is therefore reasonable to assume that the oldest keys/addresses (some of which have been inactive for 10 years) will be cracked first, but everyone else could update or switch to better ones by then.
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@Peter69 But shouldn't that have a negative impact on the price when the "dead" coins are back in circulation? Supply and demand and all that?
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It may well be that such an announcement could trigger a subsequent buying opportunity ;)
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@Cro Cold wallet is useless in this case.
The only thing that would help is switching to a post-quantum secure procedure. But I imagine the migration from the current status to that would be very funny.