An exchange holding about 5% of all Bitcoin has suddenly issued a warning: quantum computers could empty your wallet before you know it 🦖
🧭 群里聊方向
Google researchers previously estimated that a quantum computer capable of breaking Bitcoin’s encryption—what’s known as a cryptographically relevant quantum computer—could appear as early as around 2029 ⚠️
This isn’t science fiction. Bitcoin wallet security is built on two digital signature schemes, ECDSA and Schnorr. Today’s computers can’t crack them, but once quantum computing crosses a certain threshold, attackers could work backward from public keys to derive private keys and transfer the Bitcoin in those wallets straight out.
This week, an exchange that custodies about 5% of all Bitcoin—nearly a million coins—for banks, asset managers, and hedge funds published a blog post with a blunt conclusion: preparations for a post-quantum upgrade must begin now. The reason is sobering: Bitcoin changes slowly. Consensus changes and ecosystem migrations can take years, so we can’t wait until the day quantum computers are publicly announced before taking action 🔐
Its proposal is quite specific: separate the signature container from the signature itself, so the transaction format can directly accommodate new post-quantum signatures. For now, BIP-360 and P2TRv2 appear to be the best options. It also suggests phased protection, allowing active wallets to first adopt a two-lock structure for each coin, where both traditional and post-quantum signatures can authorize spending. That way, no one has to switch everything over at once.
The biggest headache is wallets that have been inactive for a long time—or whose private keys have been lost. The blog warns that once quantum computing reaches the necessary level, coins in these dormant addresses could be quietly swept away before the public notices. How to deal with them is highly contentious, so it recommends discussing them separately rather than holding up the overall upgrade.
My take: the point isn’t that quantum computers are coming tomorrow. It’s that a market worth about $1.3 trillion is being forced, for the first time, to face an adversary it must start preparing for years in advance. Bitcoin has always relied on the community slowly working toward consensus. This time, moving slowly could itself be a risk.
Do you think we should protect old wallets first, or add locks to new wallets first? Let’s talk in the comments 👀
Every day, I bring you the latest from the crypto world—not just what’s happening, but the logic and opportunities behind the headlines 👀🚀
🧭 群里聊方向
Google researchers previously estimated that a quantum computer capable of breaking Bitcoin’s encryption—what’s known as a cryptographically relevant quantum computer—could appear as early as around 2029 ⚠️
This isn’t science fiction. Bitcoin wallet security is built on two digital signature schemes, ECDSA and Schnorr. Today’s computers can’t crack them, but once quantum computing crosses a certain threshold, attackers could work backward from public keys to derive private keys and transfer the Bitcoin in those wallets straight out.
This week, an exchange that custodies about 5% of all Bitcoin—nearly a million coins—for banks, asset managers, and hedge funds published a blog post with a blunt conclusion: preparations for a post-quantum upgrade must begin now. The reason is sobering: Bitcoin changes slowly. Consensus changes and ecosystem migrations can take years, so we can’t wait until the day quantum computers are publicly announced before taking action 🔐
Its proposal is quite specific: separate the signature container from the signature itself, so the transaction format can directly accommodate new post-quantum signatures. For now, BIP-360 and P2TRv2 appear to be the best options. It also suggests phased protection, allowing active wallets to first adopt a two-lock structure for each coin, where both traditional and post-quantum signatures can authorize spending. That way, no one has to switch everything over at once.
The biggest headache is wallets that have been inactive for a long time—or whose private keys have been lost. The blog warns that once quantum computing reaches the necessary level, coins in these dormant addresses could be quietly swept away before the public notices. How to deal with them is highly contentious, so it recommends discussing them separately rather than holding up the overall upgrade.
My take: the point isn’t that quantum computers are coming tomorrow. It’s that a market worth about $1.3 trillion is being forced, for the first time, to face an adversary it must start preparing for years in advance. Bitcoin has always relied on the community slowly working toward consensus. This time, moving slowly could itself be a risk.
Do you think we should protect old wallets first, or add locks to new wallets first? Let’s talk in the comments 👀
Every day, I bring you the latest from the crypto world—not just what’s happening, but the logic and opportunities behind the headlines 👀🚀