According to @BitMEXResearch, the bitnod.es BIP110 activation monitoring chart shows the Bitcoin network has entered the second signalling epoch with no miner signalling recorded so far. Source: @BitMEXResearch on X Dec 25 2025; bitnod.es. The Christmas-themed progress chart was also inscribed on-chain and is viewable via Ordiscan inscription dd4c5906a402962822dd9d76dba3afd49fa9baea412bbd94d4a827389b694e9di0. Source: @BitMEXResearch on X; ordiscan.com. For traders, versionbits-style deployments require sufficient miner signalling within a difficulty-epoch window to activate, so the current lack of signalling means activation cannot complete in this window unless signalling begins and reaches the threshold. Source: BIP9 versionbits specification on the bitcoin BIPs repository; @BitMEXResearch on X.

According to @BitMEXResearch, the Bitcoin and quantum risk debate is pretty much unchanged since 2011, source: @BitMEXResearch. According to @BitMEXResearch, they have no idea if quantum technology itself has meaningfully developed since 2011, source: @BitMEXResearch. According to @BitMEXResearch, Bitcoin post-quantum cryptography techniques have improved considerably since 2011, source: @BitMEXResearch. According to @BitMEXResearch, the thread focuses on the potential risks quantum computers could pose to Bitcoin and how Bitcoin could mitigate that risk, noting this debate is nothing new, source: @BitMEXResearch. According to @BitMEXResearch, the discussion cites the 2008 Post-Quantum Cryptography work by Daniel Bernstein and others as background to the long-running conversation on mitigation, source: @BitMEXResearch.

According to @BitMEXResearch, adopting post-quantum cryptography too early in Bitcoin could have missed more efficient schemes, citing a Dec 11, 2025 proposal by n1ckler with signatures around 350 bytes (source: BitMEX Research tweet Dec 23, 2025; delvingbitcoin.org SHRINCS thread Dec 11, 2025). The proposal thread titled SHRINCS: 324-byte stateful post-quantum signatures with static backups documents a design targeting 324-byte stateful PQ signatures with static backups (source: delvingbitcoin.org SHRINCS thread Dec 11, 2025). Smaller signatures directly reduce per-input virtual size, which determines transaction fees and blockspace usage on Bitcoin where fees are priced by vbytes (source: BIP 141 SegWit; Bitcoin Core fee policy documentation). For traders, this signals that future PQ pathways may impose less overhead on capacity and fee markets than previously assumed, keeping BTC network cost projections tied to ongoing cryptography R&D rather than imminent protocol changes (source: BitMEX Research tweet Dec 23, 2025; delvingbitcoin.org SHRINCS thread Dec 11, 2025).

According to BitMEX Research, there has been significant technological progress in quantum-resistant signature schemes that Bitcoin could use, as reported in a Dec 23, 2025 thread (source: BitMEX Research, Dec 23, 2025). BitMEX Research shared a chart showing the signature sizes in bytes and the dates these schemes were proposed for Bitcoin, providing concrete data points for assessing potential on-chain data overhead if any scheme is later evaluated by developers (source: BitMEX Research, Dec 23, 2025). The post does not announce any activation, adoption, or timeline, indicating no immediate protocol catalyst from this update alone for BTC price action (source: BitMEX Research, Dec 23, 2025).

According to @BitMEXResearch, Armoury wallet founder Alan Reiner joined the discussion and said he is a bit of an expert on the topic, adding that in his view the technology would take many decades to develop, giving the industry time to prepare accordingly, source: BitMEX Research on X, Dec 23, 2025. The source did not specify any immediate market impact or near-term action items, framing the timeline as long term within a 13-post thread (9/13), source: BitMEX Research on X, Dec 23, 2025.

According to @BitMEXResearch, Bitcoin developer Pieter Wuille joined the discussion to explain which coins could be at risk from quantum computing, highlighting that risk assessment is an active topic in the community (source: @BitMEXResearch on X, Dec 23, 2025). @BitMEXResearch reported that user sgravina expressed skepticism about quantum computing capabilities, noting the oft-cited claim that the most impressive factorization achieved was 5 x 3 = 15, a talking point the thread says persists (source: @BitMEXResearch on X, Dec 23, 2025). For traders, the thread indicates ongoing debate around quantum-security risk narratives tied to BTC, which market participants track as potential headline-driven sentiment catalysts (source: @BitMEXResearch on X, Dec 23, 2025).

According to @BitMEXResearch, a participant identified as “neotrino” expressed concern about Bitcoin’s current ECDSA and urged a move to post-quantum algorithms, warning the US government could break ECDSA within five years. Source: @BitMEXResearch on X, Dec 23, 2025, status 2003589479853097229. For traders, this post flags a perceived five-year threat window to ECDSA used in Bitcoin, making developer discussions on post-quantum migration a potential headline catalyst to monitor. Source: @BitMEXResearch on X, Dec 23, 2025, status 2003589479853097229.

According to BitMEX Research, the Bitcoin community was already debating quantum-computing risks in January 2011 on Bitcointalk, highlighting long-standing awareness of potential cryptographic threats to BTC security, Source: BitMEX Research post on X dated Dec 23, 2025, Bitcointalk forum discussion. The core technical issue is that Bitcoin’s ECDSA signatures would be vulnerable to sufficiently powerful quantum computers via Shor’s algorithm, prompting global efforts to adopt post-quantum cryptography, Source: NIST Post-Quantum Cryptography project. Traders evaluating tail risk can track two concrete signals grounded in this context, the maturation of NIST-standardized post-quantum signature schemes and any Bitcoin developer discussions about quantum-resistant signature options, as proxies for mitigation progress rather than immediate protocol change, Source: NIST Post-Quantum Cryptography project, Bitcointalk forum discussion.

According to @BitMEXResearch, in June 2013 Google acquired a 512 qubit quantum computer, which reignited concerns among Bitcoiners about potential quantum risks to Bitcoin security. Source: @BitMEXResearch, Twitter, Dec 23, 2025. According to @BitMEXResearch, this is documented as part of a 13-post timeline highlighting quantum-related headlines that affected Bitcoin community sentiment. Source: @BitMEXResearch, Twitter, Dec 23, 2025.

According to @BitMEXResearch, in December 2011 D-Wave announced that a 128-bit quantum computer would be available soon, which again sparked concern among Bitcoiners, highlighting headline-driven sentiment risk for BTC security that traders monitor. Source: @BitMEXResearch on X, Dec 23, 2025.

According to @BitMEXResearch, in May 2011 D-Wave announced it sold the world’s first quantum computer to Lockheed Martin, triggering visible concern in the Bitcoin community and leading to multiple discussion threads, highlighting sensitivity to quantum-computing headlines as a BTC security narrative catalyst, source: @BitMEXResearch.

According to BitMEX Research, a referenced book imagines that practical quantum computers exist by 2023 and concludes cryptography would not be killed, outlining five categories of quantum‑resistant schemes, which directly informs long-term risk framing for digital assets. Source: BitMEX Research (Twitter, 2025-12-23). For trading context, standardized post-quantum algorithms now exist for key encapsulation and digital signatures (ML-KEM/Kyber, ML-DSA/Dilithium, SLH-DSA/SPHINCS+), providing concrete candidate replacements for current primitives used across blockchain networks. Source: NIST FIPS 203, FIPS 204, FIPS 205 (2024). Bitcoin and Ethereum use ECDSA over secp256k1 for transaction signatures, so any quantum-related exposure in these networks centers on signature algorithms, which have defined post-quantum alternatives per current standards. Sources: Bitcoin Core documentation; Ethereum Yellow Paper; NIST FIPS 203/204/205 (2024).

According to BitMEX Research, discussion of Bitcoin’s quantum computing risk and potential mitigations is longstanding and references the 2008 volume Post-Quantum Cryptography by Daniel J. Bernstein and others, indicating this is not a new concern for the ecosystem (source: BitMEX Research, Dec 23, 2025; source: Post-Quantum Cryptography, 2008). The referenced literature documents that Shor's algorithm breaks discrete-log-based cryptography including elliptic-curve systems used for Bitcoin transaction signatures, while Grover's algorithm provides only a quadratic speedup against hash functions such as SHA-256, implying different threat levels and timelines for signatures versus hashing (source: Post-Quantum Cryptography, 2008). BitMEX Research’s thread does not announce any new vulnerability, exploit, or immediate protocol change, framing the topic as research context rather than a current incident or catalyst (source: BitMEX Research, Dec 23, 2025). For traders, this thread signals no direct near-term market catalyst from quantum risk alone, while underscoring the relevance of tracking credible post-quantum signature research that could inform future Bitcoin upgrade discussions if required (source: BitMEX Research, Dec 23, 2025; source: Post-Quantum Cryptography, 2008).

According to @BitMEXResearch, BitcoinTreasuries.NET reported that MicroStrategy (MSTR) increased its US dollar reserves to $2.19 billion to pay dividends on preferred stock; source: BitMEX Research on X citing BitcoinTreasuries.NET, Dec 22, 2025. For traders, this highlights MicroStrategy’s USD cash position as a watch item alongside its BTC exposure when assessing MSTR liquidity and volatility; source: BitMEX Research on X citing BitcoinTreasuries.NET, Dec 22, 2025. Key watchpoints include MSTR intraday reaction to the $2.19B reserve headline and any follow-up disclosures specifying dividend payment schedules; source: BitMEX Research on X citing BitcoinTreasuries.NET, Dec 22, 2025.

According to @BitMEXResearch, Bitcoin's total accumulated proof-of-work (chainwork) has just crossed 2^96 on December 21, 2025. Source: BitMEX Research tweet dated December 21, 2025. Accumulated proof-of-work, also called chainwork, is the sum of expected hashes securing the best chain and grows with block difficulty and height, marking a new record depth of security at this threshold. Source: Bitcoin Core developer reference on chainwork and difficulty. Higher chainwork raises the cost of deep chain reorganizations and the probability of an attacker catching up drops exponentially with confirmations, strengthening on-chain settlement assurances relevant to traders moving large BTC. Source: Satoshi Nakamoto, Bitcoin whitepaper (2008) on confirmation probability. This milestone does not change Bitcoin’s issuance schedule or target block interval, but it underscores the robustness backing exchange deposits, withdrawals, and on-chain collateral flows that traders rely on. Source: Bitcoin Core consensus rules on monetary policy and block interval.

According to BitMEX Research, the team has resurfaced its July 2025 analysis on quantum-safe Lamport signatures, bringing renewed attention to hash-based, one-time signature schemes as a mitigation path for quantum risks in blockchain key security (source: BitMEX Research blog, Quantum Safe Lamport Signatures, July 2025). Lamport-style constructions form the basis of standardized hash-based signatures such as LMS/LM-OTS and XMSS, which aim to retain security against quantum adversaries under hash preimage resistance assumptions (source: NIST SP 800-208; RFC 8391). In contrast, Bitcoin currently validates signatures via legacy ECDSA and BIP340 Schnorr on secp256k1, and Ethereum validates via secp256k1 ECDSA, all of which are vulnerable to Shor’s quantum algorithm for discrete logarithms when large-scale quantum computers are available (source: Bitcoin.org Developer Guide; BIP 340; Ethereum Yellow Paper; Shor 1997). As of today, neither BTC nor ETH mainnets have activated a post-quantum signature scheme, meaning no protocol-level cryptographic change is in effect despite active research, making migration discussions like Lamport signatures relevant for long-horizon risk management rather than immediate transaction processing changes (source: BIP 340 and current Bitcoin consensus documentation; Ethereum Yellow Paper). Outputs that have revealed public keys on-chain face higher post-quantum exposure than unrevealed-key outputs, underscoring why quantum-safe key management and address hygiene are material for custodians and long-term holders as research momentum builds (source: Aggarwal et al., Quantum attacks on Bitcoin, 2017).

According to BitMEX Research, Bitcoin developer Rkrux said completing the BOSS challenge enabled him to work on Bitcoin Core full time with support from a Maelstrom Fund grant. Source: BitMEX Research (X, Dec 16, 2025). For traders, this confirms an instance of external funding directly adding full-time developer capacity to Bitcoin Core, with no protocol changes or release timelines disclosed in the post. Source: BitMEX Research (X, Dec 16, 2025).

According to @BitMEXResearch, the updated activation chart shows blue bars for the number of signalling blocks, which are at zero so far in the current period, indicating no recorded miner signalling yet; source: @BitMEXResearch, Dec 16, 2025. According to @BitMEXResearch, green bars fill as time elapses regardless of signalling, meaning the current period continues to progress on time even without signalling; source: @BitMEXResearch, Dec 16, 2025. According to @BitMEXResearch, a red line will appear in the next period to mark the activation threshold, giving traders a clear benchmark to monitor when the window rolls over; source: @BitMEXResearch, Dec 16, 2025. Trading takeaway: monitor any increase in the blue bar signalling count and the appearance of the red threshold line in the next period as near-term catalysts highlighted by the chart’s logic; source: @BitMEXResearch, Dec 16, 2025.

According to @BitMEXResearch, Bitnod.es has launched a live system tracking UASF BIP-110 miner activation flags in real time. Source: BitMEX Research (X, Dec 16, 2025). According to @BitMEXResearch, no blocks have flagged the activation bit so far, implying a current signaling rate of 0%. Source: BitMEX Research (X, Dec 16, 2025). According to @BitMEXResearch, traders can monitor the Bitnod.es dashboard to detect any change in signaling that would update the on-chain activation status for BIP-110. Source: BitMEX Research (X, Dec 16, 2025).

According to @BitMEXResearch, ForkMonitor is running the UASF BIP-110 v0.1 Release Candidate 1 and its alert shows the BIP9 reduced_data softfork status became started at Bitcoin block height 927360 as reported by the Bitcoin Knots 29.2 UASF BIP-110 v0.1 client; Source: x.com/BitMEXResearch/status/1999142307816186005 and forkmonitor.info/nodes/btc. For traders, this confirms at least one monitored node using a UASF client is reporting a started state for the reduced_data deployment, which can be independently verified on the ForkMonitor BTC nodes page; Source: forkmonitor.info/nodes/btc and x.com/BitMEXResearch/status/1999142307816186005.