Michael Saylor downplays quantum computing threat to Bitcoin

Odaily Planet Daily News Strategy founder Michael Saylor recently downplayed the threat of quantum computing to Bitcoin in an interview with CNBC, arguing that when the threat is imminent, the Bitcoin protocol can respond to potential risks through software upgrades. He said: "This is mainly a marketing trick for those who want to sell you the next quantum concept token. Google and Microsoft will not sell computers that can crack modern encryption technology because it will ruin Google and Microsoft - and also ruin the US government and banking system." There are currently multiple schemes to study how to make Bitcoin Proof of Work (PoW) resistant to quantum attacks, including quantum-resistant encryption hardware developed by startups such as BTQ. A Bitcoin developer has submitted a BIP to suggest that wallet addresses be migrated to quantum-safe addresses through a hard fork. Saylor emphasized that the Bitcoin protocol is upgraded every year, and the greater security threat comes from phishing attacks. Saylor concluded: "Bitcoin is a protocol; its software is upgraded every year." He also believes that the biggest security threat facing Bitcoin is phishing. However, not everyone agrees with Saylor. A recent report from Presto Research pointed out that the encryption industry is "unprepared" for the upcoming quantum threat. (CoinDesk)