Am I the only one who’s delusional or the world has gone mad?
Am I the only one who’s delusional or the world has gone mad?
See the recent research paper about recreating quantum factoring records using a dog, an abacus, and a vintage computer
Bitcoin has no intrinsic value. It is no different than beanie babies, baseball cards or any collectibles from the past that people thought would make them rich.
The power of bitcoin is in hodling - convincing people to never sell, so the price will keep going up ad infinitum. Once that belief fades away, the entire thing will collapse like a house of cards.
So to answer your question - bitcoin has not crashed yet because it is all about irrationality. Once rationality pops its head up and people start waking up from the dream, it will be over. The quantum computers have nothing to do with it. Not only the hodlers do not even understand bitcoin and crypto, but even if it were out already, people would not believe it until they would read it in the news and bitcoin would be already crashing. And likely even then they would just spam the internet with diamond hands and refuse to believe it is over(again, irrational behavior).
Personally, I absolutely hate that some-people, some-where, some-time ago, hijacked the idea of crypto currency and turned it into an investment instrument, which it is not. Crypto is a beautiful idea that would have worked miraculously if deployed into the real world as intended and we could have had nice things, but we got hoodwinked and it turned all crypto to shit.
How am I wrong?
Also, Bitcoin is more useful than beanie babies because Bitcoin is censorship resistant, but Beanies can be confiscated. You are fundamentally wrong that Bitcoin holds no intrinic value. Bitcoin’s intrinsic value is method of circumventimg censorship. Tell me how I am wrong and how Bitcoin’s intrinsic value doesn’t stem from censorship resistance due to decentralized nature. You can use GPT5-Pro deep research to aid your answer.
Why do you believe those, when the smart money obviously doesn't?
If the encryption is cracked, then who is to say who owns which Bitcoin? As soon as I try to transfer any coin that I own, I expose my public key, your "Quantum Computer" cracks it, and you offer a competing transaction with a higher fee to send the Bitcoin to your slush fund. No amount of software fixes can update this. In theory once an attack becomes feasible on the horizon they could update to post-quantum encryption and offer the ability to transfer from old-style addresses to new-style addresses, but this would be a herculean effort for everyone involved and would require all holders (not miners) to actively update their wallets. Basically infeasible.
^^^ Smart money is aware of this fact, yet real estate and gold aren’t outperforming Bitcoin. Is this truly alpha???
Seems to me like a great plan, for the big fish to consolidate their control of Bitcoin. At the expense of little people. Who they don't care about.
But that’s not the case. The should be transitioning NOW, but that’s not happening.
Also, even if it was done quickly, it would cause collapse of value.
Just like during 2008 lot of people noticed that there were issues in the market and assets. But stayed in as there was still money to be made. Honestly it really looks like same thing is now happening again, be it with AI or other type of lending. Cracks are showing, but there is not that much movement yet.
>Institutions hold Bitcoin. Institutions are smart.
Come on! Especially financial institutions have a serious track record of ignoring obvious problems, outright fraud and monumental incompetence.
cinntaile•2h ago
XiphiasX•1h ago
Also, you can’t really switch Bitcoin to quantum-proof algo. It’s pretty much inpossible.
cinntaile•1h ago
XiphiasX•1h ago
cinntaile•1h ago
XiphiasX•1h ago