Is Quantum Computer a Threat to Bitcoin's Price?
Any advances in quantum computing are worrying Bitcoin (BTC) investors. But is progress in this field really that dangerous?
We figure out when quantum computing will become a real threat to Bitcoin.
Quantum Threat to BTC Is Real, But Exaggerated
At the time of writing, quantum computing has advanced significantly. Google recently unveiled the 105-qubit Willow processor, and Microsoft released the Majorana 1 chip. However, cracking Bitcoin cryptography would require quantum computers with 1,500–3,000 stable qubits, which is currently unachievable.
Quantum computers work differently than classical computers. Not only are they faster, but they can also solve complex problems, including cryptographic algorithms, in an instant. BTC, like most other cryptocurrencies, relies on cryptography to protect transactions and wallets. In the event of a sudden breakthrough in quantum computing, addresses using outdated encryption methods will be vulnerable. For example, Satoshi Nakamoto’s wallet, which holds about 1.1 million bitcoins, would be at risk, as would about 25% of all coins stored in reused addresses.
In the short term, current advances in quantum computing could trigger panic selling. In a worst-case scenario, Bitcoin could fall by 30% or even 50% in just a few days. However, this does not mean that the cryptocurrency will be completely worthless. Most likely, developers will quickly update the network by implementing quantum-resistant cryptographic standards. Emergency measures could include migrating to new secure addresses and implementing quantum-safe encryption methods.
Decentralization is the key shield
The transition to quantum-resistant technologies is not an easy task. It requires coordinated efforts from miners, exchanges, and wallet developers. However, Bitcoin’s decentralized nature is its main advantage. The community can quickly implement necessary updates.
Long-term recovery will depend on the flexibility of cryptocurrency users. If the transition is successful, the price of Bitcoin will quickly stabilize after the initial shock, and investor confidence will be maintained. The threat of quantum computing is real, but does not yet require an immediate response.
Experts believe that the critical period will not occur until 2030–2035. The community has time to prepare and implement protective measures. It turns out that even if a quantum computing breakthrough occurs tomorrow, it will lead to temporary shocks in the Bitcoin market. However, the BTC price will not reach zero. The main thing is to adapt the network in time.
Источник: cryptocurrency.tech
