re: Bitcoin is dropping like a rock. Down to 99,200

I can’t believe people actually consider this crap an asset class.

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Quantum computing

Generative AI

Fusion energy

All three are possible within the next 20 years. No one knows what the implications are within their own fields of study much less to wider range of scope to include bitcoin. Lots of smart people speculating.

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With regards to security, its a function of math.

Take for example, BTC. Sha-256 which today means 3.31 x 10^56 years to crack.

With Quantum computing, Sha-256 basically turns it into 128 bits, 1.02 x 10^18 years to crack. Which is still next to impossible.

But you know, cryptographic hash functions such as Sha are upgradable. So again, its just a math function.

As we get closer, its going to be Y2K 2.0 with next to "nothing" happening...

Apple, Google, Microsoft, Banks, etc will upgrade without you likely even knowing.

Though theoretically, as it is a function of math, one could build a computer big enough to crack 1 BTC key but would likely, alone, consume hundreds of MW of power. For comparisons, the average power plant in America is around 50MW.

So yea, sure its "possible"...

With the capital it would take to crack 1 key, you are better off funding a private military and taking over a small country.

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Quantum computing can break crypto including bitcoin. The argument is it’s many years away. However, ai is speeding this process up ten fold.

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Well, in theory you don't even need a quantum computer to "break" crypto. Just about a trillion years.

Quantum computers use qubits compared to the bits of today. In other words, can use the 0. and 1 at the same time. Current Quantum computers have 100 to a few thousand qubits currently. For any quantum computer to break BTC today it would need at leas a million qubits of power and likely over 100 MW of power.

But again, everything, including BTC will just upgrade to quantum resistant hash.

I think the bigger question should be…if I buy an $84k BTC today, how many months do I have before I am forced to upgrade to a newer cryptocurrency?

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Never, why would you do that?

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Because the most recent line of argument in this thread seems to be that quantum computing will inevitably render BTC useless.

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Because the most recent line of argument in this thread seems to be that quantum computing will inevitably render BTC useless.

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Well no. My argument is its a "made up" issue in as much as your entire technical backend for life will be upgraded with advancements in quantum computing. Meaning, advancements in technology dont just work one way. With advancements in speed, compute, etc, we ALSO get advancements in security, stability, and efficiency...

I am only point out how incredibly "unrealistic" it is for quantum computing to break and/or make BTC useless.

Impossible would be the word I would use but mathematically its possible, but as I mentioned it would be so economically and time consuming its nothing to ever worry about.

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Because the most recent line of argument in this thread seems to be that quantum computing will inevitably render BTC useless.

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We're years away from that, if not decades. Even so, as TTT said, it would just fork to a new protocol. You wouldn't have to do anything.