🖥After the hype on the topic a new powerful quantum computer from Google, billionaire Chamath sets the record straight:

Quantum computing will pose a risk to cryptographic approaches v1. The time frame is very unclear and it is not in the near future. But if I held a lot of BTC, then within RM I would assume that this could happen.

Any potential risk to Bitcoin can now be eliminated through forks that implement quantum-resistant cryptography for new transactions. However, this cannot retroactively protect already exposed public keys.

Funds on old p2pk addresses with exposed public keys will remain vulnerable to and targeted by quantum computing attacks on ECDSA.

Here is a useful table for assessing this risk, as well as a post by Satoshi himself in 2010 in which he discusses what to do if SHA 256 is compromised.

Microsoft and Atom Computing too will launch commercial quantum computer next year.