When the quantum threat hits is unknown. Confiscating coins beforehand is irresponsible. It’s difficult because there’s likely no lead time, so I defer to not confiscating.
Discussion
The solution to that concern is lead time :). Provide a way to embed a QC-safe pubkey in outputs today, give wallets plenty of time to adopt it, then there will have been years and years of lead time :)
Arbitrarily deciding when to freeze peoples’ coins against a threat that has an unknown arrival time is irresponsible. I don’t disagree with adding quantum key schemes. I disagree with freezing peoples’ coins.
Waiting too long until it is too late is irresponsible.
Someone dumping stolen coins won’t kill bitcoin..
Setting a precedent that devs can alter account balances during “emergencies” is a much bigger long-term threat, especially if the “emergency” hasn’t arrived yet.
It’s a very dangerous precedent that should be resisted despite a price drop from someone dumping coins — minimizing the power devs wield is far more important. Nomos operates off of precedents, whether it’s legal or social consensus.