Jameson Lopp Slams Quantum Recovery: A Threat to Bitcoin?

Jameson Lopp Slams Quantum Recovery: Crypto Exec Argues Against Quantum Unlocking!

Chief security officer Jameson Lopp of the Bitcoin custody firm Casa recently argued against permitting the quantum recovery of lost Bitcoin, stating that burning these coins to preserve the protocol’s integrity was the better course of action. Lopp claims that it is against the censorship resistance, transaction immutability, and conservatism of the Bitcoin network to permit people or organizations with quantum computers to retrieve misplaced Bitcoin.

Accordingly, the crypto CEO stated in a post published on March 16 that permitting quantum recovery is bad for everyone. The executive said that quantum recovery can only compromise the Bitcoin network’s security.

Allowing quantum recovery of bitcoin is tantamount to wealth redistribution. What we would be allowing is for bitcoin to be redistributed from those who are ignorant of quantum computers to those who have won the technological race to acquire quantum computers. It is hard to see a bright side to that scenario,

Lopp

Can Quantum Computers Crack Bitcoin? Experts Remain Divided

There is still much disagreement about whether quantum computers constitute a threat to Bitcoin. Some contend that quantum computers will never be useful, while others warn that the threat to contemporary encryption is already present and will only materialize in the next decades.

Researchers at Shanghai University asserted in October 2024 that they used a quantum computer to crack encryption standards used in banking and military applications. Nevertheless, YouTuber “Mental Outlaw” subsequently claimed that the researchers did not violate contemporary encryption standards and that these allegations were exaggerated. According to the YouTuber, the research team’s quantum computer set a new record for quantum computing but still fell short of some classical computers because it could only factorize the integer 2,269,753.

For more up-to-date crypto news, you can follow Crypto Data Space.