Why Bitcoin Developers Are Not Incentivized to Talk About the Quantum Threat

Bullish:

• $ETH - Ethereum's proactive approach to quantum threats through post-quantum cryptography makes it an attractive investment, positioning it as the first global financial infrastructure to be quantum-secure.

  • “We now think of post quantum cryptography as being an aggressive strategy in order to attract, you know, institutional capital, for example. And we're now hoping to be the very first global financial piece of infrastructure that is post quantum secure and that could potentially be used as a way to attract capital from Tratify into Ethereum.”

    Justin·1:15:04

  • “I know you've probably seen some people on Twitter making that point that Ethereum as an asset is looking very good from an investable standpoint, partly because you guys are being so proactive about the quantum threat.”

    Laura·1:15:35
• $GOOGL - Google has made major breakthroughs in quantum computing error correction and is a serious player with high dollar investments in building quantum computers.

  • “Google has a serious, high dollar investment in building various types of quantum computers, engineering them. And, as Justin mentioned before about error correction, just last year, Google had a a major breakthrough in the quality of error correction that it was able to attain.”

    Chris·19:19

  • “If you have the fast flavor, so for example, you have Google working on on on the on the superconducting stuff, the the estimate for the time it takes to crack a key is is on the order of minutes, like roughly ten minutes.”

    Justin·0:25
• $QUANTUMCOMPUTING - The blockchain industry is expected to attract significant post-quantum talent and investment as the threat becomes more imminent, creating opportunities in quantum computing companies.

  • “I think the blockchain industry is gonna suck in a lot of post quantum talent in the months and years to come.”

    Justin·48:52

  • “In the the the public quantum computing industry, there's a bunch of companies that have have gone public, and there's been a little bit of speculation around those. So some names that Chris didn't mention, there's like SciQuantum and Continuum and and and Rigetti.”

    Justin·20:38

Bearish:

• $BTC - Bitcoin faces severe quantum vulnerability with 5% of supply at risk (Satoshi's coins), slow upgrade process, and leadership in denial about the threat timeline.

  • “You have leaders like Adam Back that are in complete denial that, you know, quantum computers could be coming in the early twenty thirties. He's talking about, at minimum, decades until cryptographically relevant quantum computers come.”

    Justin·24:46

  • “Bitcoin is a is a chain that only makes upgrades extremely infrequently. You know, in the last ten years, it's only made two upgrades, and it's plausible that it would take them at least five years to upgrade to post quantum cryptography and that quantum computers could come within within that time frame.”

    Justin·25:23

  • “It's it's 5% of the the Bitcoin supply, and I don't know of many chains that have, like, such a large amount of believed to be lost coins for which the the the public key is exposed.”

    Justin·1:05:55

  • “I know, you know, with very high confidence that Bitcoin is not gonna stand the the the test of time because of the security budget and the and the havenings.”

    Justin·1:00:23
• $PRIVACYCOINS - Privacy coins like Zcash will be the first targets of quantum computers as funds can be stolen without detection, making them extremely vulnerable.

  • “I think privacy coins like Zcash are gonna be the very first target of a quantum computer, and the reason is that you can steal funds without anyone noticing. So within the privacy pool, you can just empty the privacy pool and no one will know.”

    Justin·37:52

  • “There wouldn't be any mass panic if the Zcash coins were to move, because no one would really notice.”

    Justin·38:13
• $LAYERTWO - Layer 2 privacy solutions on Ethereum are vulnerable to quantum attacks and will need expensive migrations to post-quantum secure solutions.

  • “Justin explains that layer two privacy solutions on Ethereum like Aztec would also be affected by quantum computing attacks and need to migrate to post-quantum secure solutions.”

    Summary·41:01

  • “Yes. Unfortunately, they would be affected. And, really, the solution here is to try and migrate as quickly as possible to post quantum Snarks because a lot of these are based on on on Snarks.”

    Justin·38:44