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Why is Bitcoin so high?

2 点作者 r33b334 个月前
Q-day is coming. Encryption will most likely be broken within 5 years with quantum computers. Possibly sooner if we extrapolate accelerating advancements. This means old addresses will be up for the grabs. This means Bitcoin becomes unsecure. Big money knows this. Yet they still push this past $100k. Quantum resistant hard fork won&#x27;t be easy or smooth to implement.<p>The usual argument &quot;B-b-but banks will be insecure, too!&quot;<p>Not quite. For banks and centralized entities it will be way easier to implement additional safeguards and transfer to post-quantum cryptography. For decentralized cryptocurrency - not quite so.

4 条评论

ArtTimeInvestor4 个月前
<p><pre><code> Encryption will most likely be broken within 5 years with quantum computers. </code></pre> Says who? Someone from the internet?<p><pre><code> Quantum resistant hard fork won&#x27;t be easy </code></pre> For $2T in market cap, people will do things that are not easy.
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ggm4 个月前
1) q day isn&#x27;t coming. Certainly not soon. PQC work is in hand inside standards bodies. NIST made determinations here which people are following. Maybe blockchains will too.<p>2) it&#x27;s all speculative behaviour. The amount of non speculative behaviour in this market is tiny. It could be millions of non speculative transactions and still be swamped by whales and market distorting behaviours.<p>3) buying land or other real goods or investing in services and industry is better for the world, but your returns across diverse investment will tend to the longterm mean of 7% not speculative monster multipliers.<p>4) there is specific speculation of Trump constructing a US federal policy toward bitcoin, including taking a position inside it, or changing the regulatory landscape. I think it&#x27;s a bad idea but in these days, who can say bad ideas don&#x27;t get air time?<p>5) realised value from crypto trading incurs tax. Don&#x27;t be fooled into believing the gains won&#x27;t be taxed. Don&#x27;t be fooled into thinking they exist, are crystallised if they remain inside a chain. Nothing which generates this kind of value, speculative or not, avoids the eye of taxation, and forensic accountants I know say chains make tracing fraud and criminal assets and hidden profits easier not harder. The people who know how to avoid tax are the same people who kill for money. You&#x27;ll be conned out of your asset, your life or both, if you pursue this aggressively enough with enough value.
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greyface-4 个月前
Legacy quantum-unsafe P2PK outputs only represent about 10% of the current BTC supply. The other 90% are safe at rest - QC doesn&#x27;t pose a threat to SHA256 or RIPEMD160. An early Q-day would certainly be disruptive, but it wouldn&#x27;t destroy all value.
celticninja4 个月前
Finite resource, economics 101, supply and demand. That coupled with humans being irrational.
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