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Coinbase says Bitcoin should start preparing for a quantum upgrade now, but getting everyone to agree on it may be the hardest part
Something that's not bringing in new investors is fear of quantum. On October 13th, Coinbase released a technical post that said preparation should start before a quantum threat becomes certain, because network changes and wallet migrations can take years. The discussion in this paper includes flexible strategy, security designs, and staged migration. They ask the difficult questions, what to do about abandoned or inaccessible coins like Satoshi's wallets. So the real story here is that they're saying that quantum is going to be an issue. We don't know how big, and now is the time to get prepared. What I find interesting here in the whole quantum debate is that Bitcoin's hardest upgrade may actually be getting everyone to agree that it needs an upgrade. You have a lot of people who say the quantum threat is nonsense. And then there are a lot of people who think that you should sell your Bitcoin right now because quantum is going to destroy it. It's sensible to do exactly what Coinbase is, which is prepare for the worst and hope for the best. Get ready for it. It may be an issue. If it is, we will be prepared.
#Bitcoin #Quantum
Something that's not bringing in new investors is fear of quantum. On October 13th, Coinbase released a technical post that said preparation should start before a quantum threat becomes certain, because network changes and wallet migrations can take years. The discussion in this paper includes flexible strategy, security designs, and staged migration. They ask the difficult questions, what to do about abandoned or inaccessible coins like Satoshi's wallets. So the real story here is that they're saying that quantum is going to be an issue. We don't know how big, and now is the time to get prepared. What I find interesting here in the whole quantum debate is that Bitcoin's hardest upgrade may actually be getting everyone to agree that it needs an upgrade. You have a lot of people who say the quantum threat is nonsense. And then there are a lot of people who think that you should sell your Bitcoin right now because quantum is going to destroy it. It's sensible to do exactly what Coinbase is, which is prepare for the worst and hope for the best. Get ready for it. It may be an issue. If it is, we will be prepared.
#Bitcoin #Quantum
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