Analyst: Bitcoin's decentralization will be a liability in the quantum computing era

Jamie Coutts, a crypto market analyst at Real Vision, stated on X that he has changed his view on the threat quantum computing poses to Bitcoin, which he previously dismissed as far-fetched. He noted that while many crypto investors argue that quantum computing would endanger the entire financial system, not just Bitcoin, large banks are already investing heavily in research and development to prepare for it. In contrast, Coutts argued that Bitcoin is different. Although technical upgrades are possible, they require a slow and complex process across the decentralized network. He explained that there is no risk assessment committee, authorized entity, or designated leader to spearhead such upgrades. Coutts concluded that while the timeline for quantum computing's realization is uncertain, its impact will be immense, and the primary risk for decentralized systems is the difficulty in responding adequately to such threats in their early stages.