After Crashes, Hacks, and FTX, a Veteran Investor Says This Is the Real Bitcoin Danger
The blockchain’s quantum conundrum is intensifying, elevating contemporary issues about whether or not Bitcoin can survive the long-term risk posed by quantum computing.
A veteran bull has warned that it poses Bitcoin’s first really existential danger, however is being ignored.
“Fighting the Last War”
Charles Edwards, founding father of Capriole Investments, stated he’s extra involved about Bitcoin’s future at this time than at any level throughout a number of market cycles, whereas citing the rising risk posed by quantum computing.
In a submit on X, Edwards explained that he had beforehand remained assured by excessive value crashes, alternate shutdowns, hacks, and main frauds akin to the collapse of FTX. He stated these occasions by no means undermined his long-term outlook on Bitcoin.
However, the present danger is completely different in nature, in response to Edwards, who warned that Bitcoin’s current cryptographic defenses are usually not sufficient to resist advances in quantum know-how. He in contrast the state of affairs to outdated navy methods being deployed in opposition to trendy warfare, and said that Bitcoin “doesn’t stand a probability” with out adaptation.
The investor additionally added that the most troubling side shouldn’t be solely the severity of the quantum risk itself, however what he described as the dismissal and lack of urgency surrounding the concern.
CryptoQuant founder Ki Young Ju had additionally voiced issues about the rising quantum computing risk dealing with Bitcoin. He said that defending the community might require troublesome selections. One potential resolution, in response to Ju, could possibly be freezing older Bitcoin addresses as a part of a quantum-resistant improve.
He added that implementing such modifications can be difficult, as the crypto neighborhood has usually struggled to agree on protocol updates. Ju even went on so as to add that belongings thought-about safe at this time might not stay secure if quantum know-how continues to advance.
Industry Remains Divided
Not everybody in the crypto trade agrees on how pressing the risk to the world’s largest cryptocurrency actually is. In December, Jameson Lopp, co-founder and chief safety officer of Casa, said quantum computer systems don’t pose a near-term danger to Bitcoin. He believes the know-how stays removed from having the ability to break Bitcoin’s cryptography. Lopp acknowledged that researchers ought to proceed monitoring progress in the area, however stated fears of an imminent risk are untimely. He additionally famous that making ready Bitcoin for a post-quantum future can be a lengthy course of.
Similar views have been expressed by Grayscale, which stated in a latest report that quantum computing is unlikely to have a significant impression on crypto markets in 2026. While acknowledging long-term dangers, the agency downplayed short-term penalties.
More just lately, Strategy co-founder Michael Saylor additionally minimized the concern. Speaking on Coin Stories with Natalie Brunell, Saylor said most cybersecurity specialists imagine any credible quantum risk stays greater than a decade away.
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