FYI - For Your Innovation Is Quantum Computing A Threat To Bitcoin? | Bitcoin Brainstorm 15
13 snips
Jan 2, 2025 
Join Cathie Wood, founder of ARK Invest, and Adam Back, a Bitcoin pioneer and CEO of Blockstream, along with Matt Corallo, a prominent Bitcoin developer, and Matt O'Dell, a Bitcoin advocate. They dive into the looming threat quantum computing poses to Bitcoin's security and discuss post-quantum cryptographic advancements. The conversation also touches on Bitcoin’s evolving role as a financial asset, user-friendly wallets, and growing institutional interest, providing insights into the future landscape of cryptocurrency.
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Quantum Computing Threat to Bitcoin
- Quantum computers are not a threat to Bitcoin yet, as they cannot factor even small numbers like 15.
- Current quantum computers lack the necessary computational power and coherence time for cryptographic attacks.
Bitcoin's Public Nature
- Bitcoin’s public nature makes it resistant to stealth attacks, unlike other systems.
- A quantum break in Bitcoin would be immediately evident, unlike attacks on less transparent systems.
Post-Quantum Cryptography and Taproot
- Bitcoin developers considered post-quantum cryptography during Taproot's design.
- A proposed solution involves adding post-quantum keys as a backup spending condition.