Bitcoin Taproot adoption rate plunges: from 42% sharply down to 20%, is the quantum threat the driving force behind it?

Question

【Crypto World】Recently, there has been an interesting phenomenon. According to on-chain data, the proportion of Bitcoin transactions using the Taproot output format has dropped from a peak of 42% last year to around 20% now. This is the first time we’ve seen the latest output format “fail” among users.

Why is that? Analyst Willy Woo offers an angle: quantum computing. His view is that Taproot’s resistance to quantum threats may not be as strong as expected, and in fact, the older SegWit and Legacy formats are relatively more secure against quantum attacks.

This is somewhat ironic. When Taproot was introduced as the latest address format, it was meant to enhance security and efficiency. But due to concerns about quantum computing, users are now hesitant. Willy Woo also previously warned that Bitcoin needs to prepare for quantum threats and suggested migrating to SegWit addresses to mitigate risks. This topic seems to have struck a nerve within the community.

DegenWhisperer · Accepted Answer

Huh? Taproot was directly cut off, this plot twist is a bit extreme.

Is the quantum threat real or fake? Why did it suddenly scare everyone away?

Wait, do I need to rush to move to SegWit? This operation is a bit tiring.

Is Willy's statement reliable? It feels like just another excuse to cut the leeks.

But the drop from 42% to 20% is indeed shocking; I need to do some research.

This is the price of the latest technology, always being chased by the next risk.

Is it true that Taproot has fallen so far? It's a bit hard to accept.

Quantum computing is still far off, why are people so panicked...

SatoshiLeftOnRead · Answer

Haha, this is awkward. The newborn hasn't even turned red yet and is already falling behind.

Is Taproot really disappointing? Or is everyone just betting on quantum computing power, which still has to wait a few years?

Old antiques are actually safer, this is ridiculous.

Instead of fussing over Taproot, better think about what happens when quantum comes—then we're all doomed.

By the way, was Willy's prediction this time accurate? What he said last time has changed again.

BearWhisperGod · Answer

Wow, is Taproot really crashing this badly? Is the quantum threat real or just another round of panic marketing?

By the way, Willy Woo always causes a dump every time he speaks.

I should have just stuck with the old format instead of trying the new one. It's better to just stick with SegWit.

But what if quantum computing really arrives? Has anyone thought about that?

GateUser-e51e87c7 · Answer

Damn, quantum threats are playing so big? In just over a year, it crashed from 42% to 20%, this reversal is a bit ridiculous.

Taproot has indeed been overestimated this time; I should have trusted Willy Woo's words earlier.

People are still betting on when quantum will arrive, but wallets are already starting to run away.

If quantum computing really comes, these address formats won't be enough... that's the most terrifying part.

It turns out new technology isn't even safe; this logic is incredible.

Can anyone explain why legacy has become a "safe haven"? I just can't understand this.

Everyone's talking about quantum threats, but will anyone really migrate? I doubt it.

People: We need innovation. Crypto world: Innovation? When quantum arrives, you'll all have to die.

The sword of Taproot has already been drawn, but it's still not as impressive as Legacy; the embarrassment level is maxed out.

Actually, it was high time to listen to industry experts' advice; only waiting for data to speak up is too late.

WhaleShadow · Answer

Damn, Taproot was abandoned so quickly? Quantum stuff is really scary.

Falling from 42 to 20, it seems the big players are really panicking. Old-school methods are more reliable.

This ghost of quantum computing, why does it always pop up at critical moments?

I should have listened to Willy and moved to SegWit a long time ago. Really regret it.

Taproot is truly ill-timed; new technology hasn't even been fully adopted before being discarded.

It feels like the crypto world is always scrambling for the next threat.

Now, technological upgrades have become a risk, which is a bit ironic.

When exactly will the quantum threat arrive? It can't always be on high alert, right?

It sounds like Bitcoin's security isn't as solid as we thought.

WinterWarmthCat · Answer

Wait, are quantum threats really that serious now? I thought it was a bug in Taproot, so I migrated again

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Haha, the most ironic thing is that the new format is actually less secure. The crypto world is really something

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Willy Woo always manages to stir up some trouble, but this time it seems he's onto something

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From 42% directly down to 20%, such speed... truly disheartening, hard to lead the team

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I was wondering why my friend has been messing around with address migrations recently, turns out they’re all protecting against quantum

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Irony aside, everyone, you should listen to advice and quickly implement SegWit

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Is the quantum computing threat really imminent? Or is this just another round of FUD, everyone

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Now it’s all good, new technology hasn’t even been widely adopted before being pushed back to the cold storage, really not easy

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The big shots are quietly fleeing, and we retail investors have become the last in line

Ser_Liquidated · Answer

Damn, is the big weapon of quantum computing really here? I was still sleeping.

How long has Taproot been around? It was directly cut off, that move is indeed awesome.

Old folks are still old folks, SegWit is really reliable.

My goodness, this wave of counter-operation was indeed a bit reckless.

How did it turn sour again? The previous promotion was so aggressive.

The quantum threat has caused widespread panic. Should I just change the address?

Willy's warning this time sounds a bit scary haha.

Here we go again, so annoying. It's better to just hold.

So should I buy the dip on Taproot now or quickly transfer funds?