CASA co -founder Jameson Loppe opposed the restoration of lost bitcoins using quantum calculations and offered to burn them.
In My Latest Essay I Weigh in 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 that can hack the old formats of the address of the first cryptocurrency like P2PK, the opportunity to access lost coins will open. It is not only about the attributed Satoshi Nakamoto ~ 1 million BTC, but also, for example, about 7500 BTC on a thrown by British James Howells for a hard drive dump.
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 a problem in the return of coins to circulation using quantum calculations, comparing this with mining. However, Lopa believes that restoration of access to lost assets contradicts such fundamental principles of digital gold, as censorship resistance, immutability of transactions and conservatism.
Lop also noticed that many current addresses with significant amounts on the balance sheet are under a potential threat.
In his opinion, it is necessary to give everyone the opportunity to transfer funds to quanto-resistant addresses, and after the expiration of the set time to freeze all the assets of hacking.
Lopa cited Satoshi Nakamoto’s statement that lost bitcoins increase the value of other coins. Thus, restored assets will dilute the value of the first cryptocurrency, he emphasized.
In October 2024, Chinese scientists carried out the “first effective attack in the world” on the widely used encryption algorithm using a quantum computer
Experts later said that the aforementioned threat to cryptocurrencies is exaggerated.
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Source: Cryptocurrency
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