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David Hoffman

👤 Speaker
3710 total appearances

Appearances Over Time

Podcast Appearances

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

There could be two sides to that debate.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

If only that was the only problem.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

The other, I think the main problem as well, I don't know, they're all main problems is you've got 6.9 million Bitcoin, a third of all supply that is vulnerable to quantum attack.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

Now, some of that can be migrated except for the 2.3 million or so, which is 10 to 15% of all Bitcoin supply.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

That is Satoshi's keys and lost keys and keys that haven't been touched.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

And it's

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

you guys have that we see.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

We are Google and we see four options.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

I should say there were other co-authors on this paper, one of which was Justin Drake, interestingly enough.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

So the Theorem Foundation, Justin Drake named.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

But anyway, they said the four options are you could do nothing.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

Just let the quantum attackers take them.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

You could burn.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

You could take this whole dormant supply.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

Figure out what, you know, get consensus on what coins are dormant and burn them all.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

That would require a hard fork.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

Yes.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

You could do an hourglass approach, which is a scheme that they developed to limit the rate that dormant coins could be spent.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

So you slow the drain.

Bankless
ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

Or this was also a Justin Drake idea.