Peter Brandt Recognizes Bitcoin's Main Risk Factor
Well-known commodity trader Peter Brandt wrote that Bitcoins belonging to its alleged founder, Satoshi Nakamoto, pose the main risk to the world's largest cryptocurrency due to possible theft.
Apparently, the publication of his paper fueled speculation that quantum computing, when combined with a powerful computer, could reverse engineer private keys.
The first organization to build a super-powerful quantum computer could crack Bitcoin's encryption and gain access to Satoshi's vast fortune.
According to former Wall Street trader Josh Mandell, quantum technology is already being used to steal coins from old wallets.
As for Bitcoin supporters, many consider the panic over it to be exaggerated or at least premature. The necessary quantum technologies will be available in decades, providing ample time for work on post-quantum cryptography.
Regardless, Satoshi Nakamoto's 1.1 million bitcoins are still a source of intense interest. His massive holdings have remained untouched for about 15 years.
It's believed that these coins will never be moved because Satoshi is dead, according to Galaxy CEO Mike Novogratz. Others believe Satoshi will still make his mark or distribute his wealth to the public.
Source: cryptonews.net
