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102 sats \ 5 replies \ @Undisciplined 4h \ on: Will Quantum Computing Kill Bitcoin? - Scott Aaronson with Eli Ben Sasson bitcoin
When scientists and engineers refer to things as simply being engineering problems, they tend to overlook the corresponding economic problems. Resources aren't infinitely available for their projects.
Bitcoin won't be hacked until doing so is profitable ("profitable" has a richer meaning in economics than it does in finance, which probably matters here). How far are we from that?
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69 sats \ 4 replies \ @optimism 1h
First, the feds will print trillions upon trillions to build AI datacenters. Then, they will print quadrillions upon quadrillions to convert these useless spaces into facilities operating close to absolute 0. Then, they steal all the bitcoin and earn back all the printing.
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100 sats \ 3 replies \ @Undisciplined 1h
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69 sats \ 2 replies \ @optimism 1h
I won't disagree with that assessment. But if you don't give a shit and you have a money printer, then there is no compelling reason not to. Especially if you can on the side shitcoin your way to your own riches. Just launch a memecoin bruh.
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100 sats \ 1 reply \ @Undisciplined 1h
Going after bitcoin is still only worthwhile if it's worth the opportunity cost involved.
  1. The actual resources needed are scarce, so attaining them will have real consequences
  2. There are other uses for freshly printed money
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69 sats \ 0 replies \ @optimism 1h
I also agree re: 1. Why go after bitcoin if you can just print more? And that automatically confirms 2.
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