#NFPWatch Bitcoin and the myth of the single quantum attacker.
$BTC 💥💥💥💥💥💥💥
#TrumpVsMusk One day, an evil figure with privileged and early access to a quantum computer capable of computing millions of logical qubits will break the SHA-256 algorithm, the piece of cryptography that protects the private keys to all the bitcoins in the world. As if by the precise blow of an all-powerful demiurge, confidence in the crypto asset will be destroyed in seconds, while the Bitcoin masses flee the network and witness the most monstrous drain of capital in history.
Although sometimes elusive, it is not difficult to recognize the presence of a myth when it appears. It is recognized by its lack of nuance; by adorning, through the use of excess, an imaginary scenario, from the past or the future, with a poor color palette.
Herebus is all ash gray and occluded black. Hell, monochrome red and orange lava. When it is optimistic, it is golden and blue, like the City of Gold that amazed Candide and Pangloss. The emotional tone in the image of a myth is unitary, and only abruptly turns to its opposite to illustrate a moral. It does not harbor coexistences that are not parallel: it is Joy and Happiness; or Oppression and Fear. But almost never a mixture, because Myth does not suffer divisions: it is a global, and globalizing, entity. It depends on excess, because to satisfy conviction it must hide the natural varieties that ring the bell of Reality, rich and also excessively dressed, but in the trappings of complexity.
The myth described at the beginning doesn't represent the exact way we think about Bitcoin and Quantum Computing (QC), but it does provide a template for some of the loose thoughts we have about the topic when we don't reflect deeply.
This myth contains at least five assumptions that can be criticized, questioned, or completely dismantled.