Recently, The Wall Street Journal expressed concerns about the potential threat of quantum computing to Bitcoin, calling it a 'time bomb' waiting to explode. The article discusses the risks associated with advancements in quantum computing for the security of Bitcoin and the broader blockchain industry. With the emergence of Google's Willow quantum chip, fears of possible quantum hacking have increased, and it may happen sooner than expected. The article also mentions forecasts estimating significant financial losses if such an event occurs. Despite the looming threat, experts believe there is time to address this issue by developing quantum-resistant cryptography. While the crypto industry faces challenges due to quantum computing, efforts are being made to prevent a collapse. Overall, the article highlights the need for proactive measures to protect the industry from potential quantum threats.
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