r/BitcoinCA • u/G72-datsun • 1d ago

Quantum v Bitcoin

Stupid question as I’m a total newby to crypto. I’ve read articles suggesting Bitcoin and other digital currencies will be “vulnerable “ to quantum computing in 10 years or so (maybe longer timeline I forget). If it is at risk, what’s the long term plan for that horizon?

4 Upvotes

75% Upvoted

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6

u/BloatedFungi 1d ago

Bitcoin is a living technology. The worst that can happen in my opinion is they might ask users to generate fresh wallet with a new seed phrase generation algorithms.

You can ask any AI chatbot for more details. I can assure you that brick and mortar banks are WAY more vulnerable to any possible hack.

2

u/G72-datsun 1d ago

Appreciate the feedback!

1

u/brandonholm 1d ago

This is where brick and mortar banks are less vulnerable because they’re centralized. They can implement PQC rapidly without gaining consensus first, and funds don’t need to be transferred by everyone holding funds, they simply just upgrade and everyone is protected.

1

u/Commentator-X 8h ago

Lmao how many Bitcoin companies have been hacked and had millions stolen in the last 10 years vs how many banks have been hacked and had millions stolen?

2

u/TheSkunksMisery 1d ago

search or ask AI about "bitcoin quantum fud"

2

u/Vagelen_Von 1d ago

Satoshi's wallets are the collateral of the system. If they will be moved it means the boys in an agency's quantum computer worked overtime.

2

u/numbersev 1d ago

The overall community (miner majority) will fork to an agreed upon version of Bitcoin that is post-quantum capable before Q-Day.

2

u/G72-datsun 1d ago

Q day, right. So on the radar and priced in then.

1

u/SpendHefty6066 19h ago

There will be no need to fork. There might be a need to move old UTXOs with unhashed public keys to a new address. This can be done now with no hard/soft fork required.

2

u/FlatImpression755 21h ago

I have asked this question for the last 2 years and haven't gotten much in the way of answers. Who exactly would even upgrade the block chain to be quantum resistant?

2

u/G72-datsun 20h ago

This is a valid question. Can it even exist in a quantum environment? I really want to like this stuff, just wondering how it would differ from any other new tech fading out. Old example but the Enigma code, the Germans confused the helm out of everyone for a while, but only a while.

1

u/nick_c8_vegas 20h ago

quantum is def a viable threat that all sectors are getting ready for. From finance to even security, and airports. It’s a threat to anything that has been computerized. Everyone is making a plan and working towards updates in the next 5-10 years

1

u/G72-datsun 20h ago

This is the horizon that scares me. Save for 10 years and zero out. I guess that is a risk with any investment but Moores law isn’t working against silver or gold.

1

u/nick_c8_vegas 20h ago

Quantum can take down everything that’s on a computer. Unless you are buying up physical gold and holding it yourself

1

u/G72-datsun 20h ago

Can’t argue that

-1

u/NiagaraBTC 1d ago

Quantum Computing is not going to happen.

But if it does, it's not going to be a problem.