Community Debates Market Impact and Long-Term Network Resilience
A renewed debate has emerged within the crypto community over the theoretical risk of quantum computers hacking early Bitcoin wallets, including the estimated 1 million BTC attributed to Satoshi Nakamoto. The discussion centers on whether such an event could destabilize Bitcoin markets or instead trigger a rapid recovery driven by long-term holders.
Market analyst Willy Woo argues that even in an extreme scenario where a quantum-capable attacker gains access to Satoshi-era coins and attempts to sell them, early Bitcoin adopters and institutional holders would likely absorb the supply. According to this view, a sharp price drop would be met with aggressive buying rather than systemic collapse.
The concern stems from older pay-to-public-key (P2PK) addresses, which expose full public keys on-chain once funds are spent. Roughly 4 million BTC are believed to reside in such addresses, making them theoretically vulnerable if quantum computing advances far beyond current capabilities. Modern Bitcoin address formats reduce this risk by keeping public keys hidden until transactions are finalized.
While some critics claim quantum computing represents an existential threat, others point out that practical quantum attacks remain decades away. Existing post-quantum cryptography standards could be integrated well before the risk becomes real.
The broader consensus remains that Bitcoin’s network resilience, decentralized ownership, and adaptive development would allow it to survive even a highly disruptive technological shock.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.