In the latest recording, Phil Konieczny calmly and humorously explains why Bitcoin will not fall due to quantum computers. At the same time, he shows that the fear of this technology often arises from a lack of understanding of the basics. Moreover, his arguments resonate with both beginners and experienced investors.
The cryptocurrency market regularly faces new narratives, but not every one of them has real significance for the future.
The absurdity of the argument about the end of Bitcoin due to quantum computers
Phil Konieczny begins his response with irony, as he wants to expose the illogical nature of the popular argument. He points out that if quantum computers destroy Bitcoin, they will also destroy the entire digital world. In such a situation, banks, the internet, and the traditional stock market would stop functioning. Therefore, this argument, in his opinion, does not hold basic logic.
“Looking at it from this perspective, then everything will be over. Our internet, banks, and traditional stock market will be over. So looking at it this way, people shouldn't use anything, because it all could be over. When someone gives the argument that it's not worth investing in Bitcoin because if a quantum computer comes, it will destroy Bitcoin – well, that person could have said that it's not worth having a bank account, because if a quantum computer comes, it will hack our money. Similarly, it's not worth investing in the traditional stock market, because money in the traditional stock market could also disappear. In fact, the stock market could also be hacked.”
After this quote, Phil goes on to further explanation in a calmer tone. He emphasizes that the fear of quantum threats selectively applies only to cryptocurrencies. Meanwhile, the entire financial system is based on similar cryptography. Therefore, an attack on Bitcoin would mean global chaos.
It is worth asking a simple question: would anyone intentionally destroy the foundations of the modern economy? According to Phil, such a vision sounds more like a science fiction film. For this reason, he considers this argument to be a purely theoretical scare tactic.
Bitcoin and resistance to quantum threats
In the next part, Phil Konieczny gets into technical specifics. He explains that the quantum threat is not a novelty. The world of cryptography has been discussing it for many years. Therefore, solutions for quantum resistance are being developed in parallel.
Phil explains that there are already cryptocurrencies today that are resistant to quantum computers. In the case of Bitcoin, a fork is possible, meaning a change in the protocol. Such a mechanism allows the network to adapt to new technological conditions. Importantly, Bitcoin has repeatedly proven that it can adapt.
To simplify the topic, it's worth looking at it step by step:
The quantum threat has been known for years,
Work is underway on quantum-resistant cryptography,
A fork of Bitcoin to a new standard is possible,
The network can continue to operate after changes.
Thanks to this, Bitcoin is not defenseless against the development of technology. Phil emphasizes that even the sudden appearance of a quantum computer does not mean the end of the network. Changes could be implemented in stages. This gives the entire ecosystem time to react.
Does a fork mean chaos for users? Phil reassures that the Bitcoin community has gone through updates many times before. For this reason, such a scenario is nothing extraordinary. The key point is that a solution exists.
The worst possible scenario for Bitcoin
Phil Konieczny does not shy away from difficult questions and also discusses the pessimistic scenario. It assumes a situation where a quantum computer appears suddenly. In that case, it would be necessary to roll back to earlier blocks. Such a move could affect part of the transactions.
Phil notes, however, that the losses would concern a very short period. We are talking rather about days or weeks, not the entire history of the network. Bitcoin as a system would still exist. Therefore, the narrative about its total destruction is exaggerated.
For beginner investors, it's important to understand the scale of risk. We are not talking about losing all funds in one go. It's rather a technical challenge that can be solved. This is a huge difference.
Does such a scenario deter long-term investors? According to Phil, no. Those looking at Bitcoin from a multi-year perspective understand that every system undergoes evolution. The Internet has also changed multiple times, and yet it still works today.
Therefore, the worst case does not mean the end of Bitcoin. It only signifies a difficult adaptation moment. This is an important difference that critics often forget.
Quantum computers as a strategic weapon
Phil Konieczny's third argument concerns politics and geostrategy. He points out that a true quantum computer would be a strategic weapon. Such technology would provide a huge military and intelligence advantage. Therefore, governments would not reveal it hastily.
Phil believes that the destruction of Bitcoin would not be a priority for any state. Revealing such technology would undermine their own financial systems. Central banks, stock exchanges, and critical infrastructure would also be at risk. This makes the scenario of an attack on Bitcoin seem irrational.
At this point, another question arises: would governments risk destabilizing the financial world? Phil answers indirectly that no. They could lose too much. Therefore, scaring people with quantum threats often serves only to create sensationalism.
In the end, Phil returns to his humorous tone. He suggests that those who believe in this argument should stop using the internet. They should also close their bank accounts and give up the stock market. Otherwise, their fears are selective.
Phil Konieczny's entire statement shows one thing. Bitcoin is not a naive project ignoring technological development. It is a system that has assumed the need for adaptation from the very beginning. Therefore, the argument about quantum computers should not deter informed investors.
To familiarize yourself with the latest cryptocurrency market analysis from BeInCrypto, click here.
