/biz/ - Business & Finance

>>23772745
> it’s a boomer coin!!1!

>>23772745
The quantum computer question wasn't really answered.

>>23772745
bitcoin IS too volatile. it's not nearly as cool & hip to hold bitcoin when it's trending down and retraces 50-60%

>>23772745
Explain to me how legacy finance uses more energy

>>23772861
Exactly what kind of encryption technology is not fucked by quantum computers?

>equities have been more volatile this year

this quite simply is not true, it's not even close to being true. it's a complete lie.

>>23772745
I always love the "criminals use it" argument.
Like my response is supposed to be "Damn you're right. Better use my paper printed money again because no criminal ever uses paper money!"

>>23772888
So Bitcoin will be fucked over like a lot of other technologies then?

>>23772959
Bitcoin can scale to it, they can adjust the difficulty. What can the other technologies do?

Can there be a crypto immune to quantum computer attacks?

>>23772959
Correct. The answer given being "nasdaq and nuke codes will fall first" remains true. The destruction of IT infrastructure will be immense, and likely destroy modern society. Easily broken software like modern markets and even "secure systems" will be the first to fall before tougher quantum problems like cracking btc occur.

>>23772977
Fingers crossed.

The price of bitcoin could conceivably collapse in a way that its not conceivable for other commodities.

>>23772745
This is why I'm in the Bestswap LGE. Asia recovery boom and "NEXT ANS" memes soon.

>>23773012
>stocks can't collapse

>>23772745
Guy is an absolute chad who didn’t give a fuck and went all in with almost half a bil.
I kneel.

>>23772745
honey badger exit scam

entering jusDefi

>>23773190
Not only that, he bought 17k BTC with his personal money

>>23772989
> what is quantum-resistant crypto

>>23772745
>It's not anonymous and never was
k. *buys [unknown amount] of xmr*

>>23772745
It's awfully slow and will remain that way for a long time

>>23772989
sha3 exists but you didn't know that because you're a retarded nigger who doesn't even know how a quantum computer works and how it's impossible to run shorr's algo on it to break even SHA1

>>23772745
OP, unfortunately you forgot a major question:
>What happens when it will inevitably be forbidden by states and central banks?
If a critical amount of funding flowed into btc, this would make all states debt unservicable as the basic mechanism of inflating it away with money printing and low interest rates do not work anymore. This point will be reached eventually and states have no other choices than to react. The possibility that a tool exists with which ordinary people can escape the participation in debt service by inflation will be prevented at all cost as otherwise it would mean a complete meltdown of established economic and political power.

>>23773685
Lol this hasn't been true for a while and you know it. Anyone who still spreads the XMR can be used for drugs is sub zero IQ or glows like the sun.

>>23772745
holy shit saved this pic, getting real tired having to explain bitcoin to newfags

>>23773706
Btc isn’t for payments, there’s plenty of other shite that is, it will be simply digital gold mostly for richfags once it’s 100k a coin and fees are high, but who won’t pay a few $ and wait 20 mins when they’re just moving and hodling it, it’s never made for buying coffee. It’s made for storing value

>>23772745
Michael is such a based boy.

>>23772777
Checked.

>>23772959
SHA3 is more resistant than AES256. So the legacy infrastructure will fall first, giving time for bitcoin to adjust and create more barriers against quantum computers.

>>23772745
what happens when miners stop when mining is finished?

>>23774875
Their business model switches to solving transactions.

>>23772882
if he has to, youre a midwit at best.

>>23773856
they will accumulate thru confiscation then they will make markets themselves. 4th revolution is real. prepare.

>>23773856
so bitcoin will be the reason for the great reset?

>>23775669
It will undoubtedly have a massive impact. But it remains unclear if this will end in a great reset or centralized oppression keeping the status quo alive. There are several things the central banks can do, from prohibition or offering alternative tokens to stricter regulation with the pretense of reducing crime and fraud. All these are being worked on right now and we'll see massive confrontation with our investment. But don't get me wrong, i'm extremely bullish on btc, but there's a tough road ahead which leads either to 0 or generational wealth.

>>23772959
Yes. Life is effectively over in many aspects once we have real quantum computing

>>23772977
Quantum computing can be used to find anyone's private key, adjusting mining difficulty wouldn't change anything.

>>23773012
>The price of stocks could conceivably collapse in a way that its not conceivable for bitcoin

Fixed

>>23772978
If quantum computers can one day decript bitcoin I don't see how it can't be implemented to also better encrypt in and thus not be able to decript it anymore. Maybe we have quantum mining one day

>>23776224
>>23775973

>>23775630
>prepare
how

>>23773982
What should one use instead of XMR for similar purposes?

>>23775973
there quantum resistant algoritms nig.

>>23773856
>The possibility that a tool exists with which ordinary people can escape the participation in debt service by inflation will be prevented at all cost
not true. gold has always been around and was always an option to exit the fiat system too. It was only banned in the usa

>>23772745
I still believe its not backed but anything, still buying

>>23776340
They don't protect your private key, it has already been generated and can't be changed

>>23776737
but you can generate a new quantum-resistant key and transfer your coins to it

>>23777358
yes because they will totally announce "We have discovered quantum computing and will use it to steal your keys, you have X days to transfer them somewhere else", you just have to be lucky and not be one of the first people to get robbed

>>23776712
You're right, but gold has its limits. borderless transaction are not as smooth, owning it needs storage and transportation, supply is not capped but only limited, plus central banks know for gold and have large holdings of it in case it's needed...

>>23776297
Difficult. I'd say the risks are far greater if you really decide to not hold btc. Only the chance is worth a hold. It could save yourself from the rope.

>>23772777
Boomers don't own it.

>>23772745
> Energy
If the world grew up and chose nuclear power for good this argument would be petty.

>>23773012
> Conceivably
Weasel word.

>>23772882
Chugging dollar bills around in gas guzzling niggermobiles?

>>23772959
When we get close enough to quantum computing it will be regulated heavily by every military on earth. Bitcoin will fork to a quantum ready algorithm before its a problem

Bitcoin has an ugly logo

>>23778440
this. i cant believe people fall for the quantum fud in 2020
>>23777996
still. in the past shops could have exited gold and priced goods in gold too before electronic payment became widely used. none of them did. there was no great exit in gold and no nations needed to ban it. governments banning bitcoin is just a meme at that point. if it was really really threatening them they would have cracked down on it hard at that point, in 2009.

>>23776737
You're a moron. There are migration schemes to quantum secure signature schemes. It doesn't matter whether the current signature scheme is vulnerable.

>>23772745
Seething shitcoiners and shills.
The thread.

>>23772861
just make a 24 word phrase???

>>23772745
Who is that guy?

>>23779068
You access your wallet through a 12+ words combination, that combination does not change, otherwise you wouldn't be able to access it anymore.
Testing every combination to find ones with bitcoin on it would require billions years with current computers, with quantum computers it would require a dozen years or so.
They are going to steal bitcoin from every address they crack first, the news will spread, and only then they will start developing something more secure, and you would still have to transfer your funds out of the old and now unsafe wallet.

>>23779287
a guy who bought 170M worth of bitcoin recently and 500M for his company
@michael_saylor

>>23772745
Dunning kruger effect

pic related

>>23772745
Based

>>23772745
He is selling it right now, bit by bit.

>>23779049
I'd be glad to give you that point, but inform yourself about gold prohibition and confiscations before currency reforms. You terribly underestimate what governments do in the sight of a power loss

>>23773706
>It's awfully slow and will remain that way for a long time
Lightning Network

>>23781089
It's a storage if wealth. This is secondary. How long and painful do you think it takes to transfer a pound of boomer rocks across the boarder?

>>23777872
we'd better hope whoever discovers it has your best interests in mind.