mycointhoughts on Nostr: 1. I would argue that Bitcoin is simply codifying property rights. If major ...
1. I would argue that Bitcoin is simply codifying property rights. If major governments attacked it, that would only serve to prove that their nature is authoritarian. Under that regime, black markets would grow and Bitcoin could actually gain traction. Also, due to its global nature, it would be difficult to effectively ban it for a sustain period of time.
2. If quantum computing advanced to the point of threatening Bitcoin, it would first threaten other weaker security models. Bank encryption could be targeted first, forcing updates to encryption that would be effectively quantum resistant. Bitcoin would eventually be soft forked to upgrade to modern security needs.
Published at
2023-08-02 01:44:12Event JSON
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"content": "1. I would argue that Bitcoin is simply codifying property rights. If major governments attacked it, that would only serve to prove that their nature is authoritarian. Under that regime, black markets would grow and Bitcoin could actually gain traction. Also, due to its global nature, it would be difficult to effectively ban it for a sustain period of time. \n\n2. If quantum computing advanced to the point of threatening Bitcoin, it would first threaten other weaker security models. Bank encryption could be targeted first, forcing updates to encryption that would be effectively quantum resistant. Bitcoin would eventually be soft forked to upgrade to modern security needs. ",
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