Who then is buying Bitcoin for the next leg up?

[Lontor]

Vitalik Buterin came out to drop his own version of Fear Factory on Bitcoin investors.
I'm sorry I going to have to call it a FUD.

By the time quantum computer hits Bitcoin,

Health care, hospitals, transportation, security systems, banks and logistics would be the first victims of Quantum computer, they would have been hit long before Bitcoin gets touched.

I don't know about the past but today, the whole world depends on cryptography.
Yet, some people just decide to FUD Bitcoin as if Bitcoin is the only thing exposed to Quantum threat.

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

[Luzin]

I don't know about the past but today, the whole world depends on cryptography.
Yet, some people just decide to FUD Bitcoin as if Bitcoin is the only thing exposed to Quantum threat.

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

They understand how to play the psychology of new investors. So maybe they are trying to take the opportunity to seek profit through cheaper purchases so they can accumulate more Bitcoin. There are always two sides in trading: sellers and buyers, and there are always two predictions and two actions taken. It's just that they will have one mistake that could benefit someone else.

Who will buy? Investors already understand the market conditions and the cycle of how Bitcoin moves. Don't worry, I think as long as there is still trust in Bitcoin, new buyers will always come. Institutions and various large companies have added additional confidence, so I think Bitcoin will still have a special value that may become increasingly difficult to predict. IMO

[davis196]

Any link to the source of information?
Why Buterin has to spread FUD around Bitcoin only? Is Ethereum quantum-resistant? I'm sure that Ethereum would be as vulnerable to quantum attacks as Bitcoin. Anyway, quantum computers are a potential threat, that may or may not become truth in the next few years. AI is the real current threat and nobody is talking about how to reduce the amount of upcoming AI hacks and scams, that will keep causing damages to the crypto industry from now on.

[cryptoaddictchie]

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

Sometimes users or so called traders are just banking on this kind of news. Lets admit it, it kinda helps them with their position on trading as more volatile the market is the bigger the profits they can earned. But when we talk about whose gonna be interested to buy for this down trend movement?

Obviously the bigger fish or institutions who keeps accumulating bitcoin. The concern about quantum computing is an old fashioned fud for btc and keeps using the narrative eversince.

[In_cu_bent]

By the time quantum computer hits Bitcoin,

Health care, hospitals, transportation, security systems, banks and logistics would be the first victims of Quantum computer, they would have been hit long before Bitcoin gets touched.

You forgotten to mention the energy sector too.

I don't know about the past but today, the whole world depends on cryptography.
Yet, some people just decide to FUD Bitcoin as if Bitcoin is the only thing exposed to Quantum threat.

Bitcoin is their biggest nightmare, they never imagined that level of technology where they have no control over it, hence the reason for the continuous FUD.

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

Anything that affects bitcoin will of course affect the world, there's no escape route. Quantum computing is a threat to the global economy. If you think it's only a threat to bitcoin then you should think again.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

Those that wants to remain slaves to the fiat currency sold while those that wants financial freedom are buying and holding

[Karl_3000]

Vitalik Buterin came out to drop his own version of Fear Factory on Bitcoin investors.
I'm sorry I going to have to call it a FUD.

He did not mention only bitcoin, he also mentioned ethereum. He is one of the co-founders of ethereum. He also did not say quantum computers are the first threats, he is talking about AI. That AI can weekend cryptography before quantum computers.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

I will continue to buy bitcoin.

[Somegory]

I don't think that Vitalik is spreading FUD, he is actually talking about the dangers that AI are capable of for the Blockchain projects, including ETH too, he said Even AI threat is bigger enough,  that they can jailbreak some crypto wallet if not created well.

He was comparing it to how gigantic the quantum threat would be compare to what AI is capable right now, he is not actually already FUD but I understand why some people would see it as a FUD.

I saw the post on X but I read and ignore because I don't feel like creating any topic because of it, we have seen similar things already so it will slowly disappear even if many sees it as FUD.

[Ruttoshi]

Bitcoin devs aren't sleeping and they are aware about the threat which I know that they are working towards it. I believe that Satoshi also had this in mind and set up a network can can overcome QC threats in future. However, QC hasn't been built yet so worry less and continue stacking more sats for the future. Every investment/asset has one future  threat or the other and it's for us human to deal with it and overcome it.

Quantum is the FUD claim that comes up most often after fiat-debasement and energy. Most of the noise is either doom ("quantum breaks Bitcoin tomorrow") or dismissal ("decades away, ignore it"). Both are wrong. The honest version is more interesting and more useful: the threat is real, the timeline is slow, the fix is governance, and Bitcoin has agency. That last word matters. The system was designed to evolve under exactly this kind of constraint.

https://www.learnbitcoin.com/rabbit-hole/quantum-and-bitcoin

[boyptc]

FUD will never be gone and they're becoming more intense with the reasoning of quantum computers. I've heard the same FUD in the past which also brought fear.

But as I can see, every time there are these FUD and challenges that people applies to bitcoin it always survives and pass through that.

Every time!

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

You're right that it's not only for bitcoin but for the other sectors too. I can't blame those who always panic when they read these news.

They haven't seen how bitcoin did in the past where there were so much fud that were said about it.

[AprilioMP]

Technically speaking, I don’t think I have an answer that will satisfy what you’re hoping to hear, but based on my understanding, there are still many pure investors who enter the market to buy with the goal of long-term investment, even though their purchases aren’t on the same scale as those of large investors.
It is these investors—who regularly buy with the goal of long-term investment to preserve value—who deserve respect, because they focus solely on their investments without getting caught up in the drama of market players.

[bitLeap]

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

I don't know why people are so paranoid when faced with quantum computers that have the potential to attack bitcoin and others. As if this creates an end for the finances as a whole. Will those who run or engage quantum computers when attacking bitcoin be safe?

I wonder that people like Vitalik continue to be made gods of every utterance. I know he's smart but is his cleverness really enough to make the crypto world crumble?

If you ask me who will buy it? of course I bought it.
Selling pressure caused prices to plummet due to the FUD? no problem I will still buy it.

[OsaiEmma]

Vitalik Buterin came out to drop his own version of Fear Factory on Bitcoin investors.
I'm sorry I going to have to call it a FUD.

By the time quantum computer hits Bitcoin,

Health care, hospitals, transportation, security systems, banks and logistics would be the first victims of Quantum computer, they would have been hit long before Bitcoin gets touched.

I don't know about the past but today, the whole world depends on cryptography.
Yet, some people just decide to FUD Bitcoin as if Bitcoin is the only thing exposed to Quantum threat.

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

Bitcoin thrive with speculation, so yeah, they'll want to talk about it unlike the other sectors you mentioned. And yes, quantum computing is a global thing, since it tends to attack cryptographic vulnerability in system—this will cause massive panic indeed—but I believe the world and Bitcoin as well will certainly adjust and transition parallelly with the new change.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

Traders of course. Since most traders are anticipating the bull run season based on the "cycle", this will certainly trigger a bullish sentiment when the time comes. And honestly, I don't think most people are that threatened by the quantum computing FUD since the Bitcoin devs are working towards it already; although, I believe most are still a bit cautious.

[Josefjix]

Why other sector?
I thought quantum attack are only for cryptographic sector, why health and others as well. Are you saying any sector that are integrated with blockchain technology are liable to be affected?

Do you think Bitcoin developers will going to sit and watch quantum computers destroy Bitcoin and not do anything about it?

I think topics like this as a joke because pre information about quantum destroying cryptographic industry must also trigger pre resistance to such attacks in the future.

[SatsPH]

Yes in recent days, there has been spike of FUD again including coming from Vitalik and Ethereum Researcher Says AI May Break Encryption Before Quantum Does.

Of course, there is a valid concern, but I do think that we can all adjust before it can actually happened.

And I don't know the reasons for the recent spat specially coming from ETH themselves.

[Lida93]

For all i know, various concerns about  quantum computing and the dangers it can have on bitcoin has being a topic for more than a decade now. i have read lot of similar topics expressing these fears as yours in this op about bitcoin but least did they ever made it look like its actually a general threat to many systems security aside bitcoin.

I found out a post of 2012 during a random search days by on old forum topics that may interest me to read and, i found this thread about an article that expresses the fears that quantum computers could make double spending of bitcoin possible when it eventually enters the market. Little do most people and articles talk about the dangers to other sectors of the economy but rather trying to pass the message as though quantum computer are developed for bitcoin destruction.

[Dr.Bitcoin_Strange]

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

There's no way anyone can know the exact number of person that sold their Bitcoin because of fear of quantum computer threat, but obviously, most individuals that doesn't gather enough information on their own have sold their coins because they fear losing it, most of us here on the forum are well informed that developers are already working on how to defend Bitcoin from such attacks and so there's no much panic among people here,  I am still buying Bitcoin and I know I am safe.

[aoluain]

Vitalik Buterin is not going to influence anyone who believes in Bitcoin and who is already
availed of its benefits. He can definitely preach to his ERC-20 group or people who are on
the fence about Bitcoin.

Let's think about it carefully, This is a Global Threat, it's never a Bitcoin only thing.

Of course but not everyone can see that especially when another person of influence is only
preaching about one topic.

My question now is how many weak hands have panic sold and who is buying Bitcoin for the next leg up?

Pretty much all the panic sellers have already cleared out and anyone left is already making their
buy orders and stacking because we are all expecting the next leg of the cycle to kick into action!

[PERtua]

I think what matters is not who is acquiring Bitcoin in a bear market, it's whether the investors are aware of what the quantum threat is. While quantum computing may impact numerous systems that depend on cryptography, the risks to Bitcoin will rely generally on its unique schemes and follow upgrades. Taking every warning as FUD, could be as inefficient as thinking that the Bitcoin is doomed. The salient question is whether developers can get ready for a technology that is a viable threat.

[Swordsoffreedom]

Any link to the source of information?
Why Buterin has to spread FUD around Bitcoin only? Is Ethereum quantum-resistant? I'm sure that Ethereum would be as vulnerable to quantum attacks as Bitcoin. Anyway, quantum computers are a potential threat, that may or may not become truth in the next few years. AI is the real current threat and nobody is talking about how to reduce the amount of upcoming AI hacks and scams, that will keep causing damages to the crypto industry from now on.

This might be the news OP was referring to.
But Vitalik wasn't talking about quantum computing at all. He was talking about the risks AI could pose, and not just to BTC but to the crypto industry as a whole.

His point is that crypto needs to take those potential AI risks seriously and prepare for them. He wasn't claiming that current cryptography has already been cracked, or that it's definitely going to happen anytime soon. So, there's no FUD here, imo. He's just flagging a potential threat and urging the industry to get ahead of it.

[Btcdeybodi]

OP, Vitalik Buterin is trying to let us know that quantum computing is not the only threat we are likely to face in the crypto industry but also AI-vulnerable cryptography. Except there is another post where he specifically talked about quantum computing, maybe you can share if there is.

Why other sector?
I thought quantum attack are only for cryptographic sector, why health and others as well. Are you saying any sector that are integrated with blockchain technology are liable to be affected?

Quantum systems goes beyond cryptographic sector and of course the health sector can face quantum attacks because of its high level of accuracy and precision in pathology and medicine. The Blockchain technology isn't exempted from attacks. Perhaps, the Blockchain technology is made up of cryptographic components so yeah it's gonna be critically affected by a quantum attack.

Do you think Bitcoin developers will going to sit and watch quantum computers destroy Bitcoin and not do anything about it?

I think topics like this as a joke because pre information about quantum destroying cryptographic industry must also trigger pre resistance to such attacks in the future.

NO, Bitcoin devs are not relenting, they are also researching on a counter-attack mechanisms which is why the industry is preparing quantum-resistant algorithms.

I'm just sick and tired of this whole quantum computers FUD against the crypto industry.