Blockstream CEO Adam Back has dismissed growing public warnings about the risks of quantum computing for Bitcoin, criticizing a high-profile venture capitalist for fueling what he called “ill-informed noise” within the Bitcoin community.
In brief
- Adam Back called public warnings about quantum computing premature and overblown.
- Back said Bitcoin should be quantum ready, but quantum computing is still far from posing a real threat.
- The debate highlights divergent views within the Bitcoin ecosystem on the real urgency of the risk.
Adam Back rejects public narrative of quantum fear
Blockstream CEO Adam Back criticized Castle Island Ventures founding partner Nic Carter for amplifying concerns about quantum computing threats to Bitcoin.
In a post on X on Friday, Back accused Carter of spreading “ill-informed noise” and suggested such comments were not very useful for Bitcoiners. His remarks followed Carter's explanation of why Castle Island Ventures invested in Project Eleven, a startup focused on protecting Bitcoin and other crypto assets from potential quantum threats.
Back argued that the Bitcoin community is not ignorant of the issue. Rather, he said developers are already looking for quantum-resistant solutions, but prefer to do so quietly rather than fuel public fear.
Carter disputes denial claims
Nic Carter disagrees with Back's assessment. He claims that many Bitcoin developers remain in “total denial” regarding the risks posed by quantum computing.
While the investment in Project Eleven recently resurfaced on social media, Carter noted that he had already made the public disclosure. He cited an October 20 Substack post where he revealed the investment in the first sentence, emphasizing transparency regarding his financial exposure. “I knew the bad faith criticism would come,” Carter said, adding that he made sure to fully disclose his involvement.
Why Carter considers quantum computing a risk
Carter said his concerns grew after discussions with Project Eleven CEO Alex Pruden, who he said “quantified” him. According to Carter, the investment reflects a sincere belief that quantum computing could pose future risks to Bitcoin.
He outlined several reasons for concern. These include governments preparing for a post-quantum world, Bitcoin acting as a potential incentive for quantum advancements, and increased investment in quantum technology companies. Carter is not alone in issuing public warnings. Several prominent figures have recently expressed similar concerns.
How soon could quantum threats emerge?
Capriole Investments founder Charles Edwards has warned that quantum computing could become a real threat to Bitcoin within two to nine years if the network does not update its cryptography to make it quantum-resistant.
Others take a more cautious view. Entrepreneur Kevin O'Leary recently said that breaking Bitcoin's security would not be the most effective use of quantum computing. He argued that the technology would likely bring more value in areas such as AI-driven medical research.
Back himself recognized the importance of long-term preparation. He said it is good that Bitcoin is “quantum ready,” but added that quantum computing is still at a very early stage and is not expected to pose a serious threat for several decades.
Debate highlights division within Bitcoin community
The disagreement highlights a broader divide within the Bitcoin community. Some argue that public discussion is necessary to accelerate preparation. Others believe that overestimating short-term risks creates unnecessary fear. For now, the debate reflects a tension between proactive caution and trust in Bitcoin's long-term security model as quantum computing continues to evolve.
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