A rare statement by Satoshi Nakamoto, the anonymous founder of Bitcoin (BTC), regarding the potential impact of quantum computers on Bitcoin, has resurfaced.
In a 2010 discussion on the BitcoinTalk forum, a participant with the username “llama” asked whether Bitcoin would become worthless if digital signatures were broken due to quantum computers.
In his response to this question, Satoshi Nakamoto acknowledged that such a risk, if it were to occur suddenly, could lead to serious problems. However, he stated that the system could adapt if the process progressed gradually. According to Nakamoto, the Bitcoin network can maintain its security by transitioning to new and stronger cryptographic algorithms.
Satoshi stated that if users run the updated software, their assets will be automatically resigned with a stronger signature algorithm. He explained that this process would technically be a self-administered operation for the users themselves, meaning the funds would be resent with the new secure signature.
In a statement released by Google today, it was claimed that the encryption method used by cryptocurrencies can be broken with fewer resources than previously thought.
*This is not investment advice.
