Bitcoin OGs Will Swallow Up Nakamoto’s Holdings If Quantum Hack Happens

 Bitcoin is now facing fresh quantum computing fears, but experts say that early wallets are safe and real threats are decades away.

Quantum computing has returned to the center of Bitcoin debate. 

Recent claims on X now show that a future machine could break early Bitcoin wallets and flood the market with old coins. This idea generated strong reactions across the crypto space. 

While supporters warn of chaos, others argue the fear misses how Bitcoin security actually works.

Quantum computing fears and Bitcoin wallet security

For starters, Quantum computing fears focus on a small group of Bitcoin addresses. 

These wallets use an early format called “pay to public” key, or P2PK and around four million BTC sit in these addresses. Most notably, Satoshi Nakamoto’s estimated one million BTC belongs to this group.

P2PK wallets show the full public key once coins move, and that detail matters. This is because a powerful quantum computer could use that public key to calculate the private key. 

In other words, classical computers (like the ones we currently have) cannot do this. But Quantum machines might be able to, one day.

On the other hand, modern Bitcoin addresses work differently and hide the public key until coins move. Without that data, even a quantum computer has nothing to attack. 

This design thus reduces risk for most users today.

Bitcoin analyst Willy Woo explained this in a recent post, and said that most Bitcoin remains safe, even in extreme scenarios. Older wallets on the other hand, create a narrow target.

Not a system wide flaw.

Claims of a Bitcoin crash and online debates

The debate gained attention after YouTuber Josh Otten shared a price chart. The image showed Bitcoin falling to $3, and Otten argued a quantum computer could steal Satoshi’s coins and sell them.

That scenario triggered pushback. Many long time holders dismissed it as unrealistic, and Willy Woo said that experienced investors (otherwise known as OGs) would be quick to buy any sharp drop. 

He added that the network would continue to function, regardless of what happens.

Market reaction matters as much as technology. This means that even if stolen coins hit exchanges, buyers will likely step in immediately.

This view shows confidence built over many years. Bitcoin has so far survived forks, bans, hacks and deep bear markets and holders expect future challenges as well.

Bitcoin OGs say quantum threats are far away

Adam Back offered one of the strongest rebuttals. Back is an early Bitcoin contributor and Blockstream co founder, and he said that quantum computers capable of breaking Bitcoin are still 20 to 40 years away.

Back stressed a common misunderstanding. Bitcoin does not rely on encryption in the usual sense. Instead it uses digital signatures where owners prove control without revealing private keys.

That difference matters because breaking digital signatures requires stable and powerful quantum systems. 

Relatee Reading: Bitcoin Faces Quantum Risk if Developers Fail by 2030

Public keys only appear when coins move

Another detail weakens the fear narrative. Public keys for many early wallets remain hidden and coins must move before the public key appears onchain.

This is important because Satoshi Nakamoto’s wallets never moved funds. That means that there are no exposed public keys for those addresses. Even a strong quantum computer would face a dead end.

Thus, no data means no attack.