Will Quantum Computing Kill Crypto?

Google's "Willow" chip is the Bitcoin version of asteroid mining for gold.

As I type this in Mid-December (Dec 12th, to be exact), Bitcoin has been hovering along the $100K USD mark since its surge to fresh all-time-highs just one week ago.

I had to check the charts when I wrote that, because it feels like that happened a long time ago. My caution to readers was to brace for an immediate plunge down once the level was finally breached, but that didn’t happen.

There have been brief pullbacks and rallies back up, but nothing really to write home about.

Probably the biggest “plunge” in the spot price occurred on Dec 10th, when Google announced a “breakthrough” in their Willow quantum computing chip

The fear being that quantum computing has the theoretical capability of cracking contemporary encryption, including the SHA-256 algorithm that encrypts Bitcoin private keys.

This was shaping up to be the entire “This Month’s FUD” section for the next monthly newsletter, but seeing as that’s still a few weeks out, we’ll cover it here, lest this be old news by then.