Alice & Bob study estimates 29,588 qubits could break Bitcoin keys in about an hour

The story so far: Alice & Bob Bitcoin quantum threat estimate

Quantum startup Alice & Bob estimates a fault-tolerant machine with about 29,588 physical qubits could break Bitcoin's elliptic curve cryptography in roughly 62 minutes, putting about 6.9 million BTC in exposed addresses at risk. It called the findings theoretical and said the estimate is far below Google's March…

1. 29 Oct 202614:06 UTC

   Alice&Bob says 30,000-qubit machine could break a Bitcoin wallet in 62 minutes

   Quantum startup Alice&Bob says a 30,000-qubit computer could break a Bitcoin wallet's encryption in 62 minutes, and that more than six million BTC in addresses with exposed public keys could be targets, so funds should start moving. It called the findings theoretical and said the estimate is one-seventeenth of Google's March figure of 500,000 qubits.

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2. 29 Oct 202615:31 UTC

   Alice & Bob study estimates 29,588 qubits could break Bitcoin keys in about an hour

   Quantum computing firm Alice & Bob estimates a fault-tolerant machine with about 29,588 physical qubits could solve Bitcoin's 256-bit elliptic curve cryptography in roughly 61.8 minutes. The theoretical estimate, using cat qubits and improved error correction, says about 6.9m Bitcoin may be at risk where public keys are exposed.

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