Recently, the effects of developing quantum computer technologies on Bitcoin security have been discussed in the cryptocurrency market. Ki Young Ju, founder of CryptoQuant, which provides data analytics solutions in this field, points out that powerful quantum computers may threaten millions of coins held in Bitcoin wallets in the future. It is also stated that approximately 1 million BTC attributed to Bitcoin founder Satoshi Nakamoto may be at risk.
Current Security Model and Quantum Threat
The Bitcoin network has an encryption structure that is impossible to break with classical computers. However, it is stated that if quantum computers become widespread, private keys can be obtained only from the public keys of Bitcoin addresses. This raises the possibility that addresses that seem safe today may become externally expendable in the future.
According to the data, it is stated that approximately 6.89 million BTC is vulnerable to quantum threats in the long term. The public keys of 1.91 million of them are clearly visible, while the rest were exposed during previous transactions. It is known that addresses with old transaction history are especially at greater risk.
Sleeping Coins and Community Dynamics
The issue of inactive coins is also at the center of discussions among investors. There are approximately 3.4 million BTC that have not moved for over a decade; This amount includes the assets estimated to be in Satoshi Nakamoto’s wallet. Compared to their market values, they appear to have a very high financial size. It is emphasized that the development of quantum computers may create an attractive target for these passive coins.
Although Ki Young Ju states that protective measures may be technically possible, he highlights the slowness of decision-making processes and the difficulty of social consensus in the Bitcoin community. It is known that contentious processes, such as the previous block size debate, lasted for years and ultimately led to forks in the network.
It is said that if network updates and address freezing come to the fore, the community may not be keen on such solutions, as the basic principles of Bitcoin would have to be compromised. In particular, freezing old addresses may be considered contrary to the network philosophy based on opposition to the center.
Security Concerns in On-Chain Data
Although Bitcoin’s price appears stable, on-chain data in the network points to some weaknesses. There is a serious slowdown, especially in the Inter-Exchange Flow Pulse (IFP) indicator, which measures the transfer flow between exchanges. This situation can camouflage deep liquidity problems in the Bitcoin ecosystem and makes some vulnerabilities in the system visible.
Experts point out that developers and the community need to take early action against these new risks faced by Bitcoin. It is emphasized that the steps they take will be important in determining both the protection of digital assets and the continuity of the basic principles of the network.
