Chapter 1200 The End of Cryptocurrency

Because the update of the confidential algorithm has been completed ahead of schedule, the news of the advent of commercial quantum computer technology has not brought any impact on the communication security and order of Huaguo.

Except for the initial slight confusion caused by the panic, and some old men and women who didn't know the truth went to the bank to toss around, basically it didn't cause any substantial impact.

However, compared to the beautiful scenery here in Huaguo, other countries are not so lucky.

P2P Foundation Forum.

In the world's most famous blockchain community, geeks who are proficient in cryptography, as well as those who don't know the truth, are discussing the impact of this incident.

However, at this moment, an account that had been silent for many years suddenly surfaced and participated in the discussion.

[Title: The End of Cryptography. 】

[Bitcoin is just my attempt at financial decentralization. It has been successful in the past fifteen years, but it is no longer safe. 】

[Maybe we can only rely on new tools and new methods to solve this problem, as for now...]

[Just take it when you see it. 】

After this post came out.

The entire forum was eerily silent for a few seconds.

Then, in less than half a minute, the entire forum exploded instantly as if a bomb had been thrown into it!

It would be fine if this post was posted by someone else, not to mention the repercussions it caused, maybe it would attract two or three sentences of ridicule.

However, the problem is that this account is obviously not that general.

Its owner is surprisingly the world-famous mathematician and cryptographer, the man who invented Bitcoin——

Satoshi Nakamoto!

...

Almost at the same time, in an office of the Chicago Mercantile Exchange Group, a Jewish-faced man in his fifties put down the newspaper in his hand, looked at the white assistant standing across the desk and said.

"Bitcoin is not that safe anymore."

His name is Baruch, and as a professional manager of the Chicago Mercantile Exchange Group, he is responsible for managing credit investment funds for important clients of the CME Group, with more than 50 billion U.S. dollars in his hands.

After seeing the first-hand report on quantum computers by The Wall Street Journal, he immediately made a judgment based on his previous understanding of quantum computer technology, and the price of Bitcoin must have been unable to support it.

So, it took him less than a minute to think, and then he gave an order.

"Get ready to sell short."

Hearing Baruch's order, the white assistant nodded and asked seriously.

"According to what principles?"

Baruch thought for a while, then spoke.

"Just follow the $100 line."

...

As the "victims" of quantum computer technology, the first to be impacted are Bitcoin players.

The Chicago Board Options Exchange, which was the first to launch bitcoin futures and has perfected short-selling financial instruments for bitcoin, has placed tens of billions of dollars in short-selling bitcoin in less than a day.

The so-called short-selling operation refers to when an investor or a group of people believes that the market price of Bitcoin will fall in the future, they borrow Bitcoin and sell it at the current price, and then repay it at a certain price in the future.

If the judgment is correct, you can make a profit, otherwise you will suffer a loss.

The total global market value of Bitcoin is only over 100 billion US dollars, and the short orders of tens of billions of dollars are almost equivalent to 10% of the total market value. Considering those accounts that followed the trend and sold due to the decline, the result can be imagined .

In fact, to put it bluntly, the essence of almost all cryptocurrencies, including Bitcoin, is a bunch of "special solutions" generated by complex algorithms.

Just like the special solution of a system of equations, each special solution can solve the equation, and each special solution is unique.

If you use a banknote as a metaphor, Bitcoin is the serial number of the banknote. When you know the serial number on a banknote, you own the banknote.

The process of mining is to constantly seek the special solution of this equation system through a huge amount of calculation.

This currency designed based on cryptography, although due to decentralization, has the hidden advantage of being able to evade supervision.

But in contrast, this kind of virtual assets without any credit subject as a guarantee is like a piece of draft paper thrown into a shredder in the face of quantum computers, which specialize in all kinds of ciphers. , simply vulnerable.

Apparently, Mr. Baruch, a professional trust manager, is not alone in seeing through this.

Almost as soon as his company started shorting Bitcoin, dozens of investment banks and financial companies quickly entered the battlefield.

As the trading volume continued to increase, a large number of sell orders were issued, and the transaction price continued to fall. In less than half a day, it fell from the top of the tens of thousands of dollars to the floor of a hundred dollars, and from the entire plate with a market value of 100 billion Billions of dollars were swept away.

Obviously, both Baruch and the investors who swarmed over have obviously underestimated the impact of quantum computers on Bitcoin.

Seeing the falling transaction price on the screen at the end, Baruch smacked his lips a little dissatisfied.

He originally thought that his reaction was fast enough, but he did not expect that the action was still a little slower. Later, more and more colleagues came in, and it became more and more difficult to ship goods. The trust fund he managed only made less than one billion The US dollar and the entire bitcoin market collapsed in a mess.

Facing the K-line chart falling like a waterfall, he opened his mouth and said.

"Fill the short order below $10."

"Won't you wait any longer?" Looking excitedly at the huge amount of empty orders, the assistant sitting in front of the computer looked back at Baruch and asked, "I feel that if we wait, we can even sell the bills from under $1. Pick up the melted bitcoins."

"Let's take it when it's good," Baruch said calmly, "We're betting on our expectations, not on Professor Lu's real use of quantum computers to print money."

"Well, maybe you're right."

Honestly following the manager's instructions, the assistant placed a buy order below $10 and began to collect the chips they had thrown from the top of the mountain.

With just a flick of their fingers, they looted nearly a billion dollars of wealth from countless people all over the world, which is faster than the Federal Reserve's money printing machine.

The only regret is that this kind of opportunity is probably rare to come across once in a lifetime.

The harvest is over.

Looking at the funds deposited in the account, the assistant sitting at the desk had an expression of emotion on his face.

In front of him is money that he will never earn in his life, if only he could look at it for a while longer.

However, with so much money sitting in the account, there are unseen costs being lost every minute.

Looking back at his boss, the assistant asked.

"What about the returned funds? How to deal with them?"

Hearing his subordinate's request for instructions, Baruch pondered for a moment, and then ordered.

"Buy bonds."

Assistant: "All?"

Baruch: "All."

Bonds are a relatively good safe-haven product. When the economic situation is sluggish, especially when facing systemic financial risks, whether it is various trust funds or other central banks, they will buy U.S. bonds as an alternative operation for hedging risks.

Although it was just a premonition, years of experience as a trust fund manager allowed Baruch to develop a professional sense that was sharper than that of a hound.

But now, his professional sense is telling him that behind the seemingly calm financial market, there is an undercurrent that may be more terrifying than he imagined.

This undercurrent is being driven by emotions, biting everything restlessly.

What happened in the bitcoin market is just a microcosm of this turbulent undercurrent...

Baruch took out a cigarette from his pocket, and was going to go to the window to light it for himself.

However, at this moment, the phone in his pocket rang, so that he had no choice but to put the cigarette back and take out the phone.

Leaning to his ear and pressing the on button, he said happily because he was in a good mood.

"Clement? Why did you suddenly think of calling me, my old friend."

"Are you still in the mood to laugh? God..."

The voice on the other end of the phone was full of anxiety and disbelief, but Baruch, who was in a state of complacency, didn't notice the unusual tone in the voices of these old friends, he just took it as a deal that he just made a loss , Haha smiled and comforted.

"You don't know what just happened..."

However, just as Baruch was about to tell in detail how he made a big splash in the Bitcoin market by virtue of the two great qualities of foresight and bravery, his old friend interrupted him. if.

"Yes, you don't know what happened just now, I suggest you go to the Dow Jones Index! Damn it, my God! It's a wrong decision to ask you to discuss it!"

The phone beeped and hung up.

Baruch frowned, moved the phone away half an inch, looked at the disconnected call on the screen, a trace of anxiety gradually surged in his heart, and this trace of anxiety was eroding all the positive emotions in his heart.

Thinking of his old friend's anxious tone, he suddenly realized something.

Without any hesitation, he quickly returned to his desk and sat down. Baruch quickly opened the trading software and logged in to his management account.

However, the moment his eyes met the screen, he froze, and the cup on the table hit the ground with a bang.

Hearing the noise from the boss, the assistant quickly stood up and looked at him.

"What happened? Boss."

No response.

I saw his boss sitting in front of the computer desk, as if he had been petrified, sitting there motionless.

Looking at the scene of thousands of miles of red mountains and rivers, Baruch's old face turned red for an instant, then the blood color faded slowly, and finally turned pale like a cement wall...

over...

it's too late...

It's all over.

Just when they were killing all directions in the Bitcoin market, a financial tsunami swept across the entire Nasdaq sector, driving the Dow Jones Index to drop by 8 points during the session, and trillions in market value evaporated out of thin air.

And the account he manages...

The little money he earned just now might not be enough to make up for the small change he just lost.

There was a sudden trance in front of him, and Baruch was about to stand up, but the hand holding the armrest suddenly seemed to have lost all strength and hung in the air like weightlessness.

Sitting back on the chair, his bloodshot eyes suddenly went black.

Just before his consciousness was about to fall into darkness, a hollow cry came faintly from his ear.

"Boss fainted - call an ambulance!"

"You press his chest, I'll give him artificial respiration!"

"..."

Then, he couldn't hear anything...