The common thought is that by the time quantum computing is capable of cracking bitcoin, there will be a crowdsourced quantum proof fix in place, things like XMSS, LMS, SPHINCS+, and Dilithium (all gibberish to me) are already being looked at. Quantum computing is suppose to require tens of million of qubits, current quantum computers are in the 100s of qubits range. The most “optimistic” estimates are decades at the earliest.
But ultimately, yea maybe it could crack bitcoin eventually, but if that’s ever the case, bitcoin getting hacked will be the least of our concerns. At best, traditional finance stuff will be just as cooked as bitcoin in that scenario. Your stuff at Fidelity Schwab etc cooked. Anything that requires encryption completely cooked. So if you want a quantum hedge, pickup up gold and burry it in the yard
Keep hearing people talk about how quantum computers are eventually going to crack bitcoin. Any good sources to read up on this?
MIT had a decent paper, cant find it right now. This one addresses it as well from security standpoint, https://cryptoconsortium.org/2024/06/27/ccss-2-02-data-sanitization-policy/
The common thought is that by the time quantum computing is capable of cracking bitcoin, there will be a crowdsourced quantum proof fix in place, things like XMSS, LMS, SPHINCS+, and Dilithium (all gibberish to me) are already being looked at. Quantum computing is suppose to require tens of million of qubits, current quantum computers are in the 100s of qubits range. The most “optimistic” estimates are decades at the earliest.
But ultimately, yea maybe it could crack bitcoin eventually, but if that’s ever the case, bitcoin getting hacked will be the least of our concerns. At best, traditional finance stuff will be just as cooked as bitcoin in that scenario. Your stuff at Fidelity Schwab etc cooked. Anything that requires encryption completely cooked. So if you want a quantum hedge, pickup up gold and burry it in the yard
$SWBI earnings was a disaster lol. Adding more sept. expiry calls?
I think it will benefit from Grab a Gun SPAC ($CLBR). Think I’ll dabble some more.
I have September calls so not too worried but yeah not ideal, can’t win em all.