Bitcoin Faces Quantum Computing Threats: Dual-Phase Security Plan Urged
A recent report warns that advances in quantum computing could undermine Bitcoin’s security by breaking its ECDSA signatures and centralizing mining power. It proposes a dual-phase strategy: a seven-year comprehensive shift to post-quantum cryptography and a two-year emergency response to a quantum breakthrough. About 6.51 million BTC (32.7% of the supply) in reused-address wallets are currently at high risk. The U.S. NIST aims to phase out classical algorithms by 2030 and adopt post-quantum standards by 2035, with similar moves in the EU, China, and the UK. Post-quantum signature schemes like SPHINCS+ and FALCON face performance challenges, and protocol changes (e.g., soft forks) may be needed. The community must balance user sovereignty against potential fund losses, avoid address reuse, monitor quantum developments, and contribute to transparent decision-making to safeguard Bitcoin’s long-term integrity.
Neutral
While the report highlights significant long-term security risks from quantum computing—such as private-key exposure and mining centralization—it does not indicate any immediate threat. Traders are unlikely to react with panic until practical quantum attacks become feasible. In the short term, the news may prompt heightened awareness around address hygiene, but market confidence in Bitcoin’s resilience and ongoing cryptographic upgrades should remain intact. Over the long term, successful adoption of post-quantum standards could reinforce trust in Bitcoin’s security model and support a stable or mildly bullish outlook once clear migration roadmaps are in place.