Bitcoin Developers Propose Freezing Quantum-Vulnerable Coins to Defend Network

Bitcoin developers proposed BIP-361 to migrate coins from quantum-vulnerable addresses or freeze them.

“Bitcoin developers are trying to build quantum defenses”

@coindesk

The proposal comes after a Google report warned quantum computers could compromise Bitcoin sooner than expected.

@coindesk

BIP-361 phases out legacy ECDSA and Schnorr signatures in three phases over several years.

The proposal has sparked backlash as freezing coins cuts against Bitcoin's core promise of sovereign control.

One X user called it highly authoritarian and confiscatory.

Every Bitcoin wallet is secured by ECDSA using a private and public key.

The public key is revealed on the blockchain when you send funds.

CoinDesk

Approximately 6.7 million BTC were in vulnerable addresses as of March.

The main danger is targeted theft of coins with exposed public keys.

Google’s Willow demonstration showed progress in error correction.

The idea of freezing coins cuts against Bitcoin’s fundamental promise.

“A new technical report argues that Bitcoin does not face an existential threat from quantum computing in its consensus or its monetary policy, but it does face a real risk of targeted theft of coins with exposed public keys”

DiarioBitcoin

The community is not happy, with one user calling it highly authoritarian.

Rahman Textile produced clothing for European fashion brands including Hessen and BrandBox.

Both companies said they were deeply saddened and would review their operations.

The Dhaka Tribune reported Rahman was being questioned about welded shut emergency exits.

The proposal would leave holders owning coins but unable to move them.

Phase C offers a potential rescue using zero-knowledge proofs.

@coindesk

The Google report compressed resource estimates over time.

The debate pits defensive needs against permissionless control.

CoinDesk summarized it as a defensive measure.