recent Podcast appearanceMicroStrategy founder Michael Thaler dismissed growing concerns about quantum computing as just the latest iteration of the “alarmist narrative.” He noted that there is no consensus on this threat.
Thaler argued that “quantum threats” can be considered a recycled psychological tactic. He compared this to previous concerns, such as the infamous block size dispute and China’s mining ban.
“They will continue. Quantum will come together,” Thaler said. “There used to be an argument, the Chinese are going to control all the mining…then it’s like the Chinese control the mining equipment. Oh, there might be backdoors in the mining equipment. Oh, no, China has banned Bitcoin mining.”
Thaler pointed out that each of these stories collapsed, with critics simply pivoting to the next available horror.
“The reason we’re talking about quantum at this point is because all the other risks haven’t materialized,” he explained. “I think this whole quantum horror thing is just the latest quantum fun because there’s nothing else to talk about.”
Business that arouses caution
Thaler argued that these stories are often fabricated by what he calls “ambitious opportunists” and “idealistic intellectuals” who use fear to garner commitment, capital and power.
He warned that 99 out of 100 of these stories are essentially business models for the people promoting them. “If I don’t preach, how can I get rich?” he asked.
I’ve been waiting 10 years
Saylor believes it would be wise to wait approximately 10 years until the network agrees on a potential upgrade.
“Nodes will be upgraded, hardware will be upgraded, wallets will be upgraded, exchanges will be upgraded. How do we upgrade? Well, let’s wait 10 years. There will be a global consensus on the best way to deal with it.”
