Michael Saylor, executive chairman of MicroStrategy, has dismissed fears that quantum computing poses an imminent threat to Bitcoin’s security, calling such concerns largely marketing tactics.
He emphasized that even if a powerful quantum computer capable of breaking Bitcoin’s cryptography were developed, it would not be publicly released due to the catastrophic risks it would pose to global technology and financial systems.
According to COINOTAG, Saylor stated, “Google and Microsoft aren’t going to sell you a computer that cracks modern cryptography because it would destroy Google and Microsoft and the US Government and the banking system.”
Michael Saylor downplays quantum computing threats to Bitcoin, highlighting software upgrades and the improbability of quantum attacks disrupting crypto security.
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Michael Saylor reassured the crypto community that Bitcoin’s infrastructure is adaptable enough to counteract any future quantum computing threats. He explained that if quantum computers capable of compromising Bitcoin’s elliptic curve cryptography (ECC) emerge, the solution lies in timely network hardware and software upgrades. This approach mirrors how major tech companies and governments routinely update their systems to address emerging vulnerabilities. Saylor’s perspective underscores Bitcoin’s inherent flexibility and the proactive nature of its developer community, ensuring the protocol remains robust against evolving technological challenges.
Despite the theoretical risks quantum computing poses to Bitcoin’s cryptographic security, current quantum machines remain far from capable of such feats. Project Eleven, a quantum computing research firm, highlights that breaking a 256-bit ECC Bitcoin key would require approximately 2,000 logical qubits with error correction. Presently, IBM’s Heron chip and Google’s Willow processor operate with only 156 and 105 qubits respectively, indicating a substantial gap before quantum computers can threaten Bitcoin. This reality challenges sensationalized narratives and emphasizes the importance of measured, evidence-based discourse in the crypto space.
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Source: https://en.coinotag.com/michael-saylor-suggests-bitcoin-could-be-upgraded-if-quantum-computing-poses-future-risks/