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Talk of quantum computers destroying Bitcoin is making the rounds again, but leading voices in crypto say the panic is getting far ahead of reality. While dramatic claims suggest Bitcoin could be wiped out overnight, experts argue these fears ignore how the network actually works and how far quantum technology still has to go.
At the same time, the Bitcoin price has shown mild weakness. On December 15, BTC traded around $89,608, down 0.62% in 24 hours. The drop briefly pushed Bitcoin as low as $87,996 before it bounced back near $89,900. The broader crypto market followed suit, losing more than $130 billion in value and bringing total market capitalization down to $2.98 trillion.
How the Quantum Fear Started
The renewed concern began after writer Josh Otten claimed future quantum computers could unlock Bitcoin’s earliest wallets. According to him, advanced machines could break the keys protecting Satoshi Nakamoto’s coins, shake investor confidence, and send Bitcoin’s price crashing. While the idea sounds serious, many experts say it skips over crucial details and exaggerates what quantum computers can actually do today.
Bitcoin Security Is Often Misunderstood
Blockstream CEO Adam Back stepped in to correct what he calls a basic misunderstanding. Bitcoin does not protect coins by locking data behind traditional encryption. Instead, it uses digital signatures to prove ownership.
In simple terms, Bitcoin users prove they own their coins without ever revealing their private keys. This system works very differently from files that can be unlocked or decrypted, making the threat far less direct than critics suggest.
Why Early Wallets Are Not Easy Targets
Another key point is how Bitcoin addresses behave. Public keys only become visible when coins are spent. Many early wallets, including those linked to Bitcoin’s creator, have never moved their funds.
Because of this, there is often no exposed public key for an attacker to target. Without that information, even a powerful quantum system would have nothing to crack.
Experts Disagree on the Timeline
Some leaders believe quantum computing deserves attention. Ethereum co-founder Vitalik Buterin has said the risk is real but measurable. Solana’s Anatoly Yakovenko estimates powerful systems could arrive within the next decade.
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However, Back takes a much calmer view. He believes meaningful quantum threats are likely 20 to 40 years away, if they ever arrive at all. Current machines still lack the stability needed to cause real damage.
Bitcoin Can Adjust Over Time
Bitcoin is not frozen in place. Quantum-resistant cryptography already exists, and the network can evolve long before any serious threat appears.
Bitcoin analyst Willy Woo echoed this view, saying even a worst-case event would not destroy the network. He believes sharp dips would attract strong buying from long-term holders. In his view, the result would be a long adjustment period, not the end of Bitcoin.
For now, most experts agree that the quantum panic makes headlines, but reality remains far less dramatic.
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FAQs
Quantum computing uses quantum bits to solve complex problems faster than traditional computers, but large-scale machines are still decades away.
No, quantum computing is a type of computer technology, not artificial intelligence, though it can accelerate AI tasks.
No, Bitcoin’s security relies on digital signatures, not traditional encryption, making quantum threats far from immediate.
No, market dips may occur, but long-term holders and network resilience make a sudden collapse highly unlikely.