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If anyone is concerned about what might happen under a potential President Trump, hiss latest speech might give a few clues.


He went on with some big promises:


Trump also confirmed that he will appoint a crypto advisory council with "regulations written by industry-loving people within 100 days."

Trump also confirmed that "there will never be a CBDC" while he is president.


Additionally, the former president pointing out that


Promising to 'drill, baby, drill', Trump notes that with low energy costs the USA will become the undisputed bitcoin mining center of the world.

Finally, Trump dropped the big guns:


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would certainly agree with the dumping of Gensler, captive to the big players, he was never goping to ruin their money making machine.
The question is, will his potential replacement be any better for the rest of us?
Mick
Ya gotta larf.
So transparent.
As soon as Trump says Bitcoin is the future, the DNC gaurantees it won't.
No mention of BTC in the Harris DNC manifesto, almost as if it does not exist.
Trump says he will fire Gensler.
No there is talk that Harris would install Gensler as Treasury Secretary.
Whoever wins will be most unlikely to have any great control of BTC, but it does not stop them pretending they ca control it.
Mick
 
As the logarithmic improvements in Quantum computing start to roll out, one aspect of its use should be of concern to crypto currencies of all persuasions.
The use of very high prime numbers *4096 bits) that are used in Cryptos as well as banking, defence security etc may well become vulnerable to the sheer computing power of Quantum computers.
They are a long way off currently, but unless the security people develop something other than RSA, the vulnerability of everything that relies on it will escalate.
Its not a problem till it is.
Mick
 
As the logarithmic improvements in Quantum computing start to roll out, one aspect of its use should be of concern to crypto currencies of all persuasions.
The use of very high prime numbers *4096 bits) that are used in Cryptos as well as banking, defence security etc may well become vulnerable to the sheer computing power of Quantum computers.
They are a long way off currently, but unless the security people develop something other than RSA, the vulnerability of everything that relies on it will escalate.
Its not a problem till it is.
Mick
Indeed, imagine quantum power in North Korea.. BTC would disappear overnight
 
As the logarithmic improvements in Quantum computing start to roll out, one aspect of its use should be of concern to crypto currencies of all persuasions.
The use of very high prime numbers *4096 bits) that are used in Cryptos as well as banking, defence security etc may well become vulnerable to the sheer computing power of Quantum computers.
They are a long way off currently, but unless the security people develop something other than RSA, the vulnerability of everything that relies on it will escalate.
Its not a problem till it is.
The improvements in QUANTUM computers is starting to follow Moore's law for "standard" computing chips.
The 1,000 QBIT is the next cab off the rank.
Once they get a 10,000 QBIT chip, no existing public key security systems will be safe.
Google have unveiled a 100 QBIT chip that is mind bogglingly fast compared to even the fastest standard sequential super computers.

Mick
 
The improvements in QUANTUM computers is starting to follow Moore's law for "standard" computing chips.
The 1,000 QBIT is the next cab off the rank.
Once they get a 10,000 QBIT chip, no existing public key security systems will be safe.
Google have unveiled a 100 QBIT chip that is mind bogglingly fast compared to even the fastest standard sequential super computers.

Mick

Need to keep a close eye on this.
 
Are you concerned that a quantum computer would quickly create the remaining unsolved BTC?
Thereby making them only worth what someone is willing to pay for it without any intrinsic value at all.

I followed a few arguments on this yesterday and the answer from bitcoin companies is yes and no. It is a concern, but the btc protectives are

  • Willow the Google Quantum is unable to do it atm
  • BTC will develop cyber protection against it.
  • Quantum can make BTC itself more difficult to be hacked.
Sorry for butting in. I decided to have a sides of BTC with my lunch one day after Ole The Donald started selling it.

Below are a few free access articles which summarise nicely what I know on Quantum/Willow and BTC.




gg
 
Are you concerned that a quantum computer would quickly create the remaining unsolved BTC?
Thereby making them only worth what someone is willing to pay for it without any intrinsic value at all.
Creating the last few BTC in a day would have a limited effect, a one off oversupply; the real issue is that computer can crack any key and so just steal your BTC.
Not that money would be safer at the bank, as all passwords would be cracked at will including your bank IT admin password.
It is probably possible to make a password quantum safe, but it is not currently.
Same for any crypted text, document.
 
Are you concerned that a quantum computer would quickly create the remaining unsolved BTC?
Thereby making them only worth what someone is willing to pay for it without any intrinsic value at all.
Yes, but I believe it would be anything digital related. That includes all online transactions. This is a case of the most powerful computer wins.
 
I followed a few arguments on this yesterday and the answer from bitcoin companies is yes and no. It is a concern, but the btc protectives are

  • Willow the Google Quantum is unable to do it atm
  • BTC will develop cyber protection against it.
  • Quantum can make BTC itself more difficult to be hacked.
Sorry for butting in. I decided to have a sides of BTC with my lunch one day after Ole The Donald started selling it.

Below are a few free access articles which summarise nicely what I know on Quantum/Willow and BTC.




gg
It's not a threat yet. But something to watch. They are basically creating a digital God with these computers.
 
There are plenty of actors in the world who are storing encrypted files in the knowledge that although at the time of copying it is "unbreakable", at some point in time, the encryption algorithm that they were created with will become breakable.
Then they will be able to decode the files.
Some stuff will be obsolete and out of date, other stuff of historical interest only.
But there will be defence data, trade data, scientific and technical data, and just stuff that the originators would not have wished to see the light of day.
And people will make use of it, for both good and evil.
Mick
 
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