Bitcoin Bull Michael Saylor has minimized Conerns on the impact of Quantum Computing in Bitcoin, calling him a marketing ploy to pump quantum brand tokens.
“It is mainly marketing of people who want to sell you the next quantum to Yo-Yo,” said Strategy’s executive president in a June 6 interview at “Squawk Box”
The potential impact of Quantum Computing in Bitcoin has been labeled as a threat significantly for Bitcoin’s security.
According to the quantum computing research firm, the Eleven project, 10 million Bitcoin addresses have exposed public keys and more than 6 million bitcoin could be at risk if the machines become powerful enough to decipher the keys to Bitcoho (ECC).
But even if a legitimate threat of quantum computing arose from a technological giant, they would not release it how to do it, could their businesses and the United States government at risk said, Saylor said?
“Google and Microsoft are not going to sell a computer that decipher modern cryptography because it would destroy Google and Microsoft and the United States government and the banking system.”
Bitcoin would only need to be updated, says Saylor
If a legitimate quantum computer appeared and threatened Bitcoin’s security, protocol developers and hardware manufacturers would implement a solution, Saylor said:
“The answer is: Bitcoin network hardware update, Bitcoin network software update, as well as Microsoft, Google, the United States government update.
Saylor added that it is 10,000 times more likely that someone loses their bitcoin due to a phishing attack than to quantum computing.
“It’s the most difficult thing in the universe to hack,” Saylor said, adding: “Hat up his banking system, his Google account, his Microsoft account and any other asset that you have much before because they are a weaker order of magnitude.”
Quantum’s threat to Bitcoin is already being tested
The eleven project launched a competition in April to see who can decipher most of a bitcoin key using a quantum computer during the next year.
The Eleven project said that the purpose of the “Q-Day Award” is to try “how urgent is the threat” by Quantum to Bitcoin and find solutions to the quantum quantity proof to ensure long-term bitcoin.
IBM, Google quantum computers are still out of Bitcoin
Current estimates suggest that about 2,000 logical (corrected by error) would be sufficient to break a full 256 -bit ECCin Bitin Bitin key, said the eleven project.
IBM’s Heron Chip and Willow of Google can currently Thu 156 and 105 QBits, far from any real threat to Bitcoin, but significant enough to cause Conn, said the eleven project.
