tech
Will Bitcoin become meaningless in 2029 due to these machines? Google issues dark warning
Google has published new research that has frightened many cryptocurrency owners around the world. Their expert team claims that new quantum computers can break Bitcoin's security in just nine minutes under ideal conditions. This is a huge change from previous estimates as the machines have become much more powerful and faster than previously thought.
TL;DR
- New quantum computers can potentially break Bitcoin's security in nine minutes.
- This is faster than a typical Bitcoin transaction confirmation, allowing for private key calculation and fund theft.
- The probability of a successful hack is estimated at 41%.
- Older wallets with publicly exposed keys are at high risk, including potentially Satoshi Nakamoto's Bitcoin.
- Google estimates 'quantum day' will be in 2029, when current security becomes obsolete.
- Banking systems and social media accounts are also at risk before cryptocurrencies.
- Urgent transition to quantum-resistant security systems is needed for the entire internet infrastructure.