A Post Quantum Migration Proposal

The concerns raised revolve around the implementation of measures to authenticate Unspent Transaction Output (UTXO) holders in the advent of quantum computing capabilities. The critique is directed towards a proposal that, instead of safeguarding cryptocurrency assets, potentially exacerbates vulnerabilities. The argument suggests that by hindering the ability of users to transfer their funds to quantum-safe addresses, the proposal inadvertently extends the window of opportunity for the Cryptographic Research Quantum Computer (CRQC) to decrypt exposed public keys. This scenario posits a significant security risk as it could lead to unauthorized access to funds.

Furthermore, there's an examination of the proposal's impact on the economic incentives within the Bitcoin mining ecosystem. The point made is that if miners were able to gain more profit from exploiting these vulnerable PoW-locked coins rather than through traditional block mining, it would undermine the foundational incentive structure that secures the network. This shift could deter standard mining practices, which are essential for network security and integrity. The critique highlights a fundamental flaw in the proposal: rather than reinforcing the network's defenses against quantum computing threats, it might incentivize activities that compromise its security. This perspective underscores the need for solutions that not only transition UTXO holders to quantum-resistant addresses but also preserve the economic and security principles underlying the Bitcoin network.