I've been thinking about The Quantum FUD from idiots like Jim Cramer. If BTC encryption were cracked, wouldn't the price of BTC rapidly plummet? All BTC would be stolen fairly quickly, causing the value to drop rapidly as people panic sell what they still have. And who is buying it? The buyer will have it stolen immediately. For this reason I believe quantum attacks are not as dangerous as they seem. For this same reason BTC miners do not attempt to change Bitcoin consensus rules or mint extra coins, as this would cause a crisis of confidence and effectively end to crypto mining enterprises.
On the flip side, bankers and state actors DO have an incentive to quantum attack crypto, because they could destroy confidence in cryptocurrencies and corral the herd back into their electronic fiat prison. Therefore I conclude that the quantum risk to crypto is non-zero, but the odds are lower than previously thought. However the quantum risk is not of price dropping, but the effective end of the 20 year Bitcoin experiment.
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