Coinbase Board Warns Bitcoin Must Prepare for Quantum Threat Now

A group of cryptocurrency experts on Coinbase's advisory board is urging Bitcoin to begin preparing for a transition to quantum-resistant security now. The report, which estimates that between 1.7 million and 5 million BTC could face future quantum-related risks, argues that the uncertainty around future advances in quantum computing warrants early planning.

The debate centers on whether vulnerable coins should eventually be frozen or left untouched. Some community members support establishing a migration deadline after which certain signature schemes would no longer be accepted, effectively freezing coins that have not moved to quantum-resistant addresses.

However, others argue that rendering coins unspendable would amount to confiscation of private property and conflict with Bitcoin's long-standing principles of immutability and user control over assets. The advisory board declined to recommend a preferred outcome for legacy Bitcoin holdings, stating instead that the decision should be made by the Bitcoin community.