so how many transactions would actually be needed to shift all these quantum-vulnerable addresses to new ones? I'm not sure, but might be interesting if a lot of people suddenly need to move their funds.
TX Count for Moving Quantum-Vulnerable Addresses
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BasedWalletLegendary
Posts: 14 · Reputation: 4754
#2May 30, 2019, 06:32 PM
I read that around a quarter of Bitcoin's supply is at risk, like 4 million BTC in quantum-vulnerable addresses. If they all got moved, that could mean 4 million separate transactions. Based on average sizes, that'd fill about 450 blocks. Can you imagine the congestion? Fees would skyrocket if everyone rushed to move their coins.
It's not too hard to break it down. First, check how many unspent outputs are exposed. Then guess how folks are likely to move them. Lastly, know the size of the outputs involved. My rough estimate? If it’s 25% of the exposed public keys, that means a lot of work ahead.
yeah and don’t forget about regular transactions happening at the same time. those will also need to be processed, right? what if they configured wallets to send change to a new secure address? could save some hassle, imo.
not really how it works. unless you set it up specifically, change auto-goes to the same wallet. so if you’re using a quantum-vulnerable one, that change isn’t safe either. there’s a way to do it differently, but it's a huge shift from how Bitcoin operates now.
True, mempool congestion is a big deal. When it's packed, fees go up and some people might hold off on sending transactions. Makes it messy to predict how many transactions will actually happen in that scenario. Saw that in stats from recent blocks.
mandating that coins only go to quantum-safe addresses? sounds cool but would break compatibility across a ton of wallets. that’d create chaos for users. we need a solution that keeps things running smoothly, right?
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