Opinion: Quantum computing may crack lost Bitcoins, challenging the narrative of scarcity

Advances in quantum computing technology may redefine the traditional idea that lost Bitcoin coins cannot be recovered. The article points out that some early-generated and long-abandoned wallets (such as Satoshi Nakamoto's wallet) may be at risk due to quantum computing breakthroughs in old encryption technology because their owners are unable to migrate their keys to more secure encryption algorithms. This may put some Bitcoins that were thought to be permanently lost back into circulation, thereby changing the scarcity narrative. Although Bitcoin developers are able to protect active wallets through protocol upgrades, and the network is adaptable enough to cope with the challenges of the quantum era, old wallets may be more likely to become targets of future attacks, posing a new test for Bitcoin network security.