Jameson Lopp suggested to burn quantum-vulnerable bitcoins

CASA co -founder Jameson Lop opposed the restoration of lost bitcoins with quantum computing and suggested burning them.

In my Latest Essay and Weight in On the Controversial Issue of How to Deal with quantum vulnerable bitcoin in a post-quantum Future.

After Great Consideration, I Think It’s Best if We Burn Quantum Vulnerable Coins.https: //t.co/e76irzv5qa

– Jameson Lopp (@lopp) March 16, 2025

With the advent of quantum computers capable of breaking old formats of the first cryptocurrency, such as P2PK, the ability to access lost coins will open. It is not only about Satoshi Nakamoto ~ 1 million BTC, but also, for example, 7500 BTC on James Gowells, ejected by British James Gowels.

According to some estimates, the volume of the first cryptocurrency to which access is lost, reaches 35% of the issue.

A number of experts do not see the problem of returning coins to circulation with quantum calculations, comparing it with mining. However, the BPP believes that the restoration of access to lost assets is contrary to such fundamental principles of digital gold as censorship resistance, transaction’s invariability and conservatism.

“Allow the quantum restoration of bitcoins is tantamount to the redistribution of wealth. We would allow you to move cryptocurrency from those who do not know about quantum computers to those who won technological race, ”he said.

The LoPP also noted that there are many existing addresses with significant amounts on the balance sheet.

Source: Blog Loppa.

In his opinion, it is necessary to give everyone the opportunity to transfer funds to quantum-resistant addresses, and after the end of the set time to freeze all assets that are at risk of hacking.

LopPs gave Satoshi Nakamoto that lost bitcoins increase the value of other coins. In this way, the restored assets will dilute the cost of bitcoin, he emphasized.

“Personally, I am not interested in rewarding entities capable of working with quantum technologies by blowing up money in circulation only because some people have lost their keys for a long time and others do not increase the safety level of their bitcoin stores. We can hope that this scenario will never come true, but hope is not a strategy, ”the lop summed up.

Recall that in October 2024, Chinese scientists made the “first effective attack in the world” on a widely used algorithm of encryption using a quantum computer.

Experts later stated that the mentioned threat of cryptocurrencies was exaggerated.

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