Has the end of cryptocurrencies arrived? Investors were scared for no reason
After Google announced the quantum computer 'Willow', the Bitcoin market panicked, and Bitcoin recorded its largest daily drop of the month, with a large number of investors liquidating their positions.
Some say that the end of Bitcoin has come, that it will be worth nothing. Ren Zhengfei also shares this opinion.
In fact, people are overly worried.
Professionals in the blockchain field respond: Willow currently cannot pose a substantial threat to Bitcoin. Musk seems to agree with this statement.
Although the Willow quantum chip has made significant advancements, it still does not have the necessary scale or error correction capability to decrypt Bitcoin's encryption algorithm.
The cryptocurrency community has already considered the threat of quantum computing, proposing various response strategies. For instance, increasing security measures for early Bitcoin transactions, or developing quantum-resistant encryption algorithms to replace existing encryption methods. Recently, in the Meme project, Musk Marvin's concept (7055) has garnered significant attention in the market, with a low market capitalization, and the community is active, so it can be followed for more information.
