Quote from: figmentofmyass on February 04, 2020, 07:43:31 PM

Quote from: franky1 on February 04, 2020, 06:47:36 PM

Quote from: figmentofmyass on February 04, 2020, 06:22:42 PM

in the sense of counterfeiting, yes. there are other considerations, however. for example, if quantum computers were to break ECDSA tomorrow, it would irreparably harm bitcoin. gold is not vulnerable to such cryptographic vulnerabilities nor power grid/internet failures. in those senses, gold is more secure.

technical sidenote. dont worry about quantum
it will never break ecdsa by tomorrow. it will just reduce brute forcing to be from millions of years to thousands of years.

i don't expect QC to break bitcoin tomorrow, but i also think depending on current extrapolations of quantum computing progress is illogical. we fundamentally cannot know if/when huge technological leaps will occur in this field. even if we ignore that fact, reasonable extrapolations say ECDSA will be broken during the current decade. https://medium.com/@nopara73/stealing-satoshis-bitcoins-cc4d57919a2b

even if these threats are purely theoretical, they are threats that could never apply to the security of gold. that's the point i was making above.

Bitcoin can be improved before that ever becomes an issue, and there are proposals to make it even more resistant. Eventually, when everyone has quantum computing capabilities, we could even migrate to a quantum crypto algorithm.

Do pay attention to the other thread that reminded us of the time when possession of gold was illegal in the USA (1933~1974).