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IBM releases first-ever 1,000-qubit quantum chip
(www.nature.com)
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this post was submitted on 04 Dec 2023
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There’d just be new cryptocurrencies. There are crypto algorithms that are already quantum resistant. Monero is a great example.
You seem to be under the impression that crypto somewhat relies on current technology to exist. It’s a set of heuristics and algorithms, not a single implementation. And those can evolve for new use cases or technologies.
What you said is akin to “if something like this could make databases obsolete”.
The question, the problem with crypto, is not how, it's why?
It isn't about if we can or cannot. It's about the usecase of it all.
For now, the only use case crypto has is wel... Betting. It's hard to call it anything else like speculation.
You would be out of your mind to use it as a currency. The worth of crypto is too volatile. Even black market usage is problematic due to this. (did i just buy a pound of coke for 50k or 100k? Who knows? I guess we see tomorrow)
It also is too slow to use as a currency; the transaction times are off the charts compared to other forms.
It also is the most wasteful form for storing wealth.
It's also the most risky way for storing wealth. The amount of hacks and scams are insane.
It, in its current form will never be a legal tender. Currency is about control for governments, to devalue or not, to prop up the economy, boosting it or easing it down when needed and crypto doesn't provide that. So to use that wealth you'll always need an exchange. A third party. Which, recent history has thought us, are very prone to abuse and regulation. they can be banned overnight. (China comes to mind)
It's a solution. The question is for what. The popularity of it all is based on 2 things : greed and the fear of missing out. (which again boils down to greed)