""Freezing any coins, even 'lost' ones, tells the market that all (roughly) 19.8 million BTC currently in circulation are conditionally owned," Op Net founder Samuel Patt told CoinDesk. "Institutional risk desks do not care about the reason, they care about the precedent.""
"Lopp stated, "I would rather for lost or dormant coins to be taken out of reach from an attacker rather than have them flow into the hands of an entity that likely doesn't care much about the ecosystem.""
Quantum computers could threaten cybersecurity, particularly for cryptocurrencies like Bitcoin. Developer James Lopp proposed freezing 5.6 million dormant Bitcoins, valued at $430 billion, to protect them from potential quantum attacks. This controversial plan could disrupt the crypto community's principles of ownership and control. Experts warn that freezing such a large portion of Bitcoin could signal conditional ownership, leading to market instability. Dormant Bitcoins are vulnerable due to outdated security standards, raising concerns about their future safety against quantum threats.
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