The mysterious creator of Bitcoin, Satoshi Nakamoto, has not been seen or heard from in over a decade and has now turned 51. Now, the focus is not on his return, but on the rising risk from quantum computers.
And the 1.1 million BTC he left behind, worth nearly $76 billion, may now be at risk. Experts say most Bitcoin holders are safe for now, but Satoshi’s untouched 1.1M BTC is not; here’s why.
Quantum computers could break Bitcoin’s current security in just nine minutes, while Bitcoin’s average block time is ten minutes. But this mainly matters when a user sends a transaction. Once a public key is visible, a strong quantum computer could try to find the private key quickly.
However, developers have a solution ready. A new quantum-safe system can be added to Bitcoin so that old addresses can move coins without exposing their keys.
Using methods like zero-knowledge proofs, ownership is proven without revealing the public key. Proposals like BIP 360 would create a new address type, removing the public key from the blockchain and protecting new coins from quantum attacks.
That’s why most Bitcoin is safe, except for Satoshi’s untouched coins.
Satoshi’s Bitcoin has never been moved in over 15 years, and that is the main problem. The “zero-knowledge migration” fix only works if a wallet makes a transaction, but Satoshi’s wallet hasn’t moved and likely never will.
There is no way to protect coins in a wallet that stays inactive, and no one knows if Satoshi is alive, gone, or just waiting.
Today, his coins are worth about $76 billion, making him stand in the top 25 of the world’s billionaires list.
Some users point to the first-ever Bitcoin transaction, when Satoshi sent 10 BTC to Hal Finney in January 2009. If Satoshi moved coins once, why can’t the remaining BTC be secured?
The reason is simple, is that the 10 BTC came from one address, and the rest of the 1.1M BTC is spread across thousands of addresses. Each address has its own private key. Thus, moving one doesn’t give access to the others.
That’s why most of Satoshi’s Bitcoin remains locked and can’t be moved or updated without the owner’s action.
The community now faces two Options.
This would prevent a future quantum attacker from claiming them. This would take his coins without permission, showing that anyone’s Bitcoin could be controlled if enough people agree.
“Your keys, your coins” would no longer be fully true.
If quantum computers become powerful enough, whoever derives the private key could claim roughly $70 billion worth of BTC.
Both options break Bitcoin’s core promise.
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