BlackRock show concern; Says BTC Source Code Could Be Rendered Flawed

[Silentcursor]

Yeah BlackRock Issues Bitcoin Warning, Says BTC Source Code Could Be Rendered ‘Flawed or Ineffective’ by Quantum Computing

BlackRock, which is the first ever successful Bitcoin ETF, now holds over 275,000 Bitcoins, through its shares Bitcoin Trust (IBTT). Recenyl they raised a concern that Bitcoin source code and cryptographic security could be broken, if not now but in the future by quantum computers which impose a huge risk to how large they hold Bitcoin. The concern is specifically on how fast quantum computers can advance.

Actually, everything (emails, banks, treasury, https website, messaging/privacy apps, VPN etc) will be rendered flawed or ineffective by quantum computing.

Forbes
Cointelegraph

The amended prospectus, filed on May 9, includes extensive details about how quantum computing advances could compromise Bitcoin’s cryptographic security.
As filed with the Securities and Exchange Commission on May 9, 2025.

“…In the past, flaws in the source code for digital assets have been exposed and exploited, including flaws that disabled some functionality for users, exposed users’ personal information and/or resulted in the theft of users’ digital assets.

The cryptography underlying Bitcoin could prove to be flawed or ineffective, or developments in mathematics and/or technology, including advances in digital computing, algebraic geometry and quantum computing, could result in such cryptography becoming ineffective. In any of these circumstances, a malicious actor may be able to compromise the security of the Bitcoin network or take the Trust’s Bitcoin, which would adversely affect the value of the Shares. Moreover, the functionality of the Bitcoin network may be negatively affected such that it is no longer attractive to users,
thereby dampening demand for Bitcoin.

Even if another digital asset other than bitcoin were affected by similar circumstances, any reduction in confidence in the source code or cryptography underlying digital assets generally could negatively affect the demand for digital assets and therefore adversely affect the value of the Shares.

Moreover, because digital assets, including bitcoin, have been in existence for a short period of time and are continuing to develop, there may be additional risks in the future that are impossible to predict as of the date of this prospectus.”

Sources
THE DAILY HODL

[dumpsterhawk]

They are not issuing a warning, they are adding legal protection for themselves. This is nothing new but again fake FUD by the media regarding an alleged risk posed by quantum computing. If quantum computers start becoming a thread, Bitcoin will move to new address formats. We are likely to have bigger issues from global events than this. Do you know that you can see articles like this every couple of months?

[OcTradism]

Yeah BlackRock Issues Bitcoin Warning, Says BTC Source Code Could Be Rendered ‘Flawed or Ineffective’ by Quantum Computing

It is a fud attempt from BlackRock with hope of creating panic sell and dumping the market for their accumulation at cheaper prices. Did BlackRock do due diligent research about Bitcoin, fundamentally and technicaly before submit their Bitcoin Spot ETF application?

I emphasize about their Bitcoin Spot ETF application, not about their Bitcoin Spot ETF operation after approved in January 2024.

BlackRock, which is the first ever successful Bitcoin ETF, now holds over 275,000 Bitcoins

Your post shows that you are like a big fan of BlackRock and its Bitcoin Spot ETF or you are not their fan but seriously understood inaccurately about Bitcoin Spot ETF industry.

BlackRock Bitcoin Spot EFT was approved together with other Bitcoin Spot ETFs, on a same day in January 2024. So they are not a first successful Bitcoin Spot ETF!

[nativebtc]

True, quantum computing is a risk — but not just for Bitcoin. It’s a threat to all modern cryptography. The good news? Devs are already working on quantum-resistant algorithms. Bitcoin can adapt. The real question is: will governments and banks move that fast?

[Doan9269]

Yeah BlackRock Issues Bitcoin Warning, Says BTC Source Code Could Be Rendered ‘Flawed or Ineffective’ by Quantum Computing

It is a fud attempt from BlackRock with hope of creating panic sell and dumping the market for their accumulation at cheaper prices. Did BlackRock do due diligent research about Bitcoin, fundamentally and technicaly before submit their Bitcoin Spot ETF application?

I also sense that there is an intention of then buying to accumulate more and this may just be a trick that they want to employ in making as many as possible to sell so that the market can be rented out to bear and they buy, then we see more all time highs and they got profitable at the cause, this institutions are very wise in their actions, some are just with the intention of causing the market to react on some of the news spread, because they understand how the bloggers could spread the information all over the social media causing FOMO.

[OrangeCoinGood]

This is a funny thread.  If it can break bitcoins encryption, it will have already long taken control of all the nukes on the planet, all the biolabs, everyone's bank accounts, etc.

In other words, we won't even notice.

[DeathAngel]

They have to make all information available & be transparent to investors. In truth, if Quantum a Computing becomes a reality any time soon then Bitcoin will be far down the list in potential attack targets. Malicious actors would target banking, social security numbers, addresses, nuclear weapon activation codes. Bitcoin can be forked & Quantum resistant Bitcoin addresses will become a thing soon any way. Do not worry, Bitcoin will be fine.

[dumpsterhawk]

True, quantum computing is a risk — but not just for Bitcoin. It’s a threat to all modern cryptography. The good news? Devs are already working on quantum-resistant algorithms. Bitcoin can adapt. The real question is: will governments and banks move that fast?

It is not a practical risk, only a theoretical risk. It may not manifest for decades to come, nobody really knows right now.

This is a funny thread.  If it can break bitcoins encryption, it will have already long taken control of all the nukes on the planet, all the biolabs, everyone's bank accounts, etc.

In other words, we won't even notice.

The same fearmongering about quantum computers comes up, and the same arguments are provided to rebuke them. The cycle keeps repeating endlessly. I'm sure that if Bitcoin moved to quantum resistant addresses tomorrow, they would find another reason to spread FUD.

[Ambatman]

Yeah BlackRock Issues Bitcoin Warning, Says BTC Source Code Could Be Rendered ‘Flawed or Ineffective’ by Quantum Computing

It is a fud attempt from BlackRock with hope of creating panic sell and dumping the market for their accumulation at cheaper prices. Did BlackRock do due diligent research about Bitcoin, fundamentally and technicaly before submit their Bitcoin Spot ETF application?

No this is not FUD by BlackRock. It's more of a insurance 
BlackRock gain nothing from creating FUD. They don't buy Bitcoin with their funds but that of investors
They are more like custodians and are paid a fee for holding your Bitcoin.

Nothing new the case about quantum threat has been ongoing before BlackRock made this statement
Which should some weeks ago.
If I have a quantum machine with such computing power Bitcoin wouldn't even be the top ten in my mind.
They made this to let investors know about potential risk not existing risk
Quantum machines ain't a threat to Bitcoin currently maybe in decades.

[avikz]

Yeah BlackRock Issues Bitcoin Warning, Says BTC Source Code Could Be Rendered ‘Flawed or Ineffective’ by Quantum Computing

It is a fud attempt from BlackRock with hope of creating panic sell and dumping the market for their accumulation at cheaper prices. Did BlackRock do due diligent research about Bitcoin, fundamentally and technicaly before submit their Bitcoin Spot ETF application?

No this is not FUD by BlackRock. It's more of a insurance 
BlackRock gain nothing from creating FUD. They don't buy Bitcoin with their funds but that of investors
They are more like custodians and are paid a fee for holding your Bitcoin.

Nothing new the case about quantum threat has been ongoing before BlackRock made this statement
Which should some weeks ago.
If I have a quantum machine with such computing power Bitcoin wouldn't even be the top ten in my mind.
They made this to let investors know about potential risk not existing risk
Quantum machines ain't a threat to Bitcoin currently maybe in decades.

I do agree with you! It's not a FUD they are trying to create. It's more of an official statement that says - "if the Bitcoins that we hold for you, get stolen due to the advancement of quantum computing, you can't hold me responsible and can't expect me to refund you".

It's a technique big corporations use to safeguard themselves in case anything goes wrong. I can assure you that this statement will soon become a part of their T&Cs, if not added already.

[Ucy]

A well decentralized system like Bitcoin is hack-proof unlike centralized entity like b'rock. It's hack-proof because its system is designed to be watched and validated by nodes of many people spread across the world, plus the combination of other useful features. It's not like a centralized system that's centrally watched or that exist on one or few locations.
By the way,  Bitcoin is not only secured physically, it's "extraordinarily" protected, and this means that before a hack happens in the physical sphere of existence it will first of all happen on "the other side". So, the quantum computer has to successfully breach the security of the other side before it succeeds physically. This is basically impossible as long as Bitcoin is more morally superior.

Decentralized systems are generally difficult to hack, as long as they operate within these most important principles of Bitcoin below, which from our observation have to be applied together to improve the security of a decentralized system and their participants.
 
* Decentralization:  don't centralized control, power, verification and validation/approval.

* Transparency/opensource: Keep it transparent enough for anyone to monitor and contribute to solving issues.

* Immutablity: There should always be exact records of all data/info. They should be unchangeable or undeletable. People can always refer to them when needed, they can serve as evidence when something goes wrong, or they can repopulate another platform when the other stops existing etc

* Trustlessness: Don't trust but verify

* Permissionless: the barrier to entry should be low to allow anyone to join, contribute and use.

* Censorship resistant:  Info/data should be censorship proof (unless they prevent the system/network from working properly), individuals can choose to block or avoid it and its creator

* Reputation: use this to limit dishonest participants

* Anonymity/privacy: protect the identity of honest participants

* Unlimited accounts or multiple points of control: It's important not to have all your valuable in one account. Try to split them into multi accounts. This is especially helpful against hacks or attack from things like quantum computers.

* Data/assets control and distribution: it's important to self custody your assets/data and only import or access them where you want to use them, like on wallets, websites etc.

[franky1]

im a bitcoin maximalist, but a realist, i dont fear informing people of the risks aswell as benefits. people should be made aware of risks as much as benefits.. just spouting the benefits or the old verbage of promotional buzzwords doesnt always help. making people aware of risks helps people then be aware and not let things slide in unnoticed

* Decentralization:  don't centralized control, power, verification and validation/approval.

CORE, hints literally in the name.. everyone relies on, and trusts in one dev-political-hierarchy aligned group

* Transparency/opensource: Keep it transparent enough for anyone to monitor and contribute to solving issues.

analogy
if a newspapers pages can be open and read, but the closed room board of news editors control the stories narative/political leaning, and only allow people to contribute mostly to grammar mistakes.. is the newspaper truly open and transparent

* Immutablity: There should always be exact records of all data/info. They should be unchangeable or undeletable. People can always refer to them when needed, they can serve as evidence when something goes wrong, or they can repopulate another platform when the other stops existing etc

pruned, stripped, non archival
validation bypass: assume valid, isvalid

* Trustlessness: Don't trust but verify

assumevalid, isvalid
moderations of most technical discussion platforms are the very same devs that are the dev politicians of core

* Permissionless: the barrier to entry should be low to allow anyone to join, contribute and use.

free to use the software, but participate in any meaningful technical development, bow your head kiss the ring of core
nominations: Nack
look into whom gets to be a maintainer and have 'force-merge', 'self-merge' status

* Censorship resistant:  Info/data should be censorship proof (unless they prevent the system/network from working properly), individuals can choose to block or avoid it and its creator

legacy depreciation

[X-ray]

I do agree with you! It's not a FUD they are trying to create. It's more of an official statement that says - "if the Bitcoins that we hold for you, get stolen due to the advancement of quantum computing, you can't hold me responsible and can't expect me to refund you".

It's a technique big corporations use to safeguard themselves in case anything goes wrong. I can assure you that this statement will soon become a part of their T&Cs, if not added already.

Exactly what I'm thinking as well, they are just trying to safeguard nothing more.

As for the quantum computing risk, it's all still speculation, none of quantum computer are functional enough to break the encryption at least until few decades.

But the solution is coming up, bitcoin isn't stagnating, it will upgrade its security and respond to such threat.

[Sonia_123]

Just-In: BlackRock Breaks Acccumulation Streak, Moves $429M In Bitcoin To Coinbase Prime
After nearly a month of Bitcoin purchases, BlackRock has transferred a sizable amount of BTC to Coinbase Prime, sparking sell-off fears.
https://coingape.com/blackrock-breaks-acccumulation-streak-moves-429m-in-bitcoin-to-coinbase-prime/
BlackRock has moved $429M in Bitcoin to a centralized exchange hinting at a potential sale.
The move follows a consistent accumulation spree that saw ETF inflows reach record highs.
Bitcoin price has slipped below the $105K mark as market sentiment sheds optimism.
BlackRock has broken its streak of steady Bitcoin accumulation after it deposited 4,113 BTC on Coinbase Prime. The outflow is stoking fears of a massive selloff, sending the largest cryptocurrency prices tumbling below $105K.

[cr1776]

And long before this happens there will be technical changes made to prevent it from being a catastrophe.  As above, it is legal protection by disclosing risks, nothing more.  Certainly some people are using it as FUD, but there are alt coins (e.g. ether) that are much more susceptible to quantum risks due to design choices.  They are the canary in the coal mine.

[Sonia_123]

BlackRock Offloads $130M Bitcoin & Accumulates $69M ETH
https://coingape.com/blackrock-offloads-130m-bitcoin-accumulates-69m-eth/
BlackRock shifts $561M in BTC, adds $69M in ETH as ETF inflows favor Ethereum over Bitcoin amid market rebalancing and price dip.
BlackRock moved 5,362 BTC worth $561M to Coinbase while buying 27,241 ETH.
iShares Bitcoin Trust saw $561M in ETF outflows between May 30–June 2.
Ethereum ETFs posted 11 straight days of inflows, totaling $3.12B so far.
BlackRock has shifted $130 million worth of Bitcoin while increasing its Ethereum holdings with a $69 million purchase. The movement took place between May 30 and June 2 and aligns with major outflows from BlackRock’s iShares Bitcoin Trust.

[ABCbits]

It's publicly known that ECDSA/secp256k1 cryptography used by Bitcoin isn't secure against Bitcoin QC. So i feel either BlackRock or news media decide to perform fearmonger for reason i don't know. Frankly, i would

This is a funny thread.  If it can break bitcoins encryption, it will have already long taken control of all the nukes on the planet, all the biolabs, everyone's bank accounts, etc.

In other words, we won't even notice.

FYI, Bitcoin doesn't use encryption cryptography wheres Bitcoin actually use signature and hash cryptography instead.

[john_egbert]

And long before this happens there will be technical changes made to prevent it from being a catastrophe.  As above, it is legal protection by disclosing risks, nothing more.  Certainly some people are using it as FUD, but there are alt coins (e.g. ether) that are much more susceptible to quantum risks due to design choices.  They are the canary in the coal mine.

And BTC wouldn't be a first target for such attacks, so.. There is a problem, but it's not like it's the end of the world.

[Lucius]

BlackRock, which is the first ever successful Bitcoin ETF, now holds over 275,000 Bitcoins, through its shares Bitcoin Trust (IBTT).

It wouldn't be bad if you start using some better sources, because it looks like you've woken up from a long sleep and you're quite behind on real data.

BTC BITCOIN   Alternative $70,422,200,311.10   100.00 70,422,200,311.10    660,137.61700

https://www.blackrock.com/us/individual/products/333011/ishares-bitcoin-trust

Recenyl they raised a concern that Bitcoin source code and cryptographic security could be broken, if not now but in the future by quantum computers which impose a huge risk to how large they hold Bitcoin. The concern is specifically on how fast quantum computers can advance.
~snip~

Everyone is afraid of quantum computers, but apparently very few people realize that it will be a long time before such computers are powerful enough to compromise the cryptography that protects not only BTC but everything else in digital form. I've never liked them and companies like them, especially when it's an open secret that they're there for profit and don't care 1% about BTC.

What's the next news? BR propose a BTC hard fork that will be resistant to quantum computers?

[notocactus]

Everyone is afraid of quantum computers, but apparently very few people realize that it will be a long time before such computers are powerful enough to compromise the cryptography that protects not only BTC but everything else in digital form. I've never liked them and companies like them, especially when it's an open secret that they're there for profit and don't care 1% about BTC.

What's the next news? BR propose a BTC hard fork that will be resistant to quantum computers?

If they (BR) had truly concerned about this, they would have ignored Bitcoin rather than invested their money in it and other resources for Bitcoin Spot ETF application and operations with many related products and issues later.

They know that quantum computers are threats in future (but probably not near future) so they only wanted to create fud that, in their hope, can trigger market crash. So they can take advantage of panic in the crowd and consequent market crash for buying bitcoin at cheaper price.

Frankly, if they truly worried about it, they would silently make their exit from Bitcoin market to maximize total capital they can get back.

In reality, they did oppositely than all above things, so it's not their true concern at all.