A lot of people still think quantum computing is something way off in the future, but honestly the pace of progress has been surprising. It’s moving faster than most of us expected.right now, bitcoin and most other cryptocurrencies are built on elliptic curve cryptography . The problem is, once a public key shows up on-chain, a powerful enough quantum computer could, at least in theory, reverse it and figure out the private key.
Now,i am not saying this happens tomorrow,but if bitcoin does not upgrade its cryptography in the next 3–5 years, the risk gets very real. Quantum hardware is improving step by step, and once it crosses a certain threshold, the current security model won’t hold up.
We’re talking about the world’s fifth largest asset here. If it doesn’t adapt, the idea that its security could collapse almost overnight and bitcoin price will go to zero.
No, Bitcoin is not in danger. There have been more than enough topics about quantum computing and how it could be used to break classic systems, if quantum computing were to ever become more than what it is now. And that is a big IF.
I already wrote my answer to what I think about this topic in this post:
https://bitcointalk.org/index.php?topic=5543225.msg65391122#msg65391122We are all scared of the boogyman that does not yet exist and may never come into existance. It is all just FUD, as I see it.