"Chamath Palihapitiya declared that the expected appearance of a quantum chip capable of breaking bitcoin has accelerated from 25 years to 7 years at most. He advised the leaders of the Bitcoin ecosystem to organize and move to shield bitcoin from this menace or risk becoming an obvious honeypot."
"He stressed: A non-state actor's incentive will first be to drain the obvious honeypots and then tell everybody that it's broken, so that then everything goes to sh*t, all the prices go to zero, and then they have all the money, and then they can buy stuff."
Chamath Palihapitiya warned that the threat of quantum computing to Bitcoin has accelerated significantly, now estimated at 7 years. He emphasized that Bitcoin would be the primary target for non-state actors, who would exploit it as a honeypot. To mitigate this risk, the Bitcoin network must redesign its nodes and wallets within this timeframe. Palihapitiya noted that while all encryption systems are at risk, cryptocurrencies like Bitcoin are particularly vulnerable and could face catastrophic price drops if not adequately protected.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]