Cryptocurrency and Science Make Headlines: Bitcoin's Quantum Conundrum, Fungus-Based Insecticides, and More

In the world of cryptocurrency, a looming threat has been gaining attention in recent weeks. The rise of quantum computing has sparked concerns that Bitcoin's security could be compromised, prompting a reevaluation of the cryptocurrency's long-term viability. According to reports, Christopher Wood, global head of equity strategy at Jefferies, removed a 10% Bitcoin allocation from his "Greed & Fear" model portfolio in mid-January, citing concerns over the potential impact of quantum computing on Bitcoin's security. This move has sparked a renewed debate about the risks and consequences of quantum computing on the cryptocurrency market. But how real is the quantum computing threat to Bitcoin? Experts argue that while the risks are legitimate, they are not imminent. Bitcoin's blockchain is fully public, with all transactions visible, and cryptographic signatures and hash functions are designed to be secure against quantum attacks. However, as quantum computing technology advances, the risk of a potential breach grows. In response to these concerns, U.S. crypto exchange Coinbase has formed an advisory board comprising crypto and quantum experts to assess risks and outline migration paths to post-quantum-secure signatures. This proactive approach acknowledges the potential threat and demonstrates a commitment to addressing it. Meanwhile, in the world of science, researchers have made a groundbreaking discovery that could revolutionize the way we approach insecticides. A fungus has been found to have the potential to become the insecticide of the future. Plant chemicals made more potent by insect pests are detoxified by the fungus, which could provide a natural and sustainable solution to pest control. This breakthrough could have significant implications for the environment and human health. Traditional insecticides have been linked to a range of negative effects, from water pollution to human health problems. A fungus-based insecticide could provide a safer and more sustainable alternative. In other news, a power struggle is brewing at the National Institutes of Health (NIH) over institute directorships. The research agency has 27 institute and center directors, and there are concerns that these roles could become politicized. This development has sparked debate about the potential impact on the scientific community and the integrity of research. In more lighthearted news, a lip-syncing robot has been making waves in the tech world. Researchers have also made new discoveries about Leonardo da Vinci's DNA, and there is new evidence that humans, not glaciers, moved stones to Stonehenge. Finally, a small group of startups is quietly revolutionizing the way we pay with cryptocurrency. Apps like PlebQR are making it possible to pay with crypto at regular stores, even if the merchant doesn't accept it. This pay-on-behalf system allows shoppers to scan the merchant's usual bank QR code, send crypto into an app or escrow wallet, and have a local partner pay the merchant in fiat. Launched in late 2024, PlebQR brings together Thailand's PromptPay system, a government-backed payment network, and Bitcoin. Users can spend BTC on the Lightning Network at any Thai merchant with a PromptPay QR code by getting matched with a local who pays the merchant in Thai baht for them. Once the local partner completes the payment, they receive the crypto and the customer's payment at the merchant is completed. This innovative approach has the potential to increase the adoption of cryptocurrency and make it more accessible to a wider audience. As the cryptocurrency market continues to evolve, it's clear that there are many exciting developments on the horizon. Sources: * "Bitcoin Faces Renewed Scrutiny Over Quantum Computing Threat" * "At NIH, a power struggle over institute directorships deepens" * "Fungus could be the insecticide of the future" * "Research roundup: 6 cool stories we almost missed" * "Inside the Rise of Apps That Let You Pay with Crypto, Even Where Merchants Don’t Accept It"