Michael Saylor says quantum threat to Bitcoin is more than 10 years away

[Oshosondy]

What do you think about this?

It was said few years ago as if quantum computer bitcoin vulnerability will be possible in few years more but only to found out that people are just postponing when the vulnerability can begin as another 10 years havr been added not only according to this news but according to what I am seeing online.

According to this news, Michael Saylor said it may take more than 10 years before the vulnerability, and that if something like it is approaching and there is any need for imminent upgrade, that prompt coordinated software upgrades across global banking systems, internet infrastructure, consumer devices, artificial intelligence networks and crypto protocols, including bitcoin.

Some people are only making people panic by constantly posting about bitcoin quantum vulnerability.

https://cointelegraph.com/news/saylor-says-quantum-threat-to-bitcoin-is-more-than-10-years-out-expects-coordinated-global-upgrade-if-risk-emerges

[BitGoba]

When slightly more powerful quantum computers appear which will certainly be at least 20 years from nowthe first things to be destroyed will be the dollar, euro, and other fiat currencies, banks, Visa, and Mastercard, long before Bitcoin because they rely on weaker cryptography.

[fikrett]

We can just sway these articles off under the rug, until the problem becomes real and there would be no solution to it..

But it will be worked through and everything will be fine. Saylor is not the first to "alarm" about it.

[Dave1]

At least Saylor has recognized that it's a threat rather than dismissing it as something like a FUD because it's going to be real in the next 4 years or so. Even the co-author of BIP-360 Ethan Heilman says that,

“Three years until it activates. This assumes two and a half years to get the BIPs done and the code reviewed and tested. Assuming everyone wants it, half a year to activate,” he tells Cointelegraph

https://magazine.cointelegraph.com/bitcoin-7-years-upgrade-post-quantum-bip-360-co-author/

So in his estimates, 7 years is enough for everyone to get ready. But I think they should really work and coordinate to be able to catch up on how quick quantum threat will be in the future.

[ColdWalletGuy]

When slightly more powerful quantum computers appear which will certainly be at least 20 years from nowthe first things to be destroyed will be the dollar, euro, and other fiat currencies, banks, Visa, and Mastercard, long before Bitcoin because they rely on weaker cryptography.

I don’t think it’s something to panic about right now. Quantum computing is still far from being able to break Bitcoin’s cryptography in any practical way.

It’s good that people are talking about it, but Bitcoin can be upgraded if needed. We’ve had years of development and improvements already. For now, it feels more like a long-term thing to watch rather than an immediate threat.

[betswift]

When slightly more powerful quantum computers appear which will certainly be at least 20 years from nowthe first things to be destroyed will be the dollar, euro, and other fiat currencies, banks, Visa, and Mastercard, long before Bitcoin because they rely on weaker cryptography.

I don’t think it’s something to panic about right now. Quantum computing is still far from being able to break Bitcoin’s cryptography in any practical way.

It’s good that people are talking about it, but Bitcoin can be upgraded if needed. We’ve had years of development and improvements already. For now, it feels more like a long-term thing to watch rather than an immediate threat.

You think why Saylor, of all peeps, is talking about it ?

Because his bags are under the line, no matter how far the risk is..

[fikrett]

At least Saylor has recognized that it's a threat rather than dismissing it as something like a FUD because it's going to be real in the next 4 years or so. Even the co-author of BIP-360 Ethan Heilman says that,

“Three years until it activates. This assumes two and a half years to get the BIPs done and the code reviewed and tested. Assuming everyone wants it, half a year to activate,” he tells Cointelegraph

https://magazine.cointelegraph.com/bitcoin-7-years-upgrade-post-quantum-bip-360-co-author/

So in his estimates, 7 years is enough for everyone to get ready. But I think they should really work and coordinate to be able to catch up on how quick quantum threat will be in the future.

When it will appear first hand, it won't be on mass scale, imo.. The quantums wouldn't be like buying a lock for a safe.. rather, the case would probably be that BTC will not be the first target of it at all! But to be prepared is to be in a peace of mind.

[internetional]

The quantum threat to Bitcoin will not become reality tomorrow, but that is not a reason to completely ignore the topic. It is important to discuss whether the ecosystem is ready for migration.

The "10+ years" timeline is calculated in an unclear way - progress in quantum computing is not linear. And the risk is not only that everything could be broken at once, but also that it could be compromised gradually, and possibly even unnoticed.

I think it makes sense to avoid address reuse and not confuse low probability with zero risk.

[goldkingcoiner]

What do you think about this?

It was said few years ago as if quantum computer bitcoin vulnerability will be possible in few years more but only to found out that people are just postponing when the vulnerability can begin as another 10 years havr been added not only according to this news but according to what I am seeing online.

According to this news, Michael Saylor said it may take more than 10 years before the vulnerability, and that if something like it is approaching and there is any need for imminent upgrade, that prompt coordinated software upgrades across global banking systems, internet infrastructure, consumer devices, artificial intelligence networks and crypto protocols, including bitcoin.

Some people are only making people panic by constantly posting about bitcoin quantum vulnerability.

https://cointelegraph.com/news/saylor-says-quantum-threat-to-bitcoin-is-more-than-10-years-out-expects-coordinated-global-upgrade-if-risk-emerges

He is not a physicist nor any other kind of scientist. Why would I care about what he has to say about topics he knows nothing about? Don't get me wrong, I have huge respect for the guy but he should stay in his lane.

Quantum computers are a pipedream.

[rat03gopoh]

the first things to be destroyed will be the dollar, euro, and other fiat currencies, banks, Visa, and Mastercard, long before Bitcoin because they rely on weaker cryptography.

Is that true?

• Is QC(s) being developed solely by amateurs, or by known companies, or by secretive corporations funded by wealthy nations?
• Is fintech the first target of attack, and are they already measuring the consequences?
• Or will the financial sector, information systems, energy, or the defense systems of certain countries be the first to be hit?
• Is the crypto industry the only financial sector without legal protection that can be attacked at will?