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Won't all crypto be at risk from quantum computing if Bitcoin is hacked?
Bitcoin gone FUCK!
- Thread starter Chase
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Bitcoin braces for a quantum computing onslaught
The cryptocurrency community is starting to worry about a new generation of super-powered computers that could turn the digital monetary world on its head
An installation at the Bitcoin 2025 Conference in Las Vegas
(Image credit: Tayfun Coskun / Anadolu via Getty Images)
Rafi Schwartz, The Week US's avatar
published yesterday
Quantum computing, the prospect of advanced computations beyond the binary limitations of ones or zeros, may be the harbinger of advancements to come. But cryptocurrency adherents are starting to wonder if their digital monetary system is ready for what this new age of data processing might bring.
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Preparing for a 'potential catastrophe'
The "technological leap" of quantum computing could "pose new risks" to cryptocurrency users and potentially "undermine the cryptographic backbone of blockchain," said quantum computer developer Yuval Boger at Forbes. Although the "immediate risks are low," the future could see "large-scale, error-corrected quantum computers" capable of running algorithms that could break the elliptic curve cryptography (ECC) used by bitcoin as one of the industry's main security protocols.
While current quantum computers "aren't yet powerful enough," the "risk is real in the long term," said Isaac Kim, a computer science professor at UC Davis, in a recent interview with the crypto research firm Presto Labs. Despite "slight differences" between the levels of risk for each different type of cryptocurrency, "any blockchain that uses ECC, like bitcoin and ethereum, are vulnerable."
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"Crypto is underprepared," researcher Rick Maeda said in an interview with CoinDesk on Monday. "The biggest risk is just waiting too long."
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Although some members of the crypto community are willing to "shrug off" the looming threat posed by quantum computing, "behind closed doors," a number of leading figures in the field are "concerned about a potential catastrophe," said Decrypt. Experts now believe the industry has "less than a decade, even a handful of years" to enact "contingency plans." And even that might be optimistic: A new paper published last month by Google Quantum AI researcher Craig Gidney suggests that the RSA encryption used by bitcoin could be overcome using "20 times fewer quantum resources than previously estimated," Benzinga said.
'Post-quantum' protections
Given how serious the threat to cryptocurrency from quantum computing is, a "proactive approach" is "critical" to preempt disruption to an industry worth hundreds of billions of dollars annually, researchers from the University of Kent's School of Computing said in a late 2024 study detailing what such an approach might look like. The only way to prevent wide-scale quantum disruptions for an asset like bitcoin, the authors said, is "to upgrade — replace — the currently used public-key cryptosystems" to ones that have "no known vulnerabilities to quantum attacks." This is known as "post-quantum cryptosystems."
That type of complete "protocol update" would "take the cryptocurrency offline for 76 days," Fortune said. More "realistically," bitcoin could dedicate just a quarter of its server space to the upgrade — allowing users to "continue to mine and trade at a slower rate" — in which case the downtime would last an estimated ten months.
Broadly, that downtime risk speaks to what Maeda said is a "key barrier" to addressing the looming challenge. "It's difficult to create a way to monetize this," Maeda said to CoinDesk. But those preparations need to happen sooner rather than later, he added. "We can't wait until the threat is real to start taking it seriously. By then, it's already too late."
Explore More
The cryptocurrency community is starting to worry about a new generation of super-powered computers that could turn the digital monetary world on its head
An installation at the Bitcoin 2025 Conference in Las Vegas
(Image credit: Tayfun Coskun / Anadolu via Getty Images)
Rafi Schwartz, The Week US's avatar
published yesterday
Quantum computing, the prospect of advanced computations beyond the binary limitations of ones or zeros, may be the harbinger of advancements to come. But cryptocurrency adherents are starting to wonder if their digital monetary system is ready for what this new age of data processing might bring.
Advertisement
Preparing for a 'potential catastrophe'
The "technological leap" of quantum computing could "pose new risks" to cryptocurrency users and potentially "undermine the cryptographic backbone of blockchain," said quantum computer developer Yuval Boger at Forbes. Although the "immediate risks are low," the future could see "large-scale, error-corrected quantum computers" capable of running algorithms that could break the elliptic curve cryptography (ECC) used by bitcoin as one of the industry's main security protocols.
While current quantum computers "aren't yet powerful enough," the "risk is real in the long term," said Isaac Kim, a computer science professor at UC Davis, in a recent interview with the crypto research firm Presto Labs. Despite "slight differences" between the levels of risk for each different type of cryptocurrency, "any blockchain that uses ECC, like bitcoin and ethereum, are vulnerable."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Latest Videos From The Week
"Crypto is underprepared," researcher Rick Maeda said in an interview with CoinDesk on Monday. "The biggest risk is just waiting too long."
Advertisement
Although some members of the crypto community are willing to "shrug off" the looming threat posed by quantum computing, "behind closed doors," a number of leading figures in the field are "concerned about a potential catastrophe," said Decrypt. Experts now believe the industry has "less than a decade, even a handful of years" to enact "contingency plans." And even that might be optimistic: A new paper published last month by Google Quantum AI researcher Craig Gidney suggests that the RSA encryption used by bitcoin could be overcome using "20 times fewer quantum resources than previously estimated," Benzinga said.
'Post-quantum' protections
Given how serious the threat to cryptocurrency from quantum computing is, a "proactive approach" is "critical" to preempt disruption to an industry worth hundreds of billions of dollars annually, researchers from the University of Kent's School of Computing said in a late 2024 study detailing what such an approach might look like. The only way to prevent wide-scale quantum disruptions for an asset like bitcoin, the authors said, is "to upgrade — replace — the currently used public-key cryptosystems" to ones that have "no known vulnerabilities to quantum attacks." This is known as "post-quantum cryptosystems."
That type of complete "protocol update" would "take the cryptocurrency offline for 76 days," Fortune said. More "realistically," bitcoin could dedicate just a quarter of its server space to the upgrade — allowing users to "continue to mine and trade at a slower rate" — in which case the downtime would last an estimated ten months.
Broadly, that downtime risk speaks to what Maeda said is a "key barrier" to addressing the looming challenge. "It's difficult to create a way to monetize this," Maeda said to CoinDesk. But those preparations need to happen sooner rather than later, he added. "We can't wait until the threat is real to start taking it seriously. By then, it's already too late."
Explore More
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Bitcoin, the world's largest cryptocurrency by market value, was down by 4.13 per cent at $99,237 at 10:52 a.m. ET (1452 GMT) on Sunday.
Ether, the second-largest cryptocurrency, was down by around 8.52 per cent at $2,199.
https://www.channelnewsasia.com/business/bitcoin-falls-4-99237-5196811
Ether, the second-largest cryptocurrency, was down by around 8.52 per cent at $2,199.
https://www.channelnewsasia.com/business/bitcoin-falls-4-99237-5196811
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If quantum computer can steal Bitcoin, they can steal anything. Shares, stocks, bonds, properties, bank accounts.....
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Over the past year, "bitcoin whales" have dumped over 500,000 BTC, institutionalised take backs and stabilised the market
By: Russell Thompson | yesterday, 21:44
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Over the past 12 months, the crypto market has undergone a quiet but powerful shift: large private holders of bitcoin - the so-called "whales" - have sold off more than 500,000 BTC (at current exchange rates ≈ $50 billion). But these coins did not go nowhere: they were happily bought by institutional investors, cumulatively building up their positions to almost 900,000 BTC. As a result, the market is becoming less chaotic and more "mature" - with less volatility and new rules of the game.
Why are "whales" selling out?
We are talking about early investors, crypto miners, offshore wallets and unidentified "old-timers" of the network, who bought BTC back at prices of $100-$1,000 and for years held significant volumes - from 1,000 to 10,000 BTC. Analysts assume that some of them started to "cash out", fixing multiple profits. Some simply as part of portfolio rebalancing, others because of worsening regulation or approaching retirement age (literally).Particular activity was noted in the first quarter of 2025 as bitcoin climbed above the $90,000 mark - whales started to exit and funds started to actively enter.
Who is replacing them?
According to Bloomberg and 10x Research, the main buyers have been large funds and institutional players: these include ETFs (e.g., BlackRock, Fidelity, Ark Invest) as well as corporate traders like MicroStrategy. Pension funds, asset managers and private banks are also among the buyers.According to reports, institutional investors now own about 25% of all BTC issuance - that's more than 4.8 million coins - making them the largest ownership class. By comparison, whales (addresses with 1,000-10,000 BTC) saw their share drop by nearly 10% over the year.
Institutional investors own about 4.8 million coins out of the roughly 20 million bitcoins in circulation. Illustration: 10x Research
What's making a difference.
- Declining volatility.
According to Deribit, BTC's 30-day realised volatility has hit a two-year low. This is due to institutionalists tending to hold positions longer and not reacting to harsh news or Ilon Musk's tweets. - Changing growth model.
With the arrival of institutionalisation, the BTC market is becoming more "gold-like" - not a hype drive, but long-term capital protection. This means less speculative spikes, but also more stable capitalisation. - Fund effect.
ETFs are becoming the new gateway to the market for retail - more people are buying bitcoin through regulated instruments rather than directly into wallets.
But there are risks
Analysts warn: if capital flows into ETFs slow down and the former "whales" continue to sell, it could lead to short-term drawdowns. In addition, institutional concentration carries systemic risks: if one of the major players falls under sanctions or goes bankrupt, it could hit the market hard.
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Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win
PUBLISHED TUE, JUN 17 2025 5:53 PM EDTUPDATED THU, JUL 3 2025 8:54 AM EDTMacKenzie Sigalos@KENZIESIGALOS
WATCH LIVE
KEY POINTS
- The GENIUS Act establishes the first federal framework for dollar-pegged stablecoins, granting sweeping authority to the Department of Treasury and opening the door to banks, fintechs, and retailers.
- Democrats failed to secure a provision barring the president from profiting, even as Trump disclosed earning $57 million from token sales in 2024 alone.
- Industry giants like Amazon and Walmart are reportedly moving toward stablecoin-style offerings as payment networks brace for disruption.
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No worries, only Goggle Dua Kee can build in next 20-50yrs
Most of us here will be already in a better place or old folks home waiting for our turn by then…
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From Rich Dad , Poor Dad Robert 头
As tempting as Bitcoin going to $200,000 to $1 million is, I don’t want to be a hog and get slaughtered. If you have not begun acquiring Bitcoin, I suggest starting very small, starting with a Satoshi.”
The Bitcoin bull also warns of a global financial collapse, which he says may present a buying opportunity.
“Remember, Warren Buffett is out of stocks and sitting on $350 billion in cash. I suspect he is waiting for the world to crash. Then he will move back in and buy the best assets with cash. Time to get smarter and the best time to get rich if you are smart, patient, studying and aware. Please take care. Millions are about to become poorer. I want you to become richer.”
As tempting as Bitcoin going to $200,000 to $1 million is, I don’t want to be a hog and get slaughtered. If you have not begun acquiring Bitcoin, I suggest starting very small, starting with a Satoshi.”
The Bitcoin bull also warns of a global financial collapse, which he says may present a buying opportunity.
“Remember, Warren Buffett is out of stocks and sitting on $350 billion in cash. I suspect he is waiting for the world to crash. Then he will move back in and buy the best assets with cash. Time to get smarter and the best time to get rich if you are smart, patient, studying and aware. Please take care. Millions are about to become poorer. I want you to become richer.”
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Bitcoin bubble? How much more is it expected to rise in 2025?
Bitcoin bubble? How much more is it expected to rise in 2025? ·Euronews
Doloresz Katanich
Fri, July 18, 2025 at 1:01 PM GMT+8 5 min read
In This Article:
BTC-USD+1.71%
BUBBLE-USD
-2.98%
https://www.interactivebrokers.com.sg/mkt
Earn high interest-paid on your idle cash balance!interactive brokers•
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The price of Bitcoin (BTC) is expected to reach a high of $162,353 this year (€139,148), before it settles at around $145,167 (€124,418).
That’s according to UK fintech firm Finder’s latest survey, collecting price predictions from 24 crypto industry specialists.
Within responses, high and low estimates range widely, and the most optimistic predictions expect a peak price of $250,000 this year. The average lowest price prediction sits at $87,618, with some predicting that Bitcoin will fall as low as $70,000.
The cryptocurrency has recently reached $120,000 from just below $100,000 at the end of last year.
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