Hacker News new | ask | show | jobs
by timbowhite 76 days ago
In Bitcoin's case, public keys are only revealed during a transaction.

And every transaction completely spends the source keypairs' funds.

So the only attack vector a quantum computer could use is:

1. Observing newly broadcast/unconfirmed transactions

2. Deriving the private key(s) from the public key(s)

3. Creating and broadcasting its own transaction using the stolen keypairs before the original transaction confirms (presumably with a higher fee to win the confirmation race).

Please correct me if I'm wrong.

EDIT: correction: every transaction completely spends any selected UTXO of an associated keypair, not all of the "source keypairs' funds". Thus the attack vector also includes being able to steal from any keypair that has ever made a transaction and also has UTXOs.

2 comments

The newest transaction mechanism (taproot; P2TR) exposes the public key of the receiver as part of the transaction. If it becomes more commonly used, the supply of bitcoins with exposed public keys would start going up again. See figure 5 of https://arxiv.org/pdf/2603.28846#page=14 .
So everything basically.