A growing group of Bitcoin
Their concern is that the possibility of a future “quantum threat” might become a financial risk even before it becomes technically real.
This has put the spotlight on a draft improvement proposal, BIP‑360, which would allow Bitcoin addresses to use post‑quantum signatures alongside current setups.
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Charles Edwards, founder of the quantitative Bitcoin and digital asset fund Capriole, emphasized the need for agreement among hardware wallet providers, node operators, and exchanges.
He warned that if action is not taken, “20‑30% of Bitcoin will be taken by a quantum hacker in the next few years.” He added that coins not updated by BIP‑360 should be “burned” by 2028.
Adam Back, co‑founder and CEO of Blockstream, dismissed the scare around the impacts of quantum computing, stating that Bitcoin “does not use encryption” and that the real threat remains “decades away.”
Samson Mow, CEO of Bitcoin technology firm Jan3, noted that quantum computers “can’t even factor 21”. Yet, people are panicking over fears that the technology will destroy Bitcoin.
The use of the Taproot address format in Bitcoin is declining, from 42% of transactions in 2024 to just 20%. Analyst Willy Woo stated that he had “never seen the latest format lose adoption before” and contrasted Taproot’s quantum fragility with the relative safety of SegWit and Legacy formats.
Recently, Woo shared an idea for protecting Bitcoin against potential future threats posed by quantum computers. What did he say? Read the full story.
