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Should quantum computing be a cause for concern as a threat to Bitcoin?

Satoshi had already thought of that:

🗓 In a discussion on BitcoinTalk in 2010, Satoshi Nakamoto anticipated how Bitcoin could defend itself against quantum threats: the protocol does not rely on a fixed algorithm, but rather on the network’s ability to update its consensus when necessary.

🔐 Satoshi explained that, in the face of a gradual threat, users could automatically migrate their funds by running a new version of the software that re-secures everything with a stronger algorithm.

⛓️ Furthermore, if SHA-256 were to be completely broken, the community would agree on the honest point in the chain prior to the problem and continue with a new hash function via a coordinated hard fork.

⚠️ Satoshi’s approach is based on the assumption that the quantum threat will be gradual, giving the decentralized network sufficient time to coordinate the technical and social transition without collapsing.

📉 Foreign central banks reduced their holdings of U.S. Treasury bonds to $2.7 trillion, the lowest level since 2012.

💵 These institutions have sold $82 billion worth of bonds since late February, amid rising oil prices due to the conflict in Iran.