Concerns over Bitcoin’s early transaction formats have resurfaced as advancements in quantum computing pose potential risks to the cryptocurrency. Debate is growing on whether Satoshi Nakamoto’s 1 million BTC should be frozen to prevent exploitation by quantum attackers. Bitcoin’s earlier pay-to-public-key (P2PK) format exposes public keys on the blockchain, which could be vulnerable if quantum computers develop the capability to derive private keys from them. This risk is highlighted by Emir Sirer, founder of Ava Labs. Although freezing Satoshi’s coins could be seen as a precautionary measure, it raises complications regarding Bitcoin's decentralization and immutability principles. Any attempt to freeze these coins would require consensus within the Bitcoin community, likely necessitating the creation of a Bitcoin Improvement Proposal (BIP). This action could lead to a soft or hard fork of the blockchain. While the immediate threat from quantum computing has not materialized, the potential for future attacks on Satoshi’s holdings is prompting discussions about their implications for the broader crypto market and whether it might encourage Satoshi to reveal their identity.

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