We humans are building machines that drastically change the ceiling on computation. The question is not whether quantum matters. It does. For me, it is how it impacts Bitcoin, The Deflationary Asset. I was late to understand, felt compelled to stand. My mentor consistently challenges me. So, I began reading and writing. This is dedicated to our group’s discussions.
Quantum will not blow-up proof‑of‑work.
PoW or SHA‑256 still favors ASICs, the units minting new Bitcoin. Grover’s algorithm, a quantum search, is inefficient for hashing and offers only a modest edge. Many acronyms to assure myself and others that quantum computers will not displace Bitcoin’s value proposition of “hard money.”
Any edge quantum hardware eventually gives would trigger difficulty adjustments. Equilibrium would return, as it did when ASICs displaced GPUs.
Centralization poses a risk. For example, application-specific integrated circuits (or ASICs) have already led to greater concentration in mining power. This risk to the core premise becoming even more pronounced with the advent of quantum computing. Only players with access to quantum technology would manage to compete effectively.
Crypto and AI have already accelerated our consumption, and the outdated grids strain under the load.
Quantum will only intensify the energy crisis.
The Real Threat Posed is Security.
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Matty Thinks 