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Topic: Bitcoin's latest decline was triggered by quantum computing headlines - page 2. (Read 299 times)

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Disclaimer: I know absolutely nothing about quantum computing.

However, if it was really a threat to cryptocurrency I would think that the biggest of big crashes would have happened after the first announcement.  Unless there was something new in this second one that pointed toward bitcoin being at risk because of quantum computing, I just don't see it as anything more than a coincidence.

I'm still thinking the Celsius freeze had something to do with the crash we're seeing, even if the crash started first.  I'd also point out that it's not only the crypto markets that are down a lot.  The stock market in general took a big hit today, and precious metals were even down.  This could just be a huge selloff of all kinds of investment assets.
I remember that after the first reports about quantum computers and their capabilities, opinions immediately appeared that quantum computers may not reach such powers at which they will be able to crack the security codes of cryptocurrencies. In addition, it was stated that if this happens, then such computers will not be owned by individuals, so that there is no possibility of misusing them. This could reassure many cryptocurrency holders. But some time passed and the power of quantum computers began to grow quite rapidly, and experts also predicted that quantum computers would become dangerous for cryptocurrencies in the next ten years. The article referenced by the OP does not in itself indicate the danger to cryptocurrencies from quantum computers and therefore is unlikely to be a reason for a sharp drop in prices in this market. I agree with the opinion that, most likely, there are several such reasons, and only in sum they give such a negative effect.
hero member
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However, if it was really a threat to cryptocurrency I would think that the biggest of big crashes would have happened after the first announcement.  Unless there was something new in this second one that pointed toward bitcoin being at risk because of quantum computing, I just don't see it as anything more than a coincidence.
I am in agreement with this, probably OP could tell us how the news about quantum computers causes fud amongst bitcoin people that makes them panic and sell, causing a dump in the price, quantum computers is not in any direct competition with bitcoin and crypto, if quantum computers is to affect any phenomenon or thing it will have to be conventional or classical computers, and not bitcoin, because from my little knowledge about quantum computers, they can solve problems faster than classical computers, so possibly in years to come they might be designed in such a way to replace classical computers.

cbdc', government propaganda, fiat inflation that makes people sell, news about other crypto network, politics and economics etc, these are the things that in my opinion can possibly trigger a decline in bitcoin price, i doubt headlines about quantum computing can, like The Pharmacist said, this should just be a coincidence.
legendary
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Disclaimer: I know absolutely nothing about quantum computing.

However, if it was really a threat to cryptocurrency I would think that the biggest of big crashes would have happened after the first announcement.  Unless there was something new in this second one that pointed toward bitcoin being at risk because of quantum computing, I just don't see it as anything more than a coincidence.

I'm still thinking the Celsius freeze had something to do with the crash we're seeing, even if the crash started first.  I'd also point out that it's not only the crypto markets that are down a lot.  The stock market in general took a big hit today, and precious metals were even down.  This could just be a huge selloff of all kinds of investment assets.
hero member
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It can't just be one thing. It's rather a multitude of reasons that provided the downtrend, not just inside or related to crypto, but also in a broader economic sense. The pandemic, war, social shifts, all of those things come into play and all contirbute.
Seems like banksters and those institution are really happy on whats happening now.  Embarrassed
Bank of England Chief Takes Victory Lap as Crypto Crumbles
https://www.coindesk.com/business/2022/06/13/bank-of-england-chief-takes-victory-lap-as-crypto-crumbles/


There are lots of sentiments circling around about this recent drop as of this moment including on what OP stated
but overall this isnt something new and its better to mind on how to accumulate into these cheaper or bargain
price imho.
full member
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It can't just be one thing. It's rather a multitude of reasons that provided the downtrend, not just inside or related to crypto, but also in a broader economic sense. The pandemic, war, social shifts, all of those things come into play and all contirbute.
legendary
Activity: 2562
Merit: 1441
Quantum computer news headlines were published on may 9th, 2022 triggering a BTC decline.

I made a thread about it here:

https://bitcointalksearch.org/topic/m.60088055



Our latest decline began on june 9th, 2022.



https://i.imgur.com/ZwYCASB.jpg


Below is the news article which I believe triggered the downtrend.


Quote
Ministry of Defence acquires government's first quantum computer

June 9, 2022

The Ministry of Defence (MoD) has acquired the government's first quantum computer.

Quantum computers can make very complex calculations extremely quickly and their creators say they can solve the problems regular computers cannot.

https://finance.yahoo.com/news/ministry-defence-acquires-governments-first-025632383.html


In the price history of bitcoin, many major downtrends began on the same day that quantum computing news was published by the media.

I may have made as many as 4 or 5 different threads on this topic over more than 5 years.

For those who disagree, I ask that you take into consideration the price trend correlation between bitcoin and quantum computers being observed numerous times over the years. Its not an outlier nor an exception. I think by this point its fairly well documented even though no one seems to have heard about it.
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