El Salvador moved their bitcoins

[Patikno]

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.

Well, I think what people are afraid of regarding a possible quantum threat is the fast processing speed that allows for a series of hacking attempts on a wallet whose address is already publicly known, while newly created ones are still difficult to find, and this seems similar to a brute-force attack, CMIIW.

So, I think what El Salvador is doing is a good thing to avoid this threat. By the way, I don't think there are any signs of the Quantum Threat in the near future, and perhaps if it does exist, then there is a possibility that certain banking or business networks will be very easily hacked by Quantum Computers, and this could be a sign that its existence has begun to appear. Apart from that, I also feel that the Quantum Threat will try to target Bitcoin wallets that have a lot of coins and have not had any activity for a long time, so maybe this could also be a sign, if that happens, then I think the Quantum Threat will be considered real. Well, this is all just my personal assumption which may have the potential to be wrong.

[Faisal2202]

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.

You confused me here with a decimal in the number. It is not 6.274 it is 6,274. Please correct it, really, I almost wrote a some lines before checking the link that they really are that insecure that they moved their 6.274 BTC to 14 different wallets haha, I mean op you must take care of such typing mistakes.

Or that's how you wrote, never mind. The amount is too big and now I think it is the best way to deal with this but how will those wallets be safe like from QC, although I have heard some news that the risk is now greater than before? If this is really concerning and a country is moving, then we might see some QC resistance wallets in the future and I want them to start their journey from BTT hehe.

[uchegod-21]

Would it really be possible? I imagine it's still going to be far from over. A lot of things can be taken care of when it comes to quantum computing but it's in the progress still. What I'm concerned is how fast itr will be with the tools that we have now like AI.

Are there any technical details with how El Salvador is setting up their wallets? Maybe a lot of countries could follow suit.

With the little I have read about quantum computers and how it might pose a risk to Bitcoin, I am made to understand that only public keys that have been exposed are at risk of getting attacked with the help of the quantum computer.

Maybe El Salvador is only trying to stay safe. They must have understood this, hence the need to transfer their bitcoins to wallet addresses that have never been used before.

I like the fact that they are being security conscious, they will not be taken unawares, if anything like such should happen in the future, they won't be losing everything at once.

[Odohu]

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.

Being active in this forum and reading about different ways people have lost their Bitcoin to attackers have adequate me to realize that keeping all Bitcoin in one wallet is suicidal. I will never recommend that to anyone and I have integrated the habit of spreading my assets into different wallets as a security measures since I don't want ally effort to be stolen in one day. Everyday we have been seeing new formats of attacks,  who knows what will happen in the future, hence the best way is to take precautions to mitigate whatever loss that may try to occur in the future.

[Ambatman]

This is nonsense in my opinion. Why give a filmsy excuse that they are protecting from quantum threat
Which isn't even a thing yet
They are making it seem like they plan to sell some Imo.
I would understand if they are trying to prevent all their oranges being in one basket
Quantum first threat is on reused addresses/addresses with known Pubkeys.

This is just pushing unnecessary FUD.

[promise444c5]

Are there any technical details with how El Salvador is setting up their wallets? Maybe a lot of countries could follow suit.

For that amount of Bitcoin, what else could you think of besides cold storage? Here’s your answer anyway: https://x.com/nayibbukele/status/1768425845163503738?s=46. An extra layer of security is multisig, which you should have noticed earlier from the image LDL shared. That’s the right setup because it’s not a single individual who owns the Bitcoin, it’s a whole country. I believe this is the standard way every country should arrange cold storage, with the signers and their key access kept secret.

[348Judah]

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.

I don't seem to go against the decision and action taken by El-Salvador, because they have the better idea of strategizing for a diversification on their storage assets, such that the entire holding capacity of their bitcoin could not all be in a single wallet, but when spread out in case of any attack, they cant be rendered more vulnerable for attack, while i sincerely doubt if the deliberate action on this was to prevent possible future attack from quantum, advisably, we should always expect that we make use of more than one wallet to safely secure our assets in case of future threat or attack.

[MinoRaiola]

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.

There can be been changes within the government team. The person behind Bitcoin and El Salvador maybe have mire personnel changes, and these have included important person who even knew the private keys. So this security act could be also an important move for the hole organization. People are predictable, and everyone has his price. For someone its money, for other loyalty.

[Fiatless]

This is nonsense in my opinion. Why give a filmsy excuse that they are protecting from quantum threat
Which isn't even a thing yet
They are making it seem like they plan to sell some Imo.
I would understand if they are trying to prevent all their oranges being in one basket
Quantum first threat is on reused addresses/addresses with known Pubkeys.

This is just pushing unnecessary FUD.

Since El Salvador had a deal with the IMF, I have begun to have some level of doubt regarding the management of their Bitcoin. There were speculations recently that the claim that they are buying Bitcoin daily is false. I also do not doubt that this coin separation into different wallets is to sell some amount. However, the movement might also be for safety if they were all sent to wallets with maximum security.

[Oshosondy]

Even without quantum computing threat, I do not like to hold my coins on a single wallet. I have at least 3 different bitcoin wallets because I think it is better than having just only one.

It is not. Three averagely secured wallets is worse than one with maximum security.

Maybe you will come and teach me. How did you know that my wallets are not secure? Stop quoting someone like me unnecessarily because your post is not at all useful for me. You did not even talk about how to maximize security but you just want to post. I can as well say that someone can have a single wallet and which is not secure.

I don't need to know anything about you, learn how to think about subjects instead of responding with emotion. You said you think it is better having 3 wallets than having just only one. What you wrote is categorically false. I showed an example where it is false. Move on and shitpost somewhere else if your brain capacity is limited. You're better off farming in WO.  

I do not agree with your stupid correction because you are not correcting me which makes you quoting me to be flawed and you think you know it all. I know about hardware wallet, multisig wallets and wallets on airgapped devices but this thread is not about them. You are not the one that can tell me all these. Even if I want to make my wallet more secure with 2-of-2 or 2-of-3 multisig using one seed phrase from a cold wallet or maybe a hardware wallet, I know all about it.

I have posted before that I know about protecting my wallet and yet I prefer to have at least 3 wallets instead of one. And I still have two other wallets which are the less secure but with little money but frequently transactions. You do not need to quote me is what I have posted before because it is not necessary.

Even Bybit thought they can not be stupid when they were hacked. Despite how secure the wallet is, it is the highest exchange hack in history.

I secure my wallets but I have 3 while 2 for frequent transactions. Having 3 wallets does not mean the wallet is not secure than someone with no brain who does not secure just a single wallet that he has. I have posted already that your post is not useful for me, even the quantum computer part. I know everything and how to protect my self from quantum computers. You only think you are the best and just want to quote everyone but do not correct me unnecessarily in a way that is not needed. Your post where you quoted me is highly unnecessary. Do not do it next time unless it is necessary.

About the emotional part, how did you know that I am emotional? Your posted added nothing to me and removed nothing from me. So what should I be emotional about your post? You are only being childish for saying that. Again let me correct you, do not post what you do not know about someone. You are a type of person that likes jumping into conclusion. You have done it two times to me now.

[Satofan44]

This off topic junk is not related to this topic, go spam somewhere else where your stupidity and insecure wallets are more welcome.  

Since El Salvador had a deal with the IMF, I have begun to have some level of doubt regarding the management of their Bitcoin. There were speculations recently that the claim that they are buying Bitcoin daily is false.

You'd be absolutely mistaken. The speculations are just baseless rumors that are started by groups that want to divide and conquer you. Nobody with a rational brain would do something like that without having at least some form of evidence. No evidence of the like has been provided by anyone.

I also do not doubt that this coin separation into different wallets is to sell some amount.

No, they are not selling. Why would they? The amount that they own is tiny, and they can forego selling BTC forever.

[Fiatless]

Since El Salvador had a deal with the IMF, I have begun to have some level of doubt regarding the management of their Bitcoin. There were speculations recently that the claim that they are buying Bitcoin daily is false.

You'd be absolutely mistaken. The speculations are just baseless rumors that are started by groups that want to divide and conquer you. Nobody with a rational brain would do something like that without having at least some form of evidence. No evidence of the like has been provided by anyone.

I also do not doubt that this coin separation into different wallets is to sell some amount.

No, they are not selling. Why would they? The amount that they own is tiny, and they can forego selling BTC forever.

I had to go through the International Monetary Fund (IMF) report on El Salvador's fund facility and found this:

Most end-March targets, on the primary balance, external and financial buffers, were met with margins, and the overall stock of Bitcoin held by the public sector has remained unchanged since program approval

El Salvador and the IMF signed this new deal in December 2024. The report states clearly that they have not bought any Bitcoin since January. I was expecting  Salvador’s Bitcoin Office and the National Commission of Digital Assets to dispute this report but they were silent.

[coupable]

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.

Even though i don't think quantum computing is a real concern nowadays, but i still think it's wiser to split the bitcoin holding into multiple addresses for various good reasons. One of them is protecting privacy and reduce tracability.
Quantum computing is so early to talk about or to take security measures against. One day in the future, when this technology will become accessible to manipulate the blockchain, bitcoin or all other blockchain based cryptocurrencies will lose value fast than anyone may expect.

[mr.mister]

I have one main wallet, but I used a truly random method to generate my mnemonic phrase, using dice rolls, verified by a python script to be correct. Furthermore, I have added an additional bip39 passphrase which is kept in a separate location, and it's all secured by an antiphishing hardware wallet. This is where my main coin are, then I also have another wallet with less coins.


A quantum computer with at least 1 million qbits is necessary to have a chance at cracking bitcoin addresses, and we are far, far away from being able to achieve that. I am not concerned at all by quantum threats.

[Satofan44]

I had to go through the International Monetary Fund (IMF) report on El Salvador's fund facility and found this:

Most end-March targets, on the primary balance, external and financial buffers, were met with margins, and the overall stock of Bitcoin held by the public sector has remained unchanged since program approval

El Salvador and the IMF signed this new deal in December 2024. The report states clearly that they have not bought any Bitcoin since January. I was expecting  Salvador’s Bitcoin Office and the National Commission of Digital Assets to dispute this report but they were silent.

If they publicly dispute it, it could cause them problems. It is better to silently continue doing what you are doing. Even if it were true, all it shows that they had more BTC than was expected by the public. In any case eventually the counter must reach the real number after which they would have to stop counting or buy more BTC.

I have one main wallet, but I used a truly random method to generate my mnemonic phrase, using dice rolls, verified by a python script to be correct. Furthermore, I have added an additional bip39 passphrase which is kept in a separate location, and it's all secured by an antiphishing hardware wallet. This is where my main coin are, then I also have another wallet with less coins.

Sounds good, much better than the multi wallet methods by wannabe experts. 

[KingsDen]

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

[/URL]

What figure is this?
Do you mean 6.274 BTC or 6,274 BTC?

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.

Keeping your BTC in different wallets as an individual pose more risks to your coins that you have to safe keep different keys and more. I understand the reason El Salvador is doing theirs.

[Franctoshi]

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.

Yes, but this isn't a lasting solution about this threat of sharing Bitcoin in several wallets, This quantum computer has become a growing concern over the future of Bitcoin, and I doubt if this will solve the threat that Quantum computer pose on Bitcoin's future. But it will be better for developers to work on a technology that will be quantum resistance.

[Oshosondy]

This off topic junk is not related to this topic, go spam somewhere else where your stupidity and insecure wallets are more welcome. 

You should not have began by quoting me with your off-topic post. You caused it with your spam quote. You also do not necessarily have to quote me.

I have one main wallet, but I used a truly random method to generate my mnemonic phrase, using dice rolls, verified by a python script to be correct. Furthermore, I have added an additional bip39 passphrase which is kept in a separate location, and it's all secured by an antiphishing hardware wallet. This is where my main coin are, then I also have another wallet with less coins.

Sounds good, much better than the multi wallet methods by wannabe experts. 

Do not listen to the rubbish this guy is posting. You can more than one wallet if you have the brain to keep them safe. I have 3 wallets. If I can keep one wallet safe, that means I will be able to keep three wallets safe which makes him quoting me to be unnecessary. I am also using passphrase with all my wallets. Not using passphrase makes me not comfortable with my offline backup. In fact all the 3 wallets have only a single seed phrase but with 30 characters passphrases. @Satofan44, you can come and hack it and see your effort wasted.

@Satofan44, you are the wannabe expert here 

[mr.mister]

This off topic junk is not related to this topic, go spam somewhere else where your stupidity and insecure wallets are more welcome. 

You should not have began by quoting me with your off-topic post. You caused it with your spam quote. You also do not necessarily have to quote me.

I have one main wallet, but I used a truly random method to generate my mnemonic phrase, using dice rolls, verified by a python script to be correct. Furthermore, I have added an additional bip39 passphrase which is kept in a separate location, and it's all secured by an antiphishing hardware wallet. This is where my main coin are, then I also have another wallet with less coins.

Sounds good, much better than the multi wallet methods by wannabe experts. 

Do not listen to the rubbish this guy is posting. You can more than one wallet if you have the brain to keep them safe. I have 3 wallets. If I can keep one wallet safe, that means I will be able to keep three wallets safe which makes him quoting me to be unnecessary. I am also using passphrase with all my wallets. Not using passphrase makes me not comfortable with my offline backup. In fact all the 3 wallets have only a single seed phrase but with 30 characters passphrases. @Satofan44, you can come and hack it and see your effort wasted.

@Satofan44, you are the wannabe expert here 

Honestly, the method I am using, I believe is secure enough for my main funds, I don't believe the need to be separated into more than one wallet with my method that I described above. The only reason I have a secondary wallet is to isolate main funds from spending wallet.

It's not necessary to have more than one secure wallet, but nothing stops you from doing so. If you are able and willing to manage that, then fine, but certainly not necessary.

[FinneysTrueVision]

What figure is this?
Do you mean 6.274 BTC or 6,274 BTC?

It is not 6.274 it is 6,274.

Some countries use decimals and commas for separating numbers the opposite way of what you might be used to. If they are really buying 1 BTC per day then it would obviously be 6 thousand 274 bitcoins.