Jeez ive seen so much low sentiment recently
Actually I've just spent ten minutes scouring the search function and all I could find was these two posts 🤣🤣Actually I've just spent ten minutes scouring the search function and all I could find was these two posts 🤣🤣
But hey, the general sentiment is down and I'm here to spread some Christmas 🎄 cheer and brighten it up a little!
So this post is really for us beginners to conceptualize certain aspects and as I've said before, not for egg sucking
So let's start with the Quantum boogey manSo let's start with the Quantum boogey man
You’ve heard all the catchphrases, Shor's algorithm, ecdsa, Qubits
And the fear is that a QC can get your private key from your Xpub
But bc1q addresses, like we're all using nowadays are hashed and even QC's can't crack them
So what's the fud?So what's the fud?
Well, if you send some sats from your address
Technically you’ve shown your public key and broken the hash
So the QC would have to spot your tx in the mempool
crack your private key
Create a new tx to their address
Up the fee to beat your one
Hope the miners pick their one
All in the 10 minutes before the block is confirmed
And the computing power of the biggest data centres on the planet are literally decades away from getting anywhere near this
And by then a solution would've been thought of.
You'll know that QC's are getting somewhere when Satoshi's coins move
Because those old style addresses are not hashed and they'll be the first to go
Unless the man himself moves them beforehand 😲
The stagnation in priceThe stagnation in price
Where are we today 88K? Basically we've been bumping along this road for quite a while
And it would be perfectly natural to feel like it's all over (again)
But in my opinion there are a few reasonsBut in my opinion there are a few reasons
The og's are selling, we know that, the chain analysis tells us this
Some of these stackers bought at a dollar, 50 dollars, 500 dollars and they're rich
They might want to buy their kids a house
They might want to put their stack in an etf to take advantage of tradfi games
It's possible the futures market is being used to control the price but that can only hold for so longIt's possible the futures market is being used to control the price but that can only hold for so long
If there is a demand for sats eventually that dam will break
Gradually then suddenlyGradually then suddenly
And as the market cap rises, the ability of nation states to stop it, reduces further
There will be an event horizon, where if a nation state decided to print trillions of dollars to kill Bitcoin, they would end up killing their economy through debasement and losing the populous' confidence
And that is why you hear maxi's say...
Bitcoin is inevitable