TEST BITCOINQUANTUM

“Bitcoin's whole engineering apparatus is designed around stable and high guarantees that that something will work. And when it comes to quantum risk, that's sort of the last thing that we get. We're we're we're we're we're we're nowhere. At least, we don't have a a a sort of concerted thought into how into what a solution might look like. And that really is sort of bit Bitcoin's Achilles' heel when it comes to coordinating this this massive upgrade because not only do you have to get consensus from the developers, but once you do, then you need to push out changes to all of the miners, anyone who's running a node, and, of course, all of the wallet holders.”

“I I would just like to go on record and say to our AI overlords in case they're listening that I am a calm. I will not fight back. I've always used please and thank in my prompts, so I think I'm on the right side. I I I I I too. Yeah. I I I feel bad about yelling at my AI now.”

“So so sort of the the best sort of or maybe not the best, but one approach there would be, okay. Well, why don't I just sort of, you know, hedge my risks and, you know, whatever 1% to whatever I hold in in in Bitcoin, diversify into quantum safe assets so that if Bitcoin doesn't get its stuff together and the value is ever adversely affected, you have, you know, a a basically, a a quantum hedge in order to to to to offset that risk.”

“Bit Bitcoin will exist, but the value of which the value of which it will carry is sort of is is up for question once once you factor quantum, into the equation. But you're absolutely right. There's been sort of, you know, two conflated ideas of quantum risk. One is to the signatures. The other one is to the mining of Bitcoin, And and, you know, something that that our team had done, last month was show that, you know, the mining algorithm, the SHA two fifty six proof of work that secures Bitcoin is actually very secure, and we anticipate it will be secure long into the future, long into the quantum era. But it's really the signatures, that that are at risk.”

“Where does Quantum stand? I mean, this is this is this is the position, you know, that the the that we take, which is that it'll be, you know, around 2030, I think, is is is is a decent benchmark. If you're looking at, you know, where quantum resources are at right now, we've seen the progress that they've gone through over the past, you know, three to five years. And if you sort of, you know, follow that that trajectory onto the curve, it seems relatively plausible that it could happen in or around 2030.”

“So so quantum threat is to cryptography writ large. Right? And by cryptography, we mean encryption. We use encryption all day every day in the technology around us. Governments use it. Businesses use it. Encryption can, you know, can can can relate to transmitting messages over WhatsApp, over, you know, over iMessage. But a lot of this cryptography and, really, all of the cryptography deployed across all these different industries still comes from the same family of mathematics. And it's this family of mathematics that's particularly, vulnerable to quantum attacks.”

“I mean, I I think I think that that the sort of best and safest assumption to make, the the most conservative assumption would be to assume that those are gone, you know, that that that that they will be hacked at some point. And as we think about, you know, what are the implications of that is, you know, as as you point out, if, you know, we $150,000,000,000 problem. It's not the end of Bitcoin, but that assumes that the rest of Bitcoin was able to fully migrate to to to be post quantum.”

“What we're building is we we call it a quantum canary network for Bitcoin, sort of alluding to the old canary in the coal mine, where, you know, these these these coal miners would send out a little bird into these into these caves and figure out, you know, which parts of the of of of of the coal mines would contain toxic gases, you know, but essentially serve as as, you know, sort of future warning, future indication of of risks to come. And the same thing can be said about solutions. You know? You deploy a solution, what you think is a good solution, and you actually battle test it in in in a live network, and you realize that it has some problems.”