Michael Saylor downplays quantum computing threat to Bitcoin

Odaily News In a recent interview with CNBC, Michael Saylor, founder of Strategy, downplayed the threat of quantum computing to Bitcoin, 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 by 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 destroy Google and Microsoft - and also the US government and banking system.
There are currently multiple proposals to study how to make Bitcoins 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, suggesting 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 Saylors point of view. A recent report from Presto Research pointed out that the crypto industry is unprepared for the upcoming quantum threat. (CoinDesk)