A highly revered crypto strategist, Andreas Antonopoulos, recently disclosed via a Youtube interview that Satoshi Nakamoto’s massive Bitcoin trove would be an easy target for advanced computers (quantum computers).
The crypto expert warned crypto investors about the importance of tracking Nakamoto’s BTC fortune, on the bias that if the dormant bitcoins start moving, it is likely not the doing of the anonymous Bitcoin creator.
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“Therefore, a quantum computer, its first target, its juiciest target, it’s easiest to attack target is the Satoshi stash. How do we know if a quantum computer exists that can break ECDSA (elliptic curve digital algorithm). Simple, Satoshi’s coins start moving, and in fact at some point after a decade or so it might actually be the more likely explanation.
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“So you see the coins moving and you’re like ‘Did Satoshi come back from the dead?’ or ‘Did a quantum computer emerge that can break [ECDSA keys]?’ As the years go by, I start leaning more towards, ‘Okay, it appears a quantum computer has emerged that can do this,’ but I think we’re still a decade away from that,” Antonopoulos said.
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Who is Satoshi Nakamoto?
BTCs were created in 2008 by an unidentified individual or group using the name Satoshi Nakamoto. The source code was released as an open-source code, and the digital coin (BTC) is created as a reward for a process known as mining.
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However, the movement of Satoshi Nakamoto’s Bitcoin Fortune wouldn’t lead to the downfall of the flagship cryptocurrency, says Antonopoulos.
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“It would cause a massive amount of volatility in the space by injecting an enormous amount of liquidity on the supply side of Bitcoin, but it would also once and for all resolve the question… This is characteristic of markets which are, ‘Sell the rumor, buy the fact…’
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“If something starts happening that is unexpected, the market reacts badly, but as soon as that becomes expected, you get the opposite reaction. The markets go, ‘Oh well, I guess Satoshi’s coins moved. Bitcoin didn’t die completely, its price dipped.’ Well, now Bitcoin at whatever price it’s priced in now is a Bitcoin in which Satoshi’s coins have moved and are therefore part of the supply and priced in. Therefore, its future is now certain. That is no longer hanging over it…”
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At the time of writing, Bitcoin traded at $23,737.83 with a daily trading volume of $44.9 billion. Bitcoin is up 4.35% in the last 24 hours.
If this happens does it signifies the end of bitcoin