Chamath says Bitcoin will get hacked sooner or later and go to zero. The funniest part, in my opinion, isn't what he said—it's his own position.
What he said on the Moonshots podcast, in essence, was that BTC has a ceiling and will eventually get hacked and go to zero. He also said he stopped holding coins directly a long time ago, switching to equity in DCG a few years back.
What is DCG? Grayscale's parent company, whose entire business is built on crypto. If BTC really goes to zero, how much could DCG equity be worth? So he's not bearish on Bitcoin; he's afraid he can't manage his private keys properly, and would rather have a company hold that risk for him. That's a personal security issue, not a sign that Bitcoin is going to die.
Then there's the technology. The scenario he describes is AI plus quantum computing cracking the code, stealing Satoshi's coins, then shorting BTC and crashing the market. The problem is that SHA-256, used for mining, and the elliptic-curve cryptography used for signatures are two different things. Theoretically, the addresses actually at risk are older ones whose public keys have already been exposed. A roundup on X estimates that around 30% of BTC is in addresses like these, but there is currently no way to crack them. What this should prompt is a timeline for a quantum-resistant upgrade, not calls for Bitcoin to go to zero.
The other side isn't much better, either. The comments are full of copy-pasted claims like “Bitcoin has never been hacked in 17 years.” The same account posts the same line over and over, stoking emotions just like he is.
It's nothing new when big names say Bitcoin will go to zero. What's new is that he's wrapped the same old claim in a more expensive package. If you're really worried about quantum computing, follow the progress of BIPs and the migration of old addresses—not podcast headlines.
#比特币 #QuantumComputing
What he said on the Moonshots podcast, in essence, was that BTC has a ceiling and will eventually get hacked and go to zero. He also said he stopped holding coins directly a long time ago, switching to equity in DCG a few years back.
What is DCG? Grayscale's parent company, whose entire business is built on crypto. If BTC really goes to zero, how much could DCG equity be worth? So he's not bearish on Bitcoin; he's afraid he can't manage his private keys properly, and would rather have a company hold that risk for him. That's a personal security issue, not a sign that Bitcoin is going to die.
Then there's the technology. The scenario he describes is AI plus quantum computing cracking the code, stealing Satoshi's coins, then shorting BTC and crashing the market. The problem is that SHA-256, used for mining, and the elliptic-curve cryptography used for signatures are two different things. Theoretically, the addresses actually at risk are older ones whose public keys have already been exposed. A roundup on X estimates that around 30% of BTC is in addresses like these, but there is currently no way to crack them. What this should prompt is a timeline for a quantum-resistant upgrade, not calls for Bitcoin to go to zero.
The other side isn't much better, either. The comments are full of copy-pasted claims like “Bitcoin has never been hacked in 17 years.” The same account posts the same line over and over, stoking emotions just like he is.
It's nothing new when big names say Bitcoin will go to zero. What's new is that he's wrapped the same old claim in a more expensive package. If you're really worried about quantum computing, follow the progress of BIPs and the migration of old addresses—not podcast headlines.
#比特币 #QuantumComputing