A real Quantum Computer won’t just boot up and start doing its thing, unless we assume that intelligence agencies either already have them or are close to having them production-ready. So there will either be time to prepare in advance or we’re fucked already without knowing.
Why do you assume the Bitcoin network being down because of it? You can’t just shutdown Bitcoin unless you controlled all miners.
https://moneyin2.substack.com/p/bitcoins-inevitable-collapse?utm_campaign=post&utm_medium=web
This is the article I was asking my question based off.. there is noise but the quantum part is what trigged the question..
If those threats are already made - surely more than BTC is at risk?
#bitcoin #quantum
If this was true some Google insider would already be on their way of moving Satoshi’s coins.
Most of the tropes in that text are kinda lazy anyways. Seems the author still believes in paper money.
This is a better take on the subject: https://cointelegraph.com/magazine/bitcoin-quantum-computer-threat-timeline-solutions-2024-2035/
Thanks for this! I’ll read it in depth 🤙🏻
This article is nonsense.
1. Quantum is thrown around like it were magic.
2. There are specific things that quantum might or might not be able to do, and in Bitcoin there is actually layers of security that it would need to pass.
3. Quantum computers are the next Buzz word. They are no where near ready to do anything remotely useful.
4. One does not simply "take down Bitcoin" it isn't run by a bunch of developers in a private chat group, it is run by EVERYONE. It is a massive snowball that cannot be shut down, it can only move forward.
5. The way Bitcoin upgrades (so far) is that a new type of bitcoin address is released with quantum resistant properties. Bitcoin is always backward compatible, so you and everyone else would need to transfer your bitcoin to yourself using the new format.
6. Satoshi's coins and people who don't move their money are POTENTIALLY at risk, but honestly, probably not.
7. People throw around how it will affect Bitcoin, but it's like saying how the Neuclear bomb will eradicate flies. Sure, but it can do a lot worse too. Guess what happened to that? It caused a stale mate around the world.
8. These articles are cope. Wishful thinking. At best it is confirmation bias and lack of any critical thinking. Even the comparison to gold is ridiculous... If you own gold, you at least have gold, but if you own bitcoin you have... Nothing? YOU HAVE BITCOIN BITCH. Its fundamental properties don't disappear for anything, it had them even when the thing had no market price.
9. Oh and another one: cash is used everywhere, bitcoin is not. IF THAT IS HOW YOU EVALUATE THE PROSPECTS OF A NEW BUSINESS POSED TO COMPETE IN THE MARKET, HOW ARE YOU NOT ALWAYS BUYING THE TOP OF EVERY MARKET AND SELLING THR BOTTOM?!?!
This deserves a zap! 🤙🏻 thank you!
