Gold and Blockchain to be Quantum near future

Major Bank creates gold exchanged in secure Quantum layer.

BTC won’t survive.

So only Gold can have a secure Quantum layer? That seems not well thought out. The people in Bitcoin are already working on this. They are miles ahead of you.

A new public-key algorithm can be added to Bitcoin as a softfork. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.

More on the quantum problem.

https://www.coinbase.com/learn/crypto-basics/is-quantum-computing-a-threat-for-crypto

** Despite the potential implications, it’s important to note that quantum computing is still in its early stages of development. Today’s quantum computers are susceptible to environmental interference such as the Earth’s magnetic field, local radiation, and even cosmic rays, which make calculations performed by current quantum computers error-prone.

Because of these technical and operational challenges, quantum computers are currently accessible to a limited number of companies and researchers. It may take a decade or more for quantum computers to impact current [cryptographic] protocols.**

You are missing it. The BTC blockchain won’t be in its current form. It would take an entirely new Quantum computing blockchain. That is not BTC no matter what it is labeled.

I am saying new blockchains will come up in the Quantum world. BTC will be at a disadvantage even if updated. Some heavy lifting that might not be possible. There are theorists in the Quantum programming world that say Quantum computers can not do simple arithmetic. Quantum computing is for higher orders of math.

adding

Can I use a quantum computer to mine Bitcoin?

Quantum computers are super powerful and can tackle complex calculations, but using them for Bitcoin mining is a bit tricky. While they can crunch numbers insanely fast, Bitcoin’s mining algorithm requires specific types of calculations that quantum computers aren’t necessarily better at.

So you are saying it is possible.

The current system would need to go into a new system. Going from basic math to something else. Don’t ask me what else. Quantum is not for basic math.

You figure that out. You say it can be done.

Just note no one else has figured that out to the best of my knowledge.

I showed you a link that they are working on it. It only makes sense that they would.

“I have concepts of plans”.

Are they anything like your foray into NFT’s? I can’t wait to hear. :joy: :joy:

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From the article:

Last week, HSBC announced that it has successfully trialed the first application of quantum-secure technology for buying and selling tokenized physical gold, a significant step toward protecting critical applications from potential future quantum computing attacks.

This sounds like the dumbest idea I can imagine. The whole point of owning gold is in the event of an asteroid strike or violent uprising you have a physical, valuable asset in your possession that you can exchange for goods and services until the power is restored or the bullets run out. Which ever occurs first.

Why would you want to own a token that exists only on computers operated by the the Hong Kong and Shanghai Banking Corporation? You know, the bank that is constantly getting into trouble for money laundering and tax evasion? If the stuff hits the fan, those guys will be on the first plane to Venezuela.

Not only don’t you have gold in your possession, you don’t even own any physical gold. You have digital IOU for gold. What good does that do? And why do you need a distributed ledger for this? Why can’t have just have an account like a normal brokerage?

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The NFTs got completed. About one year too late to bring to market. Assuming being 6 months prior to the top was best.

See I knew you could answer your own question. :joy: :joy: :joy:

So Bitcoin is Better right Syke?

I don’t know the specifics of how this HSBC scheme works, but it seems that Bitcoin would be better as long as you self-custody because then at least you would control it in the event something bad happens. If you own Bitcoin on an exchange or ETF then Bitcoin is probably worse.

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OK I am keeping that for posterity. I expected you to say. “No you knucklehead they are both rat poison” :joy:

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Btc to zero?

Or 20 usd

I don’t think anyone knows the future but it’s over 64,000 now and you thought it was going down so I consider that a win. :joy: