Viktor

Lawyer | Digital Assets & Tech

Legal at @satoshilabs
Organizer of @Reg3Conf_Prague

[Viktor @Vixtrol]

With the increasingly relevant discussion about the relation between MiCA and DeFi, I decided to share my recently published thesis on Decentralized Finance from the Perspective of Czech Financial Regulation and MiCA Proposal published.👇

[nic carter @nic_carter]

this might seem like a reasonable take, but it's actually unreasonable and wildly risky.

as the Google paper explicitly says (see below), and others note, you will not get warning. the warning is what you are getting now. this is your warning. once logical cubits start to meaningfully scale, you will go from cracking 5 bits to 256 bits very quickly.

if you're wagering the future of a trillion dollar asset on QC development following a slow, predictable, linear path, with public milestones, you are taking an enormous risk.

Google paper:

"progress in quantum computing is better understood using a threshold model rather than in terms of the number of physical qubits"

"there may be little time between the breaking of 32-bit ECDLP and the breaking of 256-bit ECDLP. Furthermore,
the community should not expect to see published demonstrations of the most advanced quantum error-correction architectures and quantum algorithms deployed to cryptanalytic problems"

the field is already self-censoring to avoid giving tools to black hats (again, see the Google paper). progress will happen in secret.

additionally, as we all know, it will take a minimum of several years to fully transition. a signature scheme must be chosen, tested, deployed, soft forked, and adopted (this has to happen for every single address, which alone will take months). thus, you have to start acting several years before Q-day.

unfortunately, the premise that the development of a CRQC will happen slowly, publicly, and predictably that almost all Bitcoin devs seem to be relying on, is false. Bitcoin devs will have to do something uncomfortable: act under conditions of uncertainty and make difficult and costly tradeoffs _before_ the threat seems clearly apparent.

we will not have the luxury to waiting until a N bit key is broken. at that point, we will have weeks or months, not the years required.

this means that the testing and deployment of a PQ signature scheme on Bitcoin has to occur in 2026.

[Viktor @Vixtrol]

@JanBerka8 Pracovní trh bude uměle stimulován regulací, která způsobuje nárůst administrativy, compliance, risk managementu a využití dostatečných lidských kapacit na vše zmíněné. Hádám, že tento trend bude jen posilovat.

[Trezor @Trezor]

Introducing Trezor Safe 7, the hardware wallet that changes crypto security forever — radically transparent, fully wireless, and quantum-ready.

Pre-order now: https://t.co/jYDOIvUYkC

[Viktor @Vixtrol]

Great to see such startups also in Europe!

[Anton Osika @antonosika]

Lovable just crossed $100M ARR in 8 months.

Faster than OpenAI, Cursor, Wiz, and every other software company in history.

Today we're launching a game-changing update, it reduces the error rates by 91%.

Introducing Lovable Agent:

[Christian Catalini @ccatalini]

1/ The @BIS_org just published a blueprint for “containing” crypto and DeFi. Think: writing parking regulations for a fleet of self‑driving drones — earnest work, two technological leaps behind.

[Viktor @Vixtrol]

Take control with @Trezor.

[Trezor @Trezor]

At Trezor, we’re reigniting our mission—empowering you to Take Control of your financial future. 🪂

[Bitcoin Archive @BitcoinArchive]

BREAKING: 🇨🇿 Czech Republic scraps capital gains tax on #Bitcoin held +3 years

[web3kc.eth @kingscounselxyz]

🚨The FCA has today (7 Aug 2024) issued updated guidance for cryptoasset firms relating to financial promotions.

[Troy Cross @thetrocro]

1/n I'm really proud of this report on bitcoin ownership.
Our survey of 3,538 adults in the US found bitcoin ownership:
-covers the full spectrum of political identity
-is skewed young and male
-correlates weakly with a unique profile of moral values
-correlates strongly with knowledge of bitcoin
🧵

[ross.wei @z0r0zzz]

So, a french criminal court just cleared two hackers based on a 'code is law' theory, that the DeFi code was:

𝘶𝘯𝘦 𝘮𝘢𝘤𝘩𝘪𝘯𝘦 𝘲𝘶𝘪 𝘥𝘰𝘯𝘯𝘦 𝘱𝘭𝘶𝘴 𝘲𝘶𝘦 𝘤𝘦 𝘲𝘶’𝘦𝘭𝘭𝘦 𝘥𝘰𝘪𝘵 𝘥𝘰𝘯𝘯𝘦𝘳
"a machine that gives more than it should give"

https://t.co/cm80EAlvBy

[The Reg3 Conference @reg3conf]

We had a blast yesterday at @Reg3Conf_Prague! We thank everyone who participated, the amazing speakers, moderators and sponsors who made this possible 🙌

#CryptoRegulation
#NotADuck 🦆

[Viktor @Vixtrol]

See you at @Reg3Conf_Prague!🔜

[The Reg3 Prague @Reg3Conf_Prague]

⏰Only 3 days left until #Reg3Prague begins!

Have you secured your ticket yet❓

🎟️https://t.co/Txp9fOn5vC

⚡️Powered by: @EuCInitiative, @CeskaCkma

💼Sponsors: @PRKPartners, @sparring_crypto

📌@PrgBlockWeek

Full agenda in the thread below.🧵👇

[Viktor @Vixtrol]

Very cool!

[Crypto at Sparring 👾 @sparring_crypto]

😺💫 The CAT is out of the bag.

💡Confused about MiCA regulation and how it impacts your crypto project? Crypto AutomaT (aka CAT) is out and is ready to help you navigate the EU-wide crypto-asset regulation, MiCA.

[The Reg3 Prague @Reg3Conf_Prague]

Reg3 Prague draws near!

We offer you a sneak peek into one of our thought-provoking discussions. 🗣️

Join us as we delve into the pressing topic of #crypto after #MiCA with our esteemed guest, @OKovarikMEP, Member of the European Parliament. 💼
👇
https://t.co/vv7CN0tyj4

[Viktor @Vixtrol]

@moo9000 @DrNickA @jamie247 True, but the already effective regulation on DLT Pilot Regime provides exemptions to this under a special licence.

[Patrick Hansen @paddi_hansen]

The MiCA effect 🇪🇺🚀

The share of VC investment into European crypto projects is up almost 10x in one year - from a share of 5.9% in Q1 2022 to 47.6% in Q2 2023.

Regulatory clarity attracts capital & entrepreneurs from around the world. Great development for crypto in Europe!

[The Reg3 Prague @Reg3Conf_Prague]

You heard it here first: Ondřej Kovařík, Member of the European Parliament, is joining the #Reg3Prague! 🙌🦆
Set your calendars for June 6th and get your early bird tickets before they are gone: https://t.co/Txp9fOn5vC

#DecentralisedTechnology #Crypto
#CryptoRegulation #MiCA

[The Reg3 Prague @Reg3Conf_Prague]

The early bird tickets for Reg3 Prague are now on sale! 🎉

Join us for a unique opportunity to learn, connect and engage with crypto regulatory experts and industry insiders.

👉 https://t.co/Txp9fOn5vC

#Reg3Conf #EUCI #Reg3Prague

[Prague Blockchain Week → 2028 @PrgBlockWeek]

Excited to have @VitalikButerin in Prague🔥 #pragueblockchainweek #ethprague

[Viktor @Vixtrol]

@alan_kooper Druhá věc je kdo a jak bude zkoumat, zda došlo k upravení daného AI výtvoru, především pak u textu. Problematičtější je ale neoprávněné používání autorských děl v rámci promptů, tedy jejich zpracování bez licence.