Top cryptographers clash over Bitcoin's quantum threat timeline

A Coinbase-convened advisory board of some of the world's most prominent cryptographers has released a report detailing what Bitcoin should do about the millions of coins a future quantum computer could steal, but on the hardest question — when that threat will materialize — the group refuses to answer.

The board, which shared the report with CoinDesk earlier this week, includes Scott Aaronson of the University of Texas at Austin, Dan Boneh of Stanford, and Justin Drake of the Ethereum Foundation. Its starting point is that quantum computers are not a threat to blockchains today and that nobody knows when they will be, so the debate should not wait on a timeline. The exposure is concentrated in Bitcoin, with about 1.7 million bitcoin sitting in addresses vulnerable to quantum attacks.

For cryptocurrency traders, this report underscores a long-term risk that could reshape the security assumptions of Bitcoin and other proof-of-work networks. While the threat is not imminent, the lack of consensus on a timeline means that market participants should monitor developments in quantum computing closely. Any credible breakthrough could trigger a reassessment of Bitcoin's risk profile, potentially impacting its price. For real-time price updates on Bitcoin and other digital assets, traders can check NowPrice's live crypto quotes.

Looking ahead, the report recommends that Bitcoin begin preparing for a quantum-resistant upgrade, though it does not specify a deadline. The crypto community will likely debate the urgency of such a transition, with some arguing for proactive measures and others preferring to wait for clearer signs of quantum progress. Key data points to watch include advancements in quantum computing hardware and any formal proposals for Bitcoin's post-quantum cryptography.