Regarding whether Google's newly released quantum computing will impact cryptocurrency, especially in Bitcoin mining, we can analyze it from two angles: the current technological state and future possibilities.

### Current Impact:

- Technological State: According to the information released by Google and related analyses (such as some discussions on X), the current quantum computing technology, particularly Google's Willow chip, although demonstrating tremendous potential in certain computational tasks, is still far from being able to threaten existing cryptocurrency algorithms. Quantum computers need thousands of stable, error-corrected qubits to truly break the cryptographic mechanisms used by Bitcoin, such as ECDSA (Elliptic Curve Digital Signature Algorithm) and SHA-256 (Secure Hash Algorithm 256-bit).

- Quantum Computing and Bitcoin Mining: Current quantum computers are still not efficient enough to perform the SHA-256 hash calculations required for Bitcoin mining. Even if quantum computers can theoretically perform some calculations faster, their performance in practical applications, especially in terms of energy consumption and stability, has not yet reached a level that could replace current ASIC (Application-Specific Integrated Circuit) miners.

### Future Possibilities:

- Potential Threats: With advancements in quantum computing technology, particularly breakthroughs in quantum error correction, there may be threats to existing cryptographic algorithms in the future. Some experts predict that within 7 to 30 years, quantum computers may reach a level capable of breaking current cryptocurrency security. However, this is a long-term process that requires significant improvements in both the quantity and quality of qubits.

- Defensive Measures: The cryptocurrency community has already recognized this potential threat and is considering and developing quantum-resistant cryptographic algorithms, such as those based on hashes, lattices, multivariate or homomorphic encryption technologies. Mainstream cryptocurrencies like Bitcoin may need to upgrade their cryptographic algorithms before quantum computing becomes a real threat.

- Market Reaction: The market's reaction to the release of Google's Willow quantum chip is primarily based on concerns about the future, rather than a direct impact on the current cryptocurrency system. Some discussions and analyses suggest that this could lead to short-term fluctuations in cryptocurrency prices, but in the long run, the market will adapt to new technological challenges.

In summary, Google's new quantum computing technology currently has a psychological and anticipatory impact on cryptocurrency, rather than a real technical threat. In the future, as quantum computing develops, it will indeed be necessary to consider and implement corresponding defensive measures to ensure the security of cryptocurrencies.