Satoshi's Bitcoin May Be Frozen to Prevent Quantum Theft

• •BIP-361 proposes freezing Satoshi's 1.1 million bitcoins to prevent quantum theft.
• •The coins are currently valued at approximately $91 billion and are considered untouched.
• •Quantum computers could potentially derive private keys from public keys, posing a significant risk.

A proposal known as BIP-361 aims to freeze approximately 1.1 million bitcoins attributed to Satoshi Nakamoto to protect them from potential quantum computer theft. Currently valued at around $91 billion, these coins are considered untouched and are a focal point of debate among Bitcoin developers. The coins, stored in an early address format called pay-to-public-key (P2PK), are at risk due to the potential future capabilities of quantum computers, which could derive private keys from public keys. The BIP-361 draft suggests that if quantum computing continues to advance, the private keys for these P2PK outputs could be discovered with high certainty, leading to theft. The proposal emphasizes the need for a quantum-safe address type before any freezing occurs. The timeline for quantum computer development remains uncertain, with estimates ranging from 2027 to 2030 for when such machines could become viable.