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An interesting topic - quantum computers and Bitcoin…❗️❗️❗️
Any advancements in quantum computing worry Bitcoin investors.
. But is progress in this area really that dangerous? Let's delve into this topic...
Recently, Google introduced the 105-qubit Willow processor, and Microsoft released the Majorana 1 chip. However, breaking Bitcoin's cryptography will require quantum computers with 1,500 to 3,000 stable qubits, which is currently unattainable.
Quantum computers operate differently than classical ones. They are not just faster, but also capable of instantly solving complex problems, including cryptographic algorithms. BTC, like most other cryptocurrencies, relies on cryptography to secure transactions and wallets. In the event of a sudden breakthrough in quantum computing, addresses using outdated encryption methods will become vulnerable. For example, Satoshi Nakamoto's wallet, which holds about 1.1 million bitcoins, and also around 25% of all coins on reused addresses, will be at risk.
In the short term, current advances in quantum computing could cause panic selling. In the worst-case scenario, the price of bitcoin could collapse by 30% or even 50% in just a few days. This does not mean that the cryptocurrency will completely depreciate. Most likely, the developers will quickly update the network by introducing quantum-resistant cryptographic standards.
However, the decentralized nature of bitcoin is its main advantage. The community can quickly implement the necessary updates.
Experts believe that the critical period will only occur in the years 2030–2035.
However, the price of BTC will not drop to zero. The key is to adapt the network in time.