A group of Bitcoin developers, including Jameson Lopp, CTO and co-founder of the self-custody service Casa, has proposed a Bitcoin Improvement Proposal (BIP) aimed at mitigating the risks posed by quantum computing to the cryptocurrency. The plan seeks to phase out quantum-vulnerable Bitcoin address types, urging users to migrate to post-quantum secure addresses within five years. Approximately 25% of the total Bitcoin supply, including around 1 million BTC linked to Bitcoin's creator Satoshi Nakamoto, is currently at risk of being compromised by advances in quantum computing. The proposal includes a freeze date to invalidate these legacy addresses to prevent potential theft. Experts warn that while quantum computers cannot yet crack Bitcoin, the rapid development of quantum technology could soon enable attackers to unlock encrypted data quickly. The U.S. National Security Agency has also recommended a shift to post-quantum cryptography by 2035. Discussions at recent Bitcoin conferences highlighted concerns about Bitcoin's resistance to innovation and the need for upgrades to ensure its long-term security and scalability. The community emphasizes decentralization and self-custody as core principles, with ongoing debates about balancing security, scalability, and governance.
“Right now, the security tax on #Bitcoin is approximately 2%.” - Peter Todd at BH2022 🐾 BH2022 broke down the real costs of securing the network. 🧡#BH2025 will dig even deeper into Bitcoin economics. 👉 https://t.co/NaRyoJBhH3 https://t.co/3y9Tmd8WbM
“Multiple implementations are a good thing. Using multiple implementations is a terrible idea. That’s the distinction.” - Peter Todd at BH2022 🐾 Precision matters in #Bitcoin 🧡 #BH2025 will go even deeper 👉 https://t.co/NaRyoJBPwB https://t.co/ZGD82BbuX3
“This is not limited to #Bitcoin. It’s like a Y2K bug - it exists because the #Unix timestamp is limited, and that’s it.”- @evoskuil at BH2022 🐾 BH2022 had unpopular opinions and uncomfortable truths. 🧡 #BH2025 will have more of both. 👉 https://t.co/NaRyoJBhH3 https://t.co/EuDYWpt7Q9