Good morning.
I’m bullish on Lightning, meanwhile quantum computing won’t matter here in the 2020s.
Discussion
GM. Bullish on Why Do Prices Rise? as conversation starter: https://whydopricesrise.com
It is extremely cost prohibitive. Superconductors are what is standing in the way of quantum computing being a threat to average people. We aren’t even in the AI paradigm yet. Ai is just a parrot that needs to be trained to say what it says and is usually very inaccurate. At best it is a tool for social manipulation for people in a certain income demographic. At worst it is just digital slop. Ai is no where near sentient from my experience. Quantum could be a long way down the road, Where currency is so devalued that trillions of dollars to run attacks on individuals is just a drop in the bucket. 10 trillion dollars today is still enough to cause a serious economic downturn.
GM 🤙🙂
But since it'll take years to have a good solution implemented, we better start now.
I don't want any quantum solution to be replacing our current elliptic curve, just added to it. That way, any btc sent to a quantum-resistant address would require both signatures to be spent. The btc in old addresses, should never be consfiscated and always usable with the same old signatures.
We would get a choice : pay more fees to use an additional (big) signature or go cheap and cross your fingers.
You can't just add it without profoundly damaging the network. QC that breaks a Bitcoin key is physically impossible. The whole thing is a bridge to nowhere.
You might as well start disfiguring the network to protect against perpetual motion machines or breaking the speed of light. Not. Gonna. Happen.
Quantum computing won't matter in the 2020s, but it will take damn near a decade to quantum proof the network.
I figure if we wait until it's clear that a cryptographically relevant quantum computer is less than 5 years away, we're pretty screwed.
Better to start preparing too early than too late.
Yes, this ☝🏻
You’re not wrong but software engineers don’t have the sensibilities required to properly frame this technological timeline.
Ok. That is good. Why?
Anyone in physics engineering (as opposed to software) intuits this to be the most likely timeline.
People ask about what quantum will do to ₿ but never what it will do for chase\boa\wells fargo\hsbc
It will have its impact, but nothing compared to Bitcoin because decentralised protocols require more time to upgrade, and signature size impacts Bitcoin a lot more.
Banks and everyone else is in the process of upgrading. Banks won't be hacked, however for Bitcoin if we don't start the work now, it may be too late.
Same.
We need to host a non-idiot party somewhere…
GM Lyn thx for providing clarity fir confused humans.
good morning Lyn! Been following you for years here since you first joined IIRC, and I love that you're still around and regularly posting! I had my doubts about lightning but I'm becoming more and more a fan again.
have a great Sunday! 😻🙏
Hard money is about rules surviving reality, not vibes surviving hypotheticals. If the threat becomes real, Bitcoin will adapt.
Anyone that invests in QC is going to lose their investment.