[BIP Proposal] No burn, Quantum Migration Proposal, Quantum Secure Asset Verification & Escrow (QSAVE)

This proposal contrasts with other methods such as the Quantum Resistant Asset Migration Protocol (QRAMP), which renders affected coins unspendable. Instead, QSAVE focuses on preserving the full value of Bitcoins at risk from quantum decryption while using the returns generated for protocol support and global public welfare. It addresses the issue of between 3.5 to 5.5 million Bitcoins being vulnerable due to exposed public keys and advocates for educational outreach and the migration of these at-risk coins to quantum-safe addresses.

The initiative offers a solution to prevent quantum appropriation—where early quantum technology users could claim these coins—and forced burning, which would detract from Bitcoin's value promise. By proposing protective custody, QSAVE aims to maintain ownership rights and use dormant capital for humanitarian efforts. The proposal outlines a comprehensive recovery process, consensus layer implementation strategies ranging from no action to hard fork requirements, and an implementation timeline that includes building consensus, infrastructure development, and active recovery phases.

QSAVE suggests a conservative fund management strategy targeting a 3-5% annual return without impacting market liquidity, with proceeds allocated to public goods like open-source development and quantum security research. The verification process for ownership claims involves cryptographic proof, government-issued identification, and knowledge of historical transactions, among other criteria. Governance is proposed to be decentralized with quadratic voting and a multi-council setup overseeing technical, allocation, and audit functions.

The rationale behind QSAVE aligns with Bitcoin’s core principles, addressing the practical challenges posed by advancements in quantum computing. It emphasizes the need for legal clarity and jurisdictional considerations, drawing parallels with existing precedents for lost property to justify the protective custody of digital assets. Overall, the proposal represents a thoughtful approach to safeguarding Bitcoin against quantum vulnerabilities, focusing on asset security and preservation while contributing to societal benefits, offering a balanced response to the quantum threat faced by the cryptocurrency community.