[ExI] Sell your Bitcoins!

[Jason Resch]

On Tue, May 19, 2026 at 2:00 PM Stuart LaForge via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> On 2026-05-18 05:54, John Clark via extropy-chat wrote:
> >
> > It might take a lot of energy and be difficult to make artificial dog
> > shit, and if you have the gift of gab you might be able to convince
> > enough people that artificial dog shit is valuable and everybody
> > should own some and create a fad, but no fad lasts forever. As for
> > gold, I maintain that our civilization would be just as prosperous if
> > there was no gold at all in the earth's crust; well OK nearly as
> > prosperous, gold does have a few industrial uses, bitcoin has none.
>
> Finance is, in fact, a huge industry and BTC has a lot of financial
> utility. The fact that it is virtual instead of physical does not
> devalue it anymore than many other financial instruments like options
> and derivatives. It is an indelible ledger of transaction that cannot be
> faked, blocked, lost, or suppressed. The BTC blockchain could survive
> the fall of governments and even nuclear war. Proof of Work algorithms
> running online are no more a waste of energy than human labor in the
> service industry is. Or do you not believe in the value of human labor
> as expended energy? Thanks to Elon Musk telling everybody, the market
> knows about the threat of quantum computing to BTC and the market has
> priced it in accordingly. With oil-driven inflation rampant, BTC still
> seems more valuable than fiat. Moreover, quantum computing cannot be
> used to crack private keys unless the public key to the address is
> exposed, so even with robust quantum computing, BTC is still secure if
> users are disciplined about putting their "change" into a new address
> after spending BTC.
>
>
Inspired by ideas that came up in this conversation, I (with the help of
ChatGPT) just put together this white paper on what I consider to be the
ideal migration path forward to address the quantum-threat:
https://zenodo.org/records/20292912

AI reduced what would otherwise have been a multi-week process to just a
few hours.

Jason
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