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Brian Armstrong

πŸ‘€ Speaker
1465 total appearances

Appearances Over Time

Podcast Appearances

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And it will make the blocks larger.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

Right.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

So that's one area of debate.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

People in the Bitcoin space like larger block sizes are a contentious issue.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And so if they decide to go in that direction, it would raise the block size.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

But perhaps the most contentious question is what to do with the Satoshi coins, which are the bounty.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

Right.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And, you know, I'll try to summarize both sides of the argument here without putting my foot in my mouth because it is kind of a big debate topic.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

But I think one school of thought would just for people to understand what we're talking about, I think.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

You know, a lot of the original bitcoins that used an earlier signature scheme, if someone were to develop a powerful enough quantum computer, could, in theory, find the private key and seize those coins.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

Right.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And so one school of thought would be to say, OK.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

Tell everyone who owns Bitcoin by a certain date, you all need to upgrade to this new algorithm.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

By the way, companies like Coinbase would sort of do all this for you.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And so you wouldn't have to worry about it.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

But if you're doing self-custody or something like that, you would have to find a way to upgrade to this new thing by a certain date.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And and then if it goes past the deadline, those coins would be frozen under option A. Right.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

And so people would say it's better to freeze them and have them sort of be lost, almost like a ship full of gold sinking to the bottom of the ocean.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

It would better.

Moonshots with Peter Diamandis
Brian Armstrong on Bitcoin, Anthropic Drops Fable 5 & Mythos 5, NewLimit's $435M Age-Reversal | EP #264

It's better to have them be lost than to have them seized by someone, which could be whoever has this quantum computer.