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

In the discourse concerning the future of Bitcoin and the challenges it faces, particularly regarding the security of its keys, a proposal has been made to address these concerns through human intervention, despite the prevailing assumption that Bitcoin operates purely algorithmically. The primary issue highlighted is the potential failure of Bitcoin keys in the future, necessitating some form of intervention to preserve the integrity and value of Bitcoin as digital gold. The suggestion involves electing a global panel of experts to adjudicate claims, with an acknowledgment that a significant portion of this process could be automated.

The proposal outlines two solutions to mitigate the risk associated with key failures. The first solution suggests a hard fork in the Bitcoin blockchain, which would allow for a recovery process without burning the coins. This approach aims to ensure that ownership can be established even when keys fail, thereby preventing the erasure of Bitcoin wealth stored in safety deposit boxes around the world. The second solution proposes a no-fork alternative where white hat quantum actors are encouraged, and possibly rewarded, for recovering vulnerable Bitcoin under lost property law. This approach relies on legal and ethical frameworks to enable white hats to act in the interest of protecting Bitcoin without the risk of being penalized for computer misuse.

The proposal emphasizes the importance of Bitcoin's community consensus in legitimizing and protecting the efforts of white hat actors, suggesting that a formal acknowledgment by the community could significantly enhance the security measures against potential threats. Moreover, it acknowledges the complexity of implementing such solutions, noting the absence of lawyers in drafting the proposal and framing it primarily as an engineering challenge. The need for a fair and legally compliant recovery process that operates globally is stressed, alongside the acknowledgment that while the solution is not simple, it is deemed possible with careful planning and execution.

Lastly, the proposal mentions ongoing efforts to implement best practices within the Bitcoin network to enhance its protection and preparedness for future challenges, indicating a proactive stance towards securing Bitcoin's legacy and promise as digital gold.