The notion that quantum computers could compromise bitcoin's security has sparked widespread concern, but recent studies indicate that the threat may be overstated. Two papers highlight the significant energy requirements for a quantum attack on bitcoin mining and demonstrate how previous quantum factoring breakthroughs can be replicated with outdated technology. One study estimates that a quantum mining attack would necessitate an enormous amount of energy, comparable to that of a star, while another shows that major quantum factoring achievements can be replicated using a 1981 VIC-20 home computer and a simple algorithm. The research suggests that the real vulnerability lies in bitcoin wallets, not mining, and that developers are working on solutions to mitigate this risk.
Despite this, the threat of quantum computing to bitcoin's security is still a concern, and experts warn that progress in this field may not always be publicly disclosed.