Chamath says Bitcoin "eventually gets hacked and then it goes to zero." Here's why I think the panic is aimed at the wrong target.
On the Moonshots podcast (EP #304), Chamath Palihapitiya called $BTC "capped" and argued that AI or quantum attackers could one day break its cryptography, drain Satoshi's coins, short the market and announce it. His bigger point: the Bitcoin community is too divided to coordinate a quantum-resistant upgrade. He also said he no longer holds BTC directly, only exposure through Digital Currency Group equity.
My take: the coordination worry is the part worth taking seriously. The "AI cracks SHA-256" part is weaker. Many replies on X point out that the realistic quantum risk is to ECDSA signatures on coins whose public keys are already exposed, not to SHA-256 mining, and that no machine today can do either. If those keys ever fall, banks and every other chain face the same problem.
The market shrugged. BTC trades around $80,745 on Binance, down about 0.7% in 24h, inside an $80,513 to $82,060 range. Holding the $80K area matters more this week than a podcast clip.
So the real question isn't "will Bitcoin go to zero?" It's "how fast can it ship a post-quantum migration?" That's the debate I'm watching.
Do you think the Bitcoin community can agree on a quantum upgrade in time?
#Bitcoin #BTC #Quantum #CryptoNews
Not financial advice.
On the Moonshots podcast (EP #304), Chamath Palihapitiya called $BTC "capped" and argued that AI or quantum attackers could one day break its cryptography, drain Satoshi's coins, short the market and announce it. His bigger point: the Bitcoin community is too divided to coordinate a quantum-resistant upgrade. He also said he no longer holds BTC directly, only exposure through Digital Currency Group equity.
My take: the coordination worry is the part worth taking seriously. The "AI cracks SHA-256" part is weaker. Many replies on X point out that the realistic quantum risk is to ECDSA signatures on coins whose public keys are already exposed, not to SHA-256 mining, and that no machine today can do either. If those keys ever fall, banks and every other chain face the same problem.
The market shrugged. BTC trades around $80,745 on Binance, down about 0.7% in 24h, inside an $80,513 to $82,060 range. Holding the $80K area matters more this week than a podcast clip.
So the real question isn't "will Bitcoin go to zero?" It's "how fast can it ship a post-quantum migration?" That's the debate I'm watching.
Do you think the Bitcoin community can agree on a quantum upgrade in time?
#Bitcoin #BTC #Quantum #CryptoNews
Not financial advice.