Bitcoin

[MountainTracker]

I’m no computer nerd. Don’t understand the programming side of BTC beyond the very basics. I’m very familiar with the concept of BTC as a value storage solution/replacement for fiat. I like the idea a lot, and own some.

Genuine question - if bitcoin security is “upgraded” or innovated, wouldn’t that kinda destroy the whole concept of bitcoin? Isn’t the security of bitcoin the bitcoin itself? Can the security aspects of BTC be changed with without fundamentally changing the nature of BTC?

I agree that fiat is just “numbers on a computer”. I’ve got zero faith in our financial system not inflating to the moon over time, just like every other fiat system has. But the above question (possibly?) makes it different. Security systems can innovate to protect fiat banking systems. But If the nature of BTC can be exploited by quantum computers, theres a big difference. The fundamental nature of fiat isn’t zeros and ones. The fundamental nature of bitcoin is…


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I’m also no programmer, I heard this when all the quantum computing stuff was being takes about. The world money supply is $89.2 trillion currently. The market cap of BTC is $2.02 trillion. It would take less energy and time for a quantum computer to steal all the worlds money then it would to take btc, due to the amount of computing power used to secure it.


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[fmyth]

Fed Chair Powell on cryptocurrency: Banks perfectly able to handle crypto.