In a recent exchange, Blockstream’s CEO Adam Back openly challenged Nic Carter, a partner at Castle Island Ventures, concerning the latter’s support for Project Eleven. This startup claims it will address potential vulnerabilities posed by quantum computing to Bitcoin and other cryptocurrencies.

Back’s rebuttal on X revealed a growing divide within the Bitcoin community, especially regarding the urgency of addressing emerging threats.

Public Communication on Quantum Risks

Back emphasized that Bitcoin’s developers are actively researching quantum threats, albeit quietly. He described the technology’s current stage as “still early,” projecting that significant risks may be decades away.

While Back acknowledged the importance of being “quantum ready,” he cautioned against excessive public alerts, arguing that they might lead to confusion rather than constructive responses.

Developers are not denying the importance of R&D for future quantum capabilities. Yet, your assertions create unnecessary noise in the market. This isn’t productive…

— Adam Back (@adam3us) December 19, 2025

Carter defended his stance, stating that his concerns were heightened after discussions with Project Eleven’s CEO, Alex Pruden. His investment decision stemmed from a growing awareness of the risks associated with quantum technology.

He also highlighted his transparency regarding his financial interests established in a post on Oct. 20 and stated that some developers were in “total denial” regarding the imminent threats.

His perspective included a warning that governments have begun preparing for a quantum future, presenting Bitcoin as a potential “bug bounty” due to its current cryptographic defenses.

Investing was a no-brainer for us; the potential quantum threat is real.

— Nic Carter (@nic_carter) December 19, 2025

Timing in Quantum Threat Assessment

According to Charles Edwards, founder of Capriole Investments, he believes that a quantum threat could manifest within a timeframe of two to nine years, unless cryptocurrency networks shift towards quantum-resistant systems.

Ethereum co-founder Vitalik Buterin has shared insights suggesting a ~20% chance that quantum computers capable of breaking modern cryptography could emerge before 2030, with the median prediction leaning towards 2040.

While Buterin emphasizes that such machines do not currently exist, he advocates for early adaptation, given that transitioning a global system involves lengthy processes.

The median projection for when quantum computers may compromise modern cryptography is around 2040; there’s a 20% chance for any occurrence before the end of 2030.

— Vitalik.eth (@VitalikButerin) August 27, 2025

Contrasting views exist, however. Investor Kevin O’Leary remains skeptical about the likelihood of a quantum attack on Bitcoin, arguing that potential uses for quantum technology, such as in medical fields, might yield greater benefits.

This highlights the variety of opinions within the community, not only about timing but also regarding motivations behind potential quantum attacks.

The Current State of Research and Market Dynamics

Experts agree on one important fact: no operational quantum computer exists today that can penetrate Bitcoin’s cryptographic safeguards.

Despite this reality, investors are still keen to back startups claiming to offer protective solutions against future threats.

The investment from Castle Island, along with discussions on social media, sparks ongoing debates regarding the necessity of transparency and the effectiveness of public warnings within the crypto ecosystem.

Featured image sourced from Quartz, chart from TradingView