> Worth spending a little time doing some long tail strategizing I’d say.
Yup, like Bitcoin going to zero.
Yup, like Bitcoin going to zero.
As to faking signatures and, e.g. stealing Satoshi's coins or just fucking up the network with fake transactions that verify, there is some concern and there are some attack vectors that work well if you have a large, fast quantum computer and want to ninja in. Essentially you need something that can crack a 256 bit ECDSA key before a block that includes a recently released public key can be inverted. That's definitely out of the reach of anyone right now, much less persistent threat actors, much less hacker hobbyists.
But it won't always be. The current state of the art plan would be to transition to a quantum-resistant UTXO format, and I would imagine, knowing how Bitcoin has managed itself so far, that will be a well-considered, very safe, multi-year process, and it will happen with plenty of time.
EDIT: it's like rainbow hashes, but every possible variation is a color, not granular like binary, but all and any are included.
More likely that other critical infrastructure failures will happen within trad-finance, much larger vulnerability footprint, and being able to trivially reverse engineer every logged SSL session is likely to be a much more impactful turn of events. I’d venture that there are significant ear-on-the-wire efforts going on right now in anticipation of a reasonable bulk SSL de cloaking solution. Right now we think it doesn’t matter who can see our “secure” traffic. I think that is going to change, retroactively, in a big way.
If the encryption on Bitcoin is broken, say goodbye to the banking system.
You mean digital signatures - and yes, we use signatures everywhere in public key cryptography.
Is that a crime? Lots of forgotten keys in there.
As for the forgotten key case, I think the only way to prove you had the key at some point would need to involve the sender vouching for you and cryptographically proving they were the sender.
Legally, the situation is the same: legal ownership is not in any way tied to the mechanism of how some system or another keeps track of ownership. Your BTC is yours via a contract, not because the BTC network says so. Of course, proving to a judge that someone else stole your BTC may be extremely hard, if not impossible.
Saying "if the protocol permits anyone who can sign a valid transaction involving a given UTXO to another address, then it technically isn't a "crime"" is like saying "traditional banking is governed by a banker checking your identity, so if someone can convince the banker they are you, then it technically isn't a "crime"".
The only thing that wouldn't be considered a crime, in both cases, is the system allowing the transaction to happen. That is, it's not a crime for the bank teller to give your money to someone else if they were legitimately fooled; and it's not a crime for the Bitcoin miners to give your money to someone else if that someone else impersonated your private key. But the person who fooled the bank teller /the miners is definitely committing a crime.