Bitmine's Tom Lee Warns Bitcoin Has No Quantum Computing Defense Plan Until 2028
Tom Li of Bitmine warns that Bitcoin has no plan to defend against quantum computing before 2028. As quantum machines may break widely used cryptographic systems by this "Q-day," Li notes a lack of consensus in the Bitcoin network on how to prevent it. In contrast, other blockchains like Ethereum, Solana, and Canton are already developing quantum-resistant systems. Li's comments came amid a wider discussion on cryptocurrencies diverging from Nasdaq trends.
The concern echoes IBM CEO Arvind Krishna's warning to CNBC's Jim Cramer to be cautious within the next three to four years, which led Cramer to sell his Bitcoin holdings. Li expanded the warning to banks, financial infrastructure, and government systems, noting AI and quantum tools could accelerate vulnerability discovery.
Bitcoin developers pushed back, with Blockstream co-founder Adam Back clarifying that Bitcoin relies on digital signatures, not encryption for transactions, though quantum computers could still threaten certain cryptographic keys. Bitgo CEO Mike Belshe promoted the company's quantum-resistant custody services.
The Bitcoin community is exploring upgrades like BIP-360 and addressing vulnerabilities in older wallets. However, any significant change requires broad consensus among developers, miners, companies, and users. The immediate threat remains debatable, but market reactions suggest quantum readiness is now a pressing issue. For Bitcoin, the bigger challenge may be reaching consensus before investors decide time is running out.
cryptonews.ru08/07 09:09