/biz/ - Business & Finance

delusional shitcoiner cope LOL your bags are melting, aren't they?

>>56496642
bump

>>56496750
>>56496642
nice FUD

>>56496642
CIA faggot.
Real problem is Bitcoin is a western intelligence invention.
SHA-256 made by NSA.

>>56496642
“Quantum” anything is fake Jewish science fiction

bumping this !critical! information

>>56497414
>Bitcoin is a western intelligence invention. SHA-256 made by NSA.
if this was true, you wouldn't have congressmen and senators calling for Bitcoin to be banned

>>56496642
>Other cryptos are fine
Both of these apply to many other cryptos though and have nothing to do with the etf.

>>56496642
>1) FACT: Bitcoin has a major quantum vulnerability.
Entirely speculative
>As miners begin to front run other miners to grab what liquidity is available, cataclysmic price drops are guaranteed.
If this was going to happen it would have happened already
Take your schizo garbage to /x/

Op is definitely not a faggot

>>56496642
>1) major quantum vulnerability
>this includes satoshi's coins
The attacks that quantum computing enables require information (the public key) that isn't available until after the first transaction is seen.
Until the first transaction spending an output, all that is known is the hashed version of the recipient key (aka the address) which isn't enough to mount the attack.
>2) proof of work algorithm in a state of hyper-overleverage
>When the price falls, they must sell more and more bitcoin to continue operating
And then it becomes unprofitable and some of them stop mining, and difficulty decreases, which makes it easier to mine, and more people start to mine as it becomes profitable again.
>>56497414
>Bitcoin is a western intelligence invention.
>SHA-256 made by NSA
Completely irrelevant retard thoughts, the sha256 algo is open source, it's not some black box you have to trust anyone with, you can write your own implementation and verify it does exactly what it should each step of the way.

>>56498032
>The attacks that quantum computing enables require information (the public key) that isn't available until after the first transaction is seen
satoshi signed with numerous addresses currently holding hundreds of thousands of coins. there is an unknown number of dead addresses that also have public signatures

>>56497943
NPC tier logic

>>56498080
>satoshi signed with numerous addresses currently holding hundreds of thousands of coins
I don't believe you, but it's easy enough to verify surely you can provide a few of those addresses?
It's irrelevant either way though.
>there is an unknown number of dead addresses that also have public signatures
It's about 4 million BTC, and even then it would require millions times more power than the current quantum computers to do it 1 (one) time, nobody is going to get millions of BTC from these dead addresses overnight. And if they somehow did, it wouldn't be in their interest to dump it all.
Not even a big deal for BTC if they did though since it'll basically be like taking the total circulating supply from 17m to 21m. Not even a fraction as bad as the US printing 80% of the total supply in 2021.
Any way you slice it its a nothingburger.

>>56498182
satoshi has over twenty thousand addresses. there are also hundreds of thousands of bitcoin distributed to pay-to-ip addresses created by broadcasting the public key of the recipient address.

the chain getting quantum hacked is not nothing, an attacker has no obligation to care about the health of the bitcoin blockchain, they will drain liquidity out of the system for as long as fools continue to buy into a hacked and insecure chain. the suggestion that no one will care is absurd

China disaster for judens?

>>56498237
>satoshi has over twenty thousand addresses.
Can't list any of those addresses that he's sent a transaction with, huh?
>the chain getting quantum hacked is not nothing
It's not the chain, the attack surface is exclusively inactive addresses that sent an outbound tx before 2016 and kept coins on their old address, and lost their private key.
>an attacker has no obligation to care about the health of the bitcoin blockchain, they will drain liquidity out of the system
If they're doing this attack then they're likely after money, and dumping all of it immediately is going to cost them more than slowly selling over years. Eventually they'll run out though.
>buy into a hacked and insecure chain
Okay now I know you're just trolling, bye

Quantum resistance is already built into Bitcoin, if you go and look at the code you would know that. Every "quantum" concern that has had an article about it is clickbait.

1. The last thing you should worry about is Bitcoin when quantum computing, worry about the internet

2. This has been the case ever cycle

>>56498237
Then we will just blacklist the old addresses
if you didn't move them by now they are considered lost
very easy fix

>>56496642
and 2) was already proven wrong by every bear market. In reality it's the other way around, price drops decreased with a higher bitcoin price

>>56496642
>doomsday event
Yeah thats what I would do if I snagged 4m BTC. I would crash it immediately, approaching zero unironically. It would actually make it stronger by greater distribution.

>>56496642
Post your short

>>56496642
I agree. It isn’t as safe as gold. There is some risk. I am willing to take that risk though, and though I may fall. Bitcoin will live on.

>>56496642
So basically Bitcoin will drive quantum computing breakthroughs as there is big bounties in Bitcoin waiting for the ones who build the best biggest quantum computer. How is this bad exactly? Why would the operator of the quantum computer "dump the market"? They obviously spend hundreds of billions of dollars , if not trillions. to build the quantum computer. The rewards are hundreds of thousands of Bitcoin. Totally fine. , up to a few million Bitcoin

>>56496642
haircomb token solves this
in a shorter time frame, aren't ETH ETFs much more dangerous security-wise?
not 100% sure, but don't only a few asset management funds manage well over half of all ETFs?
If they held the underlying assets, they'd theoretically be able to own over half of all eth and manipulate the chain.
This assumes half the supply is even liquid enough for them to take, but if that's possible then it seems like it could happen faster than quantum attacks.

>>56496642
the hardest thing humanity will face in coming 20 years is going to be: what to do with nocoiners.
we're currently in the phase were old state model / state money is collapsing and new btc powered citadel city-states are ascending.
Over time, nocoiners have consistently shown themselves as being irrational, hateful, and possessed with oppositional defiance.
the question is what to do with them? do we put them in camps? do we just let them subsistence gather on the trash heaps on the outskirts of the citadels? do we stealthy give them vaccines to limit their reproductive abilities?

>>56496642
>software doesn’t change

Lmao…lmfao!!!!!

>>56499765
It's kinda funny cause shitcoin chains (hard) fork all the time. The quantum computer fud is really trash tier. Just fork and move to a protected chain.

>>56496642
Actually kinda based ngl.

>>56496642
1) is unfounded fearmongering. Quantum decryption might be a problem 10-15 years from now, but we have many years of foresight and runway to approach the problem. The fact that the only real reference to the mechanics of quantum decryption in your post is Shor's algo and the rest is just spurious bullshit, I can conclude you've learned all this from journalists and don't know what you're talking about. Worry less, study more.

2) the miner sell cascade you talk about happens every 4 years because of something call a halving cycle. It's basically a cheat code for free money and we've all been abusing it for around 12 years now.

I fucking hate this flavour of newfag that gets drawn in just before the halving. Every fucking cycle.

>>56499808
>I fucking hate this flavour of newfag that gets drawn in just before the halving.
op is a permabull, gigachad, btc supremacist
this type of pseudo-intellectual fud is designed to work against homo nocoiners to keep price suppression to allow for accumulation.

>>56498315
He doesn't need to list the addresses retard if you know the basics of bitcoin histort then you know the earliest way of sending/spending btc was a scheme developed (and used) by Satoshi called Pay To Public Key (P2PK). Use google dumbass.

>>56499772
It's kinda funny because btc maxi's entire value proposition for btc is that it never changes. If change is allowed, then why not use one of the many chains that already changed to make things work better/more efficiently/to add more features. We aren't talking about a small change either, because as OP said even if you update to a new quantum resistant Pay-To scheme going forward all of the btc still being held by addresses that used old schemes and that exposed their public key will remain vulnerable.

On the surface one idea would be to basically create a new chain and credit all unspent utxos from the old forward to the new, except that that could only work by crediting utxos to the old public keys (otherwise how would the owners ever access them on the new chain) and so would still be vulnerable on the new chain.

Only solution I see would be to basically freeze/invalidate all utxos from vulnerable address schemes. Pretty heavy handed though.

>>56500476
Btc does change

>>56498100
Y.. y..mm.....yur an npc ! And um a poc! Post Dick Pic or hey get out? I'm not gay I just wanna verify that you have foreskin and compare size, if I could get the top of your stomach and stretch your balls too. So I can make sure your trustwerthy. Plz financially speaking

Wrong, did not read. I will buy BTC right before the ETF's are released and I will also buy Blocklords around the same time, as well as loading up on ETH and KAS. Thanks for your opinion though.

>>56499826
>op is btc supremacist
I don't think he is. I think he's probably an eth tranny.

>>56496642
38K next bres

>>56499760
They will be forced to accept digital money like they did with paper money, when they traded with all kinds oft shit

>>56499758
I doubt an etf would hold more then a few percent but yes in theory