Bitcoin BIP-360 & BIP-361: quantum-proof addresses and debate about legacy freeze

Bitcoin devs don propose BIP-360 (di first quantum-resistant address/output type) and dem dey reason BIP-361, wey na plan to migrate—fit even “sunset”—old ECDSA/Schnorr spending paths wey fit become vulnerable if quantum computers reach level wey Shor’s algorithm fit break elliptic-curve signatures. For traders, wetin matter na the threat model, how much supply fit be vulnerable, and the timeline wey no clear. The risk na about signature verification, no be mining, because SHA-256 likely go still dey practically quantum-safe. Article talk say about 6.5–6.9 million BTC (like one-third of supply) dey inside addresses wit exposed public keys, including about 1.7 million BTC for very early “ancient” P2PK outputs. For now, no active quantum break dey, and migration windows wey dem dey talk na roughly 2029–2035. How upgrades go work: BIP-360 go bring new address format (wey go start with “bc1r”) wey use post-quantum signatures like NIST-aligned ML-DSA, designed to allow gradual migration similar to soft-fork. Trade-off be say signatures go big, fit make block space use and fees increase. BIP-361 dey focus to enforce deadline: after “signature sunset,” old vulnerable spends go be rejected at consensus layer. That one create trade-off between immutability and loss-of-access if coins no fit migrate. Market relevance: na precautionary infrastructure, no be immediate crisis. But BIP-361 headline risk fit bring back long-term worries about custody support, fee pressure, and governance-driven “freeze” stories. Expect short-term volatility from headlines, and clear direction go show only after concrete specs and test results appear.