Is Bitcoin Facing a Quantum Threat? New Google Data Points to 2029 Deadline

So, there's some new info from Google suggesting that quantum attacks on Bitcoin are getting closer to reality. Their Quantum team mentioned that what used to require "millions of qubits" for an attack has now been lowered to under 500K qubits. Research shows that a quantum attack could potentially wrap up in just 9 minutes, while a Bitcoin block typically takes about 10 minutes to confirm. This means an attacker could theoretically pull off the attack before the transaction is even confirmed, with a success rate hitting around 41%. Google is signaling that 2029 is a crucial deadline to upgrade Bitcoin's cryptography, or else we might really face this quantum threat. In simple terms, as quantum computers get better, Bitcoin's security could be in serious jeopardy, so we need an upgrade sooner rather than later.

Old news, ref https://bitcointalk.org/index.php?topic=5550298.msg66565809#msg66565809 Und next time, how about providing links like the above did instead of just a blurb....

Here we go again with another quantum computer fud. I don't know much about quantum computers, but why does it seem like the threat is only to Bitcoin? Has Bitcoin suddenly become the most important thing in the world? Or is it the thing with the most money or the most valuable resources? Why are banks not worried about it like you guys are? Why is the stock market not worried? From my understanding of quantum computers, they can be capable of breaking the encryption of the entire internet, so why is Bitcoin the only part of the internet that should be worried? This is how I know it's not as serious as casuals make it seem. People exaggerate things a lot. Governments of different countries should be even more worried about Bitcoin or the crypto industry, because if people get hold of something that can break almost any encryption on the internet, then they should be more worried than us.

thought this was for april fools day when i first read the title lol. there has been more studies proving how quantum threat is still miles away from destroying bitcoin.

I guess if you're involved in crypto, you'll see that news more often. I'm sure I saw articles talking about the risk to other encryption-based apps, too, like password managers and whatnot. People just like to post about Bitcoin or crypto here because, well, this is a Bitcoin forum. They won't discuss how Telegram or WhatsApp improve their algorithm to be quantum resistant so eagerly here. Just like how often you see new threads talking about malware on the security forum.

If that’s the case, then it shouldn’t just be Bitcoin that needs to update its algorithm, but anything that uses cryptography, since those systems are also more vulnerable to hacking than Bitcoin... moreover, I don’t believe that quantum computers can decrypt Bitcoin’s cryptography in such a short time, there will certainly be a period before they can be fully commercialized, reliable, and capable of posing a threat, and I think that might take longer than what they’re saying.

That wasn’t any kind of Google report, but a paid advertisement funded by scammers, the owners and founders of Ethereum, the Ethereum Foundation, and people connected to them. Matthew Kratter published a video yesterday exposing everything https://www.youtube.com/watch?v=m-7M07H27ew