You're missing the point. Switching Bitcoin to post-quantum algorithms means a 200+ fold in the size of the blockchain. Currently the blockchain is around 150GB, that would place it at around 30TB. This isn't some decade+ transition which needs to happen, this is within 6 years at the outset. That means the concept of a distributed ledger goes away (most people don't even have 30TB, let alone the willingness to put 30TB worth of storage into use to buy some $100 trinket with Bitcoins.) This means the only way for Bitcoin to survive the post-quantum world is centralization, which goes against the beliefs of their core demographic.
Just because you can change an algorithm doesn't mean you can do so from a practical standpoint - at the current rate it's actually likely to be around 100TB by the time the change needs to happen, about 1PB by 2030. So tell me, are there any breakthroughs on the horizon to get multi-peta-byte hard drives into consumer PCs and are ISPs similarly likely to allow that kind of bandwidth usage at prices people are willing to pay? (Personally, I'd suspect bandwidth would be less of an issue if everyone is switching to post-quantum cryptographic schemes, but cryptocurrencies are really the only thing which require massive numbers of signatures to be stored to facilitate their existence, so the hard drive issue is a much bigger one.)
saying 97% of bitcoin is owned by 4% of addresses is a actually a pretty useless stat when you think about it.
I fully believe quantum computers will end Bitcoin, but saying 97% of Bitcoin is owned by 4% of the population is just saying it has better wealth distribution than the Dollar.
Buffett's fortune isn't predicated on the USD, most of it isn't even more than an estimate of the net worth of the companies he holds. Regardless of which currency is in use Buffett derives his wealth from the value of the companies he holds, not from what system that wealth is calculated in. Bitcoin derives its wealth from the black market, which is huge, but the markets Buffett is in are much larger.
He's right in the fact that this is likely a bubble. It will likely correct. I highly doubt bitcoin will ever return to zero
Bitcoin is fucked within a half decade, but not for the reason Buffett thinks (standard market forces alone likely won't do it.) Quantum computers are progressing at a rate akin to Moore's law when viewed in qubit densities, they're currently at just over 40 qubits. When they hit about 1,048 qubits Shor's algorithm becomes practical for cracking public key cryptosystems like ECDSA and RSA - so that's right around a half decade until Bitcoin security is worthless.
There are plenty of shills saying that Bitcoin will adapt, that they will just change the protocols, but this isn't the case. Then the smallest post-quantum cryptographic mechanism of signing involves public keys around a KB and signatures around 30KB. That means you need coins to register a wallet and you need 30KB of storage for every transaction. With the current ~128B message length the Bitcoin blockchain is already nearly unmanageable, if you talk about increasing that to 30KB per transaction you're looking at a blockchain that's into the dozens of TB (just for what exists now, before you get into the increase in usage expected over the next several years, so likely a PB-scale blockchain by 2023.)
That kills the distributed nature outright, sure it might continue along awhile with centralization (since only the super large miners will manage to afford the PB scale storage servers,) but at that point the only real advantage over banks who are also looking at adopting cryptocurrency-like products without the decentralization constraints will be money laundering so there will be extensive crackdowns driving away normal users.) Best-case-scenario Bitcoin turns into some upstart global banks where the largest mining farms end up as the banks, much more likely it will just burn out.
According to my last back of the envelope calculation, I'll be paying an extra 7% in federal taxes on my earned income ($60K per year) from my government IT job.
Then you should be hiring an accountant, because you're too incompetent to use a calculator properly.
There are no post-quantum cryptocurrencies. The issue is that a post-quantum signature is at a minimum 30KB. That's 30KB per transaction. It's not happening.
It's marked troll, but it really wasn't. Look up the patent - 5 engineers + David Rothschild owned it. One of the 5 engineers died a month or so before MH370 went down, the other 4 were on MH370 (along with a bunch of the rest of their company) on a business trip.
Question frequency on StackOverflow isn't a good indicator of use. Every question gets asked, then it just shows up in searches - StackOverflow has hordes of NAZI karma whores on the lookout for duplicate questions.
You only need superconducting temperatures for qubits. A few years ago there was actually a design for room-temperature qubit handling hardware, but all the engineers involved in the patent rights mysteriously vanished (**cough** MH370 **cough**.) Interesting, the Rotheschilds were the only other patent holder - so they hold the rights to room temperature quantum computing now.
The tipping point for quantum computers is around 30 qubits.
It's going to take about 1,048 qubits to break encryption efficiently enough to destroy things like Bitcoin. Not a lot considering quantum computer qubit densities are increasing at about the same rate as Moore's law - Bitcoin has about 5-8 years before it becomes worthless.
50 nation states with 50 different sets of laws. The only legitimate purposes of the federal government are to make sure they don't fight each other and to combine military force to make sure other nations don't invade.
The main cause of the coral reef die offs, is NOT global warming, but pesticides and agricultural runoff. But global warming lets the perpetrators of the destruction of the coral reefs to go scot free.
Sorry, but no. The biggest cause of coral reef die offs is Paul Allen (not even joking.) The guy is single-handedly responsible for 60-80% of the area of dead coral reefs because he likes parking his yacht over top of them for days to weeks at a time while the anchor drags around tearing them up. He took some heat for this about a decade ago but continues to do it (and focused on PR to try to cover it up and distract from it so he wouldn't have to give up his yachting trips over top of reefs.)
If you know anything about reptiles you'd know this happens in cycles to take advantage of food surpluses. Reptile eggs tend to be female when incubated at higher temperatures and male when at lower temperatures. Meanwhile, one male can impregnate many females. Generally speaking a warmer incubation temperature correlates with a warmer climate and in turn greater food supplies as it means more algae growth, more baitfish consuming the algae, etc. This means in a few years when the current clutches of sea turtles grow up with an increased percentage of females there will in turn be many more sea turtles produced in the next generation.
If anything, we should be looking at how to make Humans follow a similar trend. Not necessarily to reproduce at a higher rate like the sea turtles, but because it would be great to have something like a 4:1 female:male ratio (you just have to make sure the females come out bisexual so they get along in groups of several females per male instead of fighting, but if modern media is any indication that's really easy to control through environmental factors - the hard part is getting the birth rates adjusted.)
Also probably to lull criminals into a false sense of security. With backdoors and exploits in every chip the crypto is virtually worthless, but people don't put compromising information in their phones if they think they are compromised so they have to rant about how impenetrable they are such that criminals start using them again.
Slashdot Mirror
I checked, and your story is bullshit.
You clearly didn't because it isn't.
You're missing the point. Switching Bitcoin to post-quantum algorithms means a 200+ fold in the size of the blockchain. Currently the blockchain is around 150GB, that would place it at around 30TB. This isn't some decade+ transition which needs to happen, this is within 6 years at the outset. That means the concept of a distributed ledger goes away (most people don't even have 30TB, let alone the willingness to put 30TB worth of storage into use to buy some $100 trinket with Bitcoins.) This means the only way for Bitcoin to survive the post-quantum world is centralization, which goes against the beliefs of their core demographic.
Just because you can change an algorithm doesn't mean you can do so from a practical standpoint - at the current rate it's actually likely to be around 100TB by the time the change needs to happen, about 1PB by 2030. So tell me, are there any breakthroughs on the horizon to get multi-peta-byte hard drives into consumer PCs and are ISPs similarly likely to allow that kind of bandwidth usage at prices people are willing to pay? (Personally, I'd suspect bandwidth would be less of an issue if everyone is switching to post-quantum cryptographic schemes, but cryptocurrencies are really the only thing which require massive numbers of signatures to be stored to facilitate their existence, so the hard drive issue is a much bigger one.)
saying 97% of bitcoin is owned by 4% of addresses is a actually a pretty useless stat when you think about it.
I fully believe quantum computers will end Bitcoin, but saying 97% of Bitcoin is owned by 4% of the population is just saying it has better wealth distribution than the Dollar.
Buffett's fortune isn't predicated on the USD, most of it isn't even more than an estimate of the net worth of the companies he holds. Regardless of which currency is in use Buffett derives his wealth from the value of the companies he holds, not from what system that wealth is calculated in. Bitcoin derives its wealth from the black market, which is huge, but the markets Buffett is in are much larger.
He's right in the fact that this is likely a bubble. It will likely correct. I highly doubt bitcoin will ever return to zero
Bitcoin is fucked within a half decade, but not for the reason Buffett thinks (standard market forces alone likely won't do it.) Quantum computers are progressing at a rate akin to Moore's law when viewed in qubit densities, they're currently at just over 40 qubits. When they hit about 1,048 qubits Shor's algorithm becomes practical for cracking public key cryptosystems like ECDSA and RSA - so that's right around a half decade until Bitcoin security is worthless.
There are plenty of shills saying that Bitcoin will adapt, that they will just change the protocols, but this isn't the case. Then the smallest post-quantum cryptographic mechanism of signing involves public keys around a KB and signatures around 30KB. That means you need coins to register a wallet and you need 30KB of storage for every transaction. With the current ~128B message length the Bitcoin blockchain is already nearly unmanageable, if you talk about increasing that to 30KB per transaction you're looking at a blockchain that's into the dozens of TB (just for what exists now, before you get into the increase in usage expected over the next several years, so likely a PB-scale blockchain by 2023.)
That kills the distributed nature outright, sure it might continue along awhile with centralization (since only the super large miners will manage to afford the PB scale storage servers,) but at that point the only real advantage over banks who are also looking at adopting cryptocurrency-like products without the decentralization constraints will be money laundering so there will be extensive crackdowns driving away normal users.) Best-case-scenario Bitcoin turns into some upstart global banks where the largest mining farms end up as the banks, much more likely it will just burn out.
According to my last back of the envelope calculation, I'll be paying an extra 7% in federal taxes on my earned income ($60K per year) from my government IT job.
Then you should be hiring an accountant, because you're too incompetent to use a calculator properly.
There are no post-quantum cryptocurrencies. The issue is that a post-quantum signature is at a minimum 30KB. That's 30KB per transaction. It's not happening.
DWave*, sorry.
It's marked troll, but it really wasn't. Look up the patent - 5 engineers + David Rothschild owned it. One of the 5 engineers died a month or so before MH370 went down, the other 4 were on MH370 (along with a bunch of the rest of their company) on a business trip.
DLink already had around 20, Intel is just getting into it.
Question frequency on StackOverflow isn't a good indicator of use. Every question gets asked, then it just shows up in searches - StackOverflow has hordes of NAZI karma whores on the lookout for duplicate questions.
You only need superconducting temperatures for qubits. A few years ago there was actually a design for room-temperature qubit handling hardware, but all the engineers involved in the patent rights mysteriously vanished (**cough** MH370 **cough**.) Interesting, the Rotheschilds were the only other patent holder - so they hold the rights to room temperature quantum computing now.
The tipping point for quantum computers is around 30 qubits.
It's going to take about 1,048 qubits to break encryption efficiently enough to destroy things like Bitcoin. Not a lot considering quantum computer qubit densities are increasing at about the same rate as Moore's law - Bitcoin has about 5-8 years before it becomes worthless.
I hardly knew ye. Another ~1,000 qubits and it's fucked.
50 nation states with 50 different sets of laws. The only legitimate purposes of the federal government are to make sure they don't fight each other and to combine military force to make sure other nations don't invade.
No thanks, city people are incompetent, the founding fathers knew this and planned accordingly.
Dude, it's racist to say places are shitholes!
Nah, it's only racist to call shitholes shitholes.
Seriously. There has yet to be an unhackable computer built, elections are too important to have any electronics involved.
The "O! My god! The planet is overpopulated!" freaks would argue otherwise. Lets reduce females to 10% of the population ...
What in the mother fuck is wrong with you? No man can be truly happen without a harem (of bisexual women such that he doesn't get worn out.)
The main cause of the coral reef die offs, is NOT global warming, but pesticides and agricultural runoff. But global warming lets the perpetrators of the destruction of the coral reefs to go scot free.
Sorry, but no. The biggest cause of coral reef die offs is Paul Allen (not even joking.) The guy is single-handedly responsible for 60-80% of the area of dead coral reefs because he likes parking his yacht over top of them for days to weeks at a time while the anchor drags around tearing them up. He took some heat for this about a decade ago but continues to do it (and focused on PR to try to cover it up and distract from it so he wouldn't have to give up his yachting trips over top of reefs.)
If you know anything about reptiles you'd know this happens in cycles to take advantage of food surpluses. Reptile eggs tend to be female when incubated at higher temperatures and male when at lower temperatures. Meanwhile, one male can impregnate many females. Generally speaking a warmer incubation temperature correlates with a warmer climate and in turn greater food supplies as it means more algae growth, more baitfish consuming the algae, etc. This means in a few years when the current clutches of sea turtles grow up with an increased percentage of females there will in turn be many more sea turtles produced in the next generation.
If anything, we should be looking at how to make Humans follow a similar trend. Not necessarily to reproduce at a higher rate like the sea turtles, but because it would be great to have something like a 4:1 female:male ratio (you just have to make sure the females come out bisexual so they get along in groups of several females per male instead of fighting, but if modern media is any indication that's really easy to control through environmental factors - the hard part is getting the birth rates adjusted.)
Reat assured that's just the Asperger's getting in the way.
Are you some kind of wizard?
I defy you to look a silverback in the eyes and not see a near-human intelligence looking back at you.
As someone 5 standard deviations above average, I don't even see that when I look most other "Humans" in the eyes.
The Apple board is comprised largely of politicians and others with enough sway to get the FBI to give them free advertising like this.
Also probably to lull criminals into a false sense of security. With backdoors and exploits in every chip the crypto is virtually worthless, but people don't put compromising information in their phones if they think they are compromised so they have to rant about how impenetrable they are such that criminals start using them again.