Bitcoiners propose freezing quantum-vulnerable coins in BIP-361

The authors described it as a “private incentive to upgrade” because lost or frozen coins will make everyone else’s coins worth slightly more.

Cypherpunk Jameson Lopp and five co-authors from the Bitcoin quantum security space have proposed freezing quantum-vulnerable coins on the Bitcoin network, including Satoshi’s $74 billion stash, to prevent them from being stolen once quantum computers become available.

The move is the second part of a three-stage proposal under BIP-361 called the “Post Quantum Migration and Legacy Signature Sunset,” which was posted as a draft to GitHub on Tuesday.

It addresses a major risk to Bitcoin — the potential use of quantum computers to steal roughly 1.7 million BTC locked in early P2PK addresses, including Satoshi’s stash, which are not quantum-proof. 

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