El Salvador moved their bitcoins

[Solokan]

I think what El Salvador is doing is a good thing. It's true that it would be better for us to have more than one wallet, as it would protect us from future quantum attacks. The large amount of BTC El Salvador holds would certainly make it better. I admire El Salvador for having so much BTC and they are truly great.

I think your topic is excellent. It's certainly beneficial for those who own a lot of BTC, as we can do the same thing El Salvador is doing. We do need to be vigilant, as technology is increasingly sophisticated, and there are many people who want to profit through devious means. BTC is a valuable asset, so we must protect our assets to prevent anyone from stealing it.

[pancelot]

I think what El Salvador is doing is a good thing. It's true that it would be better for us to have more than one wallet, as it would protect us from future quantum attacks. The large amount of BTC El Salvador holds would certainly make it better. I admire El Salvador for having so much BTC and they are truly great.

I think your topic is excellent. It's certainly beneficial for those who own a lot of BTC, as we can do the same thing El Salvador is doing. We do need to be vigilant, as technology is increasingly sophisticated, and there are many people who want to profit through devious means. BTC is a valuable asset, so we must protect our assets to prevent anyone from stealing it.

I agree with @Solokan. El Salvador's move to split BTC into multiple wallets is a smart action in an effort to gear up for potential future technological threats, like quantum attacks. In my view, asset segregation actually makes it more secure because there is no concentrated point of failure. This is a good lead for other BTC owners. Moreover, this move also demonstrates a commitment to keeping Bitcoin as a solid long-term asset. I wholeheartedly approve of such attempts as they are in the lines of security and trust towards Bitcoin's future.

[Antotena]

I think what El Salvador is doing is a good thing. It's true that it would be better for us to have more than one wallet, as it would protect us from future quantum attacks. The large amount of BTC El Salvador holds would certainly make it better. I admire El Salvador for having so much BTC and they are truly great.

I think your topic is excellent. It's certainly beneficial for those who own a lot of BTC, as we can do the same thing El Salvador is doing. We do need to be vigilant, as technology is increasingly sophisticated, and there are many people who want to profit through devious means. BTC is a valuable asset, so we must protect our assets to prevent anyone from stealing it.

If El Salvador has spent Bitcoin from any of that wallet, then I expect their public keys must have been exposed, the Quantum computers are explained to attack the public keys, it's safe to say moving their coins to another wallet is a safe practice since the new wallet address doesn't have public key expose but what I don't understand is the fact they sent the coins to different wallet address when it's traceable and where the coins came unless they plan to spend from the wallet each at once.

I want to see this Quantum computer get humbled, some proposals about using Quantum computers to create their own antidote so they can become impossible to break. Maybe after that, it will take another 100 or more years to see another kind of computer that can break the encryption made by Quantum. Bitcoin will be safe and other things that used encryption is going to be safer too, the FUD will die off and we are going to move to important things.

[Kalcoin]

El Salvador has shown the world that they are moving toward a digital currency. All citizens have Bitcoin and are familiar with it, and it is very easy to buy through Bitcoin machines, for example, to recharge. The Chivo Wallet is one of the major wallets used in El Salvador.

[Sonia_123]

El Salvador moved their 6.274 bitcoins into 14 different wallets in order to prepare for a possible quantum threat in the future.

They believe that through this, they are reducing the risks of losing all their bitcoin should quantum threats be real in the future and their holdings get attacked. That is the only reason why El Salvador is moving their bitcoins and I believe this should be something we can all learn from El Salvador. Distributing your bitcoins in more than one wallets will save you in the future and El Salvador knows this.

El salvador might not really be separating their bitcoin into various wallet because of quantum attack, what if they are separating it is from fraudsters, hackers or other malwares, because if quantum attack is attacking, it will be attacking all public keys, forging digital signatures, come to agreement of Blockchain security and weaken various secured communication in other to be successful in their actions, but I think before that time there will be a perfect solution for that.

Keeping your coins in various wallet is also not a bad idea so that if one account is being attacked by fraudster, the other ones can secure and give you hope for the future not losing everything once and start investing from the beginning like a no coiner.

Therefore if you can perfectly protect your seed phrases without losing or forgetting it then you are safe to have as much as you want, it all boils down to proper security measures of handling our wallets.

[HODLstack]

This is why I have been pursuing physical bitcoin wallets. I love the aspect of having BTC at disposal and it is split betweeen many wallets. It will make trading with it so much easier. You hold the value of the coin/wallet itself if it is on a precious metal, plus the value of the sats it holds.

[Hispo]

But distributing those coins in different wallets does not give any new layer of security against quantum computing though... It helps against hacking and some security flaws, but quantum computing would still be able to take the coins off those addresses of the attacker wanted to.

Though, I must say I am not an expert on Bitcoin or cryptography, so perhaps there is something I am missing here?
As long as the Bitcoin developing team does not release some actual upgrades for the network then we all are possible victims of a quantum attack in the future.

[arabspaceship123]

Developers said in future they will make changes to Bitcoin to save it from quantum computing attacks. If developers do not change Bitcoin to stop quantum computing hacks one day hackers will break the encryption. It is like whales splitting their Bitcoin between more wallets. Investors move BTC to different wallets when they want. Why is it a problem if El Salvador did it. Did El Salvador move the funds because of quantum computing.

[Cookdata]

But distributing those coins in different wallets does not give any new layer of security against quantum computing though... It helps against hacking and some security flaws, but quantum computing would still be able to take the coins off those addresses of the attacker wanted to.

Though, I must say I am not an expert on Bitcoin or cryptography, so perhaps there is something I am missing here?
As long as the Bitcoin developing team does not release some actual upgrades for the network then we all are possible victims of a quantum attack in the future.

The only thing I can draw from this point is the team is protecting the wallet address pubkeys. Bitcoin has been spent on those wallet for long time and since Quantum computers are made to believe they are attack going the pubkey. So changing the address by moving the coin to a different wallet address looks safe but they may want to spend from that wallet and don't want to reval the pubkeys. The alternate is sending the coin to different wallet and that's what they have done in other to spend the coins at once without reusing of the wallet address.

I don't blame though, they are in for long time, it wouldn't be funny to see billions invested wash away because of Quantum Computer, there hasn't been any update regarding quantum but it's better we are preparation. If there is another way or recommendations to protect against any future threat so we don't become their victims. This alone is a sign of commitment that El Salvador are going to hold Bitcoin for long time, they are going to hold until they have nothing to hold again.

[Dunamisx]

Developers said in future they will make changes to Bitcoin to save it from quantum computing attacks. If developers do not change Bitcoin to stop quantum computing hacks one day hackers will break the encryption. It is like whales splitting their Bitcoin between more wallets. Investors move BTC to different wallets when they want. Why is it a problem if El Salvador did it. Did El Salvador move the funds because of quantum computing.

I think that wasn't the actual reason behind their actions, because on a normal basis, they can't use an exchange to buy or invest on a coin then let the coins remains under centralized exchange, maybe this could be a reason or any other decisions taken by them to move their assets, quantum is not a threat to bitcoin network.

[Orpichukwu]

This is why I have been pursuing physical bitcoin wallets. I love the aspect of having BTC at disposal and it is split betweeen many wallets. It will make trading with it so much easier. You hold the value of the coin/wallet itself if it is on a precious metal, plus the value of the sats it holds.

Do you mean to say that trading is very easy in terms of knowing how much each wallet holds, or are you categorising it under custody service? In terms of trading, anyhow, the coins are held; they can easily be moved and traded, but the security aspect of it is the top priority, and a large sum should be held differently to reduce the danger of losing it all at once in case of any incident.

[arabspaceship123]

It should not be surprising if whales move their Bitcoin between wallets. If countries move their Bitcoin reserves to wallets it is because they want to spread out the funds. It does not mean they are planning for quantum hacks.

[Danica22]

I think that wasn't the actual reason behind their actions, because on a normal basis, they can't use an exchange to buy or invest on a coin then let the coins remains under centralized exchange, maybe this could be a reason or any other decisions taken by them to move their assets, quantum is not a threat to bitcoin network.

I agree, I also think the quantum threat is just an excuse and maybe they have other intentions when move their bitcoins. Because as we all know, the threat from quantum computers to bitcoin is just a rumor and there is no real threat, so far. So preparing for that right now is really unnecessary and the reason is not very convincing either.

The only problem El Salvador is facing is the IMF, and I think it's more likely that they're doing this because of the IMF.