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TFTC: A Bitcoin Podcast

Bitcoin Alpha E005: Why Quantum Computing Can't Kill Bitcoin with Matt Corallo

TFTC: A Bitcoin Podcast

Marty Bent

Technology

4.8764 Ratings

🗓️ 20 December 2024

⏱️ 81 minutes

🧾️ Download transcript

Summary

The Ten31 crew sit down with Matt Corallo to talk about Google's Willow quantum chip.


0:00 - Disclaimer

0:24 - Matt Corallo addresses the quantum chip scare

34:19 - Expected value calculation in quantum scenario

45:34 - Bitcoin MENA and nation state adoption

56:45 - Bitcoinization of finance

1:02:18 - MSTR

1:11:00 - Yield is a scary word in bitcoin

1:17:35 - 100k milestone

Transcript

Click on a timestamp to play from that location

0:00.0

The following is for informational and entertainment purposes only and should not be construed as financial advice.

0:05.8

This discussion is a presentation by 1031, the leading institutional investor focused on the Bitcoin ecosystem.

0:12.8

1031 has over 10 years of experience in Bitcoin and has deployed nearly $150 million into the leading opportunities in the space.

0:21.2

To learn more, visit 1031.vc.

0:24.7

I saw it in my feed.

0:26.8

I ended up missing my next meeting because I had to figure out how long will it take

0:31.3

for us to crack the encryption standards that we use for Bitcoin.

0:36.2

Here's the answer because I was so tilted by this idea.

0:40.2

So if you think of Willow as essentially like one stable, logical qubit equivalent in a chip,

0:51.4

we need about 4,000 to break RSA 2048, and we need about 8,000 to break

0:57.4

SHA-256, which is the underlying encryption framework for Bitcoin.

1:02.2

So I think you're right.

1:04.2

I think we're in the sort of like...

1:06.2

The end game?

1:07.2

Two to five-year shot clock.

1:09.2

No, I mean, I think what'll have to happen is some of these chains will need to

1:13.3

obviously re-implement something at a pretty foundational level.

1:19.4

The weird thing, as Freebrook says, is like, the Willow Chips error correction gets better,

1:25.2

the more of these things you start to use together.

1:29.3

Now, there's some really big problems inside these chips, like logical interconnects are very

1:33.8

complicated.

1:34.8

If you put two chips on a board, like the C2C communication is complex, all this stuff that

...

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