Bitcoin’s Quantum Scare: Will it Survive the Future of Computers?

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Phased Approach to Address Quantum Computing Risks

The proposal suggests a most reasonable phased approach to address the quantum menace. The first phase will prevent individuals from sending Bitcoin to older, less secure addresses that quantum computers could easily breach. Quite a sensible move, I dare say. 🧐

Five years after this change, the plan will go even further, rendering it impossible to spend any Bitcoin stored in those vulnerable addresses—essentially freezing those coins in time. But fear not, for there is the possibility of a future step that might allow people to recover their frozen Bitcoin by proving ownership through special cryptographic methods linked to their wallet’s backup phrase. But alas, that part is still under study, and I imagine the researchers are busy with their calculations and papers. 📚

“The longer we postpone migration, the harder it becomes to coordinate,” the authors write. How true, how true. They argue that a clear, time-bound plan will bring certainty, align all the stakeholders, and reduce the risk of a catastrophic quantum theft. We can only hope they are correct. 🤞

Quantum Computing Threatens Bitcoin

In a recent opinion piece for CryptoMoon, David Carvalho, CEO of Naoris Protocol, expressed his deep concern over the rise of quantum computing. He declared that this technology poses the greatest threat to Bitcoin’s security yet, capable of breaching its cryptographic protections within five years or less. My stars, the anxiety this brings! 😨

He notes that recent advances, such as Microsoft’s Majorana chip, have hastened the development of powerful quantum computers, which, unlike their classical counterparts, threaten Bitcoin’s core security algorithms. And lo and behold, about 30% of BTC coins are currently sitting in addresses that are vulnerable to these very attacks. How utterly precarious! 😬

“A breach would be catastrophic for holders, whose funds would be gone forever, and the ecosystem at large,” Carvalho warned, with a rather grand flourish. He added, with no small degree of urgency, that the real threat lies not in quantum technology itself, but in the “community’s delay in acting decisively to secure Bitcoin’s future.” How very fitting—what is life without a little drama? 🤷‍♀️

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2025-07-16 16:29