In this episode, Bitcoin veteran Jameson Lopp discusses the growing threat of quantum computing to Bitcoin’s cryptography. He breaks down his new Bitcoin Improvement Proposal (BIP) that aims to prevent a catastrophic supply shock by encouraging a network-wide migration to quantum-resistant addresses. Lopp explains the nuances of Shor’s algorithm, possible migration schemes, controversies around locking old funds, and his phased plan to protect user assets. We also touch on the state of Bitcoin L2s, BitVM progress, mining risks, and the philosophical tension between ossification and innovation. Enjoy!
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Against Allowing Quantum Recovery of Bitcoin:
https://blog.lopp.net/against-quantum-recovery-of-bitcoin/
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Timestamps:
(00:00) Introduction
(02:38) Bitcoin’s Quantum Threat
(07:18) Presidio Conference
(10:27) Quantum Resistant Solutions
(11:08) Ledn Ad
(11:45) Quantum Resistant Solutions
(17:14) Jameson’s Proposal
(23:21) What If You’re In A Coma?
(25:00) Ledn
(25:45) Proposal Feedback
(27:20) Quantum Mining
(29:59) How Fast Is A Quantum Hack?
(32:15) The Quantum Plan
(33:41) How To Protect Your Funds?
(35:39) Bitcoin Layers 2s
(37:43) Core vs Knots
(42:01) Is Bitcoin Progressing?
(45:16) Final Thoughts
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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Bitcoin #Crypto #SupplyShock