Bitcoin's Quantum Conundrum and the Rise of Crypto Payments

The world of cryptocurrency is abuzz with the latest developments, from the potential threat of quantum computing to the rise of innovative payment apps. Meanwhile, the scientific community is making strides in various fields, from medicine to archaeology. In this article, we'll delve into the latest news and explore the implications of these advancements.

Bitcoin, the pioneering cryptocurrency, has long been a topic of interest and debate. Recently, concerns over the threat of quantum computing have resurfaced, with some experts warning that it could "break Bitcoin." Christopher Wood, global head of equity strategy at Jefferies, has removed Bitcoin from his model portfolio citing concerns over quantum computing. Coinbase, a leading crypto exchange, has formed an advisory board to assess the risks and outline migration paths to post-quantum-secure signatures.

But how real is the quantum computing threat to Bitcoin? The answer lies in the blockchain's cryptographic signatures, which are vulnerable to quantum attacks. However, the development of quantum computers capable of such attacks is still in its infancy. According to experts, it's unlikely that quantum computers will pose a significant threat to Bitcoin in the near future.

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 may become politicized. The NIH has traditionally maintained a reputation for independence and non-partisanship, but recent developments have raised eyebrows.

On a more positive note, a fungus has shown promise as a potential insecticide of the future. The fungus, which is capable of detoxifying plant chemicals made more potent by insect pests, could provide a more environmentally friendly alternative to traditional pesticides.

Meanwhile, in the world of archaeology, new evidence suggests that humans, not glaciers, moved stones to Stonehenge. This discovery sheds new light on one of the world's most mysterious ancient monuments.

In the realm of technology, a lip-syncing robot has been making waves, and researchers have discovered Leonardo's DNA. These advancements demonstrate the incredible progress being made in various fields.

But what about cryptocurrency? Despite the concerns over quantum computing, a new wave of apps is emerging that allows users to pay with crypto even where merchants don't accept it. These apps work through a pay-on-behalf system, where shoppers scan the merchant's usual bank QR code, send crypto into an app or escrow wallet, and a local partner pays the merchant in fiat.

PlebQR, launched in late 2024, is one such example that brings together Thailand's PromptPay system 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.

These innovative payment apps demonstrate the potential for cryptocurrency to become a more mainstream form of payment. As the world of cryptocurrency continues to evolve, it will be interesting to see how these developments play out.

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