Jameson Lopp’s Quantum-Safety Push: Upgrade Your Bitcoin or Lose It

By José Oramas July 18, 2025 In Bitcoin, Quantum Computing

A draft proposal titled ‘Post Quantum Migration and Legacy Signature Sunset’ outlines a phased plan to retire Bitcoin’s original signature methods before quantum computers can break them.
The soft fork would roll out in three stages and could freeze over 1 million BTC tied to early miner addresses—potentially including Satoshi’s $100B+ stash.
The authors warn that postponing the upgrade increases systemic risk, and that a quantum breakthrough could allow silent fund theft, destroying trust in the Bitcoin network.

A newly introduced Bitcoin Improvement Proposal (BIP) could radically reshape how older BTC is secured.

The draft, called ‘Post Quantum Migration and Legacy Signature Sunset’, outlines a roadmap to phase out Bitcoin’s original signature mechanisms before quantum computers render them obsolete.

The proposal was written by a group of cryptographers and blockchain engineers, including Jameson Lopp and Christian Papathanasiou, and comes amid mounting concern that quantum machines capable of breaking Bitcoin’s cryptography may arrive by the end of the decade.

The Quantum Threat

The proposal treats the quantum computing threat as an engineering inevitability, as machines capable of breaking Bitcoin’s elliptic curve cryptography could emerge by the end of the decade, if not sooner, citing a report from McKinsey

A successful quantum attack on Bitcoin would result in significant economic disruption and damage across the entire ecosystem. Beyond its impact on price, the ability of miners to provide network security may be significantly impacted.

Jameson Lopp, Christian Papathanasiou

To summarise it, the soft fork would unroll in three major stages, as shown below:

The draft urges that delaying the process would only increase complexity and risk. “The longer we postpone migration, the harder it becomes to coordinate”, the team warned. Even more, if a quantum breakthrough occurs before migration is complete, attackers could covertly extract funds, destabilising the market and completely obliterating any trust in the market.

Generally speaking, the implications are massive for everyone. If implemented, the soft fork would freeze more than 1 million BTC linked to early miner addresses, widely believed to belong to Satoshi. That stash alone is worth over US$100B (AU$153B) and has never moved since the coin’s inception.

The proposal is currently in draft stage and has not been assigned a BIP number. But it marks a significant step in formalising the network’s defense against what could be the most serious cryptographic threat in Bitcoin’s history.