51–55 of 55 posts
Why do you think quantum computers are going to get that good in the next couple of years? I suspect the odds of that happening are approximately zero.
Because advanacements accelerate with geometric progression, not linear one.
Current quantum computers are toys for physicists that are of zero practical use. See the recent research paper about recreating quantum factoring records using a dog, an abacus, and a vintage computer
Did you read what I said? Extrapolate with exponentials. Smart people do this.
Earlier quoted context omitted.
Your argument makes no sense. Many things can become bubbles. Land can be bubble, physical gold can be bunble, oil rigs in the sea can be bubble. Yet people choose to focus on Bitcoin which WILL be cracked by quantum, and not physical gold which will NOT be cracked by quantum. According to this knowledge, physical gold, land and emerald mines are severely underpriced and Bitcoin is severely overpriced. How am I wrong…
Bitcoin is not unique in being hard to block, in fact it's not particularly good at it compared to some other cryptocurrencies. So why should Bitcoin have the largest market cap of any chain, and why should it be worth anything near what it is if it's main purpose is as a medium of exchange and not as a buy-and-hold asset?
Look up Gresham's and Thier's laws for the quick answer
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I do understand all of that. But all of that makes sure that Bitcoin will never function as a currency, as outlined in the reasons above.
Yes, and it doesn’t have to function as currency. We have enough of those already!
Bitcoin will go up for ever when priced in government tokens, or likely anything else for that matter.
> Can someone explain why Bitcoin isn't crashing due to quantum? Because the current state of the art in Quantum can only factor 2 digit numbers (maybe) and are probably decades away or breaking traditional encryption or Bitcoin. > Smart entities are able to extrapolate and understand that quantum computers will be able to crack encryption before 2030 due to accelerating advancements both in intelligence and quantum…