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⚡️💬 NEW - Ray Dalio about Bitcoin: "I have a small percentage of Bitcoin I've had forever, like 1% of my portfolio. I've said the same thing over and over again about Bitcoin. I think the problem of Bitcoin is it's not going to be a reserve currency for major countries because it can be tracked and it could be conceivably with quantum computing controlled, hacked, and so on and so forth."

Replies (16)

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↩ replying to Marc
I'm not sure banks and financial institution more generally rely on ECDSA to the same degree Bitcoin does. This is not to say that they win and Bitcoin loses, only to point out that things might be more nuanced on this front. And as you correctly point out, BIP360 is an option, plus already using simple P2WPKH addresses only once would do the trick already, with the only problem being the public key being exposed as transactions are still unconfirmed in the mempool: a highly resourceful quantum attacker could observe the public key, use quantum to obtain the private key, and then double spend the same inputs hoping miners choose its transaction instead of the original one (doable with RBF).
It’s too pseudonymous for governments to feel comfortable with their citizens using it but it’s not anonymous enough for governments to feel comfortable using it. This is the dynamic that tells you everything you need to know about government.