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I would have responded that the security of the original Bitcoin protocol will likely have been rendered void by quantum computers long before the full supply h

• tromp 4y ago
  The time when the last satoshi is mined is irrelevant. The security will be in question as soon as the block subsidy drops below the level of tx fees, which will only take a few decades. In the past decade, no progress has been made on the size of numbers that can be factored by a quantum computer. From https://en.wikipedia.org/wiki/Shor%27s_algorithm https://en.wikipedia.org/wiki/Shor%27s_algorithm: > Also, in 2012, the factorization of 21 was achieved, setting the record for the largest integer factored with Shor's algorithm. In 2019 an attempt was made to factor the number 35 using Shor's algorithm on an IBM Q System One, but the algorithm failed because of accumulating errors.
  • t_mann 4y ago
    Young technologies can progress exponentially (Moore's law, Wright's law,...) with the right factors in place, so be careful when extrapolating progress over the next decade using the last decade. How much progress in neural-network-based image recognition has been made in 2002-2012, and how much in 2012-2022?
• vbezhenar 4y ago
  If quantum computers will ever work, by that time bitcoin will migrate to new algo, that’s not a big issue.
  • t_mann 4y ago
    In the same sense that moving to PoS is 'not a big issue'. The Bitcoin protocol, using PoW and quantum-vulnerable keys, is defined in the Whitepaper and can't move anywhere. People in the Bitcoin community can move to a new protocol and try to create an air of continuity (which will likely happen, multiple times, creating questions about who the 'real' successor is).