Key Takeaways:
- Quantum computing poses a potential threat to inactive Bitcoin wallets, particularly older address types.
- The Bitcoin community is likely to adopt quantum-resistant address standards before a significant threat emerges.
- Return of lost Bitcoin can have an impact on the behavior of markets, but the amount of the capped supply of 21 million remaining is still the same.
The crypto community is divided on this topic. This is due to the recent statements about the effects of quantum computing on Bitcoin made by Tether’s CEO Paolo Ardoino. Does this mean long-lost Bitcoin wallets could be unlocked, or is this just another overblown threat? Let’s explore further.
Tether CEO’s Prediction: Quantum Computing and Lost Bitcoin
Paolo Ardoino says that qubit computers, if they are advanced enough, can be used to breach and open the trapped and inactive Bitcoin wallets. This suggests that Bitcoin in these wallets, possibly even belonging to Satoshi Nakamoto, could be reintroduced into the market.
“Any Bitcoin in lost wallets, including Satoshi (if not alive), will be hacked and put back in circulation,” Ardoino stated in an X post.
Even though this is a future worry to be considered, it is worthy to note that Ardoino himself has stressed that the state of quantum computing is “still very far from any meaningful risk of breaking Bitcoin cryptography.” The opinion of this phrase is that there is a long period that must pass until this technological capability represents a real risk.
Prediction.
Quantum computing is still very far from any meaningful risk of breaking Bitcoin cryptography.
Quantum resistant addresses will eventually be added to Bitcoin before there is any serious threat.All people alive (and that have access to their wallets) will move…
— Paolo Ardoino 🤖🍐 (@paoloardoino) February 8, 2025
What is Quantum Computing and Why All the Hype?
Quantum computing is a revolutionary field that leverages quantum mechanics to perform complex calculations beyond the reach of classical computers. Classical computers store information as bits, which represent 0 or 1, whereas quantum computers use qubits. In the case of qubits, they might exist in a superposition of states, that is, 0, 1, or both, and quanta can represent them at the same time as well. Because of this, quantum computers can solve the hardest problems that even the world’s strongest traditional computers can’t do.
The Dual-Edged Sword: Risks and…
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