Bitcoin quantum security proposal

Six Bitcoin developers, including Jameson Lopp, proposed BIP-361 to freeze ~34% of BTC supply and protect against quantum computing threats.

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MtGox was a more catastrophic theft than quantum will ever be. * 70% of all trading volume * 850,000 bitcoins stolen from them * 6% of all bitcoins that existed at the time * Roughly 1/10th of the entire marketcap of Bitcoin Look where we are now.

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You are a Bitcoin holder - you hear about a new proposal - called BIP-361 - something about quantum threats you don’t think much Bitcoin has always worked time passes - devs start talking about old wallets “Satoshi-era coins” “P2PK vulnerability” you read deeper - around 1.7M BTC exposed ~1.1M BTC from Satoshi - untouched for 16 years worth ~$70B+ then you see it, the plan - upgrade the network - give everyone a few years - migrate to quantum-safe addresses seems normal, until phase B - old signatures become invalid - funds that don’t move get frozen forever “for security” the rules change move your coins or lose them Satoshi’s wallet could be frozen the biggest holder in Bitcoin now the question is simple who decides what stays and what disappears?

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In Bitcoins News A new proposal that basically reads ...we're forcing you off the "old vulnerable system" onto a new ... slower ... unproven one ... for your "safety" and if you miss the 5-year window ... your coins are bricked forever. Since when can developers freeze addresses ON-chain? Since when do addresses not have a choice? ... what if I want to stay on the "old" & "vulnerable" system ... what if this new system is actually more vulnerable to other attacks ... who the f are these devs anyways, do they truly serve the interest of the community

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JUST IN: Charles Hoskinson on BIP-361, says "we as an industry are here to help. We have sharded PoW protocols, NIPoPoWs that enable trustless sidechains, eUTXO from #Cardano $ADA, Hydra, and they can turn Bitcoin into a leviathan. If you're gonna do a hard fork, do it right!"

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Michael Saylor's strategy is now back in profit as Bitcoin's price rises above $77,000


#Crypto.com Expands Prediction Markets #Quantum Bitcoin Security Proposal #Goldman Sachs Launches Bitcoin ETF #Quantum Bitcoin Threat Proposal

$BTC

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Michael Saylor's strategy is now back in profit as Bitcoin's price rises above $77,000


#Crypto.com Expands Prediction Markets #Quantum Bitcoin Security Proposal #Goldman Sachs Launches Bitcoin ETF #Quantum Bitcoin Threat Proposal

$BTC