Bitcoin Quantum Threat Debate Heats Up: Blockstream CEO Adam Back and Nic Carter Weigh In
The Bitcoin community is abuzz with a heated debate over the potential threat of quantum computing to the cryptocurrency’s security. Blockstream CEO Adam Back and Castle Island Ventures founding partner Nic Carter have found themselves at the center of the discussion, exchanging sharp words on the matter. The debate was sparked by Carter’s investment in Project Eleven, a startup focused on developing defenses against potential quantum attacks on Bitcoin and other crypto networks.
Adam Back’s Rebuttal: Bitcoin Developers Are Quietly Preparing for Quantum Risks
Back argued that the Bitcoin ecosystem is not ignoring the long-term risks posed by quantum computing. Instead, he said developers and researchers are already working on potential protections, but prefer to do so without turning the issue into a public spectacle. In his view, the discussion has become distorted by exaggeration rather than grounded technical assessment. Back tweeted, “Others are working on it, and not everyone can work on it as it’s cryptography and newer algorithms. As you may know @Blockstream research has been driving and collaborating on Bitcoin related crypto like Schnorr, MuSig, Taproot etc for years. And so it is now with PQ and others.”
Nic Carter’s Concerns: The Threat is Real, and Many Developers Remain in Denial
Carter rejected Back’s characterization, saying a significant portion of the Bitcoin community remains unwilling to seriously confront the issue. He claimed many developers are still in “total denial” about the possibility that sufficiently powerful quantum machines could, one day, undermine Bitcoin’s cryptographic foundations. Carter described himself as having been “quantum pilled” by Project Eleven CEO Alex Pruden, saying the conversations convinced him that quantum computing poses a serious, if not immediate, risk to blockchain systems.
The Broader Debate: Timelines and Risks Divide Investors
The debate extends beyond Back and Carter. Capriole Investments founder Charles Edwards recently warned that quantum computing could become a real threat to Bitcoin within two to nine years unless the network upgrades to quantum-resistant cryptography. Others remain skeptical, such as multimillionaire investor Kevin O’Leary, who has argued that using quantum machines to attack Bitcoin would be a poor use of the technology, suggesting far greater value lies in fields like medical research and artificial intelligence. Back has acknowledged the importance of preparing Bitcoin to be “quantum ready,” but maintains that practical threats remain decades away, describing the technology as still “ridiculously early” and constrained by major research hurdles.
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