The notion that quantum computers can easily breach Bitcoin's security has been a topic of concern in recent years. However, recent studies suggest that the energy requirements for such an attack are astronomically high, making it virtually impossible.
Two papers highlight the challenges of using quantum computers to attack the Bitcoin network, with one estimating that a quantum mining operation would need an enormous amount of energy, comparable to that of a star. Another paper debunks the idea that quantum computers have made significant progress in factoring, a crucial component of encryption, by demonstrating that previous breakthroughs were often achieved using rigged numbers or classical preprocessing. While the threat of quantum computers to Bitcoin's security is real, it is primarily focused on wallet security rather than mining. Developers are already working on solutions to mitigate this risk, including reducing key exposure and implementing quantum-resistant signatures.
The market reflects a view that the threat is still largely theoretical, with traders assigning higher odds to upgrades aimed at reducing wallet risk.