Bitcoin creators’ response to the cryptocurrency’s quantum computing risks is depressing its price and affecting capital flows, cryptocurrency industry executives have argued.

Adam Back, cypherpunk and co-founder of Bitcoin infrastructure company Blockstream, he argued In number with

He predicts that there will be no threats in the next ten years and that even if some elements of Bitcoin’s encryption are broken, its core security model will not rely on encryption and “it will not result in Bitcoin being stolen on the network.”

Quantum computing continues to be debated as a potential threat to the crypto industry, as it is theorized that more advanced computers that can break encryption are capable of revealing user keys and exposing sensitive data.

Investors concerned about quantum risk

Nic Carter, partner at venture capital firm Castle Island Ventures, he said in response to Back that it’s “extremely bearish” that many influential developers “vehemently deny the existence of any quantum risk.”

“The discrepancy between capital and developers on this issue is huge. Capital is concerned and looking for a solution. Developers are mostly in complete denial. The inability to even acknowledge the quantum risk is already affecting the price.”

Craig Warmke, employee of the Bitcoin Policy Institute, Agreementadding that quantum risk slows the flow of capital into Bitcoin and forces larger holders to diversify.

“When non-technical people express concerns, they sometimes use technically incorrect language,” he said, adding that it is “frustrating to see technical people dismiss concerns” rather than address the topic of “reducing stakes due to perceived quantum risk.”

There should be contingency plans

While the technology won’t pose a threat for many years, critics also say it poses a threat to banking giants and other classic targets cracked long before Bitcoin.

Related: Bitcoiners are pushing for a quantum-resistant BIP-360 upgrade as the debate heats up

Carter maintains that companies and even countries are raising significant funds to build quantum computers, and artificial intelligence is helping to accelerate development.

Meanwhile, Warmke said the best solution, whether the risk is real or not, is to convince people the risk is close to zero and lend a hand them develop contingency plans in case it isn’t.

“The only solution is to develop and standardize contingency plans, just in case, to make people feel more comfortable holding Bitcoin,” he added.

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