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Is Quantum Computing A Threat To Bitcoin? | Bitcoin Brainstorm 15
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.
01:10:02
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Quick takeaways
- Quantum computing poses a potential future threat to Bitcoin, yet experts agree that its realization remains decades away, necessitating proactive preparation.
- Advancements in the Lightning Network, including silent payments and improved non-custodial wallets, are vital for enhancing Bitcoin's usability and adoption.
Deep dives
The Importance of Addressing Quantum Computing Risks
Concerns surrounding quantum computing's potential threat to Bitcoin are highlighted, emphasizing the need for foresight in preparing the network for possible future vulnerabilities. Despite the hype surrounding advancements in quantum computing, experts argue that it remains technically challenging and is not an imminent threat to Bitcoin's security. Notably, there's an ongoing debate about how many physical qubits are necessary for a quantum computer to effectively break cryptographic standards, with some estimations placing that capability many years, if not decades, away. Implementing preparations for quantum resistance today will be essential to ensure Bitcoin's long-term viability, building safeguards against what might emerge as a serious risk in the decades to come.
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