Strategy CEO Michael Saylor argues that “quantum fear” is a real possibility. uniquely strong In the case of Bitcoin. He reframed what is generally seen as an existential threat to Bitcoin as a catalyst for a massive upgrade and price increase.
bullish catalyst
Thaler argues that quantum threats won’t just suddenly appear for Bitcoin. It will be a global crisis that will affect all banks, governments, and defense contractors simultaneously. The US government, Apple, Microsoft, and major banks will all force upgrades to “quantum-resistant” encryption standards.
There will be no “block size wars” style discussions because the threat exists for everyone. He likens this to Y2K, a known deadline where everyone agrees to upgrade their software or lose everything.
“Your bank will say… please install new client software… or we will freeze your funds,” he said.
Saylor believes the Bitcoin network will do virtually the same thing. Users will need to move their coins to a new quantum-secure address.
quantum leap
The business mogul predicts that the transition to quantum-secure addresses will significantly reduce the supply of Bitcoin.
To secure your Bitcoin, you must use your old private key to sign transactions and move your coins to a new quantum-secure wallet.
If you lose your key or die without giving it to us, you will not be able to perform this migration.
When the network eventually makes the old vulnerable address unusable (or “freezes” it for safety reasons), the coins stuck there are effectively removed from the ledger forever.
If these coins cannot be migrated, the effective supply of Bitcoin will drop to 16 million.
