Am I the only one who’s delusional or the world has gone mad?
Can someone explain why Bitcoin isn't crashing due to quantum?
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Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#2Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#3The world will have bigger fish to fry if "encryption" gets cracked around 2027-2028. I doubt it will, but anyway assuming it does then they will switch to quantum resistant encryption algorithms instead.
Also, you can’t really switch Bitcoin to quantum-proof algo. It’s pretty much inpossible.
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#4The world will have bigger fish to fry if "encryption" gets cracked around 2027-2028. I doubt it will, but anyway assuming it does then they will switch to quantum resistant encryption algorithms instead.
That doesn’t explain Bitcoin’s price. Even if what you say is true, assuming BTC gets cracked within 2-3 years, smart money would get out of it and would go into real estate, land and physical assets instead. Why isn’t this happening? I mean anyone who is able to graso exponentials and there are a LOT of people who can, will come to same realization. Also, you can’t really switch Bitcoin to quantum-proof algo. It’s p…
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#5Earlier quoted context omitted.
That doesn’t explain Bitcoin’s price. Even if what you say is true, assuming BTC gets cracked within 2-3 years, smart money would get out of it and would go into real estate, land and physical assets instead. Why isn’t this happening? I mean anyone who is able to graso exponentials and there are a LOT of people who can, will come to same realization. Also, you can’t really switch Bitcoin to quantum-proof algo. It’s p…
You could consider the price functions as a prediction market; it's telling you smart money doesn't believe it will be cracked around 2027-2028.
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#6See the recent research paper about recreating quantum factoring records using a dog, an abacus, and a vintage computer
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#7Earlier quoted context omitted.
You could consider the price functions as a prediction market; it's telling you smart money doesn't believe it will be cracked around 2027-2028.
Look, even experts say Bitcoin will be cracked at 2030 worst. That’s only 5 years away. Even if it’s 5 years, not 2, why is it 110k? Gold should be outperforming BTC, but it isn’t. What am I missing???
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#8Bitcoin has no intrinsic value. It is no different than beanie babies, baseball cards or any collectibles from the past that people thought would make them rich.
The power of bitcoin is in hodling - convincing people to never sell, so the price will keep going up ad infinitum. Once that belief fades away, the entire thing will collapse like a house of cards.
So to answer your question - bitcoin has not crashed yet because it is all about irrationality. Once rationality pops its head up and people start waking up from the dream, it will be over. The quantum computers have nothing to do with it. Not only the hodlers do not even understand bitcoin and crypto, but even if it were out already, people would not believe it until they would read it in the news and bitcoin would be already crashing. And likely even then they would just spam the internet with diamond hands and refuse to believe it is over(again, irrational behavior).
Personally, I absolutely hate that some-people, some-where, some-time ago, hijacked the idea of crypto currency and turned it into an investment instrument, which it is not. Crypto is a beautiful idea that would have worked miraculously if deployed into the real world as intended and we could have had nice things, but we got hoodwinked and it turned all crypto to shit.
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#9Earlier quoted context omitted.
Look, even experts say Bitcoin will be cracked at 2030 worst. That’s only 5 years away. Even if it’s 5 years, not 2, why is it 110k? Gold should be outperforming BTC, but it isn’t. What am I missing???
This reminds me of the bitcoin death predictions website. I don't know if it's still around but if it is then it probably has thousands of predictions by now.
Re: Can someone explain why Bitcoin isn't crashing due to quantum?
#10Current 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