Today, a quantum computing paper jointly released by Google, Ethereum Foundation, and Stanford University has caused panic again. I just read the complete original text, so what exactly is it saying? The core of this paper is a more accurate estimation of the resources required for quantum computing to crack encryption algorithms. Prior to this, it was believed that quantum computing required massive resources, making it very difficult and costly to implement. However, this paper believes that it only requires 1200 logical qubits and 90 million Toffoli gates to crack, which is far less than previous estimates. Based on the current speed of hardware development, it can be intuitively achieved in 5 to 10 years, leaving only a window of 10 years for blockchain to achieve quantum resistance. This has turned the previously unattainable concept into an objectively urgent fact. As for the threat to Bitcoin, it has been shared in the previous two tweets. If this day really comes, it will hurt but not harm the bones, because quantum computing is only valid for addresses exposed by public keys. Currently, Bitcoin's BIP360 can achieve anti quantum effects, but the prerequisite is that a wallet migration must be carried out. However, those unclaimed wallets represented by Satoshi Nakamoto cannot be migrated due to reasons such as private key loss, and they face the risk of being hacked, and these wallets account for 30% of the entire Bitcoin. Assuming that one day quantum computing is implemented, but Bitcoin is not adequately prepared, the worst-case scenario would be a 30% Bitcoin crash in the market, which can be sustained and endured. That's why it's said to hurt the muscles but not the bones. Is there any other solution? Actually, there are also, it depends on whether the Bitcoin community is willing to do so, divided into two steps: After the launch of BIP360, a global countdown announcement for wallet migration will be released, requiring everyone to complete the migration within 3 years. After the deadline is reached, the Bitcoin public chain will undergo a fork upgrade to completely lock the wallet addresses that have not been migrated. The only problem faced by this plan is the "moral shackles" of those extreme believers in Bitcoin, which means that your wallet is controlled by you. However, on the other hand, if quantum computing comes and you don't migrate quickly and wait for hackers to break through, you still have control over a chicken. So if you really want to resist quantum, there are ways to achieve it. The original link of the paper is: https://quantumai.google/static/site-assets/downloads/cryptocurrency-whitepaper.pdf