Leading Bitcoin Developer Proposes Freezing 5.6 Million Dormant BTC to Counter Quantum Computing Threats

A prominent Bitcoin core developer has expressed a preference for freezing approximately 5.6 million dormant bitcoins, valued at around $420 billion, rather than risking them being exploited by future quantum hackers. Jameson Lopp emphasized that, although he is hesitant to freeze anyone's assets, removing inactive tokens from circulation might be a safer option for the network. Lopp's comments follow the release of BIP-361, a proposal that explores phasing out Bitcoin's current cryptographic signatures and potentially invalidating transactions from quantum-vulnerable wallets. He described the proposal as a 'rough idea for a contingency plan' and hopes it will never be necessary. Lopp has previously expressed concerns about quantum recovery, stating that it rewards technological supremacy rather than productive participation in the network. The proposal has sparked intense debate within the community, with some arguing that freezing dormant accounts would undermine Bitcoin's core principles and others seeing it as a necessary measure to protect the network from potential threats.