Quantum Computing Threats and Bitcoin: Should Coins Be Frozen?

Bitcoin’s safety hinges on a mathematical algorithm called ECDSA—a system that, with today’s computers, is virtually unbreakable.
Yet experts warn that quantum computing could one day reverse the relationship between public and private keys. If a quantum machine can derive a private key from a public one, any coin whose public key has already appeared on the blockchain becomes vulnerable.

The Silent Threat

• Millions of idle coins: Roughly six million bitcoins have sat unused for years.
• Static addresses: Most of those coins reside in addresses that have never moved.
• Billions at risk: The value of these coins could reach billions of dollars, presenting a huge temptation for attackers.

Possible Countermeasures

1. Lock the coins

   • Locking at‑risk addresses would make them unspendable, preventing theft.
   • However, it also permanently removes funds that users might want to use later.

2. Change the cryptography

   • Switching from ECDSA would require unanimous agreement across the network.
   • History shows that major protocol changes face significant resistance.

The Bigger Question

Beyond the technical fixes, the core issue is community acceptance. Bitcoin’s philosophy insists that a transaction, once confirmed, is immutable. Freezing large amounts of money could violate this principle and potentially split the user base.