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Andreas Stullkowski's avatar

One of the reasons I bought into Bitcoin was my trust in the developers. I followed a number of them for a while, and came to the conclusion that these are very very bright people, who will be able to deal fairly quickly with threats to cryptographic security, e.g. via quantum computing.

I am not very bright myself. But I work in a large IT company, and I learned to understand how important it is to have good developers, and to recognize IT geniuses when I see them.

I also looked at the Bitcoin core code. It is a very good codebase, which is intentionally as simple as possible, doing the basic requirements, but doing these extremely well. Good, safe code is always fairly simple.

If a quantum attack will happen, Bitcoin will be able to deal with it much better than any bank or any government. They have such convoluted computer systems nobody really understand anymore.

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Joel W. Hay, PhD's avatar

Another problem with electronically-based savings accounts; the US Govt. has clearly pierced any customer confidentiality in this Himalaya coin case and seized the e-coin assets of many innocent investors. Even without quantum crypto decoding they may have backdoors to everything.

https://www.justice.gov/usao-sdny/pr/ho-wan-kwok-aka-miles-guo-arrested-orchestrating-over-1-billion-dollar-fraud-conspiracy

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