Bitcoin (BTC) Important Signal: Developers Propose to "Freeze" 1 Million Satoshi Nakamoto Tokens to Address Quantum Computer Crisis

Quantum computing is no longer a distant legend in laboratories. As experts warn, the Shor algorithm may potentially reverse-engineer private keys on sufficiently scaled quantum computers in the future, posing potential cracks in Bitcoin's encryption moat. This potential threat not only challenges the security of Bitcoin but could also affect the millions of Bitcoins held by Satoshi Nakamoto in the early days. In response, Casa's CTO Jameson Lopp and five developers submitted a new Bitcoin Improvement Proposal (BIP) this week in San Francisco, aiming to upgrade address security to the post-quantum era to address this imminent crisis.

Quantum Shadows Approaching, Bitcoin Security Red Light Lit Up

The elliptic curve cryptography (ECDSA) that Bitcoin relies on could be cracked by quantum computing, not only affecting wallets but also potentially triggering a chain sell-off in the market. Deloitte's research indicates that about a quarter of Bitcoins are particularly vulnerable due to exposed public keys; if quantum attacks materialize within the next decade, millions of Bitcoins, including those held by Satoshi Nakamoto in the early days, could be compromised, leading to unimaginable market fluctuations. This potential threat poses an unprecedented challenge to the security of Bitcoin.

Lopp Proposal: Exchange "Loss" Threat for "Upgrade" Motivation

Casa CTO Lopp and the developers' new proposal adopts a three-phase design aimed at forcing users to actively migrate and avoid procrastination:

Step 1: Block the flow of funds into quantum vulnerable addresses.

Step 2: Reserve the old coins that have not been moved yet for freezing five years later.

Step 3: Provide a selective mechanism to unlock frozen assets using quantum secure signatures.

The proposal aims to prompt users to actively migrate with a clear timeline, avoiding delays. Community opinions are not limited to this one path. Anduro protocol engineer Hunter Beast has previously proposed BIP 360, planning for multiple security levels of post-quantum addresses to balance flexibility and efficiency. Different solutions have their trade-offs in algorithm selection, key length, and transaction volume.

Real-World Testing: Consensus, Technology, and Cost

However, we know that before any BIP takes effect, it must undergo a long period of discussion and extensive verification. Lopp bluntly stated: "A successful quantum attack will bring huge economic chaos, and Bitcoin developers and users need to unite quickly."

However, the implementation of this proposal also faces multiple challenges:

Technical Challenges: The commonly used keys and signature files for post-quantum signatures can reach several KB, potentially increasing transaction data volume and further occupying block space. Miners, wallets, and node software also need to be upgraded in order to maintain network efficiency.

User Education: The market estimates that about 25% of Bitcoin is still in old format addresses. It is not easy to persuade long-term holders to operate their Private Keys and relocate their assets. If there are still people who have not upgraded in five years, the freezing mechanism will trigger an asset "shock," at which point legal and regulatory issues may also arise.

The Engineering of Exchanges and Custodians: For exchanges and custodians, completing address migration without disrupting daily operations is the biggest project in the coming years.

Resilience test, also an accelerator

From forks to scaling, the Bitcoin community has repeatedly found balanced solutions in times of crisis. This wave of quantum threats may become a critical point for a comprehensive upgrade of underlying cryptography. The "Hourglass" mechanism proposed by Marathon's Chief Engineer Michael B. Casey attempts to mitigate the impact of high-risk addresses by limiting transaction speed; large institutions such as BlackRock have also publicly listed Quantum Computing as a significant risk, urging the industry to transition to post-quantum defenses in advance.

Quantum computers are like a ticking time bomb hanging overhead; every discussion and every line of code is a bid for Bitcoin's survival time. When the countdown ends, whether Bitcoin can prove its resilience as "digital gold" depends on whether this upgrade can achieve a new balance between the community, technology, and economic costs.

The quantum computer crisis facing Bitcoin is a severe test of its core security mechanisms. The BIP proposals put forth by developers such as Jameson Lopp aim to ensure the security of Bitcoin in the post-quantum era through mandatory migration and technical upgrades. This requires not only broad consensus within the community and technological breakthroughs but will also test the overall resilience of the Bitcoin ecosystem. This upgrade battle will determine whether Bitcoin can continue to maintain its status as "digital gold."