[BIP Proposal] No burn, Quantum Migration Proposal, Quantum Secure Asset Verification & Escrow (QSAVE)

The discussion initiated by Javier Mateos delves into the intricate challenges Bitcoin faces regarding its security and future viability. He raises a critical point about the inevitability of human intervention in the Bitcoin network, contrary to the popular belief that it operates solely on algorithms without any human oversight. The concern highlighted revolves around the potential scenario where Bitcoin keys become unreliable, posing a significant risk to the ownership and value of Bitcoin assets held in safety deposit boxes by thousands. To mitigate this issue, Mateos proposes a solution aimed at preserving the essence of Bitcoin as Digital Gold.

Mateos' proposal introduces the idea of electing a global panel of experts who could adjudicate claims over Bitcoin ownership, thus ensuring a fair process in cases where the digital keys fail. This approach emphasizes the need for a system that can adapt to unforeseen challenges while maintaining the integrity and fairness of Bitcoin transactions. Furthermore, he suggests two possible paths forward: a hard fork or a no-fork solution. Both options aim to address the key failure issue but through different mechanisms.

In the no-fork solution, Mateos advocates for incentivizing white hat quantum actors to identify and recover vulnerable Bitcoin under lost property laws. This proactive measure would not only secure the assets but also contribute to the public good if unclaimed. However, he acknowledges the legal complexities that might hinder white hat activities due to existing computer misuse laws, suggesting that a consensus within the Bitcoin community to support these actors could provide necessary protection.

Alternatively, the hard fork solution proposed eliminates the risk associated with burning potentially vulnerable coins by incorporating them into a recovery process. This method seeks to ensure that the Bitcoin network makes a deliberate protocol decision to safeguard against unintended loss, thereby eliminating the risk for white hat actors involved in the recovery effort.

Despite the absence of detailed technical insights within his message, Mateos mentions that considerable coding efforts have been undertaken to develop these solutions. He stresses the importance of aligning the recovery process with legal standards, distributing it worldwide, and ensuring its fairness. Additionally, he hints at ongoing initiatives to implement best practices for enhancing network security and preparedness.

In summary, Mateos' communication underscores the critical need for adaptive strategies to secure Bitcoin's future, highlighting the potential for human intervention to resolve emerging challenges. His proposals offer a glimpse into the complex interplay between technology, law, and community consensus in the evolving landscape of cryptocurrency.