By Enforcing Sanctions on Russia, SWIFT May Commit Suicide

Libertarian Institute ^ | 03/10/2022 | Michael Maharrey

[JustaTech]

See post 40

[BiglyCommentary]

Bitcoin is a hobbyist designed coin that can’t scale out for wide usage. It was never designed for that. It was a concept coin, that is all. Just like one of those concept cars at an auto show, never meant to put into production and produce 10 million units ready for real world useage.

[Neanderthal]

RE: Then shouldn’t the rest of the world be seeking safe haven AWAY from the USD into other currencies? But that’s not what’s happening.

What makes you think that's not happening? DXY does not enter into the argument.

[Lazamataz]

Someone mentioned quantum computing. The encryption of Bitcoin is via the hashing function SHA-256. The encryption of the Internet itself is based on hashing functions. If quantum computing “cracks” the hashing function without first establishing a new quantum-based encryption standard, the Internet itself is what will be cracked and broken, not just Bitcoin. Global economic ruin follows.

Precisely.

Worrying about quantum computing cracking Bitcoin is like worrying about a 100-mile wide asteroid hitting your bank. Yeah, the bank will be gone, for sure, but it won’t matter to a melted planet.

Except this is not a 'worry'. This is a certainty. Quantum computing is already here; it will be widespread within 5 to 10 years.