gold: asteroid and fusion reactor cooked
bitcoin: quantum and ai cooked
banking: php and ai swarm cooked
starting to feel like zcash might be the only safe-haven asset in the entire world for the foreseeable future
.@chamath nails it. bitcoin is capped. anyone thinking it's going to new ATHs anytime soon is a delusional cult member. it's going to be YEARS until new ATHs becomes a possibility, and only AFTER it upgrades to be post-quantum
zcash is both the hedge and the end-state of money
Chamath articulating the Zcash thesis:
“Traditional crypto lacks the fungibility to have all forms of buyers. The buying pool is really retail, then institutionals, and then central banks. And retail lacks the fungibility to be owned by central banks. So it’s capped from that perspective.
Then it’s capped because there are enough leaks around who owns what that now creates security risks. I think France being the best example where I think the French government forced publication of who owned what crypto assets, and you had just a complete flurry of kidnappings and all kinds of really bad things.
And then the third is around AI where if you believe that recursive self-improvement is pointed towards cryptographic hacks, the most obvious thing to point it to would be to Satoshi’s wallet and, you know, to break SHA-256 and just kind of drain the wallet and then go short and then tell people that you did it.
So then you’d make the money twice. All those things, I think, are realistic reasons why it’s capped and there’s an upper bound.
And so it’s incumbent on these efforts to migrate to quantum-secure, quantum-resistant cryptographic mechanisms, which, as you can see in the Bitcoin community is basically impossible because it’s a bunch of people that can’t even agree, you know, where to meet, let alone, you know, at what time the meeting starts at.”
Chamath articulating the Zcash thesis:
“Traditional crypto lacks the fungibility to have all forms of buyers. The buying pool is really retail, then institutionals, and then central banks. And retail lacks the fungibility to be owned by central banks. So it’s capped from that perspective.
Then it’s capped because there are enough leaks around who owns what that now creates security risks. I think France being the best example where I think the French government forced publication of who owned what crypto assets, and you had just a complete flurry of kidnappings and all kinds of really bad things.
And then the third is around AI where if you believe that recursive self-improvement is pointed towards cryptographic hacks, the most obvious thing to point it to would be to Satoshi’s wallet and, you know, to break SHA-256 and just kind of drain the wallet and then go short and then tell people that you did it.
So then you’d make the money twice. All those things, I think, are realistic reasons why it’s capped and there’s an upper bound.
And so it’s incumbent on these efforts to migrate to quantum-secure, quantum-resistant cryptographic mechanisms, which, as you can see in the Bitcoin community is basically impossible because it’s a bunch of people that can’t even agree, you know, where to meet, let alone, you know, at what time the meeting starts at.”
i'll just say it because @tyler and @cameron probably never will (for branding reasons), but the more valuable privacy aka zcash becomes due to ai, the less valuable full transparency aka bitcoin becomes as well
@tyler on Zcash and AI:
"I would never consider Zcash a trade. But it is the other side of the AI coin.
The more parabolic and meteoric the rise of AI, the more scarce an asset privacy is going to become."
Sean Bowe: “At that point, you start to wonder, ‘What is the point of Bitcoin and protocols like that if you have access to the cryptography that does this?”
i guess 10 years is long enough for the left/mid curvers to forget the pain high inflation
you'd think after zcash they'd have never forgotten this lesson
some people are destined for poverty i suppose
Sold all my zcash and moved it into pearl a while ago
Pearl excites me the way zec used to when it was below 100$
We haven’t seen an AI juggernaut in crypto, and I think this is it