In the grand theater of cryptocurrency, where fortunes are made and lost faster than a magician’s trick, the illustrious Bitcoin bull, Michael Saylor, has taken the stage. With a flourish of his hand, he dismisses the ominous whispers surrounding quantum computing as nothing more than a marketing ruse, a ploy concocted by those eager to peddle their next quantum yo-yo token. 🎩✨
“It’s mainly marketing from people that want to sell you the next quantum yo-yo token,” he quipped during a June 6 interview on CNBC’s “Squawk Box.” Ah, the irony! In a world where the very fabric of reality is being questioned, we find ourselves debating the merits of a digital trinket. 😂
Yet, the specter of quantum computing looms large, casting a shadow over Bitcoin’s security like a dark cloud over a sunny picnic. According to the esteemed Project Eleven, a quantum research firm, a staggering 10 million Bitcoin addresses have exposed their public keys, leaving over 6 million Bitcoin dangling precariously, vulnerable to the whims of a quantum machine capable of cracking Bitcoin’s elliptic curve cryptography (ECC) keys. Yikes! 😱
But fear not, dear reader! Even if a legitimate quantum threat were to emerge from the bowels of a tech giant, Saylor assures us that they wouldn’t dare unleash it. “Google and Microsoft aren’t going to sell you a computer that cracks modern cryptography because it would destroy Google and Microsoft and the US Government and the banking system.” A rather astute observation, wouldn’t you say? 🤔
For anyone concerned about quantum computing hacking Bitcoin, please listen to @saylor calmly and rationally explain why you should sleep soundly at night.
— Natalie Brunell ⚡️ (@natbrunell) June 6, 2025
Bitcoin would just need to be upgraded, Saylor says
Should a legitimate quantum computer dare to threaten Bitcoin’s security, fear not! The protocol’s core developers and hardware manufacturers would spring into action, implementing a fix faster than you can say “blockchain.” Saylor confidently states:
“The answer is: Bitcoin network hardware upgrade, Bitcoin network software upgrade, just like Microsoft, Google, the US government upgrade.” Ah, the sweet sound of progress! 🔧💻
“We’re just going to upgrade the software.”
In a twist of fate, Saylor reveals that it is 10,000 times more likely for someone to lose their Bitcoin to a phishing attack than to the elusive quantum computing threat. “It’s the hardest thing in the universe to hack,” he declares, adding with a smirk, “They will hack your banking system, your Google account, your Microsoft account, and every other asset you have much sooner because they’re an order of magnitude weaker.” Touché! 🎯
Quantum’s threat to Bitcoin is already being put to the test
In a rather theatrical turn of events, Project Eleven has launched a competition to see who can crack the biggest chunk of a Bitcoin key using a quantum computer over the next year. The “Q-Day Prize” aims to test just how urgent the quantum threat is to Bitcoin and to discover quantum-proof solutions to secure Bitcoin for the long haul. Let the games begin! 🏆
IBM, Google’s quantum computers are still way off threatening Bitcoin
Current estimates suggest that around 2,000 logical qubits (error-corrected) would be enough to break a full, 256-bit ECC Bitcoin key, according to Project Eleven. Meanwhile, IBM’s Heron chip and Google’s Willow can currently muster only 156 and 105 qubits, respectively. So, while the threat is significant enough to raise eyebrows, we’re still far from a quantum apocalypse. Phew! 😅
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2025-06-09 09:08