Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin:
https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
There is no logic behind bitcoin dying. There is no reason for it to die, I understand some people bought bitcoin during its peak times at around $20k and now they lost a lot of money because of it and some even got out and just took the loss and those same people really wish the bitcoin would die off so they could say they got out at least before it died. That is the only possible reaction that makes sense, if you lost money on something you want it to go even further down so you can say you got out early and didn't lost all your money but some of it however if it goes up and makes all of us profit than that person sold early and should have waited so he could profit, he didn't which would upset him.
It is the human nature, you want the best option for your future to happen, that is all.
All of us want the best possible future. It's not easy to predict the future and do now what's necessary to secure your future. There is logic in bitcoin dying from better and more secured technology, that is possibility like many other possibilities, but how big chances are for that to happen and when? In 9 years from now I doubt that technology can advance so much.
People never lose with bitcoin cause of the bitcoin, it's cause of greediness and fear, greediness when they want much more, fear from price going down and panic selling. People lose with crypto only when they sell crypto for money, and they sell cause panic that has been spread around the Internet with topics about bitcoin death. I don't believe in this crap for sure, but many people still fall on similar things and they lose nerves and sell valuable coins for worthless money.