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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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23772745 No.23772745 [Reply] [Original]

What arguments are left?

>> No.23772777

> it’s a boomer coin!!1!

>> No.23772861

The quantum computer question wasn't really answered.

>> No.23772871

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

>> No.23772882

Explain to me how legacy finance uses more energy

>> No.23772888

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

>> No.23772893

>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.

>> No.23772898

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!"

>> No.23772959

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

>> No.23772977

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

>> No.23772978

Can there be a crypto immune to quantum computer attacks?

>> No.23772989

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.

>> No.23772999

Fingers crossed.

>> No.23773012

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

>> No.23773016

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

>> No.23773058

>stocks can't collapse

>> No.23773190

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

>> No.23773594

honey badger exit scam

entering jusDefi

>> No.23773600

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

>> No.23773659
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> what is quantum-resistant crypto

>> No.23773685

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

>> No.23773706

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

>> No.23773708

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

>> No.23773856

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.

>> No.23773982

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.

>> No.23774776

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

>> No.23774800

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

>> No.23774831

Michael is such a based boy.

>> No.23774846


>> No.23774867

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.

>> No.23774875

what happens when miners stop when mining is finished?

>> No.23774945

Their business model switches to solving transactions.

>> No.23775583

if he has to, youre a midwit at best.

>> No.23775630

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

>> No.23775669

so bitcoin will be the reason for the great reset?

>> No.23775897

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.

>> No.23775929

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

>> No.23775973

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

>> No.23776039

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


>> No.23776224
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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

>> No.23776246


>> No.23776297
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>> No.23776335

What should one use instead of XMR for similar purposes?

>> No.23776340

there quantum resistant algoritms nig.

>> No.23776712

>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

>> No.23776735

I still believe its not backed but anything, still buying

>> No.23776737

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

>> No.23777358

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

>> No.23777872

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

>> No.23777996

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...

>> No.23778032

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.

>> No.23778095

Boomers don't own it.

>> No.23778150

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

>> No.23778206

> Conceivably
Weasel word.

>> No.23778386

Chugging dollar bills around in gas guzzling niggermobiles?

>> No.23778440

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

>> No.23778564
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Bitcoin has an ugly logo

>> No.23779049

this. i cant believe people fall for the quantum fud in 2020
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.

>> No.23779068

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

>> No.23779109
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Seething shitcoiners and shills.
The thread.

>> No.23779136

just make a 24 word phrase???

>> No.23779287

Who is that guy?

>> No.23779510

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.

>> No.23779563

a guy who bought 170M worth of bitcoin recently and 500M for his company

>> No.23780214

Dunning kruger effect

pic related

>> No.23780319
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>> No.23780406
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>> No.23780492

He is selling it right now, bit by bit.

>> No.23780826

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

>> No.23781089

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

>> No.23781143

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?

>> No.23781210

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