Quantum Threat to Bitcoin: How Panic Could Break Crypto Before Physics Does

The threat of quantum computers to Bitcoin is still years away, yet fears surrounding it already threaten to destabilize the market. Experts warn that panic, not actual quantum computing advancements, could cause significant market reactions. Recent advancements by companies like IBM and Google have reignited discussions about 'Q-Day'—the day quantum computers can break Bitcoin's cryptography, specifically elliptic-curve cryptography (ECC). Current quantum computers are still far from achieving this level of capability, needing millions of qubits for fault-tolerant computation. Nevertheless, the potential for panic, driven by misinformation, could cause abrupt sell-offs in the crypto market. For instance, a single post about tariffs resulted in a massive market crash. Experts emphasize that the cryptocurrency community should prepare for the quantum threat now by transitioning to post-quantum cryptography. Proponents argue for gradual integration of quantum-resistant algorithms while acknowledging the slow governance structure of Bitcoin. The fear generated by the public perception of quantum computing, rather than the actual threat, may be the primary risk to Bitcoin's stability.

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