Will Bitcoin Be Hacked By Quantum Computers? | Pascal Gauthier | Ledger CEO

What Google demonstrated is cool, it's a step towards quantum computing, but it's not going to break anything anytime soon, certainly not Bitcoin or Ledger. When people say on X.com that it's happening, it's not. And if it were, we'd have bigger problems like nuclear war.

Everyone should take a deep breath and calm down. What Google demonstrated is a step, but it's not going to break anything soon. The idea that quantum computing will suddenly happen and break everything is a fallacy. When you build attack, you also build defense. Our CTO Charles wrote the best thread on this. The short answer is nothing is happening right now. If it were, we'd have bigger problems. Ledger keeps an eye on it, and when it happens, we'll have an answer.

That's correct. Hacking is offense versus defense, and there's opportunity cost. Social engineering is less costly, so that's what we've seen. We launched Ledger Recover to take the 24 words out of the equation because the weak point is the user. People still don't understand not to enter their words on a computer. Cold storage is a fallacy. With Ledger, your words are never exposed. We need education, and Recover helps remove friction. Social engineering is most hacks, but now we're seeing more sophisticated attacks. In 2024, real hackers are doing complex hacks. Security will be front and center in the next 10 years. Hackers deploy malware on app stores, so if you flash your 24 words on a phone or computer, they'll be stolen. You need a hardware wallet with a secure screen for clear signing. That's the only way to transact without risk.

This is not a secure screen in the sense that the screen is not controlled by a secure element. With a Ledger, the screen is controlled by the secure element, so every touch is validated. On a phone or computer, the secure enclave doesn't control the screen, so it will sign anything you send it. Here, the secure environment controls everything, providing vertically integrated security.

Not really. Technology is for everyone. Bad guys need an edge, like Pablo Escobar using satellite phones. Right now we're not seeing AI being a problem for Ledger. Cryptography will be the answer to AI – digital scarcity versus digital abundance. Ledger is becoming the security for all your digital secrets, not just crypto. We launched passkeys and will do proof of humanity. If it's signed with your Ledger, we know it's you. So it's more about what Ledger can do to be the answer to AI dangers.

First, the abrasive regulatory environment is in Europe. MiCA and Europe rushing into regulation before business happens is terrible. The result is no exchanges moving coins. In the US, the previous administration waged war on crypto but had no regulation. I hope the US stays low on regulation – if it moves, tax it; if it keeps moving, regulate it; if it stops, subsidize it. That's Reagan. In Europe, we tax, regulate, then subsidize when there's no business. Coinbase is a great example of a company that did well in a toxic environment by building a good business. Business should partner with regulators. Europe's approach is anti-business. GDPR is one of the worst inventions – it just creates annoying popups. I'm intrigued to see the new US administration's impact, including the DOGE initiative. I prefer a society where you're given trust first and only punished if you do wrong.