Justin Drake

speaker

648 appearances 1 recordings 1 series first heard Mar 2026 last heard 23 Mar

Justin Drake’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Mar 2026 with 1.

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Bankless · Ethereum’s Quantum Strategy with Justin Drake · 23 Mar 2026 podcast

And that is one of the main bottlenecks to making an attack.

The other bottleneck is to have the rigs, the hardware.

And here we're talking about a million rigs, just a million machines.

And it will cost you about $10 billion to pull off the attack, which in the grand scheme of things is absolute peanuts, both relative to the market cap of Bitcoin, but also for an attacker like Nation States.

Is that what you believe?

So I remain optimistic on quantum.

I still think that

Ultimately, it's rooted in a technical challenge that can be overcome.

The bigger issue I see is the security budget, because here we're getting at the core essence, the DNA of what it means to be Bitcoin, which is to have this $21 million cap and to be secured by proof of work.

And I just don't see how you can combine proof of work and $21 million cap.

You have to just lose one.

So there is a possibility, for example, that...

BTC, the assets, were to decouple with Bitcoin, the chain, and it could go live on the more secure chain for free.

And, you know, the obvious choice here is, you know, to live as an ERC-20 token, for example, on Ethereum.

But just saying these words, you know, is- Bitcoiners don't think like that.

No, they don't.

So-

But if I were to say different words like, oh yeah, we're just going to remove the 21 million limit because we realized that the security budget is insufficient, Bitcoiners also don't think like that.

And so they're heading very fast towards a wall and 2032 is the reckoning day.

So there's basically...

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