Can quantum computers break Bitcoin?

Using a quantum computer can perform the hashcash PoW by performing quadratically fewer hashes than is needed by a classical computer.

However, the extreme speed of current specialized ASIC hardware for performing the hashcash PoW, coupled with much slower projected gate speeds for current quantum architectures, essentially negates this quadratic speedup, at the current difficulty level, giving quantum computers no advantage.

https://arxiv.org/pdf/1710.10377.pdf



Source: https://arxiv.org/abs/1710.10377

Bitcoin mining and fossil fuels on the way to a $trillion.

An extensive article explaining the future of Bitcoin mining using fossil fuels.

The future of Bitcoin mining forces us to consider what tradeoffs we are willing to make for the continued growth of the network. Mining blocks in a world with mass Bitcoin adoption will require orders of magnitude more energy than present. There is nothing inherently immoral about that, but it does present a challenge in the pursuit of a multi-trillion dollar market capitalization.

https://medium.com/@maximilianfiege/a-fossil-fuel-future-for-bitcoin-mining-b108757f31ac

The intrinsic value of Bitcoin as by energy spent.

By considering energy and supply growth, Charles has found an intrinsic link between Bitcoin’s price and its value.

The value of Bitcoin is a function of its energy input in Joules.

You can check out his article here:

https://medium.com/capriole/bitcoin-value-energy-equivalence-6d00d1baa34a

Production costs of Bitcoin.

Charles Edwards dives deeper into the production costs of Bitcoin and the price floor due to CAPEX.

Commodity Prices and Production Costs.

The Cambridge Bitcoin Electricity Consumption Index (CBECI).

Bitcoin’s Production Cost.

Bitcoin Miner Price.

Bitcoin Electrical Cost — A Bitcoin Price Floor.

Miner Profitability Oscillator.

Outlook.

Read his in-depth article here:

https://medium.com/capriole/bitcoins-production-cost-88d889462ea7

An introduction to Bitcoin statechains.

Most of us know the Lightning Network, a possible layer 2 solution for the scaling problem. But did you hear about Statechains? No? Here is a good introduction:

The basic idea behind Statechains is that you lock up money between two parties in a 2-of-2 multisig: the Statechain entity and the user. When the user wants to transfer the money (the entire UTXO), they simply hand over their private key, which we call the transitory key, to the intended recipient.

Read it here:

https://medium.com/@RubenSomsen/statechains-non-custodial-off-chain-bitcoin-transfer-1ae4845a4a39

Innovation in the Bitcoin stack.

With Bitcoin, you have the base layer (layer 1). The Bitcoin network most people know. But there is more! Layer 2, sidechains, smart contracting.

What are some of those innovations that are being worked on?

Excellent article from Lucas Nuzzi:

A Look at Innovation in Bitcoin’s Technology Stack

Read it here:

https://medium.com/digitalassetresearch/a-look-at-innovation-in-bitcoins-technology-stack-7edf877eab14?