Google Quantum AI dropped some research recently about quantum computing being a potential threat to like 6.9 million BTC. Thats includes Satoshi's coins. Now the dev community is actually discussing BIP-361, it would basically lock up 5.6 million BTC that haven't moved in years.
The pro-freeze crowd says it's just being smart. If quantum tech catches up and nobody did anything, those coins getting drained would be catastrophic. Also, some are saying if Satoshi's coins can be frozen, then they can freeze anyone's coins. If so, how is this any different from a bank?
I don't think this is a question with a clean answer. But it does force us to pick a side on something bigger. Is BTC a product or a belief system? If a product, patch it, ship the update. If a belief system, you don't get to touch the foundation just because it's convenient.I saw someone in the bydfi community say they'd sell everything if BIP-361 passes. That sounds extreme, but I kinda get where they're coming from.
What do you think? Does BIP-361 make Bitcoin stronger or does it just prove that "Code is Law" was never real?
BIP-361 wants to freeze Satoshi's coins. Do you still believe "Code is Law"?
byu/Unique_Reputation568 inbtc
Posted by Unique_Reputation568
2 Comments
A BIP is just a fancy paper for some people to say something in a very formalized way.
BIP-361 is just a proposal and will never happen.
It won’t happen on Bitcoin Cash, the chain he created in 2009.