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Meanwhile you have other cryptos that will happily go along with what the institutions want and are now getting all the capital flow that comes out of Bitcoin.
Nic will be a cheerleader, rooting on one of his shitcoins. Why listen to this scammer at all?
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I think he is being chicken little about the quantum risk because he is a VC in a crypto quantum company so I am not dismissing his incentives here but I don't think he is completely wrong about the potential ramifications if an actual quantum attack did occur.
Maybe I am pessimistic but the newer wave of Bitcoin investors (the ones that have bought up all the coins OGs have sold) don't seem to understand Bitcoin at all and they don't seem interested in learning either. It is just another asset for them. I suppose it was inevitable that later adopters were never going to be as ideologically connected to the project as early adopters but I feel like this makes Bitcoin more vulnerable that it was during other times of crisis. Again maybe I am too pessimistic. It's been a disappointing couple of years. Feels like grassroots adoption is dying and wall st adoption is growing. I expected the rest of the world to keep grassroots adoption alive while the US went through its wall st coin phase. Hasn't really happened and that leaves me thinking other than the most hardened and passionate Bitcoiners where is the demand when everyone else in the world is selling?
I sometimes feel that way too. But, I think about that msm article somebody posted the other day about how stable coins have been the real cypherpunk legacy, ironically saving the dollar. The first time Uncle Sam freezes some "terrorist group"'s USDC, or some nation that is engaging in "anti semitic acts", the world will understand bitcoin's value.
And Nic wants to give Satoshi's coins to the US government? Who listens to this shitbag?
I agree with your points regarding quantum computing capabilities and the game theory. Who knows if this will even be an issue for decades to come and who knows who recovers and coins and if they ever sell them.
However in the scenario that Nic lays out I do think it would be catastrophic to bitcoin. Maybe not existential but we are talking probably a lost decade. Meanwhile you have other cryptos that will happily go along with what the institutions want and are now getting all the capital flow that comes out of Bitcoin.
Bitcoin likely survives but is maybe permanently wounded.