CZ on the threats of quantum computers in crypto. He gave a good report, I think especially on the part about Satoshi's BTC because if it falls into the hands of hackers, it will bring BTC back to $5000. Read:
« I've seen people panic or ask questions about the impact of quantum computing on crypto.
At a high level, all crypto has to do is switch to quantum-resistant algorithms (post-quantum). So, no need to panic. 😂
In practice, there are some execution considerations. It's difficult to organize updates in a decentralized world. There will likely be a lot of debates about which algorithm(s) to use, which will result in some forks.
And some dead projects won't update at all. This could be a good opportunity to clean up those projects anyway.
New code could introduce other bugs or security problems in the short term.
People who hold their own keys will need to migrate their coins to new wallets.
This raises the question of Satoshi's bitcoins. If these coins move, it means he/she is still around, which would be interesting to know. If they don't move (over a certain period of time), it might be better to lock (or effectively burn) those addresses so they don't fall into the hands of the first hacker who cracks them. There is also the difficulty of identifying all of his addresses, without confusing them with those of old hodlers. In short, that's a different topic for later.
Basically:
It's always easier to encrypt than to decrypt.
More computing power is always good.
Crypto will remain, post-quantum. »
$BTC
#USNoKingsProtests #BTCETFFeeRace
« I've seen people panic or ask questions about the impact of quantum computing on crypto.
At a high level, all crypto has to do is switch to quantum-resistant algorithms (post-quantum). So, no need to panic. 😂
In practice, there are some execution considerations. It's difficult to organize updates in a decentralized world. There will likely be a lot of debates about which algorithm(s) to use, which will result in some forks.
And some dead projects won't update at all. This could be a good opportunity to clean up those projects anyway.
New code could introduce other bugs or security problems in the short term.
People who hold their own keys will need to migrate their coins to new wallets.
This raises the question of Satoshi's bitcoins. If these coins move, it means he/she is still around, which would be interesting to know. If they don't move (over a certain period of time), it might be better to lock (or effectively burn) those addresses so they don't fall into the hands of the first hacker who cracks them. There is also the difficulty of identifying all of his addresses, without confusing them with those of old hodlers. In short, that's a different topic for later.
Basically:
It's always easier to encrypt than to decrypt.
More computing power is always good.
Crypto will remain, post-quantum. »
$BTC
#USNoKingsProtests #BTCETFFeeRace