Against Allowing Quantum Recovery of Bitcoin

Agustín raises concerns regarding the proposition of allowing quantum computers to access funds from addresses that fail to upgrade to quantum-resistant standards. He argues against Saulo's free-market approach, which suggests leaving unupgraded coins available for acquisition, deeming it a risky move that could lead to significant turmoil within the Bitcoin community. Agustín highlights the potential for quantum computers to not only target lost or inactive Satoshi-era coins but also threaten active wallets, including those owned by major stakeholders. This scenario could drastically destabilize Bitcoin’s market value and erode trust in the cryptocurrency.

He advocates for the proactive freezing of funds susceptible to quantum hacking after providing users with a substantial period, such as four years, to transition to more secure addresses. This measure aims to preserve the core principle of Bitcoin — "your keys, your coins" — by safeguarding user assets from quantum-related thefts. Agustín views this strategy as a means to encourage the Bitcoin community to modernize its security measures, thereby strengthening the network’s overall resilience against emerging technological threats.

Furthermore, Agustín acknowledges the potential drawbacks of freezing funds, such as causing confusion among users or possibly leading to a split within the Bitcoin community akin to the Ethereum Classic scenario. However, he believes that the consequences of allowing quantum theft would be far more detrimental, casting Bitcoin as a flawed system rather than one that enforces strict, yet protective, policies. Drawing parallels with past successful updates like SegWit, Agustín argues for a well-planned and communicated migration strategy to prevent quantum exploitation of Bitcoin wallets, emphasizing the importance of maintaining the integrity and reliability of Bitcoin for all users.