Re:Former US SEC attorney: 'Get out of crypto platforms now'
by lamontcg on Tuesday June 20, 2023 @06:59PM
(#36411915)
Most of those concerns though are covered by "failure of an entity" -- which could be inherent through bad business practices, or it could be regulatory.
A quantum computer breakthrough that destroys BTC does really fundamentally cause BTC to fail as an algorithm, which is a bit higher level.
I don't think that is likely, and we don't really have AGI, although LLMs are great for certain kinds of queries and polishing language or doing boilerplate coding.
Re:Former US SEC attorney: 'Get out of crypto platforms now'
by anonymouskimmer on Tuesday June 20, 2023 @07:09PM
(#36412025)
You don't need a "nation-state", any old sovereign state will do fine.
I've read that various cryptocurrencies (including Bitcoin) are/have worked on quantum-proof verification algorithms. Not sure what it entails, but people are working on it.
Mining made illegal by locales, states, or countries -- because of energy pricing.
BTC transfers made illegal through law or made undesirable in some way (say KYC but with like actual teeth)
And then there's the long shot chance that a nation-state (China perhaps) figures how to program their quantum computers to break BTC algorithms, snatching away value, before investors even realize what even happened.
For the record, I don't think it would happen. But also I didn't think that AI would be a thing in my lifetime.