
Jakarta, Pintu News – Concerns about the potential for quantum computers to hack the keys to Bitcoin were raised again this week, with predictions that this could happen in 2028.
However, Samson Mow, a well-known Bitcoin advocate with a $1 million price prediction, dismisses such concerns. In a recent interview, Mow asserted that there are many other things to worry about than Bitcoin.
Samson Mow argues that if quantum computers do develop powerful enough to crack elliptic curve cryptography, the traditional banking system will be the first target.
According to him, these banks still use weaker encryption and have no clear upgrade path. Mow emphasized that the market focus shouldn’t just be on Tether reserves when the fractional banking model that banks use could collapse with minimal pressure.
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Furthermore, Mow states that military infrastructure and other critical systems will be the primary targets of quantum attacks before blockchains like Bitcoin. This suggests that in a worst-case scenario, damage would occur to many other critical systems before impacting Bitcoin. Therefore, the panic about quantum computers “killing” Bitcoin is overblown.
For now, quantum computers would still need thousands of logical qubits and millions of physical qubits to be able to crack Bitcoin keys, with a much lower error rate than is currently achievable. Even with favorable assumptions, there are still significant issues with processing time. Bitcoin users using P2PKH would still have enough time to move their coins before any successful access attempts.
Samson Mow emphasized that in a world that is increasingly evolving with quantum technology, Bitcoin is not a weak point. Before Bitcoin is threatened, many other systems will fail first. This gives a new perspective on potential threats to Bitcoin in the future.
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Bitcoin (BTC) is a digital currency or cryptocurrency created in 2009, using peer-to-peer technology to facilitate instant payments between users without going through a central authority or bank.
Quantum computers are considered a threat because they have the potential to break the elliptic curve cryptography used by Bitcoin to secure transactions and control access to funds.
Recent predictions suggest that quantum computers may be able to crack Bitcoin keys by 2028, but there are still many variables and technological developments that could affect this timeline.
P2PKH or Pay-to-Public-Key-Hash is one of the most common Bitcoin address formats, designed to add a layer of security by hiding the owner’s public key until a transaction is made.
Bitcoin users can update their security to protocols that are more resistant to quantum attacks and continue to monitor technological developments to take appropriate preventive measures.