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.
Bitcoin was "in danger" 10 years ago and Bitcoin is still "in danger"(according to multiple
"doom and gloom prophets, who keep spreading FUD).
When quantum computers becomes a thing, do you really believe that the Bitcoin developers would just sit and do nothing?
What about online banking. I'm not an expert, but I do believe that it's totally possible for a quantum computer to just brute force and find out your bank account credentials. What happens with online banking, when quantum computers become a thing? Nobody asks that question, but everyone is really "concerned" about Bitcoin being "destroyed by quantum computing".
And no, I'm not one of the Bitcoin maximalists, who believe that Bitcoin is perfect and BTC will exist forever. Nothing is perfect and nothing exists forever in this universe.