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Unless you are the government, not an individual. Bitcoin threatens the government. SHA256 will be cracked as a result of inevitable quantum computing breakthro
by westcort 5y ago
Unless you are the government, not an individual. Bitcoin threatens the government. SHA256 will be cracked as a result of inevitable quantum computing breakthroughs. It is not an if, but a when. If the government shuts down crypto, on the other hand, their internet surveillance machine goes dark. We know they can break cryptographic algorithms based on the content of the Snowden leaks. The purpose of Bitcoin is a bounty.
- itake 5y ago> Bitcoin threatens the government. Do you have a source for this? banning banks from letting anyone transfer USD to crypto would severely limit btc adoption. If btc is a threat, why hasn't it been banned yet?
- westcort 5y agoChina banned Bitcoin mining and many people have had their bank accounts shut down or seized: https://finance.yahoo.com/news/compass-mining-says-chase-shut-214952095.html https://finance.yahoo.com/news/compass-mining-says-chase-shu...
- 0x6A75616E 5y agoHere’s Why Quantum Computing Will Not Break Cryptocurrencies https://www.forbes.com/sites/rogerhuang/2020/12/21/heres-why-quantum-computing-will-not-break-cryptocurrencies/ https://www.forbes.com/sites/rogerhuang/2020/12/21/heres-why...
- westcort 5y agoRSA falls first, limiting banking transaction safety, leading to a flight to crypto, then the government is forced to tip its hand. Yes SHA256 is theorized to be harder to crack with a quantum computer. The consortium is betting that the government has technology 50 years ahead of private industry, as has held true in the past. This article does not say a hard no, but it does offer a bit of insight about what the end game will look like.