Bitcoin could soon sacrifice part of its coins to survive the quantum era

Faced with the growing threat of quantum computers, a radical plan is on the table: to permanently burn thousands of bitcoins.

In the ever-evolving landscape of Bitcoin, a radical plan has been proposed to mitigate the threat of quantum computers. This threat, though distant, could have catastrophic consequences for the cryptocurrency.

To avoid this scenario, developer Agustin Cruz has designed the QRAMP BIP (Quantum-Resistant Address Migration Protocol) which, if adopted, would be a turning point in the history of Bitcoin.

The essence of the plan is to quickly migrate bitcoins to new addresses, compatible with quantum computers, before the protocol is activated.

After the protocol is activated, bitcoins left on vulnerable addresses would become unusable, thus equating to a destruction.

QRAMP predicts a limited transition period, after which any attempt to transact from an old address would be rejected.

The objective is clear: to prevent a future quantum computer from breaking the ECDSA algorithm, currently used to secure Bitcoin.

If this were to happen, thousands of addresses could be drained in a matter of moments. For its supporters, this extreme measure is unavoidable.

But the community, deeply committed to individual freedom and the immutability of the protocol, remains divided.

Quantum computers exploit the principles of quantum physics to perform calculations beyond the reach of traditional computers.

In theory, such a machine could easily find a private key from an exposed public key, thereby draining entire wallets in a matter of moments.

But reality is different. While Google announced it had achieved “quantum supremacy” as early as 2019, current capabilities remain insufficient to threaten Bitcoin.

According to experts, at least a 10 million qubit computer would be needed to effectively break ECDSA. To date, IBM, a leader in the field, only has a machine at 433 qubits. Yet this distant threat is driving some to act now.

If the QRAMP project is adopted, users will need to act quickly or risk permanently losing their BTC.

The most affected would be dormant wallets or those belonging to careless, missing, or deceased users. This massive destruction could potentially affect billions of dollars in bitcoins, an unacceptable situation for many.

The community is also concerned about the technical and political risks of such a hard fork, which could lead to fragmentation similar to that seen with Bitcoin Cash in 2017. The unity of the network, its main strength, could be compromised.

For BIP advocates, security urgency prevails: it is better to burn part of the bitcoins than risk a complete collapse.

Opponents argue, on the contrary, that this choice violates the fundamental principle of decentralization.

An alternative would be to accelerate the adoption of new post-quantum cryptographic solutions, such as enhanced Lamport or Schnorr signatures, without touching the monetary supply. But reaching a consensus on these options remains difficult.

The QRAMP BIP today forces Bitcoin to choose: sacrifice the immutability of the network or risk losing everything in the face of the inevitable advancement of quantum technology. An existential dilemma for the future of the king of cryptocurrencies.