Thanks for the writeup Nic. I would love to hear you your perspective on what the "man on the street" bitcoiner should be doing about this concern. Most folks don't have the audience you do. How does the general public exert pressure on this topic? Buy less BTC? Make the devs lives uncomfortable on Twitter? Just don't worry about it?
I think it's simply a matter of joining the conversation - online, mailing list, conferences, meetups etc. If enough concern is noted, I think this really shifts priorities at the major dev organizations Chaincode, Brink, Localhost, MIT DCI, etc.
Right now, most core devs I've talked to tell me they want "the community to decide" or give them some direction. Of course, this is kind of a crazy ask, since there is no way to quantify community sentiment, and this kind of model is vulnerable to sybil attacks, but I think we should take their request at face value and politely and firmly express our view, like I am doing here.
And re that quote of mine about the threat being a 9, I am not saying a QC is imminent, just that we probably have less than a decade to prepare, but it might take us the better part of a decade to get ready, hence the urgency
I appreciate that and understand the need for urgency in terms of getting prepared. When I started looking into the quantum computing risk, one of the first things I saw was you say that on The Aubservation and it definitely motivated me to get a better understanding of what was going on!
BTC is useless and going to zero. nick you got lucky, cash in your chips and find a new asset to put your net worth in.
Let’s do a thought experiment- the whole world actually falls apart into complete anarchy, fiat collapses to nothing and crypto is king - there are 300 million guns in America and it’s pretty easy to identify the bitcoin maximalists. How does that play out in your favor ?
This is a low likelihood scenario but if it played out all the pro crypto bros would be stuck in their bunkers and/or wishing they we not associated with crypto.
It still seems that no one *really* knows if quantum computing is going to be like dark fiber or cold fusion or what the exact impact of reverse engineering all previous cryptography will be. ¯\_(ツ)_/¯
The great unlocking will certainly reveal many things.
But be it FUD or a certainty that elliptical curve cryptography gets broken, the economics of 'de-risking' financial exposure to cryptocurrency would seem to dictate that whales will sell slowly, that Bitcoin & its attendant risks will become more broadly distributed/adopted, & yet again, a global systemic financial collapse of the debt based Ponzi scheme will probably be avoided.
Wow nice work 🤙👑👑👑👌
Thanks for the writeup Nic. I would love to hear you your perspective on what the "man on the street" bitcoiner should be doing about this concern. Most folks don't have the audience you do. How does the general public exert pressure on this topic? Buy less BTC? Make the devs lives uncomfortable on Twitter? Just don't worry about it?
I think it's simply a matter of joining the conversation - online, mailing list, conferences, meetups etc. If enough concern is noted, I think this really shifts priorities at the major dev organizations Chaincode, Brink, Localhost, MIT DCI, etc.
Right now, most core devs I've talked to tell me they want "the community to decide" or give them some direction. Of course, this is kind of a crazy ask, since there is no way to quantify community sentiment, and this kind of model is vulnerable to sybil attacks, but I think we should take their request at face value and politely and firmly express our view, like I am doing here.
I put together this piece that you might be interested in Jackson. Covers some practical considerations also. https://adaptiveanalysis.substack.com/p/bitcoins-quantum-computing-risk-from
Good article!
The more discussion the better
And re that quote of mine about the threat being a 9, I am not saying a QC is imminent, just that we probably have less than a decade to prepare, but it might take us the better part of a decade to get ready, hence the urgency
I appreciate that and understand the need for urgency in terms of getting prepared. When I started looking into the quantum computing risk, one of the first things I saw was you say that on The Aubservation and it definitely motivated me to get a better understanding of what was going on!
BTC is useless and going to zero. nick you got lucky, cash in your chips and find a new asset to put your net worth in.
Let’s do a thought experiment- the whole world actually falls apart into complete anarchy, fiat collapses to nothing and crypto is king - there are 300 million guns in America and it’s pretty easy to identify the bitcoin maximalists. How does that play out in your favor ?
This is a low likelihood scenario but if it played out all the pro crypto bros would be stuck in their bunkers and/or wishing they we not associated with crypto.
So make a bet on 2030 so we can bet against you and laugh at you
It still seems that no one *really* knows if quantum computing is going to be like dark fiber or cold fusion or what the exact impact of reverse engineering all previous cryptography will be. ¯\_(ツ)_/¯
The great unlocking will certainly reveal many things.
But be it FUD or a certainty that elliptical curve cryptography gets broken, the economics of 'de-risking' financial exposure to cryptocurrency would seem to dictate that whales will sell slowly, that Bitcoin & its attendant risks will become more broadly distributed/adopted, & yet again, a global systemic financial collapse of the debt based Ponzi scheme will probably be avoided.