Google Quantum Willow: Are Cryptocurrencies at Risk?

GM. Welcome to Daily Squeeze, the place where crypto cherries, blockchain bananas, and market mangoes are squeezed into a refreshing mix.

🤖 Google presents Willow, a quantum computing chip.

🍋 News drops: Bitmain is expanding its production line in the US, Floki and Mastercard launch a new debit card + more

🍍 Taste of the market today

A silence falls over the crypto village: everyone seems to be waiting in silence for something big to happen 📖 And then what do we see? btc falls to $95 thousandHowever, the atmosphere is anything but fearful: the fear and greed index is at 78.

Bitfinex Analysts Noticed This that the correction set off some fireworks in the neighborhood of derivatives – over $1.1 billion in liquidations, of which $419 million were long Bitcoin positions.

But don’t worry: things also seem to be cooling down. Profits, which were once $10.5 billion a day, have stabilized at $2.5 billion. = less sales = less pressure pushing the price down.

Another green flag: futures financing rates (how expensive is it to hold a futures contract compared to spot BTC) have been normalized. High funding rates mean a lot of speculation and sometimes unstable prices, so this calmer environment is a good look.

Further, BTC ETFs continue to do their thing $478.1 million in tickets yesterday, giving the market solid support.

Basically, tThe overall outlook for the coming weeks and months appears quite bullish.. If the cost of holding futures doesn’t rise too much again and fewer people withdraw profits, then Bitcoin could continue to rise.

​​Daniel Cheung of Sincracia Capital has this shot: In this cycle, traders try to sell at the top instead of staying. But ironically, this short-term mentality could prolong the uptrend for longer.

Some say the best stories don’t have clear endings: they keep you guessing. Crypto is no different: each page turns with a new plot twist. What will the next chapter bring us? To be determined ✨

🥝 Harvest of memecoins

It’s a world where memes eat memes, and these ones surely aren’t hungry today:

• Luigi Mangione (LUIGI) +31K%

Inspired by the guy who shot health insurance company CEO Brian Thompson. Very dark, but apparently…memeable? 😬

• Google’s new super AI (WILLOW) +2K%

This is riding the wave of publicity generated by Google’s new quantum chip, Willow.

Increase Thanks to Binance Futures for announcing the KOMAUSDT Perpetual Contract.

• Pepecoin Network (PEP) +52%

A fork of Dogecoin that builds a “fun” layer 1 blockchain community.

Data at 08:15 am EST.

🤖 Quantum is the new black

There are certain words you can include in your daily conversations to make yourself seem smarter. or a bit boastful, but at least intelligent. how to say juxtaposition rather contrast. And if you feel like it a bit, you can opt for the ultimate flexible word: quantum.

The best part is that you can leave the quantum bomb in the most random contexts, and people will nod, because 90% of the population has no idea what that means.

Example. You: I feel quantum today. All: 😧 Give this person a monocle and a Nobel Prize as soon as possible.

It turns out that Google Also know this life hack. (except they probably do know what that is). they have introduced Willow – a new quantum computing chip that processes computational problems so fast it makes supercomputers They look lazy crossing the street..

How fast, you ask? Willow can solve a problem in less than five minutes For that you would need the best supercomputer, ooh 10 septillion years.

10,000,000,000,000,000,000,000,000.

That. No, I didn’t add extra zeros for drama (the bold does that part). Yeah, that’s longer than the age of the universe (which is 13.8 billion years, by the way).

How does that work? Here’s a TL;DR:

• Classic computers = regular bits (1 and 0, or beep and beep for my non-technical readers).
• Quantum computers = qubits (1s, 0s and also both at the same time. Beep, boop…and beepboop).

But the problem with quantum computers has always been this: The more qubits you add, the messier things get. They are very sensitive to environmental interference, so things like temperature changes or small vibrations can cause errors.

Willow’s big brain moment to figure this out? He combines information from more than 100 qubits into one “logical” qubit. This approach reduces errors and keeps the entire system running efficiently.

And Google believes this breakthrough could lead to Commercially viable quantum computers by the end of the decade.. Great 😃👍 …but what are quantum computers for?

These computers are designed to specific types of problems classical computers struggle withhow to break encryption, simulate quantum systems (think chemistry)optimizing complex systems (think logistics)and solve big problems in machine learning and artificial intelligence.

Now, here’s where the crypto community might start to worry: If quantum computers could crack encryption, does that mean our industry is finished?

Short answer: No. At least not yet.

To crack the Bitcoin encryption in 24 hours, a quantum computer with 13 million qubits would be needed. Willow is sporting a nice 105 qubits, so we’re still Millions of qubits from serious threats.

Basically, that’s a problem for America’s future. But for now, let’s appreciate the fact that things that would have made us burn like witches in the Middle Ages are now becoming a reality. Wild times, my friends.

🍋 News drops

🇺🇸 Binance CEO Richard Teng is not yet ready to talk about a US comeback. “I think it’s a premature discussion if we re-enter the U.S. market,” he said.

⛏ BTC miner Bitmain is expanding its production line in the US to avoid the growing trade drama between China and the United States. Bitmain is known for designing ASIC chips for cryptocurrency mining.

🌎 World (formerly Worldcoin) moved to X to toast Spotify Wrapped. More specifically, the platform’s questionable data privacy practices:

💳 Floki has partnered with Mastercard to launch a new debit card, available in physical and virtual versions in 31 European countries. This bad boy supports more than 8 blockchains and allows you to upload FLOWERS and other cryptocurrencies.

🪂 The Movement Network Foundation launched MOVE, the utility token for its Ethereum L2 network, Movement. One billion MOVE tokens were given out at the MoveDrop airdrop for early adopters.

🧃 Sip of knowledge

Get to know the MEXC crypto exchange with the latest BitDegree mission, “MEXC Trading 101: Master the Essentials”:

🍌 Juicy memes