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Ryan Sean Adams

👤 Speaker
3095 total appearances

Appearances Over Time

Podcast Appearances

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So we're just going to make a social decision and hard fork and just say, these coins shall never be moved.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

They're frozen.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

We'll write it into the code, right?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So it's 21 million less the 10% that was frozen this one time.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

That's one of their options.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

The other option is they just leave that 10% to whoever can create the quantum computer to go claim them.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Almost like a salvaging a shipwreck situation where you have a Spanish Armada fleet and they sink with all their gold and their treasure.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

And whoever builds the submarine to go to the bottom of the ocean to get the gold can go claim it.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

But those are...

Bankless
Ethereum’s Quantum Strategy with Justin Drake

forced options.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Like no matter what happens, if Q Day happens, the Bitcoin community will have to choose one of those two options, either intervene, burn and freeze, or just leave it to whatever geopolitical commercial force has the ability to develop quantum computers and go claim the prize.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Is that what we're saying here?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

This is so difficult, though, because to your point earlier, Justin, this does shatter the incorruptible narrative, the property rights narrative.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So this is any decision on a freeze or burn,

Bankless
Ethereum’s Quantum Strategy with Justin Drake

somewhat shatters the pure nature of what Bitcoin is.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

And I must wonder, so Nick Carter in his essays about this goes through a different story where there's not a burn and freeze scenario.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Instead, it's the salvage scenario where you just leave the coins.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

And in his scenario, he goes through, there's a private quantum lab that you cracks the

Bankless
Ethereum’s Quantum Strategy with Justin Drake

The the ECDSA ahead of schedule, they happen to be kind of U.S.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

based.